Trive Closes Fund II Above Target

Trive Capital Management has held a final closing of Trive Capital Fund II LP and Trive Capital Fund II (Offshore) LP with $500 million of capital commitments.  The funds (collectively called Fund II) reached its hard-cap in three months and beat its initial target of $400 million.  Trive Capital was founded in 2012 by Conner Searcy, Managing Partner and Chris Zugaro, Partner.

“We have a very supportive group of institutional investors that enabled us to have a quick and efficient fund closing,” said Mr. Searcy.  “Chris and I believe the significantly over-subscribed fund drew interest from investors attracted to our deep value investing approach, the quality of the Trive team, and our success in executing our operationally-focused investment strategy.

The close of Fund II caps a busy year for Trive. In  the past twelve months the firm has completed three platform investments, four dividend recapitalizations, expanded its team, and successfully sold Huron – a maker of tubular assemblies and components used in automotive engines and transmissions – to Seven Mile Capital Partners. The sale closed earlier this month and was a 2.5 year hold for Trive.

As with Fund I, Fund II’s investment focus will be in lower middle market companies which Trive believes possess transformational upside and would benefit from an operationally-focused partner.  “Trive’s collaborative, hands-on operational model brings a skill set we believe is absent in many lower middle market businesses, increasing the velocity of shareholder value creation,” said Mr. Zugaro.

Trive invests from $10 million to $60 million in North America headquartered companies with revenues of $30 million to $500 million. Sectors of interest include automotive and transportation; aerospace and defense; building products; construction and infrastructure; consumer goods; energy services; healthcare; manufacturing and industrials; chemicals; distribution; business and professional services; and communications.  Trive Capital is based in Dallas (www.trivecapital.com).