#United States #New York #Private Equity #Behrman Capital #Shurco

Behrman Capital's $250 Million Continuation Vehicle for Shurco

On July 1, 2026, Behrman Capital, a well-known private equity investment firm based in New York, announced the successful closure of a $250 million continuation vehicle called Behrman Capital CV II L.P. This initiative is directly tied to the operations of Shurco, LLC, a prominent provider of cargo covering systems and related accessories within the transportation sector, previously partnered with Behrman Capital VI L.P.

The new continuation vehicle is backed by several financial powerhouses, including Coller Capital as the lead investor, alongside additional support from Northleaf Capital Partners and Siguler Guff. Existing limited partners from Fund VI, as well as Shurco’s management team, have contributed significant proceeds to this transaction, emphasizing a strong commitment to Shurco’s future growth potential.

Behrman Capital joined forces with Shurco back in 2021 and has since played a vital role in propelling the company forward. Under Behrman’s guidance, Shurco has not only outperformed expectations in terms of revenue and EBITDA growth but has also executed five successful acquisitions that have solidified its market leadership. By diversifying and expanding its product portfolio, Shurco has made strides in penetrating new geographical areas and distribution channels, thus reinforcing its role as a key player in the cargo protection industry.

Shurco's CEO, Chad Heminover, acknowledged the firm's impressive growth trajectory and emphasized the strategic plan to leverage this continuation vehicle for further expansion. The company aims to engage in significant mergers and acquisitions to broaden its portfolio, further enhancing its reach in the relevant market segments. Heminover underlined that the collaborative effort with Behrman has positioned them well to navigate the evolving landscape of the cargo covering and securement market effectively.

Simon P. Lonergan, Managing Partner of Behrman Capital, remarked on Shurco’s success during the past five years, expressing optimism about the continued partnership with Heminover and his team. He sees plenty of opportunities for growth in the coming years, especially with the additional capital accessible through this transaction.

This move to establish a continuation vehicle is not a first for Behrman Capital; the firm has now successfully executed three GP-led transactions. The firm previously closed Behrman Capital PEP L.P. in 2012, raising around $1 billion in a multi-asset vehicle. In 2022, it followed up with Behrman Capital Micross CF L.P., a $500 million single asset continuation vehicle focused on acquiring Micross Components from Fund VI.

The extensive legal and financial consulting teams involved in this complex deal included Robert W. Baird & Co. Incorporated, providing financial advisory services to Behrman Capital, and Ropes & Gray LLP acting as legal counsel. For Shurco, Latham & Watkins LLP provided legal counsel during this significant transition. Notably, Coller Capital's involvement, recognized for its pioneering work in the secondary market for private assets, adds an additional layer of credibility to this venture.

In conclusion, this continuation vehicle represents a strategic milestone for both Behrman Capital and Shurco, paving the way for enhanced growth trajectories and firming up their partnership in the future. With a robust leadership team and capital backing from reputable investors, Shurco is poised to elevate its market position even further, responding to the dynamic needs of the cargo protection sector.

About Shurco

Shurco is a leader in providing cargo protection and securement solutions across various sectors, including Agriculture, Construction, Waste, Flatbed, and Rail. With over 70 years in operation, the company boasts a global presence with 14 facilities located in the U.S. and the U.K.

About Behrman Capital

Founded in 1991, Behrman Capital specializes in management buyouts and recapitalizations of established growth businesses, focusing on three key industries: Defense & Aerospace, Healthcare, and Specialty Industrials. The firm has raised $4.7 billion since inception and continues to invest through their seventh primary fund, capitalizing on strategic growth opportunities.

About Coller Capital

Established in 1990, Coller Capital is recognized globally as a frontrunner in private asset management. With a portfolio of $55 billion in private equity and credit solutions, the firm prides itself on providing innovative investment opportunities for stakeholders worldwide.