Resilience Capital Partners has completed the final close of its third fund, The Resilience Fund III, L.P., on May 31, 2012 with $222.5 million of committed capital. Fund III exceeded its target of $200 million. Fund III’s capital comes from a variety of sources including pension funds, insurance companies, foundations and endowments, fund of funds, wealth managers and investment consultants. Approximately 60 percent of the fund’s capital was provided by investors domiciled in the U.S., with the remainder from investors domiciled in Europe and the Caribbean.
“We are very pleased to complete our fundraising for Fund III and receive commitments from some of the world’s most respected private equity investors. The confidence they have placed in us is a testament to the results we have generated since founding the firm in 2001,” said Bassem Mansour, Co-CEO of Resilience. “We believe businesses will survive and thrive if they are properly capitalized with both human and performance-improvement capital.”
Griffin Financial Group served as placement agent to Resilience for Fund III. “We are delighted that Resilience was able to exceed their target in a very challenging fundraising environment”, said Paul Delaney, a Senior Managing Director at Griffin Financial Group. “We appreciate the strong support new institutional limited partners placed in the Resilience team and their focused investment strategy.” Resilience Capital Partners specializes in investing in lower middle market companies within a range of industries. Resilience’s value oriented investment strategy is to acquire companies in a variety of special situations including underperformers, corporate divestitures, turnarounds, and orphan public companies. Since its inception in 2001, Resilience has acquired 24 companies under 17 platforms with over $2 billion in revenue. The firm is based in Cleveland, OH (www.resiliencecapital.com).
Fund III currently has three platforms in place including North Coast Minerals (industrial minerals and silica sands); WT Hardwoods Group (hardwood lumber and flooring); and Thermal Solutions Manufacturing (heavy-duty heat exchange components). Resilience expects to build a portfolio of 10 to 12 platform companies in Fund III that participate in a range of manufacturing, business services and distribution industries.
“Our team generates results through a roll-up-the-sleeves approach that transforms good companies into more profitable and successful enterprises,” said Steve Rosen, Co-CEO of Resilience. “We invest in what we know – the lower middle-market in the heartland of America – and draw on a deep bench of operating expertise to enhance a company’s cash flow, competitive positioning and prospects.”