Why Sector-Focused Lower Middle Market PE Beats Generalists
May River's Angela McCoy on why 50% gross margins, engineered products, and specialized operators outperform generalist private equity.
Parker Gals: Angela McCoy, May River
With Cass, Angela McCoy · Sunday, September 6, 2026
Angela McCoy, Managing Director at May River, joins Cass to discuss her career path from leveraged finance during the 2008 financial crisis to family office investing and lower middle market private equity. They explore the strategic advantages of sector-focused investing, debunk common private equity stereotypes regarding cost-cutting, and emphasize the value of peer networks and building a personal board of advisors.
Key takeaways
- May River targets niche industrial businesses with 50% gross margins and 20% plus EBITDA margins, filtering strictly for engineered products where failure is costly. Read more →
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