Gen Cap America, a Nashville, Tenn.-based private equity firm, closed its seventh buyout fund, at $250m.
Southvest Fund VII LP, which was raised largely from institutional investors including state and municipal pension plans, will invest in management buyouts and recapitalizations of lower middle-market companies with proven operating histories and revenues typically between $5 million and $100 million.
It will target businesses with a history of strong cash flow, avoiding turnaround or start-up investments.
Led by Barney Byrd, president and chief executive officer, and Don Napier, executive vice president, Gen Cap previously announced Pyramyd Air Ltd. as Fund VII’s first acquisition in late November 2016. With distribution facilities across the country, the Solon, Ohio-based company supllies air guns, airsoft guns, BB guns and related parts and accessories to customers in more than 80 countries.