Radnor, PA-based Private equity firm Milestone Partners closed its latest fund at $300m.
Milestone Partners IV’s limited partners include institutional investors, family offices and individuals from various domestic, European and Middle Eastern institutions.
The fund invests in leveraged buyouts and recapitalizations of lower middle market businesses that provide high-margin products or services.
During the fundraising period, Milestone IV invested $71m, completing four acquisitions, including:
– Machine Laboratory, a Kansas-vased manufacturer of ultra-high precision components;
– Image API, a Florida-based business services provider to state and local government agencies;
– Martex Fiber, a South Carolina-based manufacturer of recycled textiles; and
– Southern Management, a South Carolina-based provider of consumer installment loans.
In connection with the close of the new fund, the firm promoted John Nowaczyk to Partner and Dan Ryan to Principal and Head of Business Development.