By Lynda Kiernan

 

Chicago-based Granite Creek Capital Partners has closed its second fund, the Granite Creek FlexCap II Fund, (FlexCap II) oversubscribed at $200 million, and exceeding its initial funding target of $150 million.

The firm’s first fund, FlexCap I, closed at $85 million of assets under management with a portfolio of 19 companies, and performance that makes it a top decile performing fund.

Founded in 2005, Granite Creek is a private investment firm providing capital and resources to lower middle market companies engaged in manufacturing, agribusiness, healthcare, and business services.

Through FlexCap II the firm plans to make 15-20 investments of between $10 and $20 million for both controlling and minority stakes, or mezzanine debt deals in companies posting earnings before interest, tax, depreciation, and amortization of between $3 and $15 million.

“The closing of FlexCap II is another milestone in Granite Creek’s 14-year history, demonstrating continued confidence by our investors in our ability to invest in companies with compelling, risk-adjusted returns,” said Mark Radzik, co-founder and managing partner, Granite Creek.

With a team of professionals that carry deep experience in banking, private equity, operations, and business development, Granite Creek brings more than capital to the table, offering its portfolio companies support that helps drive growth.

“In addition to our capital and financial oversight, we bring strategic, operational and business development resources to our portfolio companies that are often inaccessible to the typical smaller business, helping them scale in multiple ways,” said Radzic.

-Lynda Kiernan