Milestone IV’s limited partners include institutional investors, family offices and individuals. Most of the Milestone III limited partners made commitments to Milestone IV and Milestone IV secured new commitments from various domestic, European and Middle Eastern institutions.
Capstone Partners served as exclusive global placement agent for Milestone IV and Weil, Gotshal & Manges served as legal counsel.
Milestone IV has already invested $71 million of capital with the acquisitions of four companies; Machine Laboratory, a Kansas manufacturer of ultra-high precision components (www.machlab.com); Image API, a Florida business services provider to state and local government agencies (www.imageapi.com); Martex Fiber, a South Carolina manufacturer of recycled textiles (www.martexfiber.com); and Southern Management, a South Carolina provider of consumer installment loans (www.southernfinance.us).
Mr. Nowaczyk will continue to lead transactions and serve on Milestone’s Investment Committee. He joined Milestone in 2007, having previously worked at Kidder, Peabody & Co., PaineWebber and Legg Mason Wood Walker.
Mr. Ryan will continue to lead Milestone’s deal sourcing efforts and will oversee Milestone’s lender relations function. Mr. Ryan joined Milestone in 2008, having previously worked at Susquehanna International Group and Friedman Billings Ramsey & Co.
Milestone Partners invests in leveraged buyouts and recapitalizations of lower middle market businesses typically in the $15 million to $100 million valuation range. The firm prefers niche-market leaders that provide high-margin products or services. The firm was founded in 1995 and is located in Radnor, PA (www.milestonepartners.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 4-5-13