Hidden Harbor sets $250 mln target for debut fund

  • Firm led by John Caple, David Block, Chris Paladino
  • Will acquire lower-mid-market companies, but not from other PE sponsors
  • Hidden Harbor based in Fort Lauderdale

A new firm launched by former H.I.G. Capital and Comvest Partners executives set a $250 million target for its debut fund.

Probitas Partners is listed as an associated broker or dealer on the fund, according to a Form D filed on Jan. 11.

The new firm, Hidden Harbor Capital Partners, pursues lower-middle-market North American companies with $50 million to $500 million of revenue and EBITDA of as much as $25 million, its website says.

The Fort Lauderdale, Florida, firm specializes in acquiring underperforming businesses, which may include corporate carve-outs. Hidden Harbor does not seek to acquire assets sold by other financial sponsors.

John Caple, a former partner at Comvest Partners, and David Block, a former H.I.G. operating partner,  launched Hidden Harbor in May. Another former H.I.G. managing director, Chris Paladino, joined the firm as a founding partner earlier this year.

Action Item: For more information about Hidden Harbor, visit www.hh-cp.com

A sand artist paints the sand on Fort Lauderdale, Florida, beach with the NCAA college football 2013 Discover BCS National Championship logo, on Jan. 6, 2013. Photo courtesy Reuters/Mike Segar