Pfingsten, a Chicago, IL-based private equity firm, closed its fifth investment fund, at $382m.
With Pfingsten Partners Fund V, L.P., the firm will continue to invest in middle market manufacturing, distribution and business services companies with transaction values ranging from $15m to $100m and EBITDA between $3m and $12m.
Led by Founder and Senior Managing Director Thomas S. Bagley, Senior Managing Director James J. Norton, and Managing Director Scott A. Finegan, Pfingsten will build value through operational improvements, professional management practices, global capabilities (through representative offices in China and India) and profitable business growth, consistent with prior funds.
Activated on January 1, 2016, Fund V plans to build a diversified portfolio of approximately 14 platform investments.
Since 1991, Pfingsten has raised five investment funds with total commitments of approximately $1.3 billion and has acquired 110 manufacturing, distribution and business services companies.