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Alternative Market Briefing

Warren Equity raises $673m for infrastructure-focused buyout fund

Wednesday, May 05, 2021

Laxman Pai, Opalesque Asia:

Warren Equity Partners, a private equity firm that invests in the lower middle market primarily in North America, has wrapped up its latest fundraising effort with $673 million.

According to a press release from the firm that backs industrial businesses focused on upgrading and supporting infrastructure and buildings, the final tally for Warren Equity Partners Fund III LP and a related parallel fund more than doubled the initial size of the Florida-based firm's previous fund, which closed with $310 million in 2019.

Founded in mid-2015 by Steven Wacaster, Scott Bruckmann, and Henrik Dahlback, WEP invests in the form of buyouts and recapitalizations in established North American companies with a focus on businesses that maintain, operate, and upgrade infrastructure. The Firm currently manages $1.2 billion and has completed 48 transactions, including the acquisition of 14 platform companies, since inception.

Steven Wacaster, Co-Founder and Managing Partner said: "As a continuation of the strategy we executed in prior funds, WEP III will focus on investing in companies providing critical infrastructure solutions and partnering with talented management teams to build great companies."

WEP III has completed two platform investments to date, including ADB Companies, a turnkey provider of telecom and utility infrastructure solutions, and Magnolia River, a provider of technology-enabled, underground infrastructure inspection services.


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