Toronto-based Birch Hill Equity Partners has promoted former principals Matt Kunica and Thecla Sweeney to the role of partner.
Kunica has worked for the firm since 2003, prior to which he was an associate in the investment banking group at Credit Suisse First Boston and an analyst in the investment banking group of BMO Nesbit Burns.
Sweeney joined Birch Hill’s predecessor company TD Capital in 2004, prior to which she worked in business development at Toronto-based Deluce Capital and as a consultant at Bain & Company.
The promotions bring the total number of partners at Birch Hill to 10. The mid-market firm is currently investing its fourth fund, which closed on C$1 billion (€775 million; $1.05 billion) target in February 2011.
Birch Hill has made four announced investments from the fund this year, backing industrial facility services company Distinction Group, oil and gas services provider Secunda Canada, cattle feed and nutritional advisory business Hi-Pro Feeds and reverse mortgage company HomeQ. The firm’s most recent exit came in October when it sold food ingredient distributor and producer Nealanders International for an undisclosed sum.
Following completion of the five deals, Fund IV will be roughly 33 percent invested, according to Birch Hill chief operating officer Pierre Schuurmans.
The firm has C$2 billion in capital under management and portfolio companies representing more than $4.7 billion in total revenue.