SBIA Congratulates GMB Capital Partners, Recipient of the 2025 SBIC of the Year Award
GMB Capital Partners Recognized by U.S. Small Business Administration During National Small Business Week
WASHINGTON, DC (May 5, 2025) – The Small Business Investor Alliance (SBIA), the leading association for lower middle market private equity funds and investors, is proud to congratulate GMB Capital Partners of Minneapolis, MN, on being named the 2025 Small Business Investment Company (SBIC) of the Year by the U.S. Small Business Administration (SBA). This is the second time GMB Capital Partners has received this prestigious award, having previously won in 2016.
“We are incredibly proud of GMB Capital Partners for being recognized once again for their outstanding contributions to investing in American businesses and creating jobs,” said SBIA President Brett Palmer. “The SBIC program has a proven track record of helping small businesses access the patient, long-term capital they need to grow and succeed, and GMB Capital Partners continues to play a critical role in this important mission."
Small Business Investment Company (SBIC) of the Year Award – Established Manager
GMB Capital Partners
Carleton Olmanson, Managing Partner
Dan Hemiadan, Managing Partner
Mike McHugh, Founding Partner
Judd Stevens, Managing Partner
John Helms, Partner
Minneapolis, Minnesota
“We are incredibly honored to receive this recognition from the SBA,” said Judd Stevens, Managing Partner at GMB Capital Partners. “Our commitment to supporting small businesses and fostering their growth has been at the core of our mission since our founding. This award is a testament to the hard work and dedication of our team, as well as the lasting impact we seek to make on small businesses across the country.”
The SBIC program is an essential source of funding for U.S. small businesses, with over 300 licensed SBIC funds representing more than $30 billion in private capital*. According to data compiled by the SBA, as of 2024, the SBIC program has:
- Deployed more than $130 billion in capital;
- Made over 194,000 investments in U.S. small businesses; and
- Licensed nearly 2,400 funds.
Through its collaboration with the SBA and lawmakers, SBIA works to ensure the program’s continued success and expansion into underserved regions of the country. SBIC funds like GMB Capital Partners can access low-cost leverage, up to twice the amount of private capital they raise, allowing them to invest in small businesses that create jobs, drive innovation, and foster economic growth.
*As of 2024, there were 318 licensed and operating SBIC funds with combined private equity capital and SBA leverage commitments exceeding $46.8 billion. In FY2024, SBICs invested more than $7 billion in 1,142 domestic small businesses, and SBIC investments created or sustained 113,393 jobs. Learn more facts about the program on SBIA’s SBIC Council webpage.
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About GMB Capital Partners
GMB Capital Partners invests in privately owned lower middle-market companies with enterprise values ranging from $20 million to $200 million. With over 21 years of experience, GMB Capital Partners has invested more than $1.6 billion across 140+ companies throughout the United States. As a trusted partner to small businesses, GMB Capital Partners helps bridge the funding gaps many underserved businesses face. These investments provide critical capital that drives job creation, fosters economic growth, and supports community development. GMB Capital Partners primarily targets businesses in industries such as manufacturing, distribution, technology, healthcare, consumer goods, and business services.
About the SBIC Program
The SBIC program is run by the Small Business Administration’s Office of Investment and Innovation and is an investment program designed to increase small business access to venture and private equity capital for growth, production, and modernization. For more than 60 years, SBICs have been providing capital to American small businesses to help them expand their operations and create jobs. Fund management teams that meet the SBA requirements and successfully complete the application process, are able to access low-cost leverage up to two times the private capital they raise. These funds then invest in a portfolio of U.S. small businesses, creating jobs, fostering innovation, and fueling economic growth. To learn more about the SBIC program, visit www.sba.gov/sbic.
About the Small Business Investor Alliance (SBIA)
The Small Business Investor Alliance (SBIA) is the premier organization of lower middle market private equity funds and investors. SBIA works on behalf of its members as a tireless advocate for policies that promote competitive markets and robust domestic investment for growing small businesses. SBIA has been playing a pivotal role in promoting the growth and vitality of the private equity industry for over 65 years. For more information, visit www.SBIA.org or call (202) 628-5055.
