Peterson Partners Announces Closing of $120 Million Fund
With Solid Backing from Prominent Investors, Peterson Partners to Utilize Company's Fifth Fund for Investing in Small-to-Medium Sized Businesses
May 6, 2008 - Peterson Partners, a leading Intermountain West investment firm, has announced the closing of Peterson Partners V, an investment fund totaling $120 million in capital commitments.
The fund's capital commitments include investments from several prominent investors including David Neeleman, founder of JetBlue Airways, Dave Checketts, owner of the Real Salt Lake Major League Soccer team, the Romney Family Investment Fund, and the principals of the General Partner.
The $120 million raised for Peterson Partners V is expected to be utilized during the next three to four years and will be used primarily to invest in small-to-medium sized, high growth businesses across a variety of industries.
Since it was founded, Peterson Partners' strategy has remained the same -- be a reliable partner to entrepreneurs and founders of businesses. This approach has allowed Peterson Partners to effectively support a company's growth by providing capital, developing new business strategies, supplementing the management team, and eliminating personal guarantees. "Peterson Partners has an extensive history of partnering with entrepreneurs and founders of companies to support rapid growth of their businesses," says Jordan Clements, managing partner of Peterson Partners. "Being a reliable partner has been our focus over the life of four previous funds since the founding of our firm in 1995. This fifth fund will approach our investments with the same philosophy."
Generally, the companies that Peterson Partners will invest in have more than $10 million in revenues, are profitable and are at an inflection point in their development.
Companies that have benefited from Peterson Partners' partnership approach include JetBlue (discount airline), Energy Solutions (nuclear services), Asurion (hand-set insurance), Instashred (document shredding services), Making Memories (scrap-book supplies company), Cranium (game and toy-maker), Diamond Rental (party/event and small equipment rental), 3form (manufacturer of architectural design panels), and Southern California Risk Management Associates (third party administrator of workers compensation claims) among many investments.
About Peterson Partners Peterson Partners, based in Salt Lake City, Utah is one of the Intermountain West's most successful private equity firms. Specializing in small to mid-sized companies, Peterson Partners has a track record of successful investments including JetBlue, Making Memories, EnergySolutions, 3form, Cranium, Asurion, Instashred, Winder Farms and Diamond Rental. Founded in 1995, Peterson Partners has managed over $400 million in committed capital through five funds. For more information, visit www.petersonpartnerslp.com.