Olympus Partners has held a final closing of its seventh institutional private equity fund, Olympus Growth Fund VII LP, with an oversubscribed $3.04 billion of capital commitments.
Olympus began its fundraising efforts in mid-September 2017. Many of the investors in the new fund have been with Olympus for decades.
Olympus provides equity capital for middle market management buyouts and for companies needing capital for expansion. Sectors of interest include business services, restaurants, consumer products, healthcare services, financial services, and packaging.
Cash-on-cash returns are always helpful when fundraising and Olympus has provided this to its investors. Just today, the firm announced that it has agreed to sell Phoenix Services, a provider of industrial services to steel mills, to Apollo Global Management. Olympus acquired a controlling stake of Phoenix in 2009. In November it also agreed to sell Centerplate, an event hospitality provider to sports venues, convention centers and entertainment venues, to Sodexo, a French food services and facilities management company. Olympus acquired Centerplate in 2012. And in September it sold Ritedose Corporation, a manufacturer of respiratory and ophthalmic drugs, to Humanwell Healthcare. Olympus acquired Ritedose in 2009.
Olympus was founded by Rob Morris in 1988 and is headquartered in Stamford, CT (www.olympuspartners.com).
© 2017 Private Equity Professional | December 18, 2017