Canadian private equity firm Ironbridge Equity Partners has wrapped up its third fund, Ironbridge Equity Partners III LP, in a single close. The oversubscribed fund raised its hard cap target of $238 million, surpassing an original target of $200 million, with the help of institutional and individual investors based in Canada, the United States, the United Kingdom, and the Middle East. Fund III’s close comes roughly two years after the raise of Ironbridge Equity Partners II LP in April 2014. Fund III exceeded by 55 percent the $154 million in capital committed to Fund II. Toronto-based Ironbridge invests in lower mid-market companies in a range of industries.
Ironbridge completes the first and final closing of oversubscribed Fund III at CAD $238 million hard cap
TORONTO, May 3, 2016 – Ironbridge Equity Partners (“Ironbridge”) today announced that it has completed the first and final closing of its third private equity fund, Ironbridge Equity Partners III, LP (“Fund III” or the “Fund”). Ironbridge raised CAD $238 million from investors in Canada, the US, the UK and the Middle East, and surpassed its target of CAD $200 million. Fund III represents a 55% increase in capital from the predecessor vehicle, Ironbridge Equity Partners II, LP (“Fund II”) which had its final closing in April, 2014. Oversubscribed by institutional investors, the Fund closed at its hard cap within three months of launching and brings Ironbridge’s assets under management to over CAD $400 million.
Alan Sellery, Managing Partner of Ironbridge commented, “We are very pleased with the support we received from our existing investors, many of whom have materially increased their commitments to Fund III. We would also like to welcome our new investors to the Fund, and look forward to creating long-term relationships with these institutions and individuals. With the new Fund, we will continue to execute the same successful investing strategy that we have pursued since our founding in 2005: partner with exceptional management teams to facilitate owner-operator transitions, corporate carve-outs, turnarounds and growth financings in the Canadian lower middle-market.”
Ironbridge invests in a broad range of industries including manufacturing, distribution, and consumer and business products and services. Ironbridge’s nine investment professionals have extensive financial and operating experience, and work closely with the management teams of its portfolio companies to enhance value.
Elm Capital acted as the exclusive placement agent for the Fund.
For more information, contact:
Ironbridge Equity Partners
+1 (416) 863-0101
Elm Capital Associates Ltd
Elm Capital USA Ltd
+44 20 7901 8941
Photo courtesy of Reuters