North Branch Capital has closed its inaugural fund at $132 million, beating its target. The fund’s limited partners include insurance companies, fund-of-funds, family offices, charitable foundations and high-net worth individuals. M2O Private Fund Advisors LLC was placement agent while Latham & Watkins LLP provided legal counsel to North Branch. Based in Oak Brook, Illinois, North Branch is a lower-middle market private equity firm.
North Branch Capital (“North Branch”) announced today the final close of its inaugural fund, North Branch Capital Fund I, L.P. (the “Fund”). North Branch closed with LP commitments of $132 million, exceeding its target and original cap.
North Branch received commitments from a well-respected group of limited partners, including insurance companies, fund-of-funds, family offices, charitable foundations and high net worth individuals. Importantly, every Partner and Employee of North Branch made a significant commitment to the Fund alongside these limited partners.
“Since our launch in April 2014, we have completed six platform investments and ten add-on investments. The support and confidence of our partners in the Fund will allow us to continue North Branch’s focus of investing in lower middle market, unique, industrial companies with extraordinary organic growth potential,” said North Branch partner, Jon Leiman. Bill Huber, North Branch partner, commented, “The entire North Branch team is very much looking forward to continuing our strong partnerships with talented management teams driving tremendous cultures.”
North Branch brings unparalleled operating expertise to the lower middle market; specifically targeting industrial businesses with revenue of $10 million to $50 million and EBITDA between $2 million and $8 million. “Nearly every private equity firm we compete with either has no operating capabilities or relies on a network of outside executives and operators to drive growth and efficiencies in their portfolio companies. The vast operational experience of our partners and employees allows North Branch to keep this core competency internal and avoid an outsourced model,” commented Dan Bauman, North Branch partner.
M2O Private Fund Advisors LLC acted as exclusive placement agent and Latham & Watkins LLP provided legal counsel to North Branch.
About North Branch Capital
North Branch Capital (www.northbranchcap.com) is a lower middle market private equity firm, based in Oak Brook, IL, with a long history of investing alongside and partnering with management teams in industrial businesses. We specifically target businesses that lead with engineering excellence or value-added services in order to solve complex customer problems. We seek partnerships with strong leadership teams driving tremendous cultures, and we are much more than a source of capital or liquidity. With 50 years of collective operating experience, our collaboration with management teams is unique. This experience comes from the Partners of North Branch, not a network of executives or consultants.