Resolute Capital Partners (RCP) has closed Resolute Capital Partners Fund V LP (RCP V) with $405 million in capital commitments. The new funding includes assumed leverage through RCP’s Small Business Investment Company license.
RCP V closed above its original target and received commitments from several new limited partners and many investors from prior funds, including banks, insurance companies, funds of funds, foundations and individuals. Also investing in the RCP V are several executives and board members from prior RCP portfolio companies.
RCP invests from $5 million to $40 million per transaction in United States-based businesses with $5 million to $150 million in revenue and $1 million to $10 million of EBITDA. The firm’s investments include both subordinated debt and equity for growth capital, buyouts, acquisitions, recapitalizations and refinancing.
“We are excited to have the support of our investors and the SBA to continue doing what we do best, assisting growth-oriented small companies with capital and expertise,” said Bill Nutter, RCP’s managing partner. “RCP is committed to remaining actively engaged with thriving companies in the small business community. With our robust capital base, we will be able to help these businesses scale and create value over several years.”
RCP V has already invested in five investments including Medspa810, a multi-site owner and franchisor of aesthetic skin care services such as injectables, laser hair removal, and body contouring; Velonex Technologies, a provider of managed IT services to small and medium-sized businesses in the Southwest and West Coast regions of the United States; Rural Partners in Medicine, a provider of outsourced surgical specialists and equipment to rural hospitals; Athenix, a California-based multi-site provider of plastic surgery services; and Behavioral Innovations, a Dallas-based provider of applied behavior analysis, speech-language pathology, and occupational therapy services to patients with autism spectrum disorder with 13 centers throughout Texas.
“Our ongoing efforts to work with private equity and independent sponsors have allowed us to maintain the momentum from our prior fund as RCP V begins its investment period,” added Mr. Nutter. “While several of our recent investments have been alongside groups with which we have previously worked, we are excited to continue expanding our deal flow network.”
To date, Nashville-headquartered Resolute has invested more than $750 million in 80 companies across its five funds. The firm’s earlier fund, Resolute Capital Partners Fund IV LP, closed in 2018 with $321 million in capital.
© 2022 Private Equity Professional | July 27, 2022
