#United States #Mesa #Private Equity #Northrim Horizon #Fund III

Overview of Northrim Horizon Fund III

Northrim Horizon, a prominent player in the world of permanent capital investments, has reached a significant milestone with the closure of its third fund, known as Northrim Horizon Fund III, L.P. This fund has successfully raised a total of $235 million, hitting its hard cap, and accumulates commitments from a wide range of prestigious global investors. The backers of this fundraising effort include top insurance companies, endowments, fund-of-funds, and family offices, a testament to Northrim's growing reputation in the investment community.

Strategy and Focus

Similar to its previous funds, the third fund will target partnerships with well-established, sustainable platforms primarily within the realms of business and consumer services, healthcare services, and software technology-enabled services. This strategic direction aligns with Northrim's historical investment preferences, focusing on mature, cash-generative businesses.

Brad Gulbrandsen, Managing Partner at Northrim Horizon, expressed enthusiasm about the closure of Fund III stating, "We are thrilled to share the successful close of Fund III and deeply appreciate the trust our investors have placed in us. With this additional capital, we are well-positioned to grow our portfolio and drive enduring value for our partners and stakeholders."

Since its inception, Northrim Horizon has made investments in 47 companies across various sectors, which include 11 platforms and 36 strategic add-on acquisitions. The firm primarily seeks mature businesses with earnings before interest, taxes, depreciation, and amortization (EBITDA) ranging from $1 to $5 million. This focus on established businesses demonstrates Northrim's strategy of scaling companies that exhibit consistent performance and profitability.

Legal Counsel and Operational Structure

The law firm DLA Piper served as legal counsel for the fundraising efforts of Fund III, emphasizing the importance of adhering to regulatory frameworks and ensuring that the fund operates under sound legal and financial governance. The operational structure at Northrim is defined by a commitment to building long-term value through reinvesting earnings into the portfolio companies and nurturing their developmental pathways.

About Northrim Horizon

Northrim Horizon is headquartered in Mesa, Arizona, where it continues to grow its portfolio of well-run, profitable service, and software businesses. The firm distinguishes itself by focusing on long-term value creation, setting it apart from many other investment firms that often prioritize short-term gains. Investors looking for stability and growth within the private equity landscape are increasingly turning to Northrim for its proven investment strategies and reliable management.

For more detailed information regarding their investment philosophy and portfolio, interested stakeholders can visit www.northrimhorizon.com.

In Conclusion

As Northrim Horizon closes Fund III, it not only demonstrates its capability to attract significant investments but also reinforces its commitment to fostering growth in sustainable business sectors. The successful fundraising is a clear indication of investor confidence in Northrim's strategic vision and operational expertise. As they move forward, the firm aims to navigate the dynamic investment landscape effectively, ensuring impactful partnerships and robust business performance for years to come.