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Atlantic Street, Backer of Family-Owned Businesses, Raises Lower Mid-Market Fund

Alex Apparel ranks among Atlantic Street’s portfolio companies; MTS Health, NXT Capital and the Riverside Co. have raised recent funds

Atlantic Street Capital has raised its third fund, Atlantic Street Capital III LP. Fund III is valued at $210 million and will target mostly family-owned businesses in the lower middle market.

“We remain enthusiastic about the rich pipeline of prospective investments we have identified for Fund III,” says Atlantic Street managing partner Andy Wilkins. Fund III has received commitments from both existing and new investors.

Stamford, Connecticut Atlantic Street invests between $10 million and $30 million in equity in businesses that have up to $12 million in Ebitda. The private equity firm focuses on the consumer, transportation and logistics, business services, healthcare and manufacturing sectors. Some of Atlantic Street’s current investments include: women’s clothing company Alex Apparel Group; frozen spinach dip producer Double D Foods; and Fast Sandwich LLC, an operator of Jimmy John’s franchises.

PE firms have been actively raising funds recently. MTS Health Investors LLC has closed its fourth fund at $365 million; NXT Capital LLC closed a $900 million debt fund; Gridiron Capital raised its third fund; and the Riverside Co. completed a $50 million growth fund.

Morrison Cohen represented Atlantic Street. 

 

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