Eagle Merchant Partners Soars Past Target

Eagle Merchant Partners Soars Past Target

The Atlanta-based firm's inaugural fund has already closed on six platform investments including three this year

Lower middle-market investor Eagle Merchant Partners has held an above target closing of its inaugural fund, Eagle Merchant Partners I LP,  with over $265 million in capital.

Limited partners in the new fund include United States and international institutions, endowments, foundations, wealth managers and family offices.

Atlanta-based Eagle invests in franchise, consumer, and industrial companies that are located primarily in the Southeastern United States. The firm’s typical targets have revenues of $20 million to $200 million and EBITDA of $2 million to $20 million.

In May 2023,  Fund I acquired Impact Home Services, a Tampa-based owner and operator of three home services brands, including Mr. Rooter, Mr. Electric and Precision Door Service.

One month earlier, Fund I acquired Furniture Medic, a Memphis-headquartered franchise-based company that provides furniture, wood, and cabinet restoration and repair services within the disaster restoration, insurance claims, commercial and residential sectors (April 2023); and AmeriSpec, a Memphis-headquartered and franchise-based company that provides inspection services to residential and commercial customers (April 2023).

“The Eagle team is excited about the six platform investments we have already made in Fund I, all of which are representative of our strategy,” said Bill Lundstrom, a partner and founder of Eagle. “As we deploy the rest of the fund, we look forward to partnering with additional founders, owners and management teams to help them create value and achieve sustainable growth.”

“We are grateful for the support from our previous investors and the positive response we received from our diverse group of new investors. We appreciate their confidence in our focused investment strategy and experience across our core sectors,” said Stockton Croft, a partner and founder of Eagle.

Aviditi Advisors was the placement agent for Fund I and Kirkland & Ellis provided legal services.

© 2023 Private Equity Professional | July 25, 2023

To search in site, type your keyword and hit enter