Firms & Funds

Peak Rock Capital inks third exit from debut fund

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Peak Rock Capital, private equity, mergers, M&A
The moon and stars light up Mount Everest, also known as Qomolangma, as seen from near Everest Base Camp in the Tibet Autonomous Region April 29, 2008. Photo courtesy Reuters/David Gray (CHINA) - RTR2003J
  • $700 mln debut fund was raised in 2013
  • Firm has invested in 12 companies
  • Peak Rock mum on any Fund II plans

 

Peak Rock Capital recently sold Koroseal Interior Products to a unit of Sangetsu as the third exit out of 12 platform investments from its 2013 debut fund.

The middle-market debt and equity investor was founded by executives from H.I.G. Capital and Aurora Resurgence, the debt investment fund of Aurora Capital. A spokesman for Peak Rock declined comment on any plans to launch Fund II.

Besides exiting Koroseal, Peak Rock in April sold Highline Produce Holdings to an affiliate of Fyffes. And late last year, the firm sold Atlas Paper Holdings to a unit of Resolute Forest Products. Terms of the three sales weren’t disclosed.

The firm declined comment on investment multiples for its exits.

With typical equity checks of $20 million to $150 million, Peak Rock has made at least eight platform investments from its first fund. That fund took in $700 million, ahead of its $400 million target, and wrapped up in 2013.

In addition to the three portfolio companies it’s already sold, Peak Rock lists nine others on its website: Berner Food & Beverage, Diamond Crystal Brands, Hunters Specialties, Lew’s Fishing, Main Steel, Natural American Foods, Precision Global, ProFusion Industries, and RCR International.

Among hires by the firm in 2016, it added Carsten Beck as a principal in its Brussels office, and William Kuntz as a principal, focused on technology.

Among Peak Rock’s leading executives, CEO Anthony DiSimone previously was CEO at Aurora Resurgence and a managing director at H.I.G. Capital’s Bayside credit arm.

Steve Martinez, president and managing director at Peak Rock, previously was managing director at Aurora Resurgence as well as Goldman Sachs. Thibaud Caulier, managing director, was a managing partner at Ponsardin as well as H.I.G. Capital Europe.

Action Item: Contact Peak Rock: http://peakrockcapital.com/contact/

The moon and stars light up Mount Everest, also known as Qomolangma, as seen from near Everest Base Camp in the Tibet Autonomous Region on April 29, 2008. Photo courtesy Reuters/David Gray   

Correction: This story has been updated to correct the spelling of Koroseal.