Building value through partnership.

Meritas Equity Partners is a private equity independent sponsor investing in real estate and lower middle-market companies across Western New York. We source, structure, and deploy capital — then work alongside management teams to get results.

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0Units — Waterford Townhomes, Clarence Center, NY
0Units — The Lawrence, across from Buffalo Niagara Medical Campus
$2–10MTarget EBITDA range for lower middle-market partners
0Of annual profits committed to WNY education & workforce development

Three ways we put capital and expertise to work.

Every engagement starts the same way — understanding what a business or asset actually needs to reach its potential, then building a structure that gets it there.

Middle Markets PE

We partner with owners of established Upstate NY businesses generating $2M–$10M in EBITDA, combining strategic planning, operational expertise, and access to capital.

See target sectors →

Real Estate

We pursue multifamily and mixed-use assets — both development opportunities and stabilized acquisitions — where operational execution can unlock real value.

See our projects →

Advisory Services

Private equity rigor for business owners who want an investor's perspective on growth, operations, and leadership — without giving up equity.

See how we help →
01 — Middle Markets Private Equity

A positive, lasting impact on Upstate NY businesses.

We leverage teamwork and a deep combination of operational, financial, and capital markets expertise to drive long-term growth for the businesses we acquire, their employees, and the Upstate New York economy.

Who we partner with
Owners of established businesses typically generating $2M–$10M in EBITDA.
How deals are structured
Our deal structures align incentives for the management team and our investors.
How we evaluate opportunities
  • Sector-agnostic — we evaluate the strength of the business and team first, not the industry label
  • Operator-led — our partners have held executive seats at firms ranging from 5 to 1,000 employees
  • Range of scale — experience spans pre-revenue start-ups to business units generating over $1 billion in revenue
02 — Real Estate

Multifamily and mixed-use, built for the long term.

We pursue multifamily and mixed-use assets, targeting both development opportunities and stabilized acquisitions where we can unlock value through operational execution and strategic repositioning.

77

Waterford Townhomes

Clarence Center, NY — with Symphony Property Management
132

The Lawrence

Buffalo, NY — across from the Buffalo Niagara Medical Campus
Target opportunities

Multifamily and mixed-use development projects, as well as stabilized properties with strong long-term fundamentals.

03 — Advisory Services

Private equity rigor, without giving up equity.

Meritas provides business consulting and fractional C-suite resources (CRO, COO, CFO). We help clients grow, build strong operational foundations, develop leadership, allocate capital, and define and execute on related milestones.

Sample advisory services
Services provided
Business ConsultingManagement Consulting Financial ConsultingMarketing Consulting Commercial Real Estate
Availability & pricing
Availability
Remote or in person (Buffalo, NY)
Pricing
Contact for pricing
About our team

Two partners. One approach.

Shawn Pearce

Shawn Pearce

Partner

Shawn is a Partner with more than 15 years experience in finance and markets, building and operating businesses, and consulting. Before Meritas, Shawn spent 12 years working at Bank of America Merrill Lynch in New York City and Santiago, Chile. His most recent role at BofA was Managing Director and Global Chief Operating Officer for BofA's Fixed Income, Currencies, and Credit Emerging Markets (FICC EM) business. FICC EM's physical offices are located in 15 countries and include 1,000 employees including 200 front office personnel and 800 supporting team members generating more than $500 million in annual pretax profit. As Global COO, Shawn played a key role in strategy, technology development, expanding global market access, and interacting with global regulators.

Prior to Shawn's COO role, he spent nine years trading derivatives at BofA. He was Managing Director and Head of Trading for Chile, Colombia, Argentina, and Peru. He managed significant VaR, made markets in interest rate and foreign exchange derivatives, and worked on dozens of large structured transactions. Shawn also played a key role in funding business growth, building capabilities including BofA's presence in Chile, counterparty credit risk management, and deepening client relationships in major financial centers around the world.

Prior to his time at Bank of America, Shawn's role as Senior Consultant at KPMG focused on strategy and risk management consulting in the energy industry including stints in Houston, San Francisco, and New Delhi, India. He started his career as a junior interest rate derivatives trader at AIG Trading Company in London, England. Shawn and his wife also own a vineyard in Argentina and produce wines under the Familia Vicente Pearce label.

Shawn is a strong believer in educational opportunities for the underprivileged and is a consistent supporter of the cause in WNY. Shawn received a Masters from Columbia University in International Affairs with a dual concentration in International Economic Policy and Latin American Studies. He holds a B.S. in Business and Minor in Economics from Wake Forest University, and a certification in Winemaking from the University of California at Davis.

Spencer Farrell

Spencer Farrell

Partner

Spencer brings experience as both an operator and investor, spanning private equity, sales leadership, and business operations. Before co-founding Meritas, he worked in private equity, partnering with management teams to accelerate growth. Earlier, he served as Chief Revenue Officer at a global software company, leading revenue generation and international go-to-market execution. He is an active investor in early-stage ventures and real estate projects in Western New York, and serves on multiple boards, including as President of the Canisius High School Board of Governors. He holds a B.S. in Finance and an MBA from Niagara University.

Philosophy & Values

Discipline with purpose.

The name Meritas is derived from two principles — reflecting our belief in building businesses with both rigor and responsibility.

Merit The pursuit of excellence

Merit means our firm focuses on companies with commendable qualities, and our goal is to achieve excellence in every engagement.

Caritas Latin — charity

Caritas is our commitment to care, responsibility, and giving back to the communities where we invest.

Partnership

True success comes from aligned incentives and shared vision.

Discipline

We rely on rigorous analysis and execution.

Growth

We seek to unlock the full potential of people and businesses.

Integrity

Transparency and accountability guide every decision.

Commitment to Community. Meritas is dedicated to reinvesting in the community — we commit a portion of our profits to education and workforce development initiatives in Western New York, ensuring our success creates opportunity for others.
News & Updates

What we've been working on.

Q3 2026 Our first tenants moved into The Lawrence on June 1st — the majority are healthcare professionals working at the neighboring hospitals.
Q3 2025Meritas explores lower middle-market investment opportunities in Upstate NY.
Q2 2025Waterford Townhomes development progresses in Clarence Center, NY.
Get in touch

Let's talk about your business, deal, or property.