IMB Partners Announces SBIC License Approval for IMB SBIC Fund I

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Oct 23, 2023, 06:30 ET

BETHESDA, Md., Oct. 23, 2023 /PRNewswire/ -- IMB Partners ("IMB") announces that it has received a license from the U.S. Small Business Administration ("SBA"), to operate IMB Partners SBIC Fund I, L.P. ("SBIC Fund") as a Small Business Investment Company ("SBIC").

"IMB is excited to partner with the SBA on our first dedicated SBIC Fund," says Tarrus Richardson, CEO of IMB Partners. "IMB will continue to operate its Holding Company which has completed eight platform investments, has over $1 billion of revenue, and provides a living for more than 700 employees and their families. Today, as we announce our first SBIC Fund, IMB adds another tool to its toolbelt. This will enable the IMB team to continue to make an impact on lower middle market small businesses that are looking to develop and grow, and that's what we're here to do."

The SBIC Fund will focus on buyouts in the government contracting and utilities & infrastructure sectors.

For more than 60 years, the mission of the SBIC program has been to stimulate and supplement the flow of private equity capital and long-term debt financing that American small businesses need to operate, expand, and modernize their businesses. IMB looks forward to supporting the SBA's vision as the firm continues to evolve and provide growth opportunities to small businesses that often lack access to essential capital.

About IMB Partners: Founded in 2010, IMB is a private equity sponsor focused on investing and partnering with management teams to grow lower middle market companies serving government agencies and electric and gas utilities. IMB believes that diversity is an asset and takes an entrepreneurial approach to building companies of scale. IMB seeks platform investment targets with $10-$250 million in revenue and $5-$25 million in EBITDA. Learn more at imbpartners.com or connect with us on LinkedIn.

SOURCE IMB Partners