July 14, 2022: Pamlico Backs Procurement Spend Analytics Partnership

Read the top headlines from Thursday, July 14, 2022 below:

Resolute Capital Raises $405M for Fifth Fund

Lower-middle market private investment firm Resolute Capital has closed its fifth fund at $405 million in capital commitments, according to a press release. RCP V, as the fund is called, will operate as an extension of Resolute Capital’s existing investment strategy, focusing on capital commitments of between $5 million and $40 million for businesses with between $5 million and $150 million in revenue. In its announcement, the firm noted that funding included leveraged accessed through its licensure by the Small Business Administration, while new and existing limited partners, banks, insurance companies, funds of funds, foundations and individuals participated in the fundraise.

Aterian Invests in Fiber Manufacturer Stein Fibers

Private investment firm Aterian Investment Partners, a middle-market private equity firm based in New York and Florida, announced its latest investment. The firm’s Fund IV provided backing to synthetic fiber manufacturer Stein Fibers, marking the fund’s fourth investment. The New York-based fiber company provides products to customers throughout North America, and through its partnership with Aterian, plans to grow organically and through merger and acquisitions deals, the press release noted.

Related content: Manufacturers’ M&A Outlook Perseveres Through Headwinds

Pamlico Joins Per Angusta to Back Procurement Spend Analytics Software

Middle market private equity firm Pamlico Capital has provided $65 million worth of backing to support a collaboration between procurement spend analytics platform SpendHQ and procurement performance management platform Per Angusta, according to a press release. As a result of the investment, Pamlico will become a minority investor in SpendHQ as well as a board member, while Per Angusta CEO Pierre Laprée will become SpendHQ’s chief product officer, as well as a board member and shareholder in the business.

“The combination of these tow successful firms plus our ambitious road map under the leadership of Scott [Macfee, CEO of SpendHQ], will create something the procurement world has never seen,” said SpendHQ founder and board char Tom Beaty in a statement. “And we are more than excited to partner with a high integrity private equity firm like Pamlico Capital to achieve this vision.”