Evanston, Ill., September 27, 2022 – Operations-focused private equity firm Industrial Opportunity Partners, LLC (“IOP”), announced the closing of its fourth fund, Industrial Opportunity Partners IV, L.P. (“Fund IV”), with $650 million of committed capital. IOP achieved its hard cap for Fund IV, exceeding Fund IV’s original target of $600 million. Investors include university endowments, insurance companies, pension plans, and funds-of-funds.
Founded in 2005 and based in Evanston, Ill., IOP focuses on acquiring and overseeing middle-market manufacturing and value-added distribution businesses with revenues typically between $50 million and $500 million. IOP primarily targets North American businesses with strong product, customer, and market positions that can benefit from the operating capabilities provided by IOP.
IOP is differentiated by its operating resources led by its dedicated, full-time Board of Operating Principals – a group of executives, each with over 25 years of experience, who guide and assist management teams in stabilizing, enhancing, and growing the value of their businesses.
“We appreciate the continued support and partnership of our investors and, as always, we will strive to be good stewards of their capital,” said Kenneth Tallering, Senior Managing Director of IOP. “We are confident that the coming years will bring significant opportunity for the IOP team to build value in our companies.”
“As we embark on our fourth fund, we believe IOP’s consistent, operations-focused approach to investing and the firm’s ability to provide significant resources to our companies continues to resonate with investors,” said IOP Senior Managing Director Robert Vedra. “Our disciplined, focused investing style allows us to identify attractive opportunities in a variety of situations and market conditions.”
IOP’s inaugural fund closed in 2007. Since that time, across four funds, IOP has completed 33 platform investments and more than 25 add-on investments. The fund investments include companies serving a variety of end markets, including transportation, construction, agriculture, building products, packaging, and other industrial sectors.
Fund IV has completed two platform investments to date: N.B. Handy Company, a building products distributor specializing in HVAC products, architectural metal roofing and machinery, with vertically integrated fabrication operations for select products; and Viaflex (formerly Raven Engineered Films), a provider of highly engineered polymer films and sheeting for agriculture, construction, geomembrane, and industrial applications.
PJT Partners LP and Sidley Austin LLP served as placement agent and legal counsel, respectively, to Fund IV.
About Industrial Opportunity Partners
IOP, an Evanston, Ill.-based private equity firm with approximately $1.5 billion of committed capital since inception, is dedicated to creating value through investing in manufacturing and value-added distribution businesses with sales between $50 million and $500 million. IOP focuses on businesses with strong product, customer, and market positions, and provides management and operational resources to support sales and earnings growth at its businesses. For more information, visit IOP’s website at www.iopfund.com.