Gridiron Capital has held a final close of its second fund, Gridiron Capital Fund II, LP (“GCF II”) with $425 million in total capital commitments, $25 million above its original target of $400 million. GCF II raised capital in Europe, North America and Asia with a cross section of limited partners, including endowments and foundations, insurance companies, public and private pension funds, fund of funds and high net worth individuals.
“We are pleased with the successful completion of our fundraising effort in this difficult market environment,” said Thomas Burger, Jr, a Co-Founder and Managing Partner of the firm. “Investors responded positively to our track record of accessing attractive direct deal flow, our ability to create value and build business over a medium- to long-term time horizon, and to Gridiron’s ability to realize strong investment returns for our limited partners.”
Gridiron Capital engaged NovaFund Advisors as its placement agent to assist with the raising of GCF II. NovaFund Advisors is a private equity placement and advisory firm founded in 2004 which provides distribution in North America, Asia, Europe and the Middle East. The firm is based in Darien, CT (www.novafundadvisors.com).
Gridiron plans to acquire controlling interests in middle-market manufacturing, service, and specialty consumer companies in the United States and Canada that have EBITDA’s of $5 million to $30 million.
So far, GCF II has made three platform investments since its formation: Apex Engineering International, a producer of aircraft parts, assemblies and components; H.M. Dunn, a manufacturer of precision machined structural components and complex assemblies for the military and commercial aerospace industry, and; Quality Solutions, a manager of facilities services for multi-site retail and food service operators. In addition, Gridiron has completed an add-on acquisition for H.M. Dunn.
“Our industry expertise and corporate relationships have enabled us to directly source targeted, high quality deal flow and work collaboratively with not only corporate spinoffs but with owner operators and family run businesses ”said Eugene Conese, Jr., Co-Founder and Managing Partner. “We are excited to continue working with talented management teams and leveraging our operating capabilities to deliver improved business performance and strong returns for investors.”
Gridiron Capital is based in New Canaan, CT (www.gridironcapital.com).
