CIVC Partners, LP (“CIVC”), a Chicago-based middle market private equity firm, is pleased to announce the closing of CIVC Partners Fund V, LP (the “Fund” or “Fund V”), with approximately $400 million of capital commitments, surpassing the target of $375 million. Fund V received support from a diverse group of existing and new investors, including pension programs, university endowments, foundations, family offices, and financial institutions located across the U.S., Europe, and Asia. Kirkland & Ellis served as legal counsel, while Atlantic‐Pacific Capital served as placement agent.
CIVC makes buyout and growth equity investments in the lower middle market, targeting companies with EBITDA levels above $5 million primarily located in the United States within the business services and financial services sectors. Consistent with prior funds, Fund V will employ CIVC’s immersion-based sourcing strategy to invest in healthy, growing companies and partner with management teams to drive value through organic growth, new products/channels, greenfield expansion, and selective add-on acquisitions.
“CIVC Partners will continue its 27 plus year history of partnering with founders and business owners to grow service oriented companies in the business services and financial services industries. We are thankful to our existing limited partners who supported a new commitment to Fund V and all our new investors who understand and value the nuances of our strategy and process for creating strong returns” said Dan Helle, Partner.
Chris Perry, Partner, added, “The successful fund raise, in terms of commitments and investor base, demonstrates a strong endorsement of our team, sourcing strategy, value creation approach and performance. We look forward to a long relationship with all of our partners.”
With the closing of Fund V, CIVC promoted John D. Wright (J.D.) to Partner and Doug Potters to Principal. J.D. joined CIVC in 2008 and has been active in originating and executing investments in business services. J.D. serves on the boards of utility services provider, Track Utilities, and asset-light logistics provider, Magnate Worldwide. Doug joined CIVC in 2011 and is on the boards of Equipment Transport, a provider of well-site services and Yellowstone Landscape, a provider of commercial landscape maintenance services from Texas to North Carolina. Doug also works closely with KPA, a provider of environmental, health and safety compliance software and services.
“The promotions of J.D. and Doug further strengthen our investment team, which has worked together an average of over 16 years,” said Chris Geneser, Partner. “Both will be key figures in the future of CIVC Partners as they network with business owners and management teams to create investment opportunities for Fund V and beyond.”
About CIVC Partners, L.P.
CIVC Partners is a Chicago-based private equity firm investing in high growth middle market companies in the business services and financial services sectors. Since 1989, the team has invested over $1.5 billion in 60 platform companies and over 100 add-on acquisitions. CIVC’s current portfolio consists of companies providing utility services; engineering services; commercial landscape maintenance; point-of-sale financing; auto loan financing; environmental, health and safety compliance software and services; logistics services; well-site services; mortgage loan origination and servicing; and infrastructure and repair services. More information on CIVC Partners and its portfolio companies can be found at www.civc.com.