St. Cloud Capital has held a final closing of its fourth fund, St. Cloud Capital Partners IV SBIC LP, with total capital commitments of $236 million including Small Business Administration leverage.
St. Cloud makes both control and non-control investments in lower middle-market companies that have annual revenues between $10 million and $150 million. The firm typically invests from $5 million to $20 million per transaction in senior secured debt, subordinated debt, and preferred and common stock.
St. Cloud’s new fund has already closed three investments: Sentinel Offender Services, a California-based provider of electronic monitoring services to law enforcement, community corrections agencies and probation departments; Clear Sight Partners (now Sight360), a Florida-based provider of vision care services with 16 different ophthalmology, optometry and optical retail practices in the Tampa Bay metropolitan area; and Atomica Corp., a California-based maker of micro electro-mechanical systems (MEMS) and related microsystems.
“We appreciate the strong support from our broad group of institutional investors and are grateful for the confidence they have in our team,” said Kacy Rozelle, co-founder and managing partner of St. Cloud.
Fund IV is St. Cloud’s third SBIC fund. “With the closing of Fund IV, St. Cloud Capital continues to be well positioned as both a capital and strategic partner to strong management teams in the execution of their growth plans,” said Ben Hom, a managing partner of St. Cloud. “We are a relationship driven firm and strive to be the capital provider of choice for growing successful businesses that fall ‘below the radar’ of larger private equity firms, direct lenders, and the broader capital markets.”
Los Angeles-based St. Cloud Capital was founded in 2001 and with the closing of Fund IV now manages over $700 million in capital.
© 2023 Private Equity Professional | July 18, 2023
