High Road Capital Partners has approached the final closing of its second fund, raising $320 million in total commitments.
The New York-based private equity firm initially set a $200 million target and took less than 12 months to raise the total amount.
It first exceeded that amount in August when it raised $285.5 million, according to a filing with the U.S. Securities and Exchange Commission.
The final close is more than double what High Road raised for its entrant fund in 2008 when the firm pooled $150 million and acquired Milwaukee Gear Co. in its first deal. It later sold Milwaukee Gear to Regal Beloit Corp. for $80 million in February 2012
High Road’s capital consists of more than 25 institutional investors, including family offices and high-net-worth individuals.
The firm has been acquisitive throughout 2013. In November, it purchased Electra-Finish Inc., an Asheboro, N.C.-based provider of plastic coatings and services, and in October it picked up SMB Machinery Systems., a Ball Ground, Ga.-based packaging company.
In May, it teamed with Charter Oak Equity to buy coating solutions provider Crown Group Inc. for an undisclosed price.
High Road was founded in 2007 by former executives of the Riverside Co.: managing partner Robert Fitzsimmons (pictured) and partners William Connell and Jeffrey Goodrich.