Boston-based middle market private equity firm Dubin Clark & Company has raised over $100 million for its oversubscribed second fund. The limited partners of DCCP Fund II include endowments, pensions, insurance companies, fund-of-funds, family offices and high-net-worth individuals. NovaFund Advisors assisted with the fundraising while Willkie Farr & Gallagher LLP provided legal counsel.
BOSTON–(BUSINESS WIRE)–Dubin Clark & Company, Inc. (“Dubin Clark”), a middle-market private equity firm founded in 1984, today announced the successful closing of DCCP Fund II, LP (“DCCP II” or the “Fund”) on June 30, 2017. The Fund was oversubscribed and exceeded the $100 million target of total capital commitments. Dubin Clark, with more than $270 million under management, seeks to make control equity investments in U.S. lower middle-market companies in the business services, niche manufacturing, and specialty rental sectors.
Dubin Clark will continue to leverage its reputation for successful partnerships with family-owned businesses, utilizing its Principals’ expertise and network of operational advisors to professionalize and grow lower middle-market businesses. DCCP II successfully raised capital with a cross-section of leading limited partners, including endowments, pensions, insurance companies, fund-of-funds, family offices, and high-net-worth individuals.
“We are pleased with the success of our fundraising effort, and excited to be partnering with some of the most capable, industry-leading institutional investors out there,” said Tom Caracciolo, Managing Partner of Dubin Clark. “Our investors recognized and responded to our ability to source attractive opportunities and create value through both organic growth initiatives and add-on acquisitions.”
“Our approach has always been centered on one fundamental concept – it’s all about people,” said Brent Paris, Managing Partner of Dubin Clark. “We are excited to have an exceptional group of investors who understand the merits of this approach, and look forward to continuing to partner with talented management teams to institutionalize and grow our businesses, and deliver strong investment returns for our limited partners.”
DCCP II has already made four platform investments since its formation (two of which are in the specialty rental sector), and has also completed three add-on acquisitions for its portfolio companies.
BBJ Rentals, Inc., an industry-leading provider of special event linen rental products and services to weddings, social and corporate events nationwide
CE Rental, Inc., a leading full-service special event rental company servicing the Mid-Atlantic region
Advanced Pavement Group Corp., which specializes in the maintenance and repair of commercial parking lots and related areas for property managers and owners of apartment complexes, strip malls and other commercial and retail establishments
Daystar Products International, Inc., an industry-leading automotive performance aftermarket parts manufacturer of lift and leveling kits and component parts for off- and on- road trucks, Jeeps, and multi-purpose vehicles
NovaFund Advisors, a division of its broker-dealer MD Global Partners, LLC, assisted with the DCCP II capital raise. NovaFund Advisors, based in Darien, Connecticut, is an independent private placement and advisory firm founded in 2004 that provides global distribution capabilities. Willkie Farr & Gallagher LLP acted as DCCP II’s legal counsel.
About Dubin Clark
Dubin Clark & Company, Inc., founded in 1984 and headquartered in Boston, Massachusetts (with an additional location in Ponte Vedra Beach, Florida), has consistently partnered with outstanding management teams in building world-class businesses. Dubin Clark is dedicated to creating value by helping its companies grow through a coordinated approach that includes providing the capital necessary to support internal growth, completing add-on acquisitions to build market share, and helping to develop new strategies for the future, while protecting the independence, culture, and values that made the company successful in the first place.
Dubin Clark seeks control equity investments in business services, niche manufacturing, and specialty rental businesses with earnings before interest, taxes, depreciation and amortization (EBITDA) of $2 million to $10 million (smaller for add-on investments). Additional information is available on the firm’s website at dubinclark.com.