Rock Hill Capital, a Houston-based small to lower-market private equity firm, has held an initial close of its second fund, Rock Hill Capital II, LP. The fund has a target of $150 million, the firm said. The firm focuses on businesses located in the Gulf Coast and Southeast regions of the United States.
Rock Hill Capital Group LLC (“Rock Hill”), a Houston-based small to lower middle market private equity firm, has completed the initial closing of Rock Hill Capital II, LP (“Fund II”). Fund II was launched in March 2011, with the initial closing effective June 30, 2011. Fund II is a successor fund to Rock Hill Capital I, LP (“Fund I”) and will follow a similar investment strategy.
“Our initial fund raising strategy was to complete a first close principally with our Fund I investors,” commented Randy Hale, Rock Hill’s Founder and Managing Director. “We are pleased with the interest level and response that we have received. Our initial closing for Fund II resulted in total commitments in excess of Fund I. We now look forward to broadening our investor base in the coming months,” said Hale.
According to Hale, Rock Hill makes investments in small to lower middle market entrepreneurial businesses located in the Gulf Coast and Southeast regions of the United States. Rock Hill focuses on businesses operating in the industrial services, business services and value-added distribution sectors, targeting private family owned businesses in the $3 million to $7 million EBITDA range.
To date, Rock Hill has completed six investments in Fund I. Hale further stated, “We intend to make one additional portfolio company investment in Fund I and will then begin investing our Fund II capital.” Fund I investments include companies operating in the following sectors:
oil field service;
non-hazardous liquid waste collection, processing and disposal;
industrial cleaning and hazardous waste disposal;
fully integrated audio-video solutions for educational and corporate institutions;
video conferencing managed services; and
value-added distributor of high-end household appliances.
Fund II has a target size of $150,000,000. Investors in the initial close of Fund II are all high net worth individuals and family investment offices.
About Rock Hill Capital Group, LLC
Founded in 2008, Rock Hill Capital Group, LLC (www.rockhillcap.com) is a private equity firm that targets investments in growing small to lower middle market companies with enterprise values up to $75 million. Rock Hill seeks to assist successful entrepreneurial companies located in the Gulf Coast and Southeast regions of the United States to continue to grow and expand their businesses. Currently, Rock Hill is investing through two committed pools of capital, Rock Hill Capital I, LP and Rock Hill Capital II, LP.