Firm: Arlington Capital Partners
Fund: Arlington Capital Partners III LP
Target: $750 million
Raised To Date: More than $300 million
Placement Agent: Credit Suisse
In October 2008, Buyouts reported that Arlington Capital was readying fundraising materials for its third fund. The firm officially launched
According to our source, the firm tried to get to a rapid first close, not fully recognizing that many limited partners did not have the liquidity at the time to make a pledge. “Anyone who could re-up with them has re-upped with them,” the source added, adding that the firm is unlikely to hold a final close for the fund before the end of this year.
The firm invests in mid-market companies, mainly in the United States, with values of between $50 million and $500 million. In August, TSI Group Inc., a thermal management and electronics cooling company and a portfolio company of Arlington Capital, acquired J.A. Reinhardt and Co., a provider of brazing and thermal management solutions. And in September, another portfolio company, Chandler/May Inc., a provider of military ground control stations, acquired AeroMech Engineering Inc., a provider of unmanned aircraft engineering services and manufacturing.
Jeffrey Freed, managing partner, and Robert Knibb, partner, founded the firm in 1999.