Plexus Capital, the North Carolina-based private equity firm, has raised $165 million to operate as a Small Business Investment Company private equity fund. The fund is the PE firm’s second; it will make loans and equity investments in small to mid-sized businesses. Plexus has prior investments in building materials and dry cleaning supply companies, among other industries.
Charlotte, N.C. – January 3, 2011 – Plexus Capital (“Plexus”), a Small Business Investment Company (SBIC) private equity fund with offices in Charlotte and Raleigh, North Carolina, announced today that it has completed its final closing of Plexus Fund II. This is the firm’s second fund to make loans and equity investments in small and mid-sized businesses in North Carolina and the eastern half of the U.S.
Despite a difficult economic environment, Plexus exceeded its private capital fundraising target of $150 million by raising $165 million from a limited partner group consisting of individual investors, banks, institutions, family offices and money managers. Plexus received its second SBIC license from the Small Business Administration (SBA) in January of 2010, giving it access to two tiers of attractive borrowing capacity from the SBA. This leverage, coupled with the $56M private capital raised, will give Plexus Fund II a $165 million pool of capital to invest. The combined investment assets comprising Plexus Capital’s two funds now approach $250 million.
Plexus makes investments in small and medium-sized businesses needing capital for growth, acquisitions, recapitalizations and transfers of ownership. Plexus is now harvesting the portfolio of Fund I and has made capital investments exceeding $40 million from Fund II.
About Plexus Capital
Plexus Capital operates as a licensed SBIC with approximately $250 million under management across two funds. Plexus has offices in Charlotte and Raleigh, North Carolina and seeks investment opportunities throughout the eastern half of the U.S. Founded in 2005; Plexus provides growth capital to middle market companies through investments in subordinated debt and equity securities. The five founding partners of Plexus have been active in the middle market with an average of 22 years experience investing in and advising companies needing capital for growth, acquisitions, recapitalizations and transfers of ownership. For more information on the Plexus team, its investment strategy and portfolio investments, please visit www.plexuscap.com.