Geneva Glen Capital, a private equity firm headquartered in Chicago, is launching a fund in partnership with Wanxiang America.
Adam Schecter has joined Jeff Gonyo to co-lead the fund.
GGC will invest in lower middle-market companies (generally under USD100m enterprise value) in the US and Canada, partnering with successful management teams to acquire proven private companies with leading market positions, significant growth potential and stable cash flows.
Wanxiang America has provided the committed capital for GGC to target companies with Ebitda between USD3m and USD20m.
GGC invests up to USD40m of equity per company in order to acquire businesses, provide growth capital, or partner with industry executives who are looking to purchase a company and need a value-added sponsor to execute on their strategy.
Wanxiang, whose US headquarters are based in Elgin, Illinois, is a privately-owned company with approximately USD10bn in worldwide revenues across many industries and geographies.
GGC will be able to leverage Wanxiang’s resources across the globe to assist its portfolio companies with a range of initiatives, including new market and customer penetration and supply chain optimisation.
Gonyo and Schecter, the principals of GGC, each have over 20 years of investment and transactional experience across a wide variety of industries, transaction types and economic cycles.
Schecter was previously a managing partner with WHI Capital Partners and Gonyo spent over ten years as a partner with Wind Point Partners prior to GGC.
GGC will focus on the following industries: business and consumer services; consumer products and food; environmental services; for-profit education and training; healthcare; niche industrial manufacturing; publishing, media and information services; specialty insurance and value-added distribution.
