Fireman Capital Partners, a Boston-based shop founded by ex-Reebok chief Paul Fireman, is hopping into the long line of private equity firms considering a 2010 fundraise. The investment thesis is control investments in small/mid-cap consumer companies, with an emphasis on growth potential (i.e., not turnarounds).
Fireman is currently investing out of a $60 million friends-and-family fund, which is being supplemented by an undisclosed amount of additional capital from the Fireman family. Paul is not involved in the operational day-to-day (his official title is chairman), but is expected to work regularly with portfolio companies on strategy (he’s apparently spent a bunch of time with Hudson Jeans, which is the firm’s first consumer investment). His son Dan is one of the firm’s three partners, while there also are a pair of directors and a slew of operating partners. One of those operating partners, Stacy Madison (Stacy’s Pita Chip Co.) sourced the Hudson Jeans deal.
The plan is to launch an institutional fundraise next year, so long as the markets improve and Fireman is able to close on a couple more transactions in 2009 (it’s about to buy a small accessories company, and is looking at an advertising biz). Fireman Capital also has a real estate practice, but has “put the pencil” down until the market rights itself.
By the way, Fireman Capital’s website is… ummm… different than the typical PE fare.