/Investor DB

Goldner Hawn

Private equity

Minneapolis · Growth · 22 people tracked

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Investment thesis

Goldner Hawn takes a patient, long-term approach to investing, aiming to build sustainable growth rather than scaling for its own sake. The firm positions itself as a partner to business owners and management teams, providing strategic guidance drawn from experience across many sectors and cycles. It favors aligned incentives, inviting management to invest on the same terms, and structures straightforward transactions with prudent, non-aggressive use of leverage. Growth is supported by investing in the human capital, technology, systems, processes, and infrastructure needed to scale. The firm concentrates on sectors where it brings the greatest value—specialty manufacturing, value-added distribution, consumer products, and business services—often tapping its networks for additional strategic insight.

Source: firm website, verified Sep 29, 2026.

Stage
Growth
HQ
Minneapolis, MN, US
Instruments
Equity · Debt
Founded
1989
AUM
$898.9M
Tracked investments
52

Team · 22 people

from the firm's website & public directories
Van Zandt Hawn

Co-founder of Goldner Hawn, established in Minneapolis in 1989.

Chadwick M. Cornell· Executive Officer

What they invest in

from 5 of 52 portfolio companies

Enterprise Software ×3Advanced Manufacturing ×2SaaS ×2AgTech ×1Cloud Computing ×1Construction Tech ×1Cybersecurity ×1Data & Infrastructure ×1

HQs:United States×5

Investments · 52 tracked

founders shown can be your intro path
Cyber Advisorscyberadvisors.comin𝕏

Fortinet develops network security infrastructure including firewalls, secure access platforms, and AI-powered threat protection services for enterprise and hybrid organizations.

Cloud ComputingCybersecurityData & InfrastructureEnterprise SoftwareSaaSSalt Lake City, US

Co-investorsSterling Investment

Michael Foodsmichaelfoods.comin𝕏

Michael Foods is a food industry company that provides advanced technologies, processes, and research capabilities to food professionals and consumers.

Advanced ManufacturingAgTechFoodTechNew England, US

Co-investorsVestar Capital Partners

North America Central School Busnorthamericacentral.comin

North America Central operates school bus transportation and maintenance services for school districts, managing vehicle fleets, driver operations, and student transportation logistics.

Logistics & Supply ChainMobility & TransportationJoliet, US

Jason Walker(Chief Executive Officer)in

Co-investorsH.I.G. Capital

Renovation Systemsrenovationsystems.comin𝕏

Renovation Systems provides integrated property renovation technologies and services for the multifamily housing industry, coordinating unit turnovers through a network of specialized subcontractors and internal processes.

Construction TechEnterprise SoftwarePropTechSaaSMinneapolis, US

Ryan Comer(Founder)in

Trystartrystar.comin𝕏

Trystar designs and manufactures power distribution equipment, cable and generator docking stations, and custom electrical solutions for enterprises across data centers, manufacturing, healthcare, construction, and emergency response sectors.

Advanced ManufacturingEnergyEnterprise SoftwareHardwareFaribault, US

AJ Smithin

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

Adherex GroupAllen EdmondsAmerican Engineered ComponentsAmerican LockApplied AdhesivesArmor Animal HealthBankers SystemsByerly’sCameron’sClaire-Sprayway Inc.Concept Advanced Manufacturing SolutionsControl DevicesCrescent Sleep ProductsCTM GroupDeltakHartzell ManufacturingHavco Wood ProductsHoulihan’s RestaurantsImperial PlasticsJacobson Machine WorksKnutson MortgageLancaster LaboratoriesLone Star Environmental CompaniesMark VII EquipmentMatrix AdhesivesMid America EntertainmentMid Valley IndustriesMidas FoodsNexterra EnvironmentalPetermann Bus CompanyQuest EventsRemmele EngineeringSamuel Lawrence FurnitureSpecialty CommoditiesStellarSteven LabelStouseTerra FirmaTransport AmericaUnion Metal CorporationUniversal Turbine PartsVICORP RestaurantsVitality FoodserviceWestern Reserve ProductsWestlake HardwareWilson’s LeatherWoodcraft Industries

Fund performance · per public LP disclosures · 2

as of Dec 2025
FundVintageCommittedNet IRRTVPIDPI
Goldner Hawn VIIILPs: Minnesota State Board of Investment2023—8.4%1.15x0.00x
Goldner Hawn Fund VII, L.P.LPs: Minnesota State Board of Investment2018—26.0%2.05x1.03x

Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).

Frequently asked questions

How many investments has Goldner Hawn made?
Goldner Hawn has 52 tracked investments.
What stage does Goldner Hawn invest at?
Goldner Hawn invests at the Growth stage.
What sectors does Goldner Hawn focus on?
Goldner Hawn focuses on Advanced Manufacturing, Consumer, Logistics & Supply Chain.
Where is Goldner Hawn located?
Goldner Hawn is headquartered in Minneapolis, US.
Who does Goldner Hawn co-invest with?
Goldner Hawn most often shares deals with Brentwood Associates, H.I.G. Capital, Sterling Investment, among 4 tracked co-investors.

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