Founder & Managing Partner.

Gregory Spears is the Founder and Managing Partner of Replay Equities. He established the firm to acquire and build enduring lower-middle-market businesses, working directly with owners and management teams over long ownership horizons.

His background is operational and commercial. He has spent his career inside technology and software businesses in customer success, commercial, and revenue-facing roles — working closely with the people who run companies, understanding how they buy, where their processes break, and what actually improves retention, efficiency, and margin.

That experience shapes how Replay Equities invests: underwriting real cash flow rather than projections, respecting what an owner has already built, and improving businesses through systems, technology, pricing discipline, and commercial execution rather than financial engineering.

Replay Equities is newly established and is preparing to complete its first acquisitions.