Crossplane Capital Closes Fund II above Its $325 Million Target

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Jul 12, 2022, 07:45 ET

DALLAS, July 12, 2022 /PRNewswire/ -- Crossplane Capital ("Crossplane") is pleased to announce the first and final closing of its second private equity investment fund, Crossplane Capital Fund II, L.P. ("Fund II") above its $325 million target. With the closing of Fund II, Crossplane has raised over $730 million since its founding in 2018, including co-investment vehicles. Fund II will continue to target lower middle market industrial companies that are family and founder owned and seeking an operational and financial partner or are companies going through a complex situation such as a carve-out or a restructuring.

"We are grateful and humbled by the significant interest from existing and new investors in Crossplane, which allowed us to raise Fund II in three months," said Crossplane Managing Partner, Brian Hegi. "Given our focus on the lower middle market, we limited the size of Fund II, which is made up of our existing investors and a select number of new investors that have been close to our firm since our founding."

Since the first closing of Crossplane's inaugural fund in July 2019, Crossplane has closed six platform investments and 20 add-on acquisitions in its target sectors of industrial business services, value added distribution and niche manufacturing.

"Crossplane has built a brand for being a value-added financial and operational partner to families, founders and management teams that seek transformational growth," said Crossplane Managing Partner, Ben Eakes. "Through Fund II, we look forward to establishing new management partnerships where we can leverage our operational and strategic toolkits to create step function improvements in financial and operational performance."

Akin Gump Strauss Hauer & Feld acted as fund counsel for Crossplane.

About Crossplane Capital

Founded in 2018, Crossplane Capital is a Dallas-based private equity firm that makes control investments in niche manufacturing, value-added distribution and industrial business services companies. The firm seeks to partner with lower-middle market companies to enhance financial performance and generate strategic value creation. For more information, please visit www.crossplanecapital.com.

SOURCE Crossplane Capital