Dos Rios Partners has reached a first close of Dos Rios Partners LP as well as the receipt of its Small Business Investment Company license. The fund has received commitments of $150 million.
Dos Rios Partners announced today the initial closing of Dos Rios Partners, LP (the “Fund” and “Dos Rios”) as well as the receipt of its Small Business Investment Company (“SBIC”) license. As a result, the Fund has received commitments approximating its total-capital target of $150 million.
Dos Rios is a Texas-based private equity partnership formed by four Partners – Bo Baskin, Wayne Patterson, Jay Turner and Kevin Benoit. Dos Rios invests in the junior (i.e. common, preferred and/or mezzanine) securities of proven, growing niche businesses with approximately $2.0 – $8.0 million in EBITDA, generally alongside strong, motivated management teams. Dos Rios can help these small businesses with either control or non-control transactions.
“Dos Rios” refers to two great rivers – the Mississippi and the Rio Grande. These great rivers and the Gulf of Mexico, into which these rivers flow, cradle the six-state regional niche on which we focus (encompassing Texas, Arkansas, Colorado, Louisiana, New Mexico and Oklahoma). This area constitutes the country’s fastest growing region.
Dos Rios’ four Partners have 117 years of relevant experience, including experience working for large world-class companies (e.g. Goldman Sachs, JP Morgan, KPMG, Keystone International, etc.), experience as C-level executives of rapidly growing small businesses and experience as private equity investors in small businesses. This reservoir of deep experience has enabled the partners to help small, already-proven, businesses achieve a materially higher level of profitability and growth.
The Partners have strategically positioned themselves in three major metropolitan areas and five major cities (i.e. Austin/San Antonio, Dallas/Fort Worth and Houston). These cities are the largest cities in the six-state region, five of the sixteen largest cities in the country and five of the eleven fastest growing large cities in the country. The partners have deep, life-long roots in this region.
The Partners currently expect to conduct one additional close.