Greenwich, Connecticut-based Brynwood Partners, a private equity firm focused on lower middle market companies in the consumer products sector, has closed its eighth fund at $649 million. Locke Lord LLP provided legal counsel for the fund. In 2013, Brynwood raised $420 million for its seventh fund.
GREENWICH, Conn., Jan. 22, 2018 /PRNewswire/ — Brynwood Partners, an operationally-focused private equity firm that exclusively makes control investments in lower middle market companies in the consumer sector, is pleased to announce that it has completed the final close of its latest fund, Brynwood Partners VIII L.P. with $649 million of committed capital.
“We are both pleased and proud to announce the final close of Brynwood VIII with $649 million of committed capital, the largest fund in our 34-year history,” said Hendrik J. Hartong III, Chairman and Chief Executive Officer. “The high level of interest in our newest fund from the investment community validates our belief that returns in the lower middle market are primarily driven by operational improvements at the portfolio company level. We look forward to continuing to target our investment activities exclusively in the consumer sector where Brynwood Partners’ investment professionals have significant hands-on operating experience and we can leverage these experiences throughout all phases of the investment process to create shareholder value for our limited partners.”
“We are proud to announce that David A. Eagle, Vipul B. Soni and Peter B. Wilson, Jr. have all been promoted to Managing Directors,” said Mr. Hartong III. “Their collective promotions are both well-earned and deserved as David, Vipul and Peter have all made strong contributions to Brynwood Partners and our portfolio companies.”
“We are grateful for the support that our existing limited partners continue to give to us and we welcome several new limited partners to the Brynwood Partners’ family,” said Ian B. MacTaggart, President and Chief Operating Officer. “Our two-month, oversubscribed fundraising process is the fastest in Brynwood Partners’ history and we could not have achieved such success without the strong support from our limited partners. We look forward to investing Brynwood VIII’s capital and executing the same investment strategy that has made Brynwood Partners so successful over the years.”
Brynwood Partners is actively pursuing new platform investments for Brynwood VIII and will continue to work to maximize investment returns for its remaining investments in prior funds. “We will continue to evaluate add-on acquisition opportunities for our three portfolio companies in Brynwood Partners VII L.P. and will be seeking new platform investment opportunities for Brynwood VIII,” said Mr. MacTaggart.
Brynwood VIII engaged Locke Lord LLP as its legal counsel.
About Brynwood Partners:
Founded in 1984 and based in Greenwich, CT, Brynwood Partners is an operationally-focused private equity firm that makes control investments in lower middle market companies. The firm targets non-core brands or companies operating exclusively in the consumer sector.
Brynwood Partners is currently managing over $1.1 billion of private equity capital for its limited partners, which include U.S. and international pension funds, fund-of-funds, endowments, high net worth family investment offices and financial institutions.
Brynwood Partners VII L.P., a $420 million fund raised in 2013, currently has three active portfolio company investments: Joseph’s Gourmet Pasta Company, Harvest Hill Beverage Company and Cold Spring Brewing Company. Brynwood Partners VI L.P., a $306 million fund raised in 2008, has one remaining portfolio company, Pearson Candy Company.
For more information on Brynwood Partners and its portfolio company investments, please visit www.brynwoodpartners.com.