European private equity Triton has closed its second lower mid-cap fund at 815 million euros, beating its target of 600 million euros. The fund will make investments between 40 million euros and 100 million euros in lower mid-cap companies. In 2017, Triton closed its inaugural lower mid-cap fund at 448 million euros. Founded in 1997, Triton targets businesses in the industrial, business services, consumer and health sectors.
(Luxembourg), 16 March 2021 – Triton Smaller Mid-Cap Fund II (“TSM II”) has successfully closed at EUR815 million surpassing its target of EUR600 million due to strong investor demand. The fund is the second dedicated investment vehicle advised by Triton focused on investing in lower mid-cap companies. It follows on from Triton Smaller Mid-Cap I (“TSM I”), which closed on EUR448 million in 2017.
The entire fundraising was carried out virtually attracting commitments from a broad range of existing and new institutional investors from around the world.
Peder Prahl, Director of the General Partner for the Triton funds, said: “I would like to thank all of our returning and new investors for their support and trust. Through TSM II, we will continue to invest in smaller and mid-sized companies targeting the same sectors and geographies as the broader Triton platform to support companies to unlock their full potential, with the overall aim of building better businesses.”
TSM II will typically acquire a majority stake in companies that require an equity commitment between EUR40 million to EUR100 million. The fund will build on the investment strategy of TSM I, investing in businesses which are leaders in their niche market, but operating below their full potential. Triton will work alongside management to create value through further professionalisation, expansion and digitalisation of the businesses.
Andi Klein, Managing Partner and Head of TSM, added: “Triton has more than 20 years of experience in investing in smaller and mid-sized businesses. We support companies and their management teams to unlock their full potential by future-proofing the strategic, operational, or financial course of the business and by leveraging the wider Triton platform including access to an extensive network of industrial and operational experts. A key focus of TSM is accelerating growth and scaling companies via digitalisation, buy-and-build and internationalisation, where our know-how, sector expertise and international network can create significant value,”.
The TSM Team has 18 dedicated investment advisory professionals focused on sourcing, evaluating, and developing companies in the Triton Region, primarily in German speaking countries, the Nordic region, and the Benelux.
Since its establishment in 1997, Triton has sponsored ten funds, focusing on businesses in the industrial, business services, consumer and health sectors. The Triton funds invest in and support the positive development of medium-sized businesses with a strong European heritage. Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth.
The 47 companies currently in Triton’s portfolio have combined sales of around EUR18,4 billion and around 101,400 employees.
For further information: www.triton-partners.com