Sunlight filtering through green leaves and branches of a tree viewed from below.

Investment approach

The right business.
Built on aligned values.
For the long term.

Carthage Holdings partners with businesses that value long-term growth, strong leadership, and a people-first culture. We invest with patience, support leadership teams, and focus on building sustainable value for employees, clients, and future generations.

what makes a great fit

What We Look For

An Established Business

We partner with sustainable, profitable companies with proven operations and strong customer relationships.

Strong Leadership Teams

We value experienced leadership and work alongside management teams to support continued growth and operational success.

People-First Cultures

We seek businesses that prioritize employees, customer relationships, and long-term stewardship.

Long-Term Growth Potential

We focus on companies with opportunities for sustainable growth, operational improvement, and lasting market value.

Sunset over grassy rolling hills with a small pond, trees, and a wooden barn.

Built for the Long Term

We believe great companies aren't built overnight. They are built through decades of hard work, strong leadership, and people who care deeply about what they're creating. That's why we take a long-term approach to growth, investing in businesses, people, and opportunities that create lasting value.As a 100% employee-owned company, we believe ownership changes the way people think. It creates accountability, encourages stewardship, and aligns everyone around a shared purpose. By building a diverse family of companies and empowering employee-owners to make an impact, we create enduring businesses, stronger teams, and a future worth building together.

Our Approach

Why Carthage Holdings

Long-Term Ownership

We invest with patience and focus on sustainable growth over time.

Operational Support

Our shared services teams provide expertise in Finance, HR, IT, and Marketing.

Employee Ownership Mindset

As a 100% employee-owned company, we believe shared success creates stronger businesses and stronger teams.

Partnership-Focused

We build relationships rooted in trust, transparency, and long-term alignment.

Testimonials

What are people saying?

I’ve sold multiple companies over the years, and this transaction with Carthage was by far the smoothest. Even after closing, they’ve delivered on everything they promised. They’ve been exceptional stewards of Red Foundry, and I couldn’t be more excited about what’s next for the business and the team.

—

Rich Linden

,

Former Owner, Red Foundry

I had reservations going into the transaction, as there were a lot of unknowns. Carthage has come in not just as an acquirer, but as a true partner. On top of becoming employee- owners, the productive collaboration and shared resources across the organization have been a welcome and positive outcome.

—

Kerri Klun

,

CEO, Red Foundry

Tree roots covered in green moss spreading over forest floor.

Get in Touch

Let's Start a Conversation.

Interested in building something that lasts? Learn more about how we partner with businesses to grow, thrive, and create lasting impact.

Email
info@carthageesop.com
Location
Cedar Falls, Iowa
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