GuideCap Partners Research
Advisory Approach
GuideCap Partners is a Dallas-based middle-market investment bank specializing in mergers & acquisitions, with a disciplined approach to creating competitive M&A processes that leave nothing to chance. Founded and led by partners Kevin Ainsworth and Todd Anders, the firm brings deep expertise in transaction execution, capital markets access, and valuation advisory. Their philosophy centers on senior-level attention, maximizing client value, and delivering premium service comparable to top-tier national investment banks despite their focused regional presence.
The firm is particularly distinguished by its founder-led approach—both managing partners bring decades of senior banking experience (Ainsworth with 25+ years, Anders with 30+ years). Ainsworth's background includes a Principal role at a Silicon Valley investment bank focused on technology M&A, while Anders' experience spans international expansion at Carlson Companies ($30B portfolio) and prior work as a securities law practitioner specializing in M&A and business transactions. This combination positions GuideCap to advise on complex, structured deals with deep understanding of both operational and capital markets dynamics.
Sector Focus
GuideCap Partners maintains active practices across multiple sectors with particular depth in software and technology, healthcare services, and industrial/manufacturing. Their team includes individuals with specific expertise in growth and innovation companies, recurring revenue businesses, and healthcare sector dynamics. Kevin Ainsworth's primary focus is on growth and innovation companies facing unique challenges, with significant sector experience in software, technology, business services, and healthcare.
The firm has completed deals in software-as-a-service (FPX LLC - on-demand software platform, leveraged buyout Q2 2016), aerospace and defense (Mikros Systems Corporation - hardware and software solutions for Navy operations, acquisition completed Feb 2021 for $4.6-7.2M), healthcare services (Tarrytown Expocare - specialized long-term care pharmacy for intellectual and developmental disability populations, PE investment by Sheridan Capital Partners, Jan 2020), and retail/consumer (Tile Shop Holdings - specialty tile retailer, fairness opinion on reverse stock split transaction, Oct 2025).
Beyond individual sector specialization, the firm's valuation division (sold to Scalar LLC in Oct 2022) maintained deep relationships with private equity firms, suggesting broad sector coverage and experience across portfolio company valuations and secondary transactions.
Deal Track Record
GuideCap Partners reports having successfully completed over 250 assignments with a value in excess of $10 billion. While their transactions page does not display individual deal details (likely image-based tombstones), research reveals several representative engagements:
Tarrytown Expocare (Jan 2020): GuideCap served as financial advisor to Tarrytown Expocare, a national long-term care pharmacy specializing in serving individuals with intellectual and developmental disabilities. The company, founded in 2013 and headquartered in Austin, Texas, had grown to serve over 1,900 group homes nationwide. Sheridan Capital Partners (Chicago-based healthcare PE firm) invested alongside founder Mark Newberry's continued ownership. This transaction demonstrates GuideCap's capability to identify and structure growth equity deals in niche healthcare segments with durable competitive advantages.
Mikros Systems Corporation (Feb 2021): GuideCap provided fairness opinion support for Mikros Systems, an advanced technology company specializing in hardware and software solutions for Navy operations. McKean Defense Group, an employee-owned defense contractor, acquired Mikros in an all-cash transaction valued at approximately $4.6-7.2 million (announced Nov 2020, completed Feb 2021). This deal demonstrates GuideCap's experience advising on complex aerospace/defense acquisitions involving government contractors and specialized technology.
FPX LLC (Q2 2016): GuideCap advised on the leveraged buyout of FPX LLC, a Dallas-based software publisher developing on-demand software platforms. This transaction exemplifies the firm's work with growth equity and PE-backed recapitalizations in the technology sector.
Tile Shop Holdings (Oct 2025): GuideCap delivered a fairness opinion supporting Tile Shop Holdings' (Nasdaq: TTSH) transaction to delist from the Nasdaq Capital Market via reverse stock split. The transaction included a cash-out price of $6.60 per share for fractional shareholders, with expected annual savings of approximately $2.4 million post-delisting. This recent engagement shows ongoing activity and trusted relationships with public company boards and special committees.
ABATIX Corp Going Private (2012): GuideCap served as financial advisor to the Special Committee on a going-private transaction, demonstrating experience with public company minority squeeze-outs and board-level advisory work.
Process & Fee Structure
GuideCap emphasizes running disciplined, competitive M&A processes that maximize buyer outreach and create tension between bidders. On each M&A and financing transaction, the firm strives to deliver institutional-quality service combined with extensive relationships, firm grasp of capital markets, and personal dedication from senior partners. The firm does not disclose standard fee structures publicly, but engagement terms typically include retainers and success fees aligned with transaction complexity and size.
The firm offers multiple service lines beyond M&A advisory: capital raises (including senior debt, subordinated debt, venture capital, growth equity, acquisition capital, and recapitalizations), fairness opinions, and comprehensive valuations. Their valuation practice, prior to its 2022 sale to Scalar LLC, was particularly valued by private equity firms for complex securities analysis, option pricing, Monte Carlo simulations, and secondary market transactions.
Buyer Network & Relationships
GuideCap maintains extensive relationships with private equity firms, venture capital providers, banks, and family offices across the southwestern and broader US markets. Deal history reflects relationships with Sheridan Capital Partners (Chicago-based healthcare PE), McKean Defense Group (Philadelphia-based defense contractor/PE), and access to PE-backed leveraged buyout capital. The firm's prior valuation division, maintained close relationships with some of the largest and most prestigious private equity firms in the US, suggesting deep institutional access to mid-market PE capital.
Competitive Positioning
GuideCap differentiates through several factors: (1) founder-led partnership with 25-30+ years of M&A experience each, ensuring senior attention on every engagement; (2) regional expertise in southwestern US market with deep local relationships; (3) balanced service offering spanning M&A advisory, capital markets access, and valuation expertise; (4) disciplined process approach emphasizing competitive tension and exhaustive buyer outreach; and (5) prior background in technology and international M&A, providing unique perspective on growth and innovation company valuations.
The firm's decision to exit the valuation business (sold to Scalar in 2022) demonstrates strategic focus—management chose to concentrate resources exclusively on core M&A advisory and capital raising, allowing them to deepen expertise in transaction advisory without the overhead of maintaining a separate valuation practice.
Not a Fit If
Based on their practice focus and deal history, GuideCap likely declines: very small transactions (sub-$5M TEV), distressed/bankruptcy situations requiring restructuring expertise, transactions requiring extensive international regulatory navigation beyond their southwestern US core, and clients seeking primarily a valuation opinion without transaction advisory depth.
Team
The firm has approximately 10 professionals across partner, director, manager, and analyst levels. Key team members include:
Kevin Ainsworth (Partner, Founder): 25+ years of M&A, financings, valuations, and fairness opinions experience. Prior Principal at Silicon Valley investment bank focused on technology M&A for public/private tech companies. Former VP Business Development at telecom equipment company managing acquisitions and strategic partnerships. Started career in Ernst & Young Entrepreneurial Services Group. B.A. Finance/Accounting (UT Austin), CPA, Accreditation in Business Valuations (ABV).
Todd Anders (Partner, Founder): 30+ years in M&A, structuring, negotiations, and international transactions. Executive Director of International Investment Strategies at Carlson Companies ($30B holdings), overseeing expansion into 50 countries via acquisitions, foreign investment, and strategic partnerships. Prior securities law practice (mergers & acquisitions focus). Adjunct Professor Business Law, SMU. B.S. Business & B.A. Economics (Centenary College), J.D. (Baylor), M.B.A. & L.L.M. (SMU). Frequent speaker on exit strategies and M&A topics.
Samuel Scott (Vice President): Focus on M&A, valuations, research, and fairness opinions. Prior corporate finance role at Ericsson North America. Investment banking analyst background in marketing, media, and retail. B.S. Finance & Accounting (UT Dallas).
Andrew Hansen (Senior Manager): M&A and valuation expertise including complex securities, option pricing, and Monte Carlo simulations. Prior analyst at S&P Global Ratings (credit ratings and market intelligence). Analyst for Baylor Angel Network evaluating early-stage companies. M.B.A. Finance & Strategy (Cox School, SMU), B.B.A. Finance & Entrepreneurship (Baylor). CFA® charterholder.
Connor Volz (Manager): M&A and valuations focus. Prior analyst at Panattoni Development Company (Class A industrial real estate proforma modeling) and PetroCap LLC (oil & gas PE firm, business development and financial modeling). B.B.A. Finance (Cox School, SMU).
Tom Rester (Senior Associate): Complex securities expertise including option pricing, binomial lattice models, Monte Carlo simulations. Prior associate at Southern Wealth Management (portfolio analysis and investment recommendations). B.B.A. Finance (Texas A&M).
John Atalis (Analyst): B.B.A. Finance (UT Austin). Prior analyst at Invoke Tax Partners (tax-related valuations).
Jonathan Hockman (Analyst): B.B.A. Economics (Baylor). Prior associate at Fidelity Investments (risk and optimization assessments for brokerage services).
Nick Smith (Analyst): B.S. Economics (Baylor). Prior associate in Business Valuation practice at RSM (valuations in business services, food & beverage, energy sectors). Data analyst at Faithful + Gould (construction and industrial process consulting).
Collin Teaster (Analyst): B.S. (College of William & Mary). Prior associate at Fisher Investments ($150B+ firm, portfolio analysis for institutional and high net-worth investors). International microfinance initiative experience in underserved communities.
Geographic Coverage & Market Position
GuideCap Partners is headquartered in Dallas, Texas (500 N Akard St.) and serves the southwestern US and broader middle-market across the United States. The firm operates as a concentrated practice without multiple branch offices, maintaining a lean team structure that emphasizes partner-led engagements. This regional footprint provides deep local market knowledge in Texas and surrounding states while maintaining national access to buyer networks (PE firms, family offices, strategics) through their extensive relationships.
The firm is FINRA-registered and offers securities through SP Securities LLC Member FINRA|SIPC, indicating compliance with broker-dealer regulations for capital raises and investment banking services.
Summary
GuideCap Partners is a disciplined, founder-led middle-market M&A advisory firm with 250+ completed assignments totaling over $10 billion in transaction value. The firm's strength lies in its experienced partnership (50+ combined years of M&A experience), focused service offering emphasizing quality transaction advisory over scale, and deep expertise in technology, healthcare, and industrial sectors. Recent activity (Tile Shop fairness opinion, Oct 2025) demonstrates ongoing market presence and board-level trust. The firm's strategic 2022 exit from the valuation business reflects commitment to core competency in M&A advisory and capital raising.