Align Capital Partners Closes Oversubscribed Fund III at $620 Million

Founder-Friendly Growth Investor Stays True to Lower-Middle Market Strategy

CLEVELAND and DALLAS, November 1, 2022 | Align Capital Partners (“ACP” or the “Firm”) is pleased to announce the closing of its third private equity investment fund, Align Capital Partners Fund III, LP (“ACP III”). ACP began fundraising in September 2022 with an initial target of $550 million of limited partner commitments. With the support of existing investors and a substantial personal commitment from the Firm’s team, ACP III had its first and final close on October 28th at $620 million.

With the closing of ACP III, Align Capital Partners has raised approximately $1.4 billion since the Firm’s founding in 2016. Over the past six years, ACP has invested in 18 platform companies, completed over 60 add-on acquisitions and exited six investments. ACP has helped increase its portfolio companies’ revenue through organic growth initiatives and by closing an average of over three add-ons per platform.

“We are very grateful for the continued support from our investors and the hard work of our growing team at ACP,” said Co-Founder and Managing Partner Rob Langley. “On the heels of our successful exits over the past 18 months, we remain energized by the partnership opportunities and growth potential that exists in the lower-middle market. We have managed our fund size growth to remain fully committed to that segment of the private equity market.”

ACP takes a disciplined, growth-focused approach toward investing in lower-middle market companies with up to $15 million of EBITDA. The Firm has added 11 people to the team since ACP Fund II closed, allowing ACP to effectively partner with even more portfolio companies in the future and help those businesses scale through accelerated investments in people, processes and technology.

“The Firm’s growth and success to date is attributed to the partnerships formed between our portfolio companies and our dedicated team of professionals,” said Co-Founder and Managing Partner Steve Dyke. “We’re excited to leverage these collective experiences to help grow the next wave of ACP platform companies.”

“As we wade through this period of economic uncertainty, we’re fortunate to have the committed capital to continue our disciplined approach to helping companies grow,” said Co-Founder and Managing Partner Chris Jones. “The ACP team is collectively one of the largest investors in ACP III, creating significant economic and strategic alignment between our team, our investors and our management partners. We look forward to strategically deploying this capital with the goal of delivering results for the aligned benefit of all our stakeholders.”

Align Capital Partners’ inaugural $325 million fund closed in September 2016 and was followed by a $450 million Fund II in February 2020. Capstone Partners served as the exclusive placement agency for ACP III, and Kirkland & Ellis LLP provided legal counsel.