Vance Street Capital (“Vance Street”), a middle market private equity firm, held the final closing on December 31, 2021 for its third buyout fund, Vance Street Capital III L.P. (“Fund III”), with $432.5 million in commitments, exceeding its target of $375 million. Through Fund III, Vance Street will continue to partner with founders, families, and management teams of highly engineered solutions businesses across the medical, life science, industrial, and aerospace & defense sectors.
Fund III represents an increase over Fund II, which had $250 million of commitments. Since its founding in 2007, Vance Street has now raised $1 billion of committed capital. Targeted investments are North American middle market B2B manufacturers of mission-critical products and components serving high cost of failure applications in niche markets. Over 90% of Vance Street’s acquisitions are founder-owned businesses or corporate carve outs.
Vance Street has already completed six platform investments out of Fund III since commencing the investment period. These investments include: Wytech Industries (specialty medical wire and tubing), Excel Scientific (films and foils used in life science applications), Plastic Design Corporation (medical micro molding), Spectra Aerospace & Defense (C5ISR defense electronics), McFarlane Aviation Products (PMA aerospace parts), and Polara Enterprises (pedestrian safety systems). The active portfolio totals fourteen platform investments across Funds I, II, and III.
Read more: PR Newswire
