Milestone Partners Closes Fund with $300M

Milestone Partners has closed its latest fund, Milestone Partners IV, L.P., with total commitments of $300 million. The fund is a 25% uptick over its previous vehicle. In connection with the new fund, the firm promoted John Nowaczyk to Partner and Dan Ryan to Principal and Head of Business Development.

Milestone Partners (“Milestone”) is pleased to announce the final closing of Milestone Partners IV, L.P. (“Milestone IV”) with total commitments of $300 million, representing a 25% increase over its predecessor fund, Milestone Partners III, L.P. (Milestone III). Milestone is also pleased to announce the promotions of John Nowaczyk to Partner and Dan Ryan to Principal and Head of Business Development.

Milestone IV’s limited partners include a diverse base of institutional investors, family offices and individuals. Most of the Milestone III limited partners made commitments to Milestone IV and Milestone IV secured new commitments from various domestic, European and Middle Eastern institutions. Capstone Partners served as exclusive global placement agent for Milestone IV and Weil, Gotshal & Manges LLP served as legal counsel.

During the fundraising period, Milestone IV deployed $71 million (gross), completing four acquisitions, including:

Machine Laboratory, a Kansas manufacturer of ultra-high precision components;
Image API, a Florida business services provider to state and local government agencies;
Martex Fiber, a South Carolina manufacturer of recycled textiles; and
Southern Management, a South Carolina provider of consumer installment loans.

John Nowaczyk has been promoted to Partner. He will continue to lead transactions and serve on Milestone’s Investment Committee. Mr. Nowaczyk joined Milestone in 2007, having previously worked at Kidder, Peabody & Co., PaineWebber and Legg Mason Wood Walker.

Dan Ryan has been promoted to Principal and Head of Business Development. He will continue to lead Milestone’s deal sourcing efforts and will oversee Milestone’s lender relations function. Mr. Ryan joined Milestone in 2008, having previously worked at Susquehanna International Group and Friedman Billings Ramsey & Co.

Milestone Partners ( is a private equity firm that partners with management to invest in leveraged buyouts and recapitalizations of lower middle market businesses. Milestone pursues successful niche-market leaders that provide high-margin products or services. Milestone’s transactions typically provide liquidity to shareholders of privately-owned businesses, facilitate the transition of ownership to key managers, and allow management to capitalize on growth opportunities, while maintaining the legacy of the founders.