HKW Closes Fifth Fund

Hammond, Kennedy, Whitney & Company (HKW) has held a final close of HKW Capital Partners V LP (HKW V) with total commitments of $365 million.

Fundraising for HKW V began in September 2017 and it closed above its $350 million target. Limited partners in the new fund include institutional investors, insurance companies, state pension plans, family offices, high net worth individuals, foundations and endowments.

“We thank the many investors who have put their trust in HKW to continue meeting their high expectations,” said Ted Kramer, president and CEO at HKW. “In particular, having previous investors continue supporting our partnership is an important validation of our strategy and approach.”

HKW invests in companies with revenues between $20 million and $200 million and EBITDAs between $5 million and $30 million. Sectors of interest include business services, health and wellness, and infrastructure services and products.

“HKW V will be a continuation of our efforts to identify outstanding businesses with meaningful growth potential, led by talented and partnership-oriented management teams,” added Jim Snyder, a partner at HKW. “Seeking to ensure that the interests of all parties are aligned from the start allows us to focus on the best possible outcome for the company, our investors, and for HKW.”

To date, HKW has completed five investments for HKW V: Fresh Direct Produce, a Vancouver, BC-based distributor of fresh, ethnic, tropical, organic, and specialty produce (December 2018); Urban Armor Gear, a Laguna Niguel, CA-based designer and manufacturer of protective cases for mobile phones, laptops, and tablets (August 2018); Indigo Wild, a Kansas City, MO-based manufacturer and distributor of bath, skin, home, and cleaning products (August 2018); Certified Tracking Solutions, an Edmonton, AB-based provider of telematics used in fleet management applications (June 2018); and GCR, a New Orleans, LA-based public sector software development and consulting firm (December 2017).

Since 1982, HKW has completed 60 platform management buyouts of middle-market companies throughout North America as well as 66 add-on acquisitions. The firm was founded in 1903 and is headquartered in Indianapolis with an additional office in New York (www.hkwinc.com).

Thomas Capital Group was the placement agent for this fundraise and Kirkland & Ellis provided legal services.

HKW V follows HKW Capital Partners IV LP which had a final closing in April 2014 with $319 million in capital.

© 2019 Private Equity Professional | October 2, 2019

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