Ironbridge Equity Partners has raised approximately $50 million for the first closing of its second private equity fund. Backed by a number of investors that include Northleaf Capital Partners, the fund’s target is $125 million. Elm Capital is the fund’s placement agent. Based in Toronto, Ironbridge is a private equity firm that focuses on Canadian lower middle-market companies operating in a broad range of industries. Update: The other backers of Ironbridge Equity Partners II LP include two chartered banks and a large life insurance company.
TORONTO, Sept. 24, 2013 – Ironbridge Equity Partners (“Ironbridge”) has reached a first closing of approximately CAD $50 million of commitments for its second private equity fund, Ironbridge Equity Partners II, LP (the “Fund”). The Fund has a target of CAD $125 million and is backed by a diverse group of Canadian institutional investors including Northleaf Capital Partners, two chartered banks and a large life insurance company. Ironbridge has now started to market the fund outside Canada and given the strong interest being shown by international investors, it is expected that the fund will rapidly reach its target size.
Alan Sellery, Managing Partner of Ironbridge commented, “We are very pleased with the support we have received from Canadian institutional investors which we see as recognition of the high quality of our team, the value created within our existing portfolio companies and the strong performance of our past investments.” The four Ironbridge partners including Alan Sellery, Peter Samson, Peter Dowse and Jeffrey Murphy bring to lower mid-market companies in Canada decades of experience as private equity investors, senior managers and strategic consultants. Ironbridge expects to close its first investment in the Fund at the end of September.
Ironbridge’s team of seven professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. The Ironbridge investment team has extensive financial and operating experience and works closely with the management teams of its portfolio companies to enhance value.
Elm Capital is acting as the exclusive placement agent for the Fund.
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