Our Portfolio


Unlike traditional private equity firms that consider their investments as part of a portfolio, we view our businesses as partnerships that are based on mutual trust and respect.

While we generally focus on businesses that are founder, family, or entrepreneur-owned, we find that opportunity can come from all kinds of companies and industries. Evolution’s businesses are generally industrial and commercial service companies which allow us to share best practices across the portfolio.

“The financial acumen and business intelligence that Evolution brings to each PortCo drives value and overall positive impact to the business. Equally importantly, they have longstanding, trusted 3rd party relationships and a network to constantly source new acquisition opportunities. Their successful track record speaks for itself.”

James Goodman, President, Gemini Investors

Current Portfolio


Westco, founded in 1984, is the preferred Houston-based commercial landscaping installation and maintenance provider. The Company offers a full range of landscape and irrigation installation, maintenance services for HOAs, municipal entities, commercial buildings, and many other commercial clients.

Allied Underground

Allied Underground is a leading Austin-based infrastructure construction firm. The Company provides underground water, wastewater, and storm sewer construction. Allied’s team of managers and field personnel primarily support commercial, educational, and multi-family contractors across the central Texas area.

DiPonio Contracting

DiPonio Contracting is a leading Midwest-based infrastructure maintenance and construction firm. The Company provides both new but predominantly replacement and/or upgrades to aging and existing water, wastewater, and storm sewer systems. The veteran team supports municipal, county and state customers as the primary Contractors across their state. Evolution partnered with the team in June 2022.

Additional investments

Zapata Solar

Zapata Solar is an innovative Texas-based solar development firm, with offices in both Houston and Boston, founded by energy and technology industry veterans, who are creating new approaches to the utility scale solar business. Their first project in Texas is a 145MW solar photovoltaic generating facility under development in the flatlands of Liberty County, about 40 minutes east of Houston. Zapata is expanding our footprint throughout Texas and surrounding states.

Zapata develops higher-value utility-scale solar projects (100MWac and larger) by focusing on select locations throughout the continental US where good transmission access coincides with strong electricity market fundamentals to create highly competitive generating assets. The management team brings with it over 30 years’ experience in wind, solar, oil and gas, and technology development.

Legacy Portfolio

The following represents a sampling of portfolio companies that are
a part of Evolution’s Managing Partner’s professional track record: