Morgenthaler Private Equity (MPE), a Cleveland, OH and Boston, MA-based lower middle market private equity firm, closed its oversubscribed second fund, at $250m.
MPE Partners II was subscribed by more than 30 investors including global asset management firms, insurance companies, family offices, foundations, and high net worth individuals.
Led by Karen Tuleta, Peter Taft and Joe Machado, Morgenthaler Private Equity invests in lower middle market leveraged buyouts, recapitalizations, and build-ups in high-value manufacturing and industrial services. It targets North American companies with transaction values of up to $150m as platform investments and seeks strategic add-on acquisitions globally.
MPE has invested in companies such as:
– dlhBOWLES, a designer and manufacturer of engineered plastics and fluid flow solutions for the automotive, consumer, and industrial markets;
– Trachte, a manufacturer of pre-assembled control buildings;
– B&E Group, a manufacturer of complex, precision machined aerospace and defense components and provider of overhaul and repair services for commercial aviation;
– Polytek, a manufacturer of specialty chemicals for industrial and consumer applications; and
– United Pipe & Steel, an independent master distributor of steel pipe, copper tubing, plastic pipe, electrical conduit, and related products.