Philadelphia-based private equity firm Boathouse Capital completed a final close on Boathouse Capital II at $230m.
Via this second SBIC fund, Boathouse Capital will invests $5 million to $25 million of mezzanine debt and equity into lower middle market businesses across the U.S that generate $1.5 million or more of EBITDA for growth, acquisitions, strengthening balance sheets and facilitating desired ownership transitions.
To date, the fund has made investments in KBP Foods and Solomon Edwards.
Led by Ken Jones, Managing Partner, the firm manages $350m in two separate funds.
Boathouse Capital has also added Ben Chang (Associate) and Shivam Patel (Associate) to support the investment team execute transactions and help manage the portfolio, as well as Steve Dressel (Business Development Associate) to help on every step of the investment process from sourcing to realization.