Aug. 23, 2022: Palm Beach Capital Backs Environmental Engineering
Plus, RiverGlade and Ampersand each close their latest funds
Read the top headlines from Tuesday, August 23, 2022 below:
Palm Beach Capital Invests in Environmental Engineering Business
Palm Beach Capital, a middle-market private equity firm based in Florida, announced its investment in environmental engineering and consulting business Earth Systems. A press release noted the firm’s Palm Beach Capital fund V backed the business via one of its investment entities, with the private equity firm pointing to intensifying regulatory and compliance requirements that have heightened demand for Earth Systems’ services, including spill response and risk management.
In a statement, Earth Systems co-president and co-founder Risk Ofsanko said the firm “will provide Earth Systems the capital and access to the strategic resources the company needs to execute on our long-term growth plans, which include organic growth through new locations as well as strategic acquisitions that will allow us to expand into new geographies, services and clients.”
RiverGlade Closes Second Fund at $453 Million
Private equity firm RiverGlade Capital, which specializes in the healthcare industry, announced via press release the close of its second fund. RiverGlade Capital Fund II closed with $453 million in capital commitments. The fund, which surpassed its initial target, will funnel its investments into lower-middle market businesses in the healthcare space. Fund II secured backing from existing institutional investors as well as new investors, and follows RiverGlade’s first fund, which closed in 2019 with $325 million in capital commitments.
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Ampersand Raises $1.2 Billion for Latest Fund
Ampersand Capital Partners, a middle-market private equity firm based in Boston and Amsterdam, said it has closed its latest fund, Ampersand 2022 Limited Partnership. Investors committed $1.2 billion to the fund, the firm’s eleventh primary fund, it said. Institutional investors including endowments, foundations, pension plans, insurance companies, funds of funds and family offices all participated in the fundraise, which Ampersand said will be used to invest in industrial healthcare and life sciences.