LLR Closes $1.2 Billion Fund

LLR Partners has held a final closing of its latest fund, LLR Equity Partners V LP, at $1.2 billion.

LLR Partners invests from $15 million to $100 million in companies that have up to $100 million in annual revenue and are active in the education, financial, healthcare, security and software sectors.  The firm will invest in minority or majority equity positions through growth capital, recapitalizations and buyout transactions.

The new fund has already made eight investments as follows:

  • 3SI Security Systems, a Malvern, PA-based provider of asset protection systems used in the financial, retail, cash-in-transit and law enforcement markets, in June 2017;
  • eLocal, a Conshohocken, PA-based provider of software to support digital performance marketing and new customer acquisition, in November 2017;
  • Eye Health America, an Alpharetta, GA-based provider of eye care practice management services, in March 2018;
  • MedBridge, a Seattle, WA-based provider of clinical and professional education, patient education and home rehabilitation programming for medical and allied health professionals, in March 2018;
  • Midigator, a Salt Lake City, UT-based provider of software used to prevent, analyze and manage payment card chargebacks, in March 2018;
  • Onapsis, a Boston, MA-based provider of cybersecurity services used to monitor and protect SAP and Oracle ERP and other business applications, in April 2018;
  • PhishLabs, a Charleston, SC-based provider of 24/7 managed security services to protect organizations against phishing attacks that target their customers and employees, in May 2018;
  • Professional Capital Services, a Philadelphia, PA-based provider of software used by registered investment advisors, independent broker-dealers and investment management firms to automating the sale, design, valuation and management of retirement plans, in September 2017.

“With our focus on select industries and our innovative approach to sourcing investments, we see compelling companies seeking a partner to help them grow their businesses to the next level,” said Mitchell Hollin, a Partner with LLR. “Our collaborative and flexible investment approach has remained consistent since LLR’s founding in 1999. More than ever, we leverage the collective expertise of our multi-disciplinary team, portfolio executives and extensive third-party network to help create value for our companies.”

Asante Capital Group (www.asantecapital.com) was the European placement agent for this fundraise and Latham & Watkins (www.lw.com) provided legal services.

LLR Partners is headquartered in Philadelphia (www.llrpartners.com). The firm’s earlier fund, LLR Equity Partners IV LP, closed at $950 million in March 2014.

© 2018 Private Equity Professional | June 13, 2018

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