Continuim Equity Partners has held a final and above target closing of its inaugural fund, CEP Fund I LP (Fund I), with a total of $100 million of capital.
Continuim invests in family and founder-owned niche manufacturers, value-added distributors, and aerospace and defense companies that have $10 million to $50 million of revenue and $3 million to $10 million of EBITDA. Typical transaction types include buyouts and majority recapitalizations.
The Pittsburgh-headquartered firm, with committed capital from ex-Fortune 500-level industrial executives, invests across the United States but prefers companies located in western Pennsylvania and the surrounding region.
Continuim was founded in April 2021 and is led by Managing Partner George Pilafas, President Henry Watson, Partner Brian Dandrea, and Senior Associate Taylor Songer.
“On behalf of our entire team, we want to thank our investors, advisors, and the business owners that we’ve partnered with since founding our firm last year,” said Mr. Pilafas. “The successful execution of our unique strategy has led to strong portfolio performance and contributed to surpassing our fundraising target for Fund I. With this new capital, we endeavor to continue the success of our initial investments by partnering with management, implementing lean manufacturing principles, increasing profitability and generating superior returns for our investors.”
Continuim has already closed on two platform investments with the buy of Anker Industries, a Pennsylvania-based provider of metallurgical powders and briquettes, aluminum processing and slag design services to steel producers (June 2021); and Merlot Vango, a Pennsylvania-based manufacturer of retractable tarp systems used to cover flatbed trailers and drop deck trailers (September 2021).
“As a former owner and operator of a family-owned manufacturing business, it’s rewarding to have quickly formed such strong relationships with the prior owners of our portfolio companies and those in our pipeline,” said Mr. Watson. “We are excited to continue partnering with family-owned industrial businesses in our region as we deploy Fund I.”`
Continuim did not use a placement agent on this fundraising.
© 2022 Private Equity Professional | June 3, 2022
