Saw Mill Beats Target on Fund II
Search

Saw Mill Beats Target on Fund II

Saw Mill Capital has held a final closing of Saw Mill Capital Partners II, LP and Saw Mill Capital Partners II-A, LP with a total of $340 million in capital commitments. Saw Mill raised Fund II without the use of a placement agent and exceeded its original target of $300 million. The new fund raised its capital from both existing investors and new institutional investors and the general partner represents nearly 10% of total commitments.

“We are grateful for the confidence our investors have placed in us. We take a differentiated approach to uncovering value in prospective investments, and we will continue to execute this strategy to create value for our Fund II investors,” said Howard Unger, Founder and Managing Partner of Saw Mill.

Saw Mill Capital invests in North American-based manufacturing, industrial and commercial service, and specialty distribution businesses with $25 million to $200 million of revenues and $5 million to $25 million of EBITDA. The firm was founded in 1997 and is headquartered north of New York City in Briarcliff Manor, NY (www.sawmillcapital.com).

Saw Mill has already closed on two platform investments for Fund II: Wolf-Gordon (acquired in January 2016) is a distributor of wallcoverings and other interior building products that are sold to the hospitality, commercial office, retail, healthcare, and education sectors, and has sales representatives based in all major markets in the United States. Products include wallcoverings, upholstery and drapery textiles, specialty paints and dry-erase coatings. Wolf-Gordon was founded in 1967 and is headquartered in Long Island City, NY (www.wolfgordon.com); and iAutomation (acquired in January 2017) is a designer and distributor of automation products used by original equipment manufacturers. iAutomation helps customers to identify, select, procure, apply and operate components used to automate machinery. The company’s services include project development, software programming, drawings and documentation, system packaging, and installation and start-up. The company employs 60 engineers and is headquartered south of Boston in North Attleboro, MA (www.i-automation.com).

“By leveraging our in-house research resources, Saw Mill will continue to identify nuanced growth opportunities and investments,” said Tim Nelson, Partner.  “We are thrilled with our investors’ continued support following Fund I’s top-decile performance, and we look forward to building enduring relationships with our partners,” said Scott Rivard, Partner.

Kirkland & Ellis provided legal services to Saw Mill for this fundraise.

© 2017 Private Equity Professional | July 13, 2017

To search in site, type your keyword and hit enter