Frost Capital Group was a merchant banking firm which acted as an equity sponsor for management buyouts. The firm differentiated itself from competing equity sponsors in the lower middle market through equity principal, investment banking and lending experience. It preferred to acquire primarily manufacturing, distribution and business services companies. It also had contacts with cash flow and asset-based lenders of senior debt and providers of subordinated or mezzanine debt. It was founded in 1994 and was based in New York, New York.