NEW YORK--(BUSINESS WIRE)--CCMP Growth Advisors, LP (“CCMP Growth”), a growth-oriented middle-market private equity firm, today announced the successful final close of CCMP Capital Investors IV, LP, together with its parallel fund vehicles (“CCMP IV”), in excess of its fundraising target of $500 million in aggregate capital commitments. CCMP IV is solely focused on investing in high-growth, middle-market companies in the North American Consumer and Industrial sectors, often in partnership with family owners and entrepreneurs.
CCMP Growth was formed in 2022 as the successor to CCMP Capital Advisors, LP (“CCMP Capital”), as part of a long-planned transition to the next generation of leadership to manage new capital deployment. CCMP Growth is led by Co-Managing Partners Joe Scharfenberger and Mark McFadden, alongside an experienced and committed team of investment professionals.
CCMP IV secured commitments from a diverse investor base, including domestic and foreign public and corporate pension funds, insurance companies, financial institutions, family offices and high net worth individuals. The investor base includes more than 25 C-suite executives or board members from CCMP Capital’s legacy portfolio companies, several of whom are playing an active role as board members of current CCMP Growth portfolio companies.
“We are thrilled to have achieved our fundraising goals for CCMP Growth through the support of many longtime CCMP Capital limited partners and a number of new investors,” said Mark McFadden, Co-Managing Partner. “This is an important milestone for the firm, particularly given the ongoing challenges of the fundraising environment. The success of this fundraise is a credit to the work our team has done to define and execute on our strategy by building an outstanding portfolio, and serves as a testament to the confidence and trust of our limited partners. We look forward to delivering outstanding returns for our investors.”
Joe Scharfenberger, Co-Managing Partner, added, “We are proud to have partnered with four dynamic growth companies thus far in the CCMP IV portfolio, supporting their continued expansion through the completion of 11 add-on acquisitions over the last 12 months. We also want to thank our retired partners, many of whom are investing in the fund alongside us, and who have provided great counsel and support as we completed this first fundraise for CCMP Growth.”
CCMP Growth pursues market-leading companies growing over 10% annually in high-growth subsectors of the Consumer and Industrial economies, with company EBITDA typically in the $15 million to $75 million range. The firm has defined four core values: Growth, Focus, Commitment, and Partnership. By living these values, CCMP Growth helps talented company founders and business leaders scale their companies and create life-changing professional and wealth-creation opportunities for their employees, while positioning their businesses for sustainable, long-term success and generating attractive returns for investors.
CCMP Growth is well-aligned with its investors, with over 10% of CCMP IV commitments coming from CCMP Growth’s employees, executive advisors, and former partners.
CCMP IV has already invested in four companies:
- Mammoth Holdings, a high-growth operator of 140 express car wash locations across the Southeast and Midwest U.S.;
- Omnia Exterior Solutions, a partnership platform for entrepreneur-owned roofing and exterior remodeling companies across the U.S.;
- Decks and Docks, the largest value-added specialty distributor of marine contractor and outdoor living building products to specialty contractors in the U.S.; and
- Innovative Refrigeration, the leading design-build engineering and aftermarket services provider for the industrial refrigeration market.
Aligned with CCMP Growth’s focus on double-digit growth companies, these four platforms achieved, on average, 16% revenue growth and 21% EBITDA growth in 2023. All four investments featured strong reinvestment from existing executives and founders, and in each case CCMP Growth’s limited partners have provided equity co-investment alongside CCMP IV.
Ropes & Gray served as legal advisor, CrossBay Capital Partners acted as North American placement agent, and Spartan Advisors acted as European placement agent for CCMP IV.
About CCMP Growth
CCMP Growth is a New York based growth-oriented private equity firm focused on making lead buyout and growth equity investments in middle-market companies in the Consumer and Industrial sectors, primarily in North America. CCMP Growth leverages the deep investment experience of its team to identify high-growth companies in transition, and partners with management to help each platform scale through strategic and operational support. Visit www.ccmpgrowth.com.
