Craig Dupper has formed a new private equity firm, Elan Growth Partners, to invest in lower middle market companies based in Southern California.
Elan Growth will invest from $5 million to $25 million of equity per transaction in lower middle market companies that have from $1 million to $6 million of EBITDA. Sectors of interest include manufacturing, niche software, and business services.
“In an increasingly commoditized capital environment, Elan’s partnering philosophy, extensive experience and access to human capital and other resources, set us apart from alternatives that simply provide capital at close,” said Craig Dupper, Founder and Managing Partner. “By bringing capital and these valuable non-financial resources to our partnerships, we enable company owners to achieve their business and personal objectives, while generating consistent returns for our investors.” Prior to forming Elan Growth, Mr. Dupper spent nearly 16 years at Solis Capital Partners, most recently as a partner.
In tandem with the announcement of the new firm, Elan Growth also closed a round of initial funding that was oversubscribed, despite its limited offering to investors with prior relationships to the principals of the new firm.
Joining Mr. Dupper at Elan Growth on May 1st is Max Young, who worked as an associate at Solis Capital Partners beginning in January 2017. Mr. Young will join the new firm as a principal. “Elan solves an unsatisfied need that exists for Southern California businesses,” said Mr. Young. “Our geographic focus encompasses San Diego to Ventura counties, a region that is dense with lower middle market companies but lacks sufficient value-added capital partners. According to the US Small Business Administration, there are nearly 49,000 companies in Southern California with 20 to 500 employees, outnumbering the region’s local private equity firms 300 to 1.”
Elan Growth is headquartered north of San Diego in Carlsbad, CA (www.elangrowth.com).
© 2018 Private Equity Professional | April 16, 2018