Milwaukee-based Borgman Capital expands with new Twin Cities office

Ben Axelrod. Submitted photo.

Milwaukee-based private equity firm Borgman Capital is bolstering its presence in the Midwest with a new office in the Minneapolis-St. Paul area. Veteran mergers and acquisition advisor Ben Axelrod has been tapped to lead the new office.

“Borgman Capital is committed to the lower middle market, and we believe the upper Midwest, specifically Minnesota, the Dakotas and Iowa, continue to be underserved. That makes the Twin Cities an optimal place to put down roots,” said Sequoya Borgman, founder and chief executive officer of Borgman Capital. “We are excited to welcome Ben to the team and establish a presence in Minnesota. We have worked with Ben previously on several transactions, including one of our earlier investments. His track record of serving business-owner entrepreneurs and families, and his dedication to the lower middle market, make him perfect for this role.”

Axelrod has more than 20 years of financial advisory experience. Prior to joining Borgman Capital, he was a managing director and group head of the investment banking practice at CLA. Axelrod launched CLA’s M&A advisory capabilities in 2014 to support and guide owners of privately-held businesses during the ownership transition. Previously, Axelrod worked in the Minneapolis offices of Lazard and RBC Capital Markets.

“Helping business owners and their families realize the fruits of their hard work has been a driving force for me for more than two decades. Along the way, I have had the great fortune of working with some remarkable business operators,” said Axelrod. “I am proud to be able to continue to do so, now on the buy-side at Borgman Capital, and look forward to building upon the firm’s success here in the Twin Cities.”

Founded in 2017, Borgman Capital has completed 16 acquisitions to-date and introduced a real estate practice in 2021. The firm’s portfolio currently includes seven businesses across varying industries including telecommunications, manufacturing and food. Borgman Capital invests in profitable and stable companies with annual revenue between $10 to $100 million and EBITDA between $2 to $15 million.

Ashley covers startups, technology and manufacturing for BizTimes. She was previously the managing editor of the News Graphic and Washington County Daily News. In past reporting roles, covering education at The Waukesha Freeman, she received several WNA awards. She is a UWM graduate. In her free time, Ashley enjoys watching independent films, tackling a new recipe in the kitchen and reading a good book.

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