LonguVue Capital has closed its oversubscribed third fund at $252 million. LonguVue Capital Partners III LP will focus on the lower middle market. The fund’s limited partners include The University of Texas Investment Management Company.
NEW ORLEANS, March 30, 2017 /PRNewswire/ — LongueVue Capital (“LVC”), a New Orleans-based private equity firm, today announced the final closing of LongueVue Capital Partners III, L.P. (“LVC III” or the “Fund”). Building upon the track record of LVC’s predecessor funds, LVC III will focus on private equity investments in lower middle market companies across a variety of industries.
In launching the Fund, LongueVue Capital welcomed new institutional investors into the partnership, including The University of Texas Investment Management Company (“UTIMCO”). In addition to the final closing, LVC is pleased to announce the Small Business Investment Company (“SBIC”) licensure of LVC III. The Fund was oversubscribed and closed at its hard cap of $252 million, including SBIC leverage.
LongueVue Capital focuses on growth-oriented businesses generating over $3 million of EBITDA and up to $150 million of annual revenue. The firm partners with strong, entrepreneurial management teams seeking both capital and a proactive partner to help a business achieve its growth objectives. The LongueVue Capital team works closely with portfolio companies to create value by implementing growth strategies and driving operational improvements. Historically, LVC has made successful investments in business services, transportation and logistics, healthcare, energy services, and niche manufacturing.
“We are delighted to announce the closing of LVC III and are grateful for the confidence placed in us by both our returning and new limited partners,” said Rick Rees, Co-founder and Managing Partner of LongueVue Capital. “We are thrilled to have UTIMCO and a number of other value-add limited partners as members of the LVC family. The lower middle market is an attractive sector for private equity investment, and we look forward to leveraging our strong track record and our value-oriented approach to identify exceptional opportunities to deploy capital.”
“Our complementary partnership with the U.S. Small Business Administration through the SBIC program enables LVC III to provide creative deal structures to entrepreneurs seeking growth capital,” said John McNamara, Co-founder and Managing Partner of LongueVue Capital. “We believe our investment approach and team are uniquely suited to address the challenges and opportunities facing lower middle market entrepreneurs. We look forward to working closely with our management teams to build great companies.”
In preparation for launching the new fund, LongueVue Capital has enhanced its back office and expanded its team to include nine investment professionals.
About LongueVue Capital:
LongueVue Capital is a private equity firm focused on making situation-driven, value-oriented equity and debt investments in lower middle market companies (up to $150 million in annual revenue) to support buy-outs, recapitalizations, acquisitions and growth. LVC currently has $425 million under management across two funds. Since its formation in 2001, LVC has made successful investments in a wide variety of industries, including business services, transportation and logistics, healthcare, energy services, and niche manufacturing. LVC is based in New Orleans with additional offices in New York and Salt Lake City. For more information, please visit www.lvcpartners.com.