(Cleveland, Ohio) — CapitalWorks, LLC, held its final close on CapitalWorks Fund IV at $125,585,000 today, November 30, 2017. CapitalWorks’ traditional family investors have been joined by several leading institutional investors, including an insurance company and several family offices, to exceed the fund’s initial hard cap. Among the investor group are a large number of private business owners and executives of larger companies that have deep expertise in a wide array of industries. CapitalWorks taps into the knowledge base of its investors as they source, assess and ultimately govern their portfolio companies.
This fund will focus on acquiring control positions in lower middle market industrial businesses in the greater Midwest. Dick Hollington, Managing Director and CEO said, “Closing this latest fund enables the firm to continue to execute our long-term strategy of buying and improving lower middle market businesses.” Companies will range in size from $15 million to $75 million in sales and $3 million – $9 million in EBITDA. The firm’s focus remains on industrial businesses in manufacturing, value-added distribution, and business services.
Dick Hollington, Managing Director and CEO of the fund is joined by Managing Directors, Todd Martin and Mike Harding, and Vice Presidents, John Corrigan and Matt Lombardo, as the senior members of the firm. The firm’s Advisory Board includes the firm’s founder, Robert McCreary; as well as Jim Brown III, President, Tailwind Technologies; Nick Howley, Chairman and CEO of Transdigm Corp.; Mike Shaughnessy, retired CEO, ColorMatrix; Jack Turben, retired Founder and Chairman of Kirtland Capital Partners; and J.D. Sullivan Jr., former Chairman and CEO of Mayfran International Inc.
CapitalWorks was assisted in the institutional fundraising by Shannon Advisors LLC.
CapitalWorks (capitalworks.net) is a Midwestern and family-focused private equity firm that encourages knowledgeable investors to partner with us in finding, vetting and owning companies. The firm acquires lower middle-market companies in the Greater Midwest and invests with a bias toward value and preservation of capital. Sources for acquisitions include privately held businesses, private equity firms and larger private and public companies divesting a noncore business. Office located in Cleveland, Ohio.
CapitalWorks Media Contact
Dick Hollington, 216-472-5530; email@example.com