Bunker Hill two-thirds to finish line

Boston-based Bunker Hill Capital has raised $160 million on the way to its $250 million goal and will likely close Bunker Hill Capital II by mid-year.

Bunker Hill, a lower-mid-market shop with an appetite for industrial products companies, launched the vehicle in 2008, according to a regulatory filing.

Limited partners include Hartford Life Insurance Co., Northwestern Mutual Life Insurance Co. and fund-of-funds manager White Rose. New York State Common Retirement Fund recently pledged $25 million to the fund. The firm raised $125 million for its debut fund, which closed in 2005.

The shop makes control investments in lower mid-market companies with enterprise values between $30 million and $150 million. Sectors of interest include industrial products, business services, specialty retail and consumer products.

In October, the firm developed an operating partnership with Donald Borden Jr. to assist in the identification and acquisition of companies in the water and wastewater industry, which the firm sees as a fragmented and high-growth market.

In August, Bunker Hill Capital acquired Nspro Inc., a Montreal-based provider of functional consulting services focused on SAP software architecture and configuration. No financial terms were disclosed.

Bunker Hill Capital was founded in 2003 when Mark DeBlois, Robert Clark, Theresa Nibi, Charles Miller and Jason Hurd left BancBoston Capital to launch the firm. —Nancy Gordon