Transom Capital Group, a private equity firm focused on operational improvements in the middle market, closed Transom Capital Fund IV at $675 million in capital commitments, more than double the size of its previous fund and exceeding its target and initial hard cap.
Investors in Fund IV include endowments and foundations, corporate and public pension plans, insurance companies, funds-of-funds and family offices. Transom also closed an additional $79.5 million in co-investor capital commitments.
“The oversubscribed closing of Fund IV marks a significant milestone for Transom and we believe is reflective of our 16-year track record and dedication to our longstanding, consistent strategy of creating value through operational improvements in the middle market,” Russ Roenick, co-founder and managing partner of Transom, said. “We are extremely grateful for the support from our longstanding existing and new limited partners globally.”
“Fund IV is off to a tremendous start with our team having already closed three platform investments, all of which we believe are positioned to perform strongly, and we have an expanding pipeline of promising future opportunities,” Ken Firtel, co-founder and managing partner, said.
Transom also raised $79.5 million of capital commitments in co-investment from its limited partners in connection with the acquisition of Virginia Tile, which, in combination with existing portfolio company Galleher, formed Artivo Surfaces, a flooring and tile products distribution company across the Midwest and Western United States. Artivo Surfaces was the second investment out of Fund IV.
Proskauer Rose served as fund counsel.
