News Summary
Carr’s Hill Capital Partners, based in New Orleans, has successfully raised $210 million in its inaugural fund, surpassing its original target of $175 million. The firm, which focuses on investing in family-run businesses in the industrial and infrastructure services sectors, aims to provide strategic support and enhance operations for its portfolio companies. With a solid leadership team and diverse backing from various investors, Carr’s Hill is set to make significant contributions to the investment landscape, particularly in the Southeastern U.S.
New Orleans Firm Hits a Home Run with $210 Million Fundraise
In a remarkable turn of events, New Orleans-based Carr’s Hill Capital Partners has made waves in the investment world by closing its first fund with a whopping $210 million. This exciting announcement has turned heads, especially since the firm was only aiming for an initial target of $175 million. With strong backing from multiple investors, the fund was oversubscribed and completed in just nine months.
A Quick Overview of Carr’s Hill Capital Partners
Founded in 2019, Carr’s Hill Capital Partners Management, LP is shaping itself as a major player in the investment landscape. The firm focuses on investing in family-run and founder-owned businesses mainly within the industrial and infrastructure services sectors. With a keen eye for opportunity, Carr’s Hill seeks out companies exhibiting strong fundamentals and untapped potential, particularly in the thriving ecosystem of the Gulf Coast.
What’s Inside Fund I?
The exciting Carr’s Hill Fund I will target investment opportunities in companies boasting an EBITDA ranging from $5 million to $15 million. This segment of the market is ripe for investment, as there are countless businesses looking for financial support and strategic guidance to reach their potential. The firm currently boasts four active platform investments and has made nine add-on acquisitions, showcasing its commitment to creating lasting partnerships and driving growth.
Meet the Team Behind the Magic
At the helm of Carr’s Hill is H. David de Lauréal, who previously served as a managing director at another notable investment firm, Bernhard Capital Partners. Under his leadership, the firm has grown to a solid team of ten members, ready to tackle the challenges of the investment world head-on.
Carr’s Hill has successfully attracted a diverse array of clients, including the likes of Matthews Brothers Dredging, SMART Safety Group, Arrow Waste Inc., and AXIS Industries. It’s evident that the firm’s local connections and industry expertise are yielding impressive results, making it a noteworthy force in the investment arena.
Who is Investing?
The impressive pool of investors backing Fund I includes endowments, insurance companies, fund-of-funds, asset managers, family offices, founders, and executives from across North America. This array of backing signifies a strong confidence in Carr’s Hill’s vision and strategies for generating substantial returns. The success of this fundraise was facilitated by the expert guidance of the Piper Sandler & Co. private capital advisory group, who served as the exclusive placement agent, alongside legal counsel from Latham & Watkins LLP.
Why the Southeastern U.S.?
According to the firm, the lower-middle market in the Southeastern U.S. is an untapped segment brimming with opportunity. Carr’s Hill aims not just to provide capital, but to offer strategic and operational support for building enduring businesses in this valuable space. This commitment to enhancing the operations of its portfolio companies could set Carr’s Hill apart from other investment firms, as they focus on long-term growth rather than short-term gains.
The Road Ahead
With $210 million in the bank, Carr’s Hill Capital Partners stands poised to make significant contributions to the industrial services landscape. As the firm embarks on this exciting journey, it will be fascinating to watch how these investments unfold and how they shape the future of businesses across the Gulf Coast and beyond. Collectively, this occasion marks a significant achievement not just for Carr’s Hill but for the entire New Orleans investment community.
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