Align Capital Partners LP said Sept. 19 that it closed its inaugural private equity investment fund at its hard cap of $325 million. Align Capital Partners Fund I LP began fundraising in June 2016 with an initial target of $250 million. Fund I will invest in North American-based specialty manufacturing, distribution, and business services companies with less than $10 million of EBITDA. Three longtime Riverside Co buyout executives teamed up to launch Align earlier this year, Buyouts has reported.
CLEVELAND & DALLAS–(BUSINESS WIRE)–Align Capital Partners, LP announced the first and final close of its inaugural private equity investment fund, Align Capital Partners Fund I, LP and Align Capital Partners Fund I-A, LP (collectively, “ACP I”). Align began fundraising in June 2016 with an initial target of $250 million and closed at its hard cap of $325 million.
“We are grateful for the tremendous demand for ACP I from an impressive investor base and appreciative of their support in the successful launch of Align Capital Partners,” said the firm’s Co-Founder Steve Dyke. “Our highly experienced team and focused investment strategy attracted a diverse group of high quality investors in a short amount of time.”
Align Capital Partners’ founders collectively have nearly 40 years of private equity experience and a long history of investment success in the lower-middle market. As a group, the firm’s founders have completed more than 80 investments representing more than $5 billion of enterprise value since 2000.
“The lower-middle market continues to be a very attractive segment,” said Align Capital Partners Co-Founder Chris Jones. “It offers significant opportunities to partner financially and strategically with growing companies to take them to the next level and achieve their growth goals.”
Align Capital Partners plans to invest in North American-based specialty manufacturing, distribution, and business services companies with less than $10 million of EBITDA. ACP I will employ a disciplined, attribute-driven investment focus, targeting investments with company and industry characteristics that Align Capital Partners believes create the optimal setting for value creation and growth. Additionally, Align Capital Partners focuses on investments in which it can establish economic and strategic alignment with management teams, and leverage its team’s deep experience and resources to achieve operational improvements and accelerate growth.
“At Align Capital Partners, we leverage our relationships and network of operating resources to achieve common growth goals with management teams at lower-middle market specialty manufacturing, distribution, and business services companies,” said Align Capital Partners Co-Founder Rob Langley. “We look forward to putting the fund to work and bringing our experience, resources and approach to bear to help build additional value in growing businesses.”
Capstone Partners served as exclusive placement agent for ACP I, and Kirkland & Ellis LLP provided legal counsel.
About Align Capital Partners
Founded in 2016 and headquartered in Cleveland and Dallas, Align Capital Partners is a growth oriented private equity firm that partners with business owners and management teams to create shared success. Align Capital Partners brings experience and resources to help companies accelerate their growth, to the benefit of management, employees, and the firm’s investors. Align Capital Partners makes control investments in growth oriented, lower-middle market specialty manufacturing, distribution, and business services companies. The firm’s founders have extensive experience with these types of businesses, collectively having completed more than 80 investments representing more than $5 billion of enterprise value since 2000. For more information visit www.aligncp.com.
About Capstone Partners
Founded in 2001, Capstone Partners (www.csplp.com) is a leading independent placement agent focused on raising capital for private equity, credit, real assets and infrastructure firms. Its experienced team of 30 professionals, working from offices in North America, Europe and Asia, is well placed to assist investment firms in the international development of their investor base and complete successful fund raisings in a timely and efficient basis across different cycles.