Firm: FdG Associates
Fund: FdG Capital Partners III LP
Target: $450 million
Credit Suisse helped FdG raise its previous fund, the $310.5 million
With eight realizations, the funds have returned 4x invested capital and achieved a gross internal rate of return of about 42 percent, our source said.
Previous investors in FdG funds include
Executives at the firm declined to comment.
FdG targets mid-market companies in business and consumer services, distribution, light manufacturing, and retail and consumer products. It typically commits $15 million to $50 million of equity in buyouts, recapitalizations and growth-oriented investments. Its portfolio includes A&R Logistics, a Joliet, Ill.-based company that provides bulk transportation services to companies in the plastic resin industry; USA Bouquet, a Miami-based marketer, importer and distributor of floral products; and Hercules Tire, a Findlay, Ohio-based distributor of truck tires.
Most recently, FdG hauled in a healthy 5x return on its sale of Implus Footcare, a Morrisville, N.C.-based footwear accessories designer and distributor, to
David Gellman, managing director, founded the firm in 1995. Other senior executives include Doug Dossey, a managing director who joined the firm in 1998, and Howard Romanow, a managing director who joined the firm in 1998. The firm got its start as an investment office for two wealthy New York families before it began seeking outside backers.—B.V.