The Beekman Group Closes Third Lower Middle-Market Buyout Fund at $230 Million Hard Cap

January 08 - 2015
Related Company: TBG Food Acquisition Corp.

Beekman to Continue Building Lower Middle-Market Companies in Partnership with Management

NEW YORK, NY — The Beekman Group LLC announced today the first and final closing of Beekman Investment Partners III, LP (“Beekman III”) at $230 million in equity commitments.

Beekman III will continue the successful strategy employed by its first two funds, investing in lower middle-market services companies with enterprise values ranging from $15 million to $75 million in three focus industry sectors – consumer, healthcare and business services. Beekman takes an active role in working with its management teams and guiding its portfolio companies’ growth initiatives and improving operations, in conjunction with a team of seasoned operating executives, who are actively involved in industry analysis, investment sourcing, diligence and company oversight. The Firm’s investment team is led by Founder and Managing Partner, John G. Troiano, a former partner at Onex Corporation, and by Managing Directors, Andrew Marolda and Andrew Brown.

“We are very pleased by the strong investor interest and a single close at our hard cap of $230 million after just three months of fund raising,” said John G. Troiano of The Beekman Group. “We have remained focused on investing in great companies within our core strategy while continuing to generate top quartile returns for our limited partners over the past 10 years. We appreciate the strong support from our existing and new limited partners.” Investor demand for Beekman III was more than double the hard cap amount of $230 million and limited partners include a highly regarded group of institutional investors including several endowments, family offices, global asset management firms, insurance companies and pension funds. The General Partner, along with certain of its affiliates and associates, also committed approximately 15% of total commitments to Beekman III.

The Beekman Group’s previous fund, Beekman Investment Partners II, LP (“Beekman II”), held its initial closing in 2011 and final closing in December 2012 with $100 million in commitments and has made seven platform investments. Beekman III will continue to follow its successful strategy of making control investments in lower middle-market service companies and creating value through operational improvements as well as accelerating revenue and EBITDA growth.

Sparring Partners served as exclusive financial advisor and placement agent to The Beekman Group for Beekman III as well as Beekman II. Sparring is an SEC registered broker-dealer and member of FINRA and has been the placement agent for top buyout, growth equity and venture firms. Sparring Partners also assist clients in equity and debt capital raising and sell-side M&A advisory. White & Case LLP acted as legal advisor to Beekman III.

About The Beekman Group

Founded in 2004, The Beekman Group is a leading private equity firm based in New York City, dedicated to bringing financial and operational resources to lower middle-market companies. Beekman’s team consists of experienced private equity professionals, as well as a select group of operating executives who are leading executives in Beekman’s targeted industry segments. This approach to investing is the cornerstone of Beekman’s investment strategy — creating value through accelerating growth in partnership with small and middle-market management teams.

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