FirePower Capital, a Canadian mid-market private debt and private equity firm, has closed a fund earmarked for investing in lower mid-market companies. The fund’s size was not disclosed. Canadian family offices and other investors provided commitments. It will back five to seven platform companies with an enterprise value of up to C$40 million.
TORONTO–(BUSINESS WIRE)–FirePower Capital (“FirePower”) is pleased to announce the closing of a pool of committed capital earmarked for private equity transactions. FirePower brings an active, entrepreneur-first approach to lower-middle-market transactions requiring creative solutions.
Prominent Canadian family offices close to FirePower as well as existing stakeholders of FirePower committed capital to this limited partnership.
Anthony Lipschitz, Jared Kalish, and Ilan Jacobson lead FirePower’s private equity division. Under their investing and operational leadership, FirePower has bought and sold companies for its own account for years, with portfolio companies such as Last Call Analytics (exited to Ample Organics), Interwork Technologies (exited to Climb Channel Solutions, subsidiary of Wayside Technology Group NSDQ:WSTG), BATL and Konfidis, all growing impressively under its ownership.
The closing of this new committed capital pool is a natural formalization of these activities, and enables a dramatic expansion of them.
“Our vision is to affirm FirePower as a leading Canadian private equity firm,” says Ilan Jacobson, Founding Partner & CEO. “I’ve worked with Anthony and Jared for many years, and am confident in our investment abilities to generate long-term, sustainable returns.”
FirePower aims to build a concentrated portfolio of 5 to 7 platform investments, each with an enterprise value of up to $40 million, and may be larger depending on the circumstances. FirePower is looking to help these companies through a wide range of situations, from complex turnarounds to steady-growth succession transitions. FirePower differentiates itself through its willingness to ‘roll up its sleeves’ and ‘out-work’ other potential investors.
FirePower’s private equity division operates independently from its private debt funds and advisory divisions focused on mergers & acquisitions, corporate finance and big data analytics.
Entrepreneur-first, partnership-driven approach
“At our core is a culture based on the belief that doing what’s right and being there for one another produces better outcomes,” says Anthony Lipschitz, Partner, Private Equity.
“We believe there is a need in the lower-middle-market for an active private equity owner and operator of businesses that entrepreneurs actually enjoy partnering with to grow and to work with on thorny operational issues—not Bay or Wall Street deal guys who only show up at board meetings,” Lipschitz said. “It may sound intangible, but we think there is substantial white space with this approach.”
Recognizing the important role that this pool of capital will play in expanding FirePower’s private equity activities, FirePower wishes to underscore the active support of its investment committee, which includes Sharno Group and Phaze3 Management, as well as of our Advisory Board, all of whom continue to provide invaluable guidance.
About FirePower Capital
Based in Toronto and Montreal, with over 35 professionals, FirePower Capital invests in, lends to and advises Canada’s entrepreneurs by helping them complete mission-critical transactions. Our objective is to become the first resource business owners turn to in the most important times. For more information please visit: www.firepowercapital.com