Gridiron Capital, a New Canaan, Connecticut-based private equity firm, closed its third fund, at $850m in capital commitments.
Gridiron Capital Fund III raised capital in North America, Europe, and Asia with limited partners including endowments and foundations, insurance companies, public and private pension funds, fund of funds and high net worth individuals.
It will acquire controlling interests in middle-market niche manufacturing, business service, and specialty consumer product companies in the United States and Canada.
Co-founded by Managing Partners Tom Burger and Eugene P. Conese, Jr., Gridiron Capital works closely with management teams to develop strategies for portfolio companies, as well as providing resources to execute business plans and build companies.
The firm invests in companies showing a history of profitability with EBITDA of $8m to $50 and EBITDA margins in excess of 10%, haing solid franchises or being market leaders with a clear competitive advantages.