Private equity firm Guardian Capital Partners has completed the final closing of Guardian Capital Partners Fund I with slightly more than USD50m in aggregate capital commitments.
The fund’s principal focus is to lead the acquisition of controlling interests in lower middle market manufacturing and service businesses in the US.
“We are extremely pleased to have a final close on Guardian Capital Partners Fund I,” says Peter Haabestad (pictured), managing partner of Guardian Capital Partners.
“The lower middle market is underserved and provides unique opportunities to build more efficient, higher performing and safer businesses. By implementing an exceptional level of discipline, controls, strategic oversight and a relentless focus on operational excellence within our companies, Guardian Capital Partners strives to position itself as a leading private equity partner for businesses with historical revenue between USD15m and USD75m per year.”
The fund is backed by institutional limited partners including investment affiliates of Argosy Capital, Bowside Capital, Hauser Capital Partners and Massachusetts Mutual Life Insurance Company.
Guardian Capital has made two acquisitions through its new fund: Sure Fit, a provider of ready-made slipcovers and related accessories; and Corporate Call Center, a business outsourcing service provider to the insurance, healthcare, financial services and other industries.
Guardian Capital is managed by three investment professionals: Scott D. Evans, Haabestad and Hugh Kenworthy III.
