Shoreline Equity Partners, a lower middle market private equity firm, has been launched in Jacksonville, FL.
The new firm was founded by Michael Hand, managing partner, and Peter Franz, partner, who have spent a substantial portion of their careers investing in lower middle market companies.
Mr. Hand has over 15 years of experience originating, analyzing, negotiating, monitoring, and exiting private equity investments. Prior to founding Shoreline, he co-founded and co-led PNC Riverarch Capital, the PNC Financial Services Group’s on-balance sheet private equity strategy.
Mr. Franz has over 20 years of partner-level private equity experience. Prior to founding Shoreline, he worked at Florida Capital Partners as a co-managing partner. Although they worked at different firms, the two founder’s past investment experience has overlapped and they invested and managed several lower middle market portfolio companies alongside one another.
Shoreline Equity will pursue equity investments of up to $100 million per transaction in support of buyouts, recapitalizations, and corporate divestitures. Typical target companies will have enterprise values from $25 million to $250 million and EBITDA of $5 million to $25 million. Areas of interest include non-capital-intensive businesses within the specialized manufacturing, value-added distribution, and business and industrial services sectors (www.shorelineequitypartners.com).
Also joining Shoreline Equity as Vice Presidents are Ian Garland and Zachary Mittelmark, both of whom previously worked with Mr. Hand at PNC Riverarch Capital.
© 2019 Private Equity Professional | March 5, 2019
