Firm: WestView Capital Partners
Fund: WestView Capital Partners II
Target: $300 million
Amount Raised: $325 million
Placement Agent: Probitas Partners
Boston-based buyout shop and emerging manager
Westview Capital began pitching the fund,
Managing Partners Carlo von Schroeter, formerly of
WestView Capital invests only in lower-mid-market U.S. companies, working with existing management teams to sponsor minority and majority investments. Industries of interest include business services, health care services, IT services, industrial, distribution/logistics, media/publishing and financial services. The group targets companies with operating profits of $3 million to $15 million, with investment sizes ranging from $5 million to $25 million. The firm can participate in larger deals via co-investments from limited partners or other co-investors.
In August, WestView Capital exited its portfolio company, Radiac Abrasives, selling the manufacturer of industrial and automotive abrasives to an Austria-based manufacturer of conventional bonded and superabrasive products after a three-year hold. The terms of the transaction were not disclosed.
In July WestView Capital invested in RuffaloCODY, a provider of strategic fundraising and enrollment management solutions and software for nonprofit organizations.