CPE News (12.19.2022) – SeaFort Capital Inc. has held additional close for SeaFort Capital Fund II, with total commitment near $160 million target.
SeaFort Capital Fund II held initial close in October 2021 with $110 million in committed capital with a $40 million lead commitment from SeaFort’s founding investors which include members of the Sobey and McCain families. Additional $70 million commitments came from Export Development Canada (EDC), the Canadian Imperial Bank of Commerce (CIBC), BMO Capital Partners, Jessiman Family Investments Inc. (JFI), and other investors.
SeaFort Capital Fund II is a growth-focused buyout fund that intends to make majority investments in Canadian lower-mid-market businesses operating in core industrial and business services sectors. The new fund is designed to allow SeaFort to hold investments for a longer period than most established private equity firms, which means that SeaFort can maintain its established patient approach.
Fund II will maintain SeaFort’s established strategy with a focus on businesses with EBITDA between $2 million and $15 million that operate in industrial or business services sectors, including equipment service, niche manufacturing and value-added distribution.
SeaFort Capital was founded in 2012 by the Sobey and McCain families and a small group of private investors.
photo credit: SeaFort Capital