FIRM OVERVIEW

TELEO CAPITAL IS AN OPERATIONALLY-FOCUSED PRIVATE EQUITY FIRM TARGETING OPPORTUNITIES IN THE SOFTWARE & TECHNOLOGY, HEALTHCARE IT, BUSINESS SERVICES, AND INDUSTRIAL SECTORS.

Financial data charts on a digital screen Jet engine being serviced in an aircraft hangar Hand touching a digital business dashboard

DIFFERENTIATORS

TELEO Capital combines investing experience, functional expertise, and deep industry knowledge to drive successful outcomes in complex deal situations where flexibility and creativity are required.

Rowing crew pulling in unison on open water

EFFICIENT

  • SPEED AND CERTAINTY OF CLOSE
  • Efficient due diligence
  • No bureaucratic committees
  • Fluid and seamless transition of ownership

FLEXIBLE

  • Experienced in solving complex deal dynamics where creativity, flexibility and certainty matter

COLLABORATIVE

  • Skilled at preserving key customers, vendors, and employee relationships

INVESTMENT CRITERIA

Investment

  • $10M-$30M AVERAGE PER PLATFORM

  • $10M-$100M REVENUE






Structures

  • CORPORATE CARVE-OUTS

  • LEVERAGED AND MANAGEMENT BUY-OUTS

  • SPECIAL SITUATIONS

  • OPERATIONAL PARTNERSHIPS

  • BUY AND BUILD

Industries

  • SOFTWARE & TECHNOLOGY

  • HEALTHCARE IT

  • BUSINESS SERVICES

  • INDUSTRIAL

Characteristics

  • RECURRING REVENUE

  • SCALABLE COST STRUCTURE

  • SUCCESS-BASED CAPEX

  • UNDERUTILIZED OR NON-CORE ASSETS

  • PROFITABILITY NOT REQUIRED
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THE TELEO CAPITAL TEAM

Involved in Over
15
Acquisitions
Private Equity
25
+ Years of Experience
Involved in Over
15
Corporate carve-outs
Boise Depot clock tower

EXECUTIVE COMMITTEE

George Kase, Managing Partner +

George Kase

MANAGING PARTNER

Andres Martinez, Managing Partner +

Andres Martinez

MANAGING PARTNER

Robb Warwick, Managing Partner +

Robb Warwick

MANAGING PARTNER

Estelle Spanneut, Chief of Staff +

Estelle Spanneut

CHIEF OF STAFF

INVESTMENT TEAM

Matt Oehlmann, Partner +

Matt Oehlmann

PARTNER

Connor Martin, Principal +

Connor Martin

PRINCIPAL

Robert Shilton, Principal +

Robert Shilton

PRINCIPAL

Geoff Vasudevan, Principal +

Geoff Vasudevan

PRINCIPAL

Andie de Werd, Vice President +

Andie de Werd

VICE PRESIDENT

Kelly Blake, Senior Associate +

Kelly Blake

SENIOR ASSOCIATE

Matthew Farrow, Senior Associate +

Matthew Farrow

Senior Associate

Lauren Chamberlain, Associate +

Lauren Chamberlain

Associate

David Mertz, Analyst +

David Mertz

Analyst

OPERATING TEAM

Paul Gille, Operating Partner +

Paul Gille

OPERATING PARTNER

Kevin Hatch, Operating Partner +

Kevin Hatch

OPERATING PARTNER

Matt Katz, Portfolio COO +

Matt Katz

Portfolio COO

Catalin Olteanu, Portfolio CTO +

Catalin_Olteanu

PORFOLIO CTO

Joseph Roark, Operating Partner +

Joseph Roark

OPERATING PARTNER

Cal Taylor, Portfolio CFO +

Cal Taylor

Portfolio CFO

Venu Vasudevan, Chief AI Strategist +

Venu Vasudevan

Chief AI Strategist

TACTICAL TEAM

David Casares, Managing Director +

DAVID CASARES

MANAGING DIRECTOR

David McCauley, Managing Director +

DAVID MCCAULEY

MANAGING DIRECTOR

Michelle Esters, Finance Director +

MICHELLE ESTERS

FINANCE DIRECTOR

Erin Dobson, Finance Director +

Erin Dobson

FINANCE DIRECTOR

Emma Earl, Head of Investor Relations +

Emma Earl

INVESTOR RELATIONS

PORTFOLIO

MODERSYS
SCOPE AR
Ytel
NumoData
BluLogix
Softrax
SafetyDirect
Plum Voice
AssuriCare
Webtext
SharpenCX
TECHRULES
Fleetsu
CHCS Services
WESTERN PRINCIPLES
FIOS
FLATIRONS
UNIVERIS
TEESNAP
RAND-MCNALLY
RAND-MCNALLY
RAND-MCNALLY
INDUSTRIAL DEFENDER
PAXIA
UMT360

LATEST NEWS

Modersys

TELEO CAPITAL MANAGEMENT COMPANY, ACQUIRES SMARTFACTORY RX™(“SMARTFACTORY” OR “MODERSYS”)

Boise, ID – June 23, 2026 – TELEO Capital Management, LLC (“TELEO”) today announced the acquisition of SmartFactory Rx™(“SmartFactory” or “Modersys”), a leading pharmaceutical manufacturing intelligence platform, from Applied Materials, Inc. SmartFactory...

Scope AR

TELEO CAPITAL PORTFOLIO COMPANY, FLATIRONS SOLUTIONS, ACQUIRES SCOPE AR

Boise, ID – June 17, 2026 — TELEO Capital Management, LLC (“TELEO”), today announced the acquisition of Scope AR (“Scope”) by its existing portfolio company, Flatirons Solutions (“Flatirons”)...

Ytel

TELEO CAPITAL PORTFOLIO COMPANY, SHARPEN, ACQUIRES YTEL

BOISE, ID – (December 4, 2025) – TELEO Capital Management, LLC ("TELEO"), a leading lower middle-market private equity firm, today announced the acquisition of Ytel, Inc. ("Ytel"), a recognized leader in cloud-based communications platforms, by its portfolio company Sharpen Techno...

NumoData

TELEO CAPITAL ACQUIRES EXFO’S ADAPTIVE SERVICE ASSURANCE (ASA) DIVISION, ESTABLISHING NUMODATA AS A NEW INDEPENDENT COMPANY

Boise, ID – November 20, 2025 – TELEO Capital Management, LLC (“TELEO”) has announced the acquisition and formation of NumoData from EXFO, opening a new chapter in AI-driven service assurance innovation. Employees and leadership from EXFO’s ASA division are transitioning to NumoData. EXFO retains a minority stake in the new company, and Philippe Morin will join NumoData’s...

FUND II

TELEO CAPITAL CLOSES OVERSUBSCRIBED FUND II AT $350 MILLION HARD CAP

BOISE, ID AND LOS ANGELES, CA – November 6, 2025 – TELEO Capital Management, LLC (“TELEO”), a lower middle market private equity firm specializing in acquiring corporate carve-outs and other complex transactions across enterprise software and tech-enabled services, today announced the final close of TELEO Capital Fund II (“Fund II”) at its hard cap of $350 million in ...

BluLogix

TELEO CAPITAL PORTFOLIO COMPANY, SOFTRAX, ACQUIRES BLULOGIX

TELEO Capital Management, LLC (“TELEO”), has announced the acquisition of BluLogix LLC by its existing portfolio company, SOF...

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TELEO Capital's Boise office building