Tecum Capital, Family Office to launch new equity control fund.
BANKING AND CREDIT NEWS-May 15, 2017-Tecum Capital, Family Office to launch new equity control fund
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Tecum Capital, the USD 450m investment firm based in Pittsburgh, Pa., has launched its new control equity buyout platform, Tecum Equity Partners, III, the company said.
The entity is a committed pool of capital backed by Western Allegheny Capital, a family office focused on control equity acquisitions. The nature of the platform allows for a longer term time horizon and a business friendly approach to ownership transitions and successions.
The target size investment for Tecum Equity Partners, III is lower and middle-market companies with an annual cashflow of USD 2m to USD 7m, with flexibility to consider other opportunities.
Tecum Equity Partners, III will generally invest USD 5m to USD 20m per investment with the ability to take larger amounts as necessary. This entity will work separately from Tecum Capital Partners, II, the newly launched USD 225m SBIC fund, which provides mezzanine debt financings and minority equity capital.
Tecum Capital is a multi-strategy investment group, focused on investments in the Midwest, Southeast and Mid-Atlantic regions; and supports independent sponsors, family offices, private equity funds, and management teams to facilitate recapitalizations, buyouts, generational transitions, acquisitions, and other growth capital needs.
Launched as a wholly owned subsidiary of F.N.B. Corporation in 2005, Tecum Capital spun out and formed its first SBIC fund in 2013 followed by a second SBIC fund in early 2017. Tecum Equity Partners, III is the third pool of dedicated capital with the firm now overseeing over USD 450m of assets under management.
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