Allied Industrial Partners (AIP) has held a final and above target closing of its oversubscribed debut fund, Allied Industrial Partners I-A and I-B LP (Fund I), at its $300 million hard cap. The new fund’s original target was $250 million.
Institutional investors in Fund I include pensions, insurance companies, financial institutions, foundations, funds-of-funds, and family offices. Additionally, more than 10% of the fund’s capital was committed by members of Allied’s senior team. With the close of Fund I, AIP now has more than $1 billion in assets under management.
“Allied was founded on the principle of applying deep operational expertise to high-growth industrial businesses, and we are grateful for the trust and support of our investors and other supporters,” said Bradford Rossi and Philip Wright, co-founders and managing partners of AIP, in a released statement. “Fund I enables us to accelerate our proven strategy of driving operational improvements to scale sustainable, resilient industrial platforms.”
Today, AIP has expanded into a 15-person team with both financial and operational capabilities. Prior to raising Fund I, Allied invested over $200 million of equity across five investments between November 2020 and December 2023. AIP expects that Fund I will be more than 70% deployed and allocated by the end of 2025.
Since its founding in 2019, Allied has made 7 platform investments and completed 30 add-ons including Dovetail Infrastructure Services, a Texas-based developer and operator of utility-scale water infrastructure projects (2020 to 2024); CES Power, a Florida-based provider of mobile power and temperature control for live events (2021); Waste Eliminator, a Georgia-based waste management company (2021); Wall Recycling, a North Carolina-based waste management company (2022); Mat Tech Industrial Services, a Texas-based provider of rental and environmental services (2023); Celebrity Coaches, a Tennessee-based provider of transportation services for live entertainment events across the US (2024); and JCL Energy, a Pennsylvania-based manufacturer and provider of support services for transformers and electrical components (2024). Both Celebrity Coaches and JCL Energy were invested through Fund I.
Both Celebrity Coaches and JCL Energy are portfolio companies of Fund I.
“Over the past six years, we have built Allied into a firm that is deeply engaged with its portfolio companies and uniquely positioned to create lasting value,” added Messrs. Rossi and Wright. “Fund I is a testament to the strong relationships we have cultivated with our investors and management teams, and we are excited to deploy this capital into opportunities that align with our investment philosophy. We look forward to building on this momentum as we continue to identify and scale the next generation of industrial leaders.”
Allied Industrial invests in lower and middle-market companies with EBITDA from $5 million to $30 million. Sectors of interest include industrial rentals, manufacturing, distribution, environmental services, and infrastructure. The firm was founded in 2019 and is headquartered in Houston.
© 2025 Private Equity Professional | April 30, 2025
