PE  Cardinal Equity Partners

     Office Locations:

8801 River Crossing Blvd, Suite 320
Indianapolis, IN 46240
Phone: 317-663-0205
Fax: 317-663-0215



  • Middle Market



  • Business Services
  • Consumer Products & Services
  • Manufacturing & Industrial
  • Medical Device
  • Retail & Restaurant
  • Transportation & Distribution



    Cardinal Equity Partners is a privately owned partnership that seeks to acquire lower-and middle-market businesses located in the central portion of the United States. The firm's desire is to acquire controlling interests in solid, positive cash-flow businesses that need additional resources or expertise to reach their potential. John Ackerman and Jim Smeltzer, along with John's father James Ackerman, founded Cardinal Ventures in 1993 with the proceeds from the sale of a cable television business established in the early 1970's. Cardinal Equity Partners seeks to invest $2 million to $10 million of equity capital in businesses with most or all of the following characteristics: headquartered within the Midwest; niche manufacturing, distribution, or service businesses; associated with products and/or services that are unlikely to be displaced by rapidly changing technology; annual sales between $5 and $50 million; and earning $1 million to $5 Million in EBITDA.

    Investment Firm Key

       VC = Venture Capital
       PE = Private Equity
       A = Angel
       I = Incubator
       MB = Merchant Bank
       VD = Venture Debt
       FI = Family Investment Office
       FOF = Fund of Funds
       ED = Economic Development Office   
       TT = Technology Transfer Office
       CVC = Corporate Venture Capital
       SEC = Secondary Purchaser
       HF = Hedge Fund/Mutual Fund
    Venture Capital
    Seed Stage
    (includes "pre-seed," or
    concept stage)
    No Revenue
    Early StageMinimal
    Growth Stage
    (also called Mid-stage)
    Expansion Stage
    (also called Late-stage)
    $7M and greater
    Private Equity
    Lower Middle Market$10M-$249M
    Middle Market$250M-$499M
    Upper Middle Market$500M-$1B
    Large Cap>$1B

    Investment Team:

    Name   Title
    Get the complete investment team + individual email addresses for investment team partners. Get personal images, LinkedIn links, investment specialties, office locations and more with a National Database subscription.
    James L. Smeltzer Founder and Managing Director
    John F. Ackerman Founder and Managing Director
    Peter Munson Managing Director


    Portfolio companies include:

      Aqua Systems
        web link

      Contour Industries
        web link

        web link

        web link

      Guardian Pharmacy
        web link

      Motion Tech Automation
        web link

      Oak Security Group
        web link

      Prairie View Golf Club
        web link

      Williams Sound
        web link


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