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Solis seals 3.4x return overall from debut fund following Tigers exit

24 Jul 2013

news_exit_sign_lrgLower mid-market private equity firm Solis Capital Partners has made a 3.4 times return from its debut vehicle by exiting its last major investment from the fund.

The firm has sold its majority interest in global transportation and logistics provider Tigers to European express parcel carrier GeoPost.

Solis said that barring a few “small trailing interests” Solis I was now fully exited, and had made a realised IRR in excess of 25 per cent since it was launched a decade ago.

Founder and managing director Daniel Lubeck said, “We are pleased with the sale of Tigers and the performance of Solis I.

“Our results in Solis I, generated through the recent economic downturn, once again demonstrate that our lower-middle market strategy of creating returns through business growth and enhancement, not extraction, can be successful independent of business and economic cycles.”

Solis closed its most recent fund on $61m in May after sticking to its decision to “draw a line in the sand” for the fundraise.

Managing director Dan Lubeck revealed to AltAssets in February that the firm was aiming to close Solis Capital Partners II towards the end of the first quarter whether it had hit its $100m target or not.

The firm targets companies in industries including services, niche manufacturing and software, typically headquartered in the western US.

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