Mid-market private equity firm Union Capital Associates has closed an oversubscribed fund on its hard cap of $200m.
The firm said Union Capital Equity Partners II Fund will invest in smaller US founder-owner businesses in which Union Capital is typically the first institutional investor.
Union Capital said that it focuses on companies in the manufacturing, outsourcing, food and marketing sectors. These companies turnover between $20m and $200m and would invest $10m and $40m per company.
The firm currently has seven companies in its portfolio, including tortilla manufacturers Rudy’s, data and publishing business Black Dot Group and key storage systems company KEYper Systems.
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