Craig Dupper, an ex-Solis Capital Partners executive, launched Elan Growth Partners to focus on investments in manufacturing, software, business services and food. Elan closed an initial fundraising round that was offered to select investors. The firm did not disclose how much it raised. Another ex-Solis executive, Max Young, will join Dupper on May 1.
Elan Growth Partners, LLC (“Elan” or the “Firm”) announced its successful launch on April 2, 2018. The launch was accompanied by the closing of a round of initial funding that was oversubscribed, despite its limited offering to select investors with longstanding prior relationships. Elan is founded by Craig Dupper, a long-time Southern California investor who spent the last 16 years investing through two funds at Orange County-headquartered Solis Capital Partners, LLC (“Solis”). Max Young, who worked with Craig at Solis, will join Craig in Elan’s new Carlsbad offices on May 1.
“In an increasingly commoditized capital environment, Elan’s partnering philosophy, extensive experience and access to human capital and other resources, set us apart from alternatives that simply provide capital at close,” said Craig Dupper, Founder and Managing Partner. “By bringing capital and these valuable non-financial resources to our partnerships, we enable company owners to achieve their business and personal objectives, while generating consistent returns for our investors.”
Elan seeks to partner with companies generating $1 – $6 million of earnings before interest, taxes, depreciation and amortization (“EBITDA”), operating in the manufacturing, niche software, business services and food sectors. In addition to providing capital, the Firm provides active mentorship to its partners and collaboratively tailors solutions for succession planning, family-owned business transitions, accelerated organic growth and strategic acquisitive growth, among others.
“Elan solves an unsatisfied need that exists for Southern California businesses,” said Max Young, Principal. “Our Southern California focus encompasses San Diego to Ventura counties, a region that is dense with lower middle market companies but lacks sufficient value-added capital partners. According to the US Small Business Administration, there are nearly 49,000 companies in Southern California with 20 to 500 employees, outnumbering the region’s local private equity firms 300 to 1.”
About Elan Growth Partners
Headquartered in Carlsbad, California, Elan Growth Partners invests in lower middle market companies operating in the manufacturing, niche software, business services and food sectors that seek to accelerate growth and unlock embedded enterprise value. Investing $5-25 million of equity per transaction, the Firm helps businesses evolve to the next level. For more information about Elan, please visit www.elangrowth.com.