Sverica International announced that its third private equity fund closed last November with $265 million in capital commitments. The bi-coastal firm focuses on buyouts in the lower middle-markets.
Sverica International, a leading growth-oriented private equity firm has announced the closing of its third private equity fund, Sverica International III, LP (“SI III”) in November 2008. The lower-middle market focused investment firm had initially targeted $250 million and was over subscribed. The final closing of SI III brings Sverica’s total assets under management to over $425 million.
SI III investors include foundations, university endowments, fund-of-funds, and high net worth individuals.
K. Gunnar Bjorklund, Managing Director and co-founder of Sverica, said, “We are pleased by the strong support from our existing investors and are excited to add new high quality investors to our third fund. The successful fundraising in a difficult environment further validates Sverica’s strategy of partnering with entrepreneurs at the lower end of the middle market and providing the operational and strategic tools to accelerate growth and increase profitability. We will continue to harness the expertise and entrepreneurial drive of Sverica’s professionals by taking an active advisory role in the future of acquired companies.”
Sverica invests in private companies across industries with a preference for service oriented businesses with recurring revenue and light industrial manufacturers with proprietary technology. The firm’s third fund will target companies with enterprise values under $100 million and EBITDA greater than $3 million. Sverica is less interested in the company’s size than in its reputation with its customers, employees and suppliers, as well as its potential for growth and development. Despite being industry agnostic, Sverica has several current areas of investment interest: for-profit post-secondary education, enterprise software, healthcare services, pet care services, wind energy services, and security and alarm monitoring.
Sandro Mina, Managing Director and co-founder of Sverica said, “In deploying Fund III, Sverica will remain true to the investment strategy it has employed since inception which has driven strong results for our investors over the years. We believe we are well positioned in the market as Sverica relies on growing businesses rather than financial leverage to drive returns.”
About Sverica International
Sverica International is a leading private equity firm with over $425 million of assets under management across three funds. The firm acquires, invests in and actively builds companies that are or could become leaders in their industries. Since 1993, Sverica has maintained a “higher touch” operating philosophy of taking an active role in portfolio companies. Sverica devotes significant internal resources to help its management teams develop and execute growth strategies thereby generating superior investor returns. For more information, please visit www.sverica.com.