Middle market investor Dubin Clark & Company has closed its second fund, DCCP Fund II, LP. The new fund was oversubscribed and exceeded its $100 million target. Limited partners in the new fund include endowments, pensions, insurance companies, fund‐of‐funds, family offices, and high‐net‐worth individuals.
“We are pleased with the success of our fundraising effort, and excited to be partnering with some of the most capable, industry‐leading institutional investors out there,” said Tom Caracciolo, Managing Partner of Dubin Clark. “Our investors recognized and responded to our ability to source attractive opportunities and create value through both organic growth initiatives and add‐on acquisitions.”
Dubin Clark invests in companies that have from $10 million to $100 million in sales and at least $2 million of EBITDA. Sectors of interest include manufacturing, value-added distribution, and services. With the closing of the new fund, Dubin Clark now has more than $270 million of capital under management. The firm was founded in 1984 and has offices in Boston, MA and Ponte Vedra Beach, FL (www.dubinclark.com).
Fund II has already made four platform investments and has also completed three add‐on acquisitions. The four platform companies are: BBJ Rentals, a provider of special event linen rental products and services to weddings, social and corporate events; CE Rental, a full‐service special event rental company servicing the Mid‐Atlantic region;
Advanced Pavement Group, a provider of maintenance and repair services to commercial parking lots and related areas for property managers and owners of apartment complexes, strip malls and other commercial and retail establishments; and Daystar Products International, a manufacturer of
lift and leveling kits and other automotive performance aftermarket parts for off‐ and on‐ road trucks, Jeeps, and multi‐purpose vehicles.
“Our approach has always been centered on one fundamental concept – it’s all about people,” said Brent Paris, Managing Partner of Dubin Clark. “We are excited to have an exceptional group of investors who understand the merits of this approach, and look forward to continuing to partner with talented management teams to institutionalize and grow our businesses, and deliver strong investment returns for our limited partners.”
NovaFund Advisors (www.novafundadvisors.com), a private placement and advisory firm based in Darien, CT, assisted with this fundraise. Willkie Farr & Gallagher (www.willkie.com) provided legal services.
© 2017 Private Equity Professional | July 7, 2017