Sole Source Capital LLC, an industrial-focused private equity firm, today announced the final closing of its second fund, SSC Partners II, with aggregate total commitments of $555 million. Fund II was oversubscribed with an initial target of $400 million and reached its hard cap.
Thus far, fund II has completed 10 total transactions, including add-ons, across three portfolio companies: Dallas Plastics (acquired October 2020), a manufacturer of blown polyethylene film with printing, embossing and other value-add capabilities; Peak Technologies (acquired April 2021), a IT services and hardware provider of supply chain automation solutions; and I.D. Images (acquired August 2021), a manufacturer of secondary labels.
Investors in fund II include public and corporate pension funds, investment consultants, financial institutions, healthcare plans and hospitals, insurance companies, endowments and foundations, fund-of-funds, RIAs and family offices from North America, Europe and Asia.
“We are grateful to have garnered such strong support among our highly respected, global base of investors,” said Sumil Menon, head of investor relations for SSC.
David Fredston, founder and CEO added, “We believe Sole Source Capital’s investment process and commitment to human capital and data analytics can deliver great results, and we are humbled to have our limited partners investing alongside us.”
Gibson Dunn LLP served as legal counsel and Eaton Partners, a Stifel company, served as the exclusive placement agent.