Falfurrias Capital Partners has closed its new middle-market private equity fund, Falfurrias Capital Partners IV LP (FCP IV), at its hard cap of $500 million. The firm’s earlier fund closed with $275 million of capital in March 2017.
Falfurrias makes equity investments in growth-oriented middle-market companies that have revenues in excess of $10 million and EBITDAs in excess of $2 million. Industries of interest are many but the firm has specific interest in automation; financial services; consumer products; health care; building products; diversified manufacturing; business services; education, training, and information services; and infrastructure services.
“We are humbled by the confidence in Falfurrias Capital Partners and are particularly pleased that FCP IV is largely made up of investors from prior funds who have grown their commitments to our firm,” said Ed McMahan, managing partner at Falfurrias. “Our quick and successful fundraising reflects the strength of our team as well as our differentiated strategy and we are energized to continue our firm’s growth.”
In October 2018, Falfurrias acquired Best Impressions Caterers, a Charlotte-based catering company serving corporate, philanthropic and social clients (www.bestimpressionscaterers.com). Simultaneous with the buy of Best Impressions, the company’s first add-on acquisition was closed with the buy of Charleston, SC-based Duvall Catering & Events. Falfurrias’ strategy is to construct a regional network of premium caterers across the Southeast.
Also in October 2018, Falfurrias acquired Global Plasma Solutions (GPS), a Savannah, GA-based provider of air purification devices used in commercial, residential and industrial HVAC system operations (www.gpshvac.com). At closing, Falfurrias named veteran business leader Glenn Brinckman as GPS’s new CEO. Mr. Brinckman’s experience includes senior management roles within filtration technology at W.L. Gore and General Electric.
Falfurrias was founded in 2006 by Hugh McColl Jr., former chairman and CEO of Bank of America, and Marc Oken, former CFO of Bank of America. The firm is based in Charlotte, NC (www.falfurriascapital.com).
© 2019 Private Equity Professional | February 20, 2019