Atlas Capital Group
Insights

Letters, essays and field notes.

A working library of how we think — about lower-middle-market investing, about value creation, about the businesses we are privileged to partner with.

A leather journal and fountain pen on a marble desk
Annual letter — hands writing in a leather notebook
Annual letter

What we learned from fourteen acquisitions in five years

Our annual letter to limited partners. A candid look at the deals we got right, the ones we got wrong, and the patterns that have started to emerge in our underwriting and value-creation playbooks.

Marcus Hale, Managing PartnerJanuary 202612 min read
  1. 01What we got right — and the deals we wish we'd passed on
  2. 02How our underwriting has evolved since the first vintage
  3. 03Lessons from operating in two interest-rate regimes
  4. 04Where we are deploying capital next
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Recent writing

6 pieces
Field note

Why the best operators rarely sell to the highest bidder

A reflection on the patterns we see when founders choose a partner. Price matters — but rarely as much as the assurances around culture, employees and continuity.

Priya Raman, Partner
March 2026·6 min read
Essay

AI in private equity: tool, not oracle

How we use AI inside Atlas — and the rules we set ourselves about what AI should never decide. A pragmatic view from a firm that has built a lot of it.

Daniel Okonkwo, Head of Engineering
February 2026·9 min read
Sector view

The opportunity in UK industrial services, 2026

A bottom-up view of why the next decade will be exceptional for well-run industrial-services businesses — and what we look for when we underwrite them.

James Bellamy, Partner
February 2026·8 min read
Field note

How to run a 100-day plan that founders actually want

The first 100 days after closing a deal set the tone for the entire hold. A note from our operating partners on how to do this well — and how not to.

Helen Forsythe, Operating Partner
January 2026·5 min read
Essay

Patient capital in an impatient market

The case for long holds in a world increasingly organized around quarterly outcomes. Why duration is the most underrated source of compound returns.

Marcus Hale, Managing Partner
December 2025·11 min read
Sector view

Vertical software meets the lower middle market

What changes when software businesses serving small and mid-sized customers become institutional-quality assets — and how we underwrite them.

Sofia Marquez, Principal
November 2025·7 min read
The Atlas brief

A short letter, every other Friday.

Three things we read, one thing we wrote, and the deals shaping our sectors. No promotion, never shared.

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Quarterly letter

The Atlas Letter.

A quarterly letter from the partners on what we're seeing across UK and US lower-mid-market — sectors, valuations and the businesses we're backing. No spam. Unsubscribe anytime.

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