Firm: Frontenac Co.
Fund: Frontenac IX Private Capital LP
Amount Raised: $315 million
Original Target: $450 million
As first reported in peHUB, the sister Web site of Buyouts, the Chicago-based lower middle market firm secured $315 million in pledges for
The shop, whose investment approach places a heavy emphasis on partnering with the executives of its targets, raised $560 million for
The most recent transaction for Frontenac is the acquisition of CrochetMe.com, a Web site for crochet enthusiasts, from Kim Werker, its developer. That deal was completed on Dec. 2 by Interweave, a unit of Aspire Media, a publishing platform backed by Frontenac and
Frontenac was founded in 1971 with the backing of the Laird Norton Company, a family office with its origins in the lumber business. The firm’s targets are typically owner-operators. Sectors of interest include financial services, health care, human resources and education, manufacturing, marketing services, technology services and publishing and media.
Portfolio companies include 3E Co., a Carlsbad, Calif., provider of information and compliance services related to environmental health and safety standards; Anaheim, Calif.-based Crescent Healthcare, which offers specialty infusion and pharmacy services; Encore Discovery Solutions, a Phoenix-based provider of legal information management services; H-E Parts, an Atlanta-based distributor of mining and construction parts and equipment; and Systems Maintenance Services Inc., a Hudson, Mass., provider of information technology systems and support services.