Linsalata Capital Partners has raised $427 million for its seventh buyout fund. Linsalata Capital Partners Fund VI, L.P. exceeded its target of $425 million. The fund will focus on consumer products, building products, direct marketing/catalogs, business services, aftermarket products and services, food and beverage, niche apparel, health care services and medical devices, and value-added distribution.
Linsalata Capital Partners, a Clevelandbased
private equity firm, has raised $427 million in equity capital for its seventh
buyout fund, Linsalata Capital Partners Fund VI, L.P. (“LinCap VI”). The fund held its
final close on June 20, 2012, exceeding its target of $425 million. With the closing of
this latest fund, LinCap VI, Linsalata Capital Partners has raised more than $1.3 billion
in equity capital since its inception in 1984.
With more than 28 years of private equity investing experience and more than $880
million currently under management, Linsalata Capital Partners ranks among the oldest
and largest of Ohio-based private equity firms. The firm has a proven track record of
success, having completed 100 acquisitions with returns ranking favorably compared
to industry benchmarks.
LinCap VI is funded primarily by institutional investors, a majority of whom have made
commitments to previous Linsalata Capital Partners’ funds, according to Frank
Linsalata, Chairman and Founder of Linsalata Capital Partners. “Aside from losing our
commercial bank investors now precluded from investing by the Dodd-Frank
provisions, we had 100% participation from our existing institutional limited partners
and are pleased to have added a number of new top quality investors,” noted Linsalata.
Eric Bacon, Co-President and Senior Managing Director, said the latest fund will
continue to leverage the 28 years of experience the firm has in partnering with
management teams in acquiring mid-market private companies with enterprise values
between $50 and $300 million. “With a similarly sized fund we will be able to utilize our
middle market expertise in acquiring and growing companies,” said Bacon. “We are
excited to build on the success we achieved in Fund V, expanding our investments into
Food & Beverage, Health Care and Aerospace and Defense while continuing to build
on our long history in Consumer Products, Building Products, Apparel, Value-added
Distribution as well as other sectors of interest.”
With a team of experienced senior level principals, Linsalata Capital Partners will look
to identify attractive investment opportunities in targeted sectors, develop a strategy
and vision for the business based on growth, and work with the management teams to
realize the full potential of each business. Co-President and Senior Managing Director,
Steve Perry, commented, “While the fundraising process in the current environment
now takes more time and work, we are pleased to have completed Fund VI in just over
a year without engaging a placement agent. Limited Partners are increasingly
discerning today and we are particularly pleased with the support from our existing
blue-chip LPs and the top quality investors we added.”
Linsalata Capital Partners began investing in traditional Midwest-based manufacturing
businesses more than 28 years ago, and has since developed experience in a wide
variety of industry sectors across the United States. Specific industry sectors of interest
for LinCap VI include consumer products, building products, direct marketing/catalogs,
business services, aftermarket products and services, food and beverage, niche
apparel, health care services and medical devices, and value-added distribution.
With the close of the new fund, Linsalata Capital Partners continues to expand. Its
staff, based in Mayfield Heights, Ohio, now numbers 14 investment professionals.
Currently, Linsalata Capital Partners has an ownership position in 14 portfolio
companies with combined annual revenues in excess of $1.0 billion. Additional
information about Linsalata Capital Partners can be found at www.linsalatacapital.com.