SOLACE CAPITAL Partners

is a Sawtelle-based private investment firm that provides flexible debt and equity solutions for lower-middle market businesses.

Solace is an independent firm led by three managing partners who worked together at Oaktree Capital Management near its inception as managing directors for an average of 10 years.

Solace Capital Partners, which was founded in 2013, invests in the industrial, consumer, energy, financial services, technology and telecommunications sectors.

Other investment criteria include companies with sustainable market positions and capable management undergoing transitions or requiring capital to fund their next stage of growth that are generating revenue generally from $50 million to $1 billion.

Investments usually range between $20 million to $100 million.

Solace acquired Sun Mountain Sports Inc., a producer of golf equipment and apparel, last March. Terms of the transaction were not disclosed.

In August, the firm announced the sale of Wilmington-based Patriot Environmental Services Inc., a provider of environmental services and emergency oil spill response, to Heritage-Crystal Clean Inc. for $156 million. Since Solace’s initial investment in 2015, Patriot saw significant growth and its revenue and earnings nearly tripled. In that time, the company opened eight environmental services offices and expanded vertically into waste disposal.

Companies in Solace’s portfolio include furniture distributor Abbyson Living, service provider Axis Energy Services and architectural design company CST Designs.