Seacoast Capital Managers Closes Third Mezzanine Fund at over $150M
Summary
Boston, MA and San Francisco, CA-based Seacoast Capital Managers, LLC held the final close on its third mezzanine fund, at over $150m.Seacoast Capital Partners III, L.P. is a registered Small Business Investment Company (SBIC), and will have access to over $100m in debenture funding from the United States Small Business Administration.Founded in 1994 and led by partners Tom Gorman and Jeff Holland, Seacoast typically provides between $3m and $12m of debt and equity capital for acquisitions, growth, shareholder buyouts, management buyouts, and leveraged recapitalizations to provide shareholder liquidity.the firm broadly invests in the specialty manufacturing, value-added distribution, and business services sectors.In addition to the close of the fund, Seacoast added Patrick Gengoux as an Associate in its San Francisco office.