Thompson Street closes second fund at $300m(2)

The Missouri-based private equity firm simultaneously has announced the fund’s first acquisition of three companies.

Small mid-cap US private equity player Thompson Street Capital Partners has announced the closing of its second fund.

At $300 million, Thompson Street Capital Partners II is twice the size of the firm’s first fund, which closed in 2002 at $145 million.

“Our selection criteria will remain largely the same with Fund II, yet we will have the ability to invest in larger deals, potentially up to $200 million in enterprise value,” TSCP co-founder James Cooper said in a statement.

TSCP invests in manufacturing, distribution and service companies with a minimum EBITDA of $5 million.

Already, the TSCP II has made its first investment, forming CESM Holdings LLC to invest in three electrical component manufacturing and distribution companies, Tacoma Electric Supply, Connecticut Electric Switch Manufacturing and Parallax Power Supply. Terms were not disclosed.

Monument Group served as the placement agent for the second fund, which was said to be $50 million oversubscribed.

TSCP, which was formed in 2001 by Cooper and Peter Finley, added two new employees in 2006. It now has a team of 12.