Corporate Fuel, a New York-based lower middle-market private equity firm, closed a $35m fund.
Community Fuel Investment Partners focuses on investing in profitable businesses with successful track records in expanding markets and strong growth prospects.
The fund will make initial equity investments of $2m-$5m and often add follow-on investments as the business grows, generally investing $5m-$10m in equity over the life of a given investment.
Ideal targets have trailing EBITDA of $1m-$3m and are located in the US.
Investment areas include healthcare, business services and consumer products sectors and the spin-off of small operating divisions of larger companies, partnering with management.
Led by John Simons, Charles Lachman and Russ Fein, who have been together since the formation of CF’s first fund nearly ten years ago, Corporate Fuel Partners is currently investing out of Community Fuel Investment Partners, its second buyout fund and has a total of $55m in assets under management.