Warren Equity, with Pegasus Capital pedigree, seeks $225 mln for Fund II

  • Warren was founded in 2015
  • Firm specializes in infrastructure related companies
  • Partnership group includes former Pegasus executives

Warren Equity Partners, a lower middle market firm specializing in infrastructure-related companies, plans to raise $225 million for its second fund, according to recent SEC filings.

It’s unclear how much Warren Equity Partners raised through its first fund, or if its current portfolio companies were acquired using alternative fund structures.

Managing Partner Steven Wacaster did not respond to a request for comment.

Two members of the firm’s investment committee, Wacaster and Partner Scott Bruckmann, were previously executives at Pegasus Capital Advisors. The final member of the investment committee, Partner and Chief Operating Officer Henrik Dahlback, is a former investment banker whose resume includes stints at Royal Bank of Canada, Merrill Lynch and Morgan Stanley.

Richard Weinberg, formerly a co-managing partner at Pegasus, is listed on the firm’s website as a strategic partner.

Founded in 2015, Warren Equity’s portfolio includes four companies that service a variety of infrastructure assets — from wastewater treatment facilities to oil and gas pipelines. Last year, the firm acquired SSP Innovations, a software and IT provider for electric, gas and water utilities. Two months after closing the SSP acquisition, SSP acquired software provider Paleon Inc.

Warren Equity’s portfolio includes data collection business Hydromax USA, maintenance and repair company IPC Lydon and Multifuels, which operates underground infrastructure projects such as oil and gas pipelines.

Warren Equity Partners is based in Jacksonville, Florida.

Action Item: For more on Warren Equity Partners, visit www.warrenequity.com/

Three pipelines; Photo courtesy of onurdongel/iStock/Getty Images