Sunday, 14 February 2016
Last updated 1 day ago
Dec 9 2013 | 4:54am ET
New York-based private equity firm High Road Capital Partners has raised $320 million for its second fund, well in excess of its $200 million target and twice the size of its predecessor fund.
High Road’s capital base comprises more than 25 institutional investors, family offices, and high-net-worth individuals. The firm raised High Road Capital Partners Fund II in less than 12 months and without the use of a placement agent.
“Fund II will follow our proven and successful strategy of acquiring well-performing companies in the U.S. and Canada with $3 million to $10 million in EBITDA and adding value through organic growth initiatives and complementary add-on acquisitions, and operational improvements,” said Robert Fitzsimmons, co-founder and managing partner of High Road.
To date, High Road has completed two platform acquisitions and one add-on acquisition for Fund II: The Crown Group, which acquired Electra-Finish, Inc., and SMB Machinery Systems. Since its founding in 2007, High Road has completed 27 transactions, comprising 25 acquisitions – 11 platform investments and 14 add-on acquisitions – and two exits.
High Road was formed in 2007 and manages over $470 million of committed capital.