Brookside Mezzanine Partners has closed its third fund, Brookside Mezzanine Fund III, LP (Fund III), at $250 million which was just above its target of $225 million. The investor base of Fund III consists of family offices, entrepreneurs and institutional investors.
“We are very pleased with the strong support our existing investor base and new limited partners have shown Fund III,” said David Buttolph, Founder and Co-Manager of Brookside Mezzanine Partners. “We look forward to continuing our strategy of investing capital in the lower-middle market where we believe we can continue to achieve the strongest returns for our limited partners.”
Fund III will continue the same investment strategy of its two predecessor funds by providing subordinated debt and minority equity to small and mid-sized companies seeking capital to support buyouts, leveraged recapitalizations, strategic acquisitions, dividends and growth capital. Brookside will invest up to $20 million per transaction, with the resources to complete larger transactions as well.
Target companies generally have trailing twelve month revenue of at least $15 million and EBITDA of at least $3 million.
Brookside does not have a specific industry or geographic focus and will invests in a range of industries with specific interest in manufacturing, business services, distribution, restaurant, retail and healthcare. Brookside manages $500 million through three mezzanine funds.
“Since our founding in 2001, we have strived to be a value-added, solutions-based partner in every transaction,” said Corey Sclar, Co-Manager of Brookside Mezzanine Partners. “Our investment team’s extensive and complementary experience lending and investing in the middle market across various market cycles allows us to find the right capital solution for our partners.”
Most recently, Brookside provided subordinated debt and equity financing to support the acquisition of Dimex, a manufacturer of plastic extruded products used in a variety set of end markets such as industrial matting, landscaping, marine products, masonry construction and office chair mats, by Grey Mountain Partners.
Brookside Mezzanine Partners was founded in 2001 and has offices in Stamford, CT and Boston, MA (www.brooksidemezzanine.com).
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