Arlington Closes at Hard Cap

Arlington Capital Partners has held a final closing of Arlington Capital Partners V LP at its oversubscribed hard cap of $1.7 billion.

Fund V was raised in just three months and received commitments from a global mix of public pension funds, corporate pension funds, insurance companies, fund of funds, and foundations. The firm’s earlier fund, Arlington Capital Partners IV LP, closed in August 2016 with capital commitments of $700 million, also at an oversubscribed hard cap and in just three months of fundraising.

Fund V will continue Arlington’s strategy of investing in buyouts and recapitalizations of companies valued from $50 million to $500 million that are active in government services and technology; aerospace and defense; healthcare; and business services and software. Arlington is one of the most active private equity firms in these sectors and since April 2018 has exited seven portfolio companies, invested in five new platforms and closed on seven add-on acquisitions for its portfolio companies.

Recent transactions include the formation of Radius Aerospace in April 2019 to acquire the forming and fabrication facilities of publicly traded Triumph Group. Hot Springs, AR-based Radius has customers that include OEM and Tier 1 aerospace and defense companies; and in February 2019, Arlington sold Boston-based Endeavor Robotics to publicly traded FLIR Systems for $385 million. Arlington formed Endeavor Robotics in April 2016 to acquire the defense and security business of publicly traded iRobot Corporation for $45 million. In May 2019, Arlington completed an add-on acquisition for Tex Tech Industries, a maker of engineered textiles, with the buy of the coating and laminating operations and US defense-related operations of Highland Industries. Arlington acquired Tex Tech from ShoreView Industries in August 2017.

Arlington was founded in 1999 and has completed over 90 acquisitions since its inception. The firm is based in Chevy Chase, MD (www.arlingtoncap.com).

Evercore was the placement agent for this fundraise and Kirkland & Ellis provided legal services.

© 2019 Private Equity Professional | June 26, 2019

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