Carousel Closes Third Fund

Carousel Capital has closed its third fund with $210 million in capital commitments. The Charlotte, N.C.-based firm acquired small-market profitable companies based in the Southeastern U.S.

 

PRESS RELEASE

Carousel Capital announced today the final closing of its third buyout fund, Carousel Capital Partners III, L.P. (CCP III). With $210 million of equity commitments, CCP III is Carousel's largest fund to date.

CCP III's investor base consists primarily of institutional investors including pension funds, endowments, foundations and financial services companies. In addition, more than 60 CEOs from across the Southeast have invested in the new fund.

With CCP III, Carousel will continue its focus on acquiring small, profitable companies based in the Southeastern United States. Since its inception in 1996, Carousel has invested in 24 companies including AGDATA, Axium Healthcare Pharmacy, Express Oil Change, Jameson, Meineke Car Care Centers, Simpson Performance Products, Soteria Imaging Services and Visador Holding Corporation.

Based in Charlotte, Carousel is led by a team of five partners — Brian Bailey, Charles Grigg, Bill Hobbs, Jason Schmidly and Nelson Schwab.

“We are pleased to represent such a high quality group of investors as we seek investment opportunities for our third fund,” said Brian Bailey. “With our new fund, we will remain focused on partnering with management teams to acquire Southeastern-based companies and delivering industry-leading financial returns to our investors.”

In total, Carousel has now raised more than $500 million of private equity commitments across its three funds.

 

About Carousel Capital

Carousel Capital is a private investment firm that invests in companies located in the Southeastern United States. Carousel's investor base includes institutional investors and a group
of more than 60 current and former CEOs with significant operating experience. Since its inception, Carousel has invested in 24 companies primarily in three targeted growth sectors: business services; consumer products and services; and healthcare services.