Dallas-based mid-market firm Brazos Private Equity Partners is nearing the end of its $715 million Fund III.
The firm recently completed its eighth and ninth investments from the fund, acquiring electronic traffic control products company Eberle on Tuesday and lifestyle apparel brand Southern Tide on 5 August. Arizona-headquartered Eberle designs and manufactures specialty components for the traffic, access and rail industries and can be found in “most of the signalized intersections throughout North America”, according to a statement. South Carolina-based Southern Tide was founded in 2005 and makes apparel, swimwear, footwear and accessories for men and women.
Brazos declined to comment on the size of the deals or the total amount of capital it has invested from its Fund III, though as of April the firm had invested nearly 70 percent of the fund. Fund III closed above its $600 million target in 2008.
“We usually have between nine and 12 platform investments per fund,” Brazos co-founding partner and co-chief executive officer Randall Fojtasek told Private Equity International, adding that the firm still has enough capital for additional platform investments. Brazos’ $400 million Fund II completed eight acquisitions.
Brazos focuses on four sectors within the North American mid-market: commercial and industrial, consumer, healthcare and business services.
Brazos specialises in making control investments in businesses headquartered in North America but many of the firm’s portfolio companies have operations abroad, in countries such as Australia, Canada, France and Mexico.
Brazos has not determined when it will come to market with its Fund IV, and Fojtasek declined to comment on whether the firm might launch a fundraising process for the vehicle in 2014.
Brazos has $1.4 billion of capital under management and has completed more than 80 transactions worth a combined $9 billion since its founding in 1999.