Swander Pace Capital, a private equity firm specializing in investments in consumer products companies in North America and the United Kingdom, closed its latest fund, at $510m.
SPC Partners VI, L.P., exceeded its initial target of $400m with commitments almost exclusively from existing investors. The prior fund, SPC Partners V, L.P., closed in 2013 with commitments of $350 million.
Fund VI will continue the firm’s focus on middle-market consumer products companies where the firm can provide its mix of financial, strategic, and tactical support to create long-term value.
Led by Andrew Richards, Mark Poff, Mo Stout, Corby Reese, Rob DesMarais and Heather Smith Thorne, Swander Pace Capital specializes in investments in growth-oriented, middle-market consumer products companies in North America and the United Kingdom. The firm, which has cumulative equity commitments of approximately $1.8 billion, and staff in San Francisco; Bedminster, N.J.; and Toronto, Ontario, has had a number of exits, including: Renew Life Formulas to The Clorox Company, Merrick Pet Care to Nestle Purina, and Applegate Farms to Hormel Foods, in the latest 18 months.
Swander Pace also acquired two platforms in the vitamin, mineral, and supplement category – Swanson Health Products and Captek Softgel International – as well as Voortman Cookies, a manufacturer of cookies and wafers.