Private equity firm Tailwind Capital has held the final closing of Tailwind Capital Partners II in excess of its USD750 million target, raising a total of USD1.05 billion of committed capital.
Fund II will pursue the same investment strategy Tailwind has employed since its inception – partnering with leading entrepreneurs and management teams in North America to transform businesses through organic growth initiatives, acquisitions, and operational and strategic improvements. Tailwind’s team of 27 investment professionals and senior operating executives works collaboratively with portfolio company management to build sustainable growth businesses.
Fund II received commitments from existing and new investors, including pension funds, insurance companies, endowments and foundations, family offices and high net worth individuals.
Larry Sorrel, Managing Partner, says: “We greatly appreciate the loyalty and continued support of our existing investors and are pleased to welcome many new limited partners to the firm. We believe the successful completion of Fund II is an important milestone for Tailwind, validating our track record, investment strategy and the strength of our team. We continue to believe that there are attractive opportunities ahead in the healthcare, business and communications services sectors, and are squarely focused on delivering superior returns to our investors.”
The firm targets equity investments of USD25 million to over USD100 million in companies with enterprise values of up to USD300 million. Since its founding in 2003, Tailwind has invested over USD1 billion in 27 portfolio companies and, with those companies, has completed over 65 acquisitions.
Representative investments include: Aircast, a manufacturer of orthopedic bracing devices; Apex Companies, an environmental services and consulting company; Archway, a marketing management and logistics provider; Cumberland, a healthcare IT consulting firm; Diamondback Drugs, a veterinary pharmacy; Lieberman Research Worldwide, a provider of consultative market research, data analytics, and data collection services; Long’s Drugs, a specialized pharmacy services provider; Nsight, a regional telecommunications business; Oceus Networks, a communication systems integrator; Optimal, a SAP consulting, staffing and implementation firm; ReTrans, a third-party logistics provider; TowerCo, an owner and developer of wireless communications towers; Trover Solutions, an insurance subrogation and claims recovery provider; and Versapharm, a generic pharmaceuticals company.
MVision Private Equity Advisers acted as global fundraising advisor and Davis Polk & Wardwell LLP acted as legal advisor.