CIVC Partners targets at least $375 mln for Fund V

CIVC Partners V follows about five years after the Chicago-based middle-market shop raised $375 million for CIVC Partners Fund IV, according to data from Thomson One. That pool rang up an IRR of 34.2 percent for the Montana Board of Investments as of Dec. 31, 2013, according to data from the pension system.

With a focus on business services and financial services, CIVC Capital in January acquired Bunnell, Fla-based Yellowstone Landscape Group Inc for an undisclosed sum, according to its website.

CIVC Partners made a past bet on the landscaping business with its investment in The Brickman Group Ltd, a large commercial player in the U.S., according to the firm. In 2002, CIVC Partners, the Brickman family and co-investors put up $195 million of equity, plus $150 million in high yield bonds and an $80 million senior credit facility to fund a dividend recap in The Brickman Group, according to a statement from the firm. In late 2013, Kohlberg Kravis Roberts & Co set plans to buy The Brickman Group for $1.6 billion from shareholders, which also included Leonard Green & Partners.

Also on the acquisition front, CIVC Partners completed a deal to buy Meridian, Indiana-based Track Utilities, as well as KPA Services LLC, last year. The firm’s EN Engineering platform, a specialist in engineering and consultant services for the energy and power sectors, has added on two companies: Russell Corrosion Consultants in 2014 and Eta Engineering Consultants in 2013. 

On the exit front, CIVC sold Shelter Mortgage to New Penn Financial in 2014.

CIVC is headed up by six partners: John Compall, Daniel Helle, Christopher Perry, Scott Schwartz, Marcus Wedner and Keith Yamada.

CIVC Partners typically seeks deals with companies with at least $5 million of EBITDA, with equity investments of $15 million to $85 million, according to its website

A spokesperson for CIVC Partners did not return a phone call.