High Road Hits Hard Cap for Fund II
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High Road Hits Hard Cap for Fund II

high road nfHigh Road Capital Partners has held a final closing of High Road Capital Partners Fund II, LP (Fund II). Fund II hit its hard cap and raised $320 million in total commitments, well in excess of its $200 million target and twice the size of its predecessor fund.

fitzsimons“We are very grateful for the tremendous support and trust from existing and new investors. We have a diverse group of notable limited partners who share our belief that the smaller end of the middle market represents a great opportunity to create value and deliver exceptional returns,” said Robert Fitzsimmons, co-founder and Managing Partner of High Road Capital Partners.

High Road’s capital base comprises more than 25 institutional investors, family offices, and high-net-worth individuals. High Road Capital Partners raised Fund II in less than 12 months and the firm did not use a placement agent.

“Fund II will follow our proven and successful strategy of acquiring well-performing companies in the US and Canada with $3 million to $10 million in EBITDA and adding value through organic growth initiatives and complementary add-on acquisitions, and operational improvements. Our philosophy of ‘taking the High Road in everything we do’ has been an integral component of our success,” added Mr. Fitzsimmons.

So far, High Road has completed two platform acquisitions and one add-on acquisition for Fund II. In May 2013, High Road acquired The Crown Group, a provider of coatings for electrocoat, powder coat, and liquid applications to the automotive, agricultural, heavy truck and other industrial end markets. The company is headquartered in Warren, MI (www.thecrowngrp.com). In November 2013, High Road completed and add-on acquisition for Crown with the purchase of Electra-Finish, a provider of plastic coating services to the automotive, agricultural, heavy truck and other industrial markets. The company specializes in decorative painting on interior plastic parts. Electra-Finish is based in Asheboro, NC (www.electra-finish.com). In October 2013, High Road acquired SMB Machinery Systems, a provider of used packaging and process equipment to the food and beverage industries. SMB is based in Ball Ground, GA (www.smbsales.com).

High Road Capital Partners invests in manufacturing, service, or value-added distribution businesses with revenues of $10 million to $100 million and EBITDAs of $3 million to $10 million. High Road was formed in 2007 and currently manages over $470 million of committed capital. High Road has completed 27 transactions, comprising 25 acquisitions – 11 platform investments, 14 add-on acquisitions – and two exits since its founding in 2007. The firm is based in New York (www.highroadcap.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 12-10-13

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