Fruition Partners Launched in Denver

Former Lariat Partners’ professionals Jay Coughlon, Mac Hampden, and Jason Urband have launched Fruition Partners, a new Denver-based private equity firm.

Fruition invests in lower middle-market companies that have EBITDA of $2 million to $20 million. Areas of specific interest include niche companies with recurring revenue or consumable business models and those with above-market operational or industry characteristics where ownership is largely comprised of the original founders.

“Mac, Jason, and I have had success together for years and we are pleased to announce the launch of our new name, Fruition Partners,” said Jay Coughlon, managing partner and co-founder of Fruition Partners. “We look forward to partnering with strong entrepreneurs and management teams to help them execute on their strategic vision.”

While at Lariat, Messrs. Coughlon, Urband, and Hampden were involved in all Lariat investments that have been realized, yielding significant cash on cash returns.

Mr. Coughlon co-founded Lariat Partners in January 2013 and earlier spent 12 years with KRG Capital, a Denver-based private equity firm. At Lariat, Mr. Coughlon led the following three investments: Subsea Global, a Miami-based provider of underwater ship maintenance, repair and marine construction services, which was sold to GenNx360 Capital Partners in April 2018 (acquired in November 2013); Jacent, a Huntingdon Valley, PA-based distributor and merchandiser of non-edible, general merchandise impulse items sold through grocery stores, to Gridiron Capital in April 2019 (acquired in September 2015); and Offen Petroleum, a Commerce City, Co-based distributor of fuel, to Court Square Capital Partners in June 2019 (acquired in December 2017).

Mr. Urband joined Lariat in January 2015 and has over 14 years of merger and acquisition advisory and private equity investing experience. Earlier in his career, from June 2009 to January 2015, he was with Grey Mountain Partners. Before co-founding Fruition, he was active as the interim Chief Executive Officer of Willowood USA, a Broomfield, CO-based manufacturer of post-patent crop protection herbicides, fungicides, and insecticides that Lariat acquired in May 2016.

Mr. Hampden joined Lariat in April 2013 and earlier in his career he was an associate with SunTrust Robinson Humphrey.

Although just launched, Fruition has an investor base to support new investments and the firm is currently reviewing new opportunities in fuel distribution, specialty distribution (including food products), consumer products and services, tech-enabled services, niche manufacturing, and industrial services.

For more information on Fruition Partners click HERE.

© 2019 Private Equity Professional | July 11, 2019

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