Huntington Capital, a private equity firm focused on growth capital investments, has announced the closing of USD78m in capital commitments for Huntington Capital Fund II, its second me
Huntington Capital, a private equity firm focused on growth capital investments, has announced the closing of USD78m in capital commitments for Huntington Capital Fund II, its second mezzanine fund.
The target size for the fund is USD100m, with the first round of funding completed in May 2008 and an anticipated final close in early 2009.
Founded in 2000, Huntington provides debt and equity financing to established lower middle-market companies located primarily throughout California and the south-western US.
Huntington seeks to fund high growth companies demonstrating the following characteristics: generating revenues between USD10m and USD50m; funding requirements of between USD1m and USD6m; and positive cash flow, experienced management team, strong customer base and defensible market position
"The capital that we provide allows our portfolio companies to execute upon growth initiatives that they wouldn’t otherwise be able to consider in light of today’s market conditions," says partner Tim Bubnack (photo). "Our funds are typically used to support management led buy-outs, acquisitions, recapitalizations or other general working capital purposes. Because of the flexible ways that we can structure a transaction, it is not necessary for our clients to sell or take their company public."
