Daily News: December 9, 2013

High Road Capital Raises $320 Million for Fund

High Road Capital Partners announced the final closing of High Road Capital Partners Fund II. Fund II hit its hard cap and raised $320 million in total commitments — in excess of its $200 million target and twice the size of its predecessor fund.

“We are very grateful for the tremendous support and trust from existing and new investors. We have a diverse group of notable limited partners who share our belief that the smaller end of the middle market represents a great opportunity to create value and deliver exceptional returns,” said Robert Fitzsimmons, co-founder and managing partner of High Road Capital Partners.

High Road’s capital base comprises more than 25 institutional investors, family offices, and high-net-worth individuals. High Road Capital Partners raised Fund II in less than 12 months and without the use of a placement agent.

“Fund II will follow our proven and successful strategy of acquiring well-performing companies in the U.S. and Canada with $3 million to $10 million in EBITDA and adding value through organic growth initiatives and complementary add-on acquisitions, and operational improvements. Our philosophy of ‘taking the High Road in everything we do’ has been an integral component of our success,” added Fitzsimmons.

To date, High Road has completed two platform acquisitions and one add-on acquisition for Fund II: The Crown Group, which acquired Electra-Finish, and SMB Machinery Systems.

High Road Capital Partners is a private equity firm focused on smaller middle-market transactions.