A new private equity firm, Everglades Equity, has been formed by Brett Craig, a former member of the investment team at Hidden Harbor Capital Partners.
Everglades Equity will make majority equity investments in North American-based founder and family-owned businesses that are active in the value-added distribution, facilities services, industrial services, and human capital management sectors. Typical targets will have EBITDA from $3 million to $8 million. Everglades is led by Mr. Craig as its managing partner and is headquartered in Miami.
“We’re going to be targeted in our investments, focusing on industries that we know,” said Mr. Craig. “In terms of our ideal fit, we’re looking for founder and family-owned companies with leading market positions, strong core businesses, and untapped growth opportunities.”
Everglades has also assembled a team of three strategic advisors including Jonathan Beard, an operating professional and the former VP of Operations for Oldcastle Enclosures, a $200 million in revenue business unit of Oldcastle Infrastructure, an Atlanta-based provider of building materials, products and services used in infrastructure projects. Earlier in his career, he was an Associate Partner with McKinsey & Company; Blake Dahlgren, Senior Manager Global Sales Operations at FedEx; and Alex Miller, CEO of Synergetics, a Portsmouth, NH-based management consulting firm.
“Everglades built its team of strategic advisors to be a true differentiator and a powerful complement to our portfolio companies,” added Mr. Craig. “Their unique combination of deep industry knowledge and consulting expertise will provide management teams with tremendous value as they execute on their strategic vision.”
Mr. Craig has 18 years of private equity experience. Most recently, from 2016 to 2019, he was a principal of Boca Raton-based Hidden Harbor Capital Partners, where he served on the firm’s investment committee and was responsible for sourcing, evaluating, and executing lower middle market private equity investments. Earlier in his career, he was with H.I.G. Capital, Quad-C Management, and Blackstone. Mr. Craig has a BA in Economics from the University of Pennsylvania, and an MBA from Columbia.
Everglades has also established the Everglades Equity Conservation Fund, which will donate a meaningful portion of the general partner’s investment profits toward charities supporting conservation in the Florida Everglades.
© 2019 Private Equity Professional | October 16, 2019