Boston, MA and San Francisco, CA-based Seacoast Capital Managers, LLC held the final close on its third mezzanine fund, at over $150m.
Limited Partners include family offices, funds of funds, national and regional banks, and high net worth individuals.
Seacoast Capital Partners III, L.P. is a registered Small Business Investment Company (SBIC), and will have access to over $100m in debenture funding from the United States Small Business Administration. The fund already invested in Mountain Alarm and FAPS. Founded in 1994 and led by partners Tom Gorman and Jeff Holland, Seacoast typically provides between $3m and $12m of debt and equity capital for acquisitions, growth, shareholder buyouts, management buyouts, and leveraged recapitalizations to provide shareholder liquidity. the firm broadly invests in the specialty manufacturing, value-added distribution, and business services sectors.
In addition to the close of the fund, Seacoast added Patrick Gengoux as an Associate in its San Francisco office.