in Turnarounds & Special Situations
Midas Atlantic is a private equity firm investing in turnarounds and special situations in the lower & middle market in need of a bespoke solution.

Our focus is on carve-outs/divestitures from corporate sellers that require operational and financial turnaround. We look to drive sustainable value creation across our investments by leveraging a deep bench of operators specific to the opportunity at hand.

Our investment philosophy rests on four distinct pillars, jointly forming our Integral Investing approach to turnarounds and special situations.
Origination
Risk pricing
Financing & monetization
Operational value add
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About us
The opportunities we invest in are often marked by similar challenges & opportunities:

Carve-out complexities, restricted management autonomy on target-level, operating in a non-core geography and operational value-add potential
Up to 10% EBITDA margin (incl. loss making)
Up to $1bn of revenue
Declining/Stagnant/Low growth business trajectory
Industry agnostic: opportunity driven
Control investments
Geography agnostic: focus on US and Europe
Investment criteria
We invest across three types of scenarios that are consistent with our investment criteria
Carve-Outs/Divestitures
Highly integrated or standalone units considered non-core by its public/private corporate parent
Turnarounds
Underperforming businesses in transition, undergoing temporary stress/distress
Special Situations
Orphaned businesses, succession solutions, shareholder disputes, opaque jurisdictions
Transaction types
A transatlantic team complemented by a deep bench of senior advisors, operators and carve-out professionals
Elin Eugeniev
Founding Partner
Philip Frossling
Founding Partner
Francois Garcin
Founding Partner
Louis Hashtroudi
Founding Partner
Team
Midas Atlantic Partners LLC
Houston, Texas, USA
© 2024 Midas Atlantic Partners LLC. All rights reserved
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Elin has spent his career in private equity investing, where he has executed on both growth and value/special situations strategies.

Prior to founding Midas Atlantic, Elin led investments at a private investment company, where he was responsible for both sourcing and managing corporate carve-out transactions across the US and Europe.

Previously, Elin was an Investment Banker at Cascadia Capital, a middle-market independent advisory firm. Elin started his career at LLR Partners, a lower middle-market private equity fund.

Elin graduated from the University of Michigan with a Bachelor of Science in Biochemistry, with a minor in Applied Statistics. He possesses fluency in English and Bulgarian.
Elin Eugeniev
Founding Partner
Philip has 10 years of experience investing in private markets with a focus on carve-outs/divestitures and special situations as well as investment banking.

Prior to founding Midas Atlantic, Philip built out the investment team at a private investment company focused on investing in carve-out opportunities and led investments in the US and Europe.

Previously, Philip worked in investment banking at J.P. Morgan in London covering Northern and Emerging Europe. Previously he worked at Deutsche Bank in London and Carnegie Investment Bank in Oslo and Stockholm.

Philip graduated from the University of Southampton with a Bachelor of Science (BSc) in Management. He possesses fluency in English, German, Swedish and Norwegian.
Philip Frossling
Founding Partner
Francois has over 15 years of experience in private equity, alternative investments, entrepreneurship and special situations investing.

Prior to founding Midas Atlantic, Francois managed several investment businesses including Argenthal Capital Partners, a special situations investor focused on structured private equity and real estate transactions in the US and Europe.

In 2006, he founded Argenthal Group, an investment company focused on financial services, technology and real estate where he closed over $ 1bn worth of special situations investments as lead investor.

Francois graduated from Ecole Polytechnique with a MSc in Technology & Innovation and also holds a MSc in Corporate Strategy & Finance from ESCP. He possesses fluency in English, French, German and Italian.
Francois Garcin
Founding Partner
Louis has over 10 years investing experience across both private and public markets with a focus on value investing and special situations.

Prior to founding Midas Atlantic, Louis built out the investment team at a private investment company focused on investing in carve-out opportunities and led investments in the US and Europe.

Previously, Louis was a Partner at Edengen, an investment manager focused on value and special situation opportunities across both public and private markets. Louis started his career as a Trader at Citigroup in London covering global institutional clients and special situations.

Louis graduated from the University of Southampton with a Bachelor of Science (BSc) in Economics and Management Sciences.
Louis Hashtroudi
Founding Partner