Clearview Capital, a lower middle-market private equity firm based in
Clearview Capital today announced the final closing of its first institutional private equity fund, Clearview Capital Fund II, LP, which was completed on March 31, 2008. The fund closed with $250,000,000 of capital, well in excess of its $200,000,000 target.
“With the completion of this fund raising we can now focus all of our efforts on finding, acquiring and developing great lower middle market businesses,” said Calvin Neider, Clearview's co-Managing Partner. “By putting in place committed capital and by reaching our hard cap, we have dramatically improved our ability to support all of Clearview's investing efforts.”
The majority of the Fund's capital was provided by institutional investors, but also comprises many of Clearview's original individual and wealthy family backers, who have been a great part of the firm's success since its founding in 1999. Notable institutional investors include several accounts managed by Credit Suisse, RCP Advisors, Hartford Investment Management, Muller Monroe Asset Management, New York Life, National City Equity Partners, Portfolio Advisors, Equity Partners GmbH and 747 Capital.
“We are very pleased with our investor base which consists of a balanced mix of individual, institutional and overseas investors,” said James G. Andersen, Clearview's co-Managing Partner. “In addition to high quality and well-respected institutional investors, we are fortunate to have the continued support of a broad group of individuals and families who have provided us excellent insight and advice over the past nine years.”
Fund II has already completed three platform and three add-on investments and expects to maintain an aggressive investing pace. The portfolio consists of Hettinger Welding, a provider of welding and facilities construction services for customers building natural gas infrastructure in the
With this pool of committed capital Clearview will continue its longstanding strategy of investing alongside management to acquire and develop established middle market companies that have cash flow between $4 million and $20 million.
Atlantic Pacific Capital served as placement agent for the fund.
Clearview's holdings include Air Cooled Exchangers, a leading manufacturer of air-cooled heat exchangers; Hettinger Welding, a leading provider of pipeline and facilities construction and maintenance services for customers building natural gas infrastructure; Rowmark, a manufacturer and marketer of specialty plastic sheet and related products for the awards/recognition, engraving and signage markets; Twinco Romax, a vertically integrated manufacturer and distributor of automotive fluids sold through retail channels; Senior Care Centers of America, an operator of adult day care centers; M.H. Zeigler & Sons, the country's leading manufacturer of refrigerated apple cider; Hillsdale Furniture, a designer and importer of wood and metal furniture; and a minority interest in Compression Polymers Group, the leading extruder of thick gauge polyolefin and PVC sheet, including AZEK