New York private equity firm Harvest Partners LP has formed an investment firm that will advise business owners on structured equity and junior debt options.
The adviser, Harvest Partners SCF LP will also invest in companies in addition to structuring investments. Investments from the firm would allow entrepreneurs to remain in control of their businesses, according to Harvest.
Jay Hegenbart, formerly a managing director at Harvest, was named a senior managing director and portfolio manager at the new firm. Harvest Partners SCF has also hired Steve Duke, who was previously a principal at CCMP Capital, as a principal.
The firm will target middle market companies with between $100 million and $750 million in revenue and enterprise value. Harvest Partners SCF is looking to make investments between $20 million and $75 million in companies in the industrial, energy, manufacturing, distribution, business services, consumer and health care services sectors.
To date, the firm has three investments totaling $60 million Packers Holdings, Athletico Physical Therapy and AxelaCare Holdings. AxelaCare, earlier in January, acquired Ambient Healthcare in order to expand home intravenous therapy offerings.