May River Closes Third Fund at $500M to Invest in Industrial Businesses
May River Capital, a Chicago-based private equity investment firm, has closed its third fund, May River Capital Fund III, at its hard cap of $500 million in limited partner commitments, exceeding the fund’s original target size.
The new vehicle marks a big jump from the $300 million Fund II May River raised at the end of 2019.
The fund will continue May River Capital’s focus on investing in lower-middle market industrial businesses. Since its founding in 2012, the firm has raised more than $1.2 billion and invested in 11 platform companies, as well as completed 17 add-on acquisitions.
Recent deals from the firm include creating material handling equipment specialist Automated Handling Solutions through a merger of two other businesses.
The firm used M2O Private Fund Advisors as a placement agent for the raise.