CCMP Growth Closes Fund in Excess of Targeted $500 Million of Commitments
17 Julio 2024 - 7:30AM
Business Wire
Fund Has Already Invested in Four High-Growth
Companies in the North American Consumer and Industrial Sectors
CCMP Growth Advisors, LP (“CCMP Growth”), a growth-oriented
middle-market private equity firm, today announced the successful
final close of CCMP Capital Investors IV, LP, together with its
parallel fund vehicles (“CCMP IV”), in excess of its fundraising
target of $500 million in aggregate capital commitments. CCMP IV is
solely focused on investing in high-growth, middle-market companies
in the North American Consumer and Industrial sectors, often in
partnership with family owners and entrepreneurs.
CCMP Growth was formed in 2022 as the successor to CCMP Capital
Advisors, LP (“CCMP Capital”), as part of a long-planned transition
to the next generation of leadership to manage new capital
deployment. CCMP Growth is led by Co-Managing Partners Joe
Scharfenberger and Mark McFadden, alongside an experienced and
committed team of investment professionals.
CCMP IV secured commitments from a diverse investor base,
including domestic and foreign public and corporate pension funds,
insurance companies, financial institutions, family offices and
high net worth individuals. The investor base includes more than 25
C-suite executives or board members from CCMP Capital’s legacy
portfolio companies, several of whom are playing an active role as
board members of current CCMP Growth portfolio companies.
“We are thrilled to have achieved our fundraising goals for CCMP
Growth through the support of many longtime CCMP Capital limited
partners and a number of new investors,” said Mark McFadden,
Co-Managing Partner. “This is an important milestone for the firm,
particularly given the ongoing challenges of the fundraising
environment. The success of this fundraise is a credit to the work
our team has done to define and execute on our strategy by building
an outstanding portfolio, and serves as a testament to the
confidence and trust of our limited partners. We look forward to
delivering outstanding returns for our investors.”
Joe Scharfenberger, Co-Managing Partner, added, “We are proud to
have partnered with four dynamic growth companies thus far in the
CCMP IV portfolio, supporting their continued expansion through the
completion of 11 add-on acquisitions over the last 12 months. We
also want to thank our retired partners, many of whom are investing
in the fund alongside us, and who have provided great counsel and
support as we completed this first fundraise for CCMP Growth.”
CCMP Growth pursues market-leading companies growing over 10%
annually in high-growth subsectors of the Consumer and Industrial
economies, with company EBITDA typically in the $15 million to $75
million range. The firm has defined four core values: Growth,
Focus, Commitment, and Partnership. By living these values, CCMP
Growth helps talented company founders and business leaders scale
their companies and create life-changing professional and
wealth-creation opportunities for their employees, while
positioning their businesses for sustainable, long-term success and
generating attractive returns for investors.
CCMP Growth is well-aligned with its investors, with over 10% of
CCMP IV commitments coming from CCMP Growth’s employees, executive
advisors, and former partners.
CCMP IV has already invested in four companies:
- Mammoth Holdings, a high-growth operator of 140 express car
wash locations across the Southeast and Midwest U.S.;
- Omnia Exterior Solutions, a partnership platform for
entrepreneur-owned roofing and exterior remodeling companies across
the U.S.;
- Decks and Docks, the largest value-added specialty distributor
of marine contractor and outdoor living building products to
specialty contractors in the U.S.; and
- Innovative Refrigeration, the leading design-build engineering
and aftermarket services provider for the industrial refrigeration
market.
Aligned with CCMP Growth’s focus on double-digit growth
companies, these four platforms achieved, on average, 16% revenue
growth and 21% EBITDA growth in 2023. All four investments featured
strong reinvestment from existing executives and founders, and in
each case CCMP Growth’s limited partners have provided equity
co-investment alongside CCMP IV.
Ropes & Gray served as legal advisor, CrossBay Capital
Partners acted as North American placement agent, and Spartan
Advisors acted as European placement agent for CCMP IV.
About CCMP Growth
CCMP Growth is a New York based growth-oriented private equity
firm focused on making lead buyout and growth equity investments in
middle-market companies in the Consumer and Industrial sectors,
primarily in North America. CCMP Growth leverages the deep
investment experience of its team to identify high-growth companies
in transition, and partners with management to help each platform
scale through strategic and operational support. Visit
www.ccmpgrowth.com.
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