Cyprium Partners has closed its fourth fund, Cyprium Investors IV, with $460 million of capital commitments. The new fund will continue Cyprium’s strategy of making non-control investments of equity and subordinated debt in sponsorless transactions involving middle market companies.
Investors in Cyprium Investors IV include domestic and foreign pension funds, insurance companies, family offices and entrepreneurs who the firm has backed in previous investments.
Founded in 1998 as Key Principal Partners, the principals and investment professionals formed Cyprium Partners in June 2011. Over the group’s history, it has deployed $1.2 billion of capital and made 66 non-control investments. Since its initial close, Cyprium IV has invested $100 million in three platform companies: CV Holdings, a maker packaging products supplied primarily to the pharmaceutical and food industries (based in Auburn, AL); Hobbico, a distributor of radio-control models and general hobby products (Champaign, IL); and Ice River Springs, a bottled water company with eleven manufacturing plants located in Canada and the US (Shelburne, ON).
“Cyprium is proud to announce the closing of Cyprium Investors IV,” said John Sinnenberg, Chairman of Cyprium Partners. “The successful fund raise reflects a continued endorsement by private capital investors of our differentiated, sponsorless non-control model and the continuity of our focus and team over the last sixteen years. Dodd-Frank restrictions required us to replace over 75% of our previous investor base. We feel the $460 million fundraising effort is truly a milestone for Cyprium and we greatly appreciate the commitment from our existing and new investors and the support of our placement agent, Capstone Partners, in helping the firm accomplish its fund raising objective. We look forward to putting this capital to work in leading middle market companies whose owners are searching for a minority partner to work in collaboration with them as they seek to take their business to the next level.”
Cyprium provides capital for acquisitions, growth, shareholder or partnership buyouts, refinancings and dividend distributions, without requiring majority control. The firm provides capital via subordinated debt, preferred stock and common stock. Cyprium invests from $10 million to $60 million per transaction in companies with more than $10 million of EBITDA that are based in the US or Canada. The firm has offices in Cleveland, New York, and Chicago (www.cyprium.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 1-7-15