Industrial Opportunity Partners LLC, a private equity firm, has closed its fourth fund, Industrial Opportunity Partners IV, with $650 million of committed capital. The fund exceeded its original target of $600 million.
IOP focuses on acquiring and overseeing middle-market manufacturing and distribution businesses with revenues between $50 million and $500 million. The firm looks to invest in North American businesses with strong product, customer and market positions. To date, the fund has invested in NB Handy Company, a building products distributor, and Viaflex, a provider of polymer films and sheeting.
“We appreciate the continued support and partnership of our investors and, as always, we will strive to be good stewards of their capital,” comments Kenneth Tallering, senior managing director of IOP. “We are confident that the coming years will bring significant opportunity for the IOP team to build value in our companies.”
PJT Partners LP and Sidley Austin LLP served as placement agent and legal counsel, respectively, to the fund.