IMB Partners Exceeds Fundraising Goals
IMB Partners, a prominent private investment firm located in Bethesda, Maryland, announced a significant achievement in its fundraising efforts. On February 12, 2025, the firm revealed that it had successfully closed its inaugural institutional fund, IMB Partners SBIC I (SBIC Fund I), with a total committed capital of $125.5 million. This amount surpasses the initial fundraising target of $100 million by an impressive 25%.
Founded in 2010, IMB Partners has been actively involved in private equity as an independent sponsor, securing capital on a deal-by-deal basis. Over the years, the firm has made several significant platform investments, which include companies such as Richmond Wholesale, Alder Foods, and Elite Brands that are currently consolidated as Pro Food Solutions. Other firms under their previous sponsorship include ee IT Consulting, Ashburn Consulting, Carr Duff, Farwest Corrosion Control Company, and LaFata Contract Services, which was divested in August 2022.
Kelvin Pennington, Managing Partner at IMB, expressed gratitude for the backing from a diverse group of investors. "We are honored to have the support of 100 investors and partners. This diverse group ranges from banks and pension funds to insurance companies, foundations, and high-net-worth individuals. We value each and every one who has chosen to embark on this journey with us," he noted.
IMB's CEO, Tarrus Richardson, remarked on the strategic implications of this inaugural fund. "Our first dedicated fund enables IMB to further its mission of supporting businesses within the government contracting and utilities infrastructure services sectors. We are eager to provide growth opportunities to lower middle market businesses which typically struggle to access critical capital."
From an operational standpoint, in October 2023, IMB was granted a license from the Small Business Administration (SBA) to manage the SBIC Fund I. The official close date for the fund was December 31, 2024, marking a key moment in the firm's evolution and commitment to financing smaller companies.
The placement agents responsible for facilitating this fund were Thomas Capital Group and Commerce Street Capital, LLC, based in Dallas, Texas. IMB engaged Winston Strawn LLP for legal counsel through this complex process.
With a focus on companies earning between $10 million and $100 million in revenue, IMB Partners is dedicated to investing in and partnering with management teams to scale businesses. As an entrepreneurial firm, IMB prioritizes people and partnership as foundational values in its approach to private equity.
For further insights on IMB Partners and its initiatives, one can visit
imbpartners.com or connect with the firm on LinkedIn. IMB Partners continues to stand strong as it forges pathways for lower middle-market companies, ensuring that they not only survive but thrive in today’s competitive landscape.
This fundraising success not only underlines the trust investors place in IMB Partners but also reflects an optimistic outlook on the firm’s future endeavors and its pivotal role in bolstering the economy by supporting vital sectors. By focusing on delivering essential services to utilities and government contracting, IMB seeks to foster innovation and growth in areas that significantly impact community and economic development.