Key Takeaways
- • Banner Capital hired McKay Potter as principal, strengthening its investment team as the Utah-based firm scales its second fund and deploys capital from approximately $630 million in assets under management as of December 31, 2025.
- • Potter brings institutional investment experience from Tower Arch Capital (where he served as vice president), Bain & Company, and L.E.K. Consulting, with demonstrated expertise in founder-owned and family-owned business acquisitions.
- • In his new role, Potter will lead sourcing, transaction execution, and portfolio value creation for Banner's core service-sector focus, targeting control investments in companies with $4 million to $15 million of EBITDA across the Western United States.
- • Banner Capital has completed 16 transactions since its 2020 founding and maintains dual offices in Lehi, Utah (headquarters) and Phoenix, positioning the firm as an active middle-market operator in the Western U.S. lower-middle-market segment.
Summary
Banner Capital, the Utah-based lower-middle-market private equity firm, has appointed McKay Potter as principal in a strategic hiring move aligned with the firm's capital deployment phase. Potter joins Banner from Tower Arch Capital, a Salt Lake City-based PE firm where he held the rank of vice president and focused on sourcing, executing, and managing control investments in founder-owned businesses within business services and industrials sectors. His earlier career included advisory roles at both Bain & Company and L.E.K. Consulting, establishing a track record in deal evaluation and portfolio optimization at institutional firms.
Banner Capital, founded in 2020 and headquartered in Lehi with an additional office in Phoenix, focuses on control investments in founder-led and family-owned businesses across the Western United States. The firm targets companies generating between $4 million and $15 million in EBITDA, predominantly in service sectors. As of December 31, 2025, Banner manages approximately $630 million in assets under management and has successfully completed 16 transactions since inception, demonstrating an active deployment track record over its five-year operating history.
In his new position, Potter will lead sourcing activities, transaction execution, and portfolio value creation initiatives, concentrating on Banner's defined service-sector focus and Western U.S. geographic footprint. The addition of Potter's expertise arrives as Banner Capital scales operations and actively deploys its second investment fund, signaling continued institutional capital availability and market opportunity identification within the lower-middle-market control segment where management depth and deal flow capability are critical competitive advantages.
Banner Capital, founded in 2020 and headquartered in Lehi with an additional office in Phoenix, focuses on control investments in founder-led and family-owned businesses across the Western United States. The firm targets companies generating between $4 million and $15 million in EBITDA, predominantly in service sectors. As of December 31, 2025, Banner manages approximately $630 million in assets under management and has successfully completed 16 transactions since inception, demonstrating an active deployment track record over its five-year operating history.
In his new position, Potter will lead sourcing activities, transaction execution, and portfolio value creation initiatives, concentrating on Banner's defined service-sector focus and Western U.S. geographic footprint. The addition of Potter's expertise arrives as Banner Capital scales operations and actively deploys its second investment fund, signaling continued institutional capital availability and market opportunity identification within the lower-middle-market control segment where management depth and deal flow capability are critical competitive advantages.
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