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Sole Source Capital more than doubles AUM to $1bn with Fund II close

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Industrial-focused private equity house Sole Source Capital has boosted its assets under management to over $1bn thanks to a $555m hard cap close for SSC Partners II.

The firm beat its initial Fund II target of $400m by 40%, and has already completed 10 transactions with the vehicle, including add-ons across three portfolio companies. It has bought into blown polyethylene film manufacturer Dallas Plastics, IT services and hardware provider Peak Technologies and secondary labels maker I.D Images.

David Fredston, firm founder and CEO said, “We believe Sole Source Capital’s investment process and commitment to human capital and data analytics can deliver great results, and we are humbled to have our limited partners investing alongside us.”

Sole Source Capital has completed 24 transactions since 2016, focusing on driving rapid value creation in lower mid-market companies.

The firm hired former Crescent Capital senior exec Sumil Menon as its new head of investor relations last year.

It closed its debut private equity fund on its $160m hard cap in December 2018.

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