{"id":659091,"date":"2013-05-20T18:22:34","date_gmt":"2013-05-20T22:22:34","guid":{"rendered":"http:\/\/www.pehub.com\/?p=203172"},"modified":"2013-05-20T18:22:34","modified_gmt":"2013-05-20T22:22:34","slug":"centerfield-capital-closes-fund-iii-at-171-mln","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/659091","title":{"rendered":"Centerfield Capital Closes Fund III at $171 Mln"},"content":{"rendered":"

Centerfield Capital Partners<\/strong> said Monday that its third fund raised more than $171 million. Centerfield Capital Partners III exceeded its $150 million target. Centerfield provides subordinated debt and equity capital to lower middle market companies.<\/p>\n

PRESS RELEASE<\/p>\n

Indianapolis, IN, May 20, 2013 \u2013 Centerfield Capital Partners announced today the final closing of its third fund, Centerfield Capital Partners III, with aggregate commitments exceeding $171 million. The firm\u2019s strategy of investing in privately held, high performing companies in the lower middle market attracted strong support from both existing and new investors. Commitments to the fund exceeded Centerfield\u2019s $150 million target and represent approximately a 50% increase in the amount of capital committed to Centerfield\u2019s second fund.
\nLike its predecessor funds, Centerfield III will invest a combination of subordinated debt and equity in the companies in which it invests. \u201cOur firm provides capital to businesses generating $15 to $100 million in revenue. Our goal is to invest approximately two-thirds of our capital in high coupon subordinated debt and one third in equity,\u201d explained Tom Hiatt, Founding Partner of the firm. \u201cTypically, we invest between $4 and $12 million in each transaction, although we have the capacity to arrange up to $30 million in financing with participation from our institutional limited partners.\u201d
\n\u201cRegardless of fluctuations in the economic environment, we maintain a disciplined approach to investing,\u201d said Scott Lutzke, Founding Partner. \u201cWe back companies with a history of growth and profitability which are led by strong management teams. Conservative valuations are also a critical element to our strategy. We are cautious in the amount of leverage we use to finance our portfolio companies, and believe this discipline has been instrumental to our success.\u201d
\nCenterfield provides capital for change of control transactions, recapitalizations, acquisitions, and growth initiatives. \u201cWe pride ourselves on our flexibility to invest a combination of subordinated debt and equity that meets the needs of the sponsor,\u201d explained Matt Hook, Partner. \u201cWe work closely with funded and independent financial sponsors, and with management teams, who acquire control ownership positions in companies poised for growth. We have a broad range of industry interests, and a particular interest in firms engaged in manufacturing and business services.\u201d
\nFaraz Abbasi, Partner, added, \u201cCenterfield provides a logical alternative to a business owner or management team who may not want to sell a controlling interest in their company. Often, a business owner or management team may wish to raise capital for an acquisition, to take out a retiring partner, or to diversify wealth while maintaining operating control of a company and participating in another stage of growth. Centerfield prefers to invest in situations where most of the individuals responsible for a company\u2019s past successes will continue to stay involved to take the company to the next level.\u201d
\nCenterfield Capital Partners III has already made eight investments from the new fund.<\/p>\n

RIO Brands
\nConshohocken, PA Supplier of outdoor furniture and accessories for the beach, backyard, patio, and other outdoor venues
\nVenture Technology Groups
\nFarmington Hills, MI Distributor of industrial components to the process manufacturing and energy industries
\nMatilda Jane Clothing
\nFort Wayne, IN Designer and marketer of uniquely styled children\u2019s clothing and products
\nDirect Marketing Solutions
\nPortland, OR Develops and executes direct marketing programs on behalf of Fortune 1000 companies
\nDuplication Services
\nNew York, NY Provider of video post-production services, including video content processing and distribution
\nBanner Service Corporation
\nCarol Stream, IL Precision processor and distributor of metal bars to the general industrial and medical markets
\nImaginetics
\nAuburn, WA Manufacturer and assembler of complex precision parts for use on commercial and military airframes
\nBattery Solutions
\nHowell, MI Leading provider of battery recycling services and products<\/p>\n

Investors in Centerfield III include pension funds, fund-of-funds, global and regional banks, insurance companies, foundations and high net worth individuals.
\nFor additional information, please contact Tom Hiatt or Scott Lutzke at (317) 237-2323.
\nAbout Centerfield
\nCenterfield Capital Partners is a leading provider of subordinated debt and equity capital to lower middle market companies. We work closely with financial sponsors, management teams and business owners who seek mezzanine and equity financing to grow companies. Founded in 1998, Centerfield has invested in 40 companies and currently manages in excess of $300 million.<\/p>\n

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Centerfield Capital Partners said Monday that its third fund raised more than $171 million. Centerfield Capital Partners III exceeded its $150 million target. Centerfield provides subordinated debt and equity capital to lower middle market companies. PRESS RELEASE Indianapolis, IN, May 20, 2013 \u2013 Centerfield Capital Partners announced today the final closing of its third fund, […]<\/p>\n","protected":false},"author":7426,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-659091","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/659091","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7426"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=659091"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/659091\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=659091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=659091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=659091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}