Jan 4, 2007
Fitzsimmons, Connell and Goodrich announce formation of High Road Capital Partners
Smaller-middle-market buyout veterans Robert Fitzsimmons, William Connell and Jeffrey Goodrich have launched High Road Capital Partners, a New-York-based private equity firm focused on buying and building niche market leaders with revenues of $10 million to $100 million and EBITDA of $2 million to $10 million. Previously, the three worked closely together at The Riverside Company, a highly successful buyout firm focused on companies of the same general size. Collectively they have over 40 years of experience and have completed over $1.5 billion of smaller-middle-market LBO transactions.
“The smaller end of the middle market presents a tremendous amount of opportunity,” said Fitzsimmons, Managing Partner. “We think we can continue our track record of buying and building growing market leaders because of our expertise in this area and the large number of terrific companies in our target size range which seek strong equity partners.”
Fitzsimmons added, “The High Road philosophy is to buy good companies, and develop and implement strategies to take them to the next level in partnership with strong, existing management teams. As we grow our companies, it is important to do so in a manner that is professional and fair, and creates value for everyone.”
In spite of all the recent media focus on megafunds and megadeals, smaller-middle- market buyout funds historically have generated higher returns than larger buyout funds. According to Thomson Financial’s US Private Equity Performance Index, small buyout funds were the top performers for the 20 years through June 30, 2006, with an annual IRR of 25.9%. There are over 130,000 US companies with revenues between $10 million and $100 million, and an estimated 3,000 transactions a year are completed by companies in that size range.
For additional information about High Road, please contact Bob Fitzsimmons at (212) 786-7612 or firstname.lastname@example.org and visit www.highroadcap.com.
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