Brynwood Partners, a private equity firm active in the lower middle market consumer sector, has completed the first and final close of its latest fund, Brynwood Partners VII LP with $400 million of committed capital.
“We are both pleased and proud to announce the first and final close of Brynwood VII with $400 million of committed capital, the largest fund in our 29 year history,” said Hendrik Hartong III, Senior Managing Partner. “We are fortunate to have been able to reach our hard cap target with one close. The high level of interest in our new fund from the investment community validates our belief that returns in the lower middle market are primarily driven by operational improvements at the portfolio company level.”
“We received strong support from our existing limited partner base and appreciate their continued commitment to Brynwood Partners. We will continue to evaluate add-on acquisition opportunities for our five portfolio companies in Brynwood Partners VI LP and will be seeking new platform investment opportunities for Brynwood VII,” said Ian MacTaggart, Managing Partner.
Just this month the firm closed on the last portfolio company for Fund 6 with the acquisition of Lightlife Foods, one of ConAgra Foods’ brands with product lines that include vegetarian-based burgers, hotdogs and other meatless frozen and refrigerated items (www.lightlife.com). Other Fund 6 portfolio companies include Back to Nature, seller and marketer of cookies, crackers, granola, nuts/trail mix and juices under the Back to Nature brand (www.backtonaturefoods.com); High Ridge Brands, seller and marketer of Zest and Coast soap brands, and Alberto VO5 and Rave hair care brands and White Rain hair care and body wash brand (www.highridgebrands.com); New Hall Laboratories, seller and marketer of the la bella, L.A. Looks, Dep Sport, Soft & Dri, Pure & Natural, Thicker Fuller Hair and Zero Frizz hair and personal care brands (www.newhalllabs.com); and Pearson’s, manufacturer and marketer of Pearsons Salted Nut Roll, Pearsons Mint Patties, Pearsons Nut Goodies, Pearsons Bun and Bit-O-Honey confectionery brands (www.pearsonscandy.com).
Brynwood Partners is an operationally-focused private equity firm that makes control investments in consumer focused lower middle market companies. With the closing of Fund 7, Brynwood Partners now has $900 million of capital under management. The firm was founded in 1984 and is based in Greenwich, CT (www.brynwoodpartners.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 9-25-13