Boyne Capital Partners has raised $126 million for its inaugural fund, beating its $100 million target. BCM Fund I’s limited partners include insurance companies, fund of funds, family offices and individuals. The fund will focus on the lower middle market sector, specifically companies with revenues of less than $100 million and an EBITDA of $2 million to $10 million.
MIAMI–(BUSINESS WIRE)–Boyne Capital Partners (“Boyne” or the “Firm”) announced the recent closing of BCM Fund I (“Fund”) with $126 million of total capital commitments, surpassing the original target of $100 million. The Fund includes select limited partners representing insurance companies, fund of funds, family offices and individuals. The Fund targets investments in the lower middle market sector, specifically companies with revenues of less than $100 mm and with EBITDA of $2 mm to $10 mm.
Boyne Managing Partner, Derek McDowell, commented, “We are pleased with the successful and rapid fund raise, having completed the process in less than a year. We are grateful to our existing LPs who supported us in our first institutional capital raise and whose support has been critical to the growth and success of our firm. We remain committed to investing in the lower end of the middle market and believe this fund enhances our ability to execute on our investment strategy in a disciplined and focused manner.”
Boyne has already consummated the first two platform investments for the Fund. The most recent transaction was the acquisition of AmeriBest Home Care, Inc., a senior homecare company based in Pennsylvania.
Boyne Capital Partners is a Florida-based private equity firm focused on investments in lower middle market companies. Founded in 2006, Boyne has successfully invested in a broad range of industries, including healthcare services, agriculture, consumer products, niche manufacturing, and business & financial services among others. Beyond financial resources, Boyne provides industry and operational expertise to its portfolio companies and partners with management to drive company performance and growth. We specialize in providing the capital necessary to fund corporate growth and facilitate owners and shareholders’ partial or full exit; approximately 50% of our transactions have been recapitalizations of owner operated businesses with the remainder being corporate divestitures, restructurings or special situation opportunities. For more information, visit www.boynecapital.com.