Post Capital Partners has held a first closing of Post Capital Equity Partners III, its second fund, at $52 million. The target size of the fund is $100 million.
“We are very pleased with the reception that our fund has received to this point in the marketplace. At the same time, we remain focused on partnering with proven operators who share a clear vision to transform businesses and materially enhance shareholder value,” said Mitch Davidson, a Managing Director and co-founder of Post Capital.
Earlier this month, an investment group led by Post Capital Partners acquired the solid waste operations of Waste Management in Puerto Rico. Joining Post in the investment group is 30-year waste management industry veteran Randy Jensen. Waste Management will remain an investor in the new company, which is called EC Waste. The transaction also includes landfill and hauling operations in Alabama. The acquisition of the Waste Management Puerto Rico operations is the first investment for Post Capital Equity Partners III.
Post Capital invests from $5 million to $15 million of equity in companies with $10 million to $100 million of revenue and a minimum EBITDA of $2 million. Industries of interest include business services; financial/insurance services; consumer products and services; healthcare services; media and publishing; niche manufacturing and industrial; and transportation and logistics. Post Capital was founded by Mitch Davidson and Michael Pfeffer and is based in New York (www.postcp.com).
“Mitch and Michael have worked together for 10 years successfully executing their strategy. Given this level of experience and fund size, they are well positioned to enjoy continued success,” said Rafael Astruc of Garrison Securities. Mr. Astruc has partnered with Post Capital to invest in the fund and is also acting as a strategic advisor and helping to diversify and expand Post Capital’s investor base.
© 2014 PEPD • Private Equity’s Leading News Magazine • 5-20-14
