GenNx360 Capital Partners has picked up specialist equipment maker Schneider Packaging Equipment Company amid the firm continuing to raise capital for its third flagship fund.
Schneider designs, assembles and manufactures end-of-line packaging equipment, primarily automated case packing and palletising machinery, for the food, beverage, healthcare and consumer products markets.
GenNx360 managing partner Monty Yort said, “Schneider is an exciting company with a best-in-class reputation participating in a market that GenNx360 finds very attractive.
“The company’s reputation is centered around an impressive management team that has established a culture of exceptional customer service, innovation and industry-leading quality.”
AltAssets revealed in June that GenNx360 Capital Partners had raised at least $298m for its third flagship fund.
The New York-headquartered firm is looking to raise up to $800m for vehicle, the document shows, although it is unclear whether this amount represents a target or hard cap.
Just over $100m of the commitments registered in that filing were conditional on the basis of future potential closes, it added.
GenNx360 reportedly held a $535m final close for its second fund in 2014, falling short of its $600m target.
The firm, which was founded in 2006, focuses on mid-market business services and industrial companies.
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