Brighton Partners, an Atlanta-based private equity firm, announces the closing of its first dedicated investment fund. Brighton Micro-Cap Fund, L.P. is a $25 million fund formed to make control equity investments in companies with $10 to $50 million of revenue and less than $5 million of EBITDA. The marketing process for this first fund took approximately two months, from start to finish, with the initial closing taking place on May 8, 2017. In addition to the principals of Brighton Partners, investors in the fund include individuals with private equity experience and founders of Brighton portfolio companies. There are no institutional limited partners in the fund.
Century Resources acquired The Funding Tree, a Dallas-based distributor of fundraising programs to music, cheer and other student groups in the secondary school market.
Brighton completed a platform investment in PSA Worldwide, a leading distributor of health and wellness educational and promotional products.
Brighton completed a platform investment in Century Resources, a leading provider of catalog-based school fundraising programs.
Brighton provided equity in support of Premier Performance’s acquisition of Rally Sport Direct, an on-line retailer and wholesale distributor of aftermarket performance parts for Subaru and other sport compact vehicles.
Brighton sold control of Premier Performance in a recapitalization transaction led by Capital Partners. Brighton continues to own a significant minority equity position in the business.
Working closely with management, Brighton recruited Matt Jordan to become the new CEO of Premier Performance. Rus Michaelson, Premier’s founder, will continue as Chairman. Matt came to Premier from Eckler’s Automotive, a leading retailer and wholesaler of automotive aftermarket restoration parts.
Along with management, Brighton purchased an outstanding warrant position in Lawn Dawg from Tenth Street Capital.
Brighton arranged a new senior credit facility with Fifth Third Bank for Lawn Dawg and repaid in full a mezzanine note due to Tenth Street Capital.
Premier Performance acquired Northridge 4×4, a leading distributor of aftermarket performance parts and accessories for Jeeps and off-road vehicles.