S consumer-focused private equity firm LNK Partners has closed its LNK Partners II fund on its $400m hard cap.
The firm focuses on investments in mid-market consumer and retail businesses, and received commitments from institutions and university endowments, as well as industry executives.
Investments from LNK’s first fund, which was raised in 2006, included the recapitalisation of equestrian footwear and apparel business Ariat International, the recapitalisation of restaurant chain Au Bon Pain, acquisition financing to support the purchase of apparel company Tommy Hilfiger by PVH, and the recapitalisation of Natural Food Holdings, which markets pork, beef and lamb producer Niman Ranch.
The LNK has experience investing in, operating, or serving on the boards of businesses such as Staples, PVH, Quaker Oats, Pepsi, Panera Bread, and Life Time Fitness. More than 100 industry executives have personally invested a total of more than $45m in LNK’s funds.
David Landau, a partner of LNK, said, “With our new fund, we will continue to back great management teams who are building outstanding consumer and retail businesses. I think the very strong support from existing investors and the high level of interest from new investors reflects LNK’s unique position among private equity firms based on our partners’ exceptional investing and operating track records, the firm’s unparalleled network of industry relationships, and our highly flexible approach to investing.”
Henry Nasella, a partner of LNK, added, “Few, if any, investment firms can support management teams with the broad capabilities that we have developed. As many of our partners are former CEOs who have successfully run great, growth-oriented companies, we are able to bring a unique perspective to the management teams that we back.”
LNK recently exited its investment in Ariat, selling the company to minority investor Fisher family, a long-standing minority investor in the business.
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