Center Rock Closes First Fund

Center Rock Capital Partners has held a final closing of its inaugural fund, Center Rock Capital Partners Fund I LP, with an oversubscribed $580 million of limited partner capital commitments. The firm began fundraising in late 2017 with a target of $450 million.

Center Rock was founded in August 2017 and is led by partners Ian Kirson and Terry Theodore. Prior to forming Center Rock, Mr. Kirson was a senior investment professional at Wynnchurch Capital from 2004 to 2017, most recently as a partner and a member of the firm’s investment committee. Similarly, Mr. Theodore was also a partner at Wynnchurch Capital from 2004 to 2016 and a member of the firm’s investment committee.

Center Rock makes control and non-control equity investments in North American-based industrial manufacturing, industrial services and industrial distribution companies that have revenues of $25 million to $500 million and EBITDA of up to $50 million (including negative EBITDA). Investments types include management buyouts, corporate divestitures and carve-outs, recapitalizations, under-performing businesses, restructurings and bankruptcies.

Center Rock operates out of two offices – one in Chicago and one in the Detroit suburb of Bloomfield Hills (www.centerrockcp.com).

Moelis & Company (www.moelis.com) was the placement agent for this fundraise and Kirkland & Ellis (www.kirkland.com) provided legal services.

© 2018 Private Equity Professional | September 6, 2018

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