Seacoast Capital, a Boston, MA and San Francisco, CA-based lower-middle market non-control growth capital investor, closed its fifth fund, Seacoast Capital Partners V, L.P., at $280M.
The fund was established to invest non-control equity and debt capital alongside of manager/owners of businesses in support of growth, recapitalizations and management/shareholder buyouts.
Founded in 1994, Seacoast Capital invests non-controlling capital in partnership with management in lower middle market private companies. Seacoast is industry agnostic and typically invests $5 million to $30 million of capital in companies with $10 million or more in revenue and $2 million or more of EBITDA. Capital is used to support growth, refinancings, acquisitions, family ownership and wealth transfers, shareholder liquidity events, and partnership or management buyouts. Geographically, the firm invests anywhere in the United States. Since its inception, Seacoast has managed over $1B of capital, which the firm has invested in 90+ transactions.
The vehicle already made its first investment in Focus Technology Solutions, a Boston, MA-based information technology firm that designs and implements innovative IT solutions through personalized service, with expertise in next-generation data center infrastructure, managed IT services, cloud solutions and cyber security, Focus is one of the top IT solutions providers in the Northeast.
Seacoast provided Focus with a combination of equity and debt to support a majority recapitalization of the company by members of its management team and to provide working capital in support of its continued growth. In concert with the transaction, Doug Alexander stepped down as Focus’ CEO, but plans to continue his strategic relationship with the company as a member of its Board of Managers. Focus’ prior CFO Chris Caprio was simultaneously promoted to CEO.
The terms of the transaction were not disclosed.
FinSMEs
30/11/2023