Warren Equity Partners, a leading private equity firm, has announced the successful final closing of its latest fund, Warren Equity Partners Fund III, LP (WEP III), and its affiliate fund, Warren Equity Partners Fund III-A, LP. The fundraise reached its hard cap, accumulating an impressive $673 million, significantly surpassing the initial target of $550 million. This achievement underscores strong investor confidence in Warren Equity Partners’ focused investment strategy and operational expertise within the infrastructure sector. WEP III was fully committed in less than two months, demonstrating exceptional demand from both returning and new limited partners.
The oversubscribed fund attracted a diverse investor base, including prominent university endowments, pension funds, fund of funds, private foundations, and family offices. This broad support highlights the appeal of Warren Equity Partners’ strategy and track record in the competitive private equity landscape.
Founded in 2015 by Steven Wacaster, Scott Bruckmann, and Henrik Dahlback, Warren Equity Partners specializes in buyouts and recapitalizations of established North American companies. The firm’s distinctive focus lies in businesses critical to maintaining, operating, and upgrading infrastructure across various sectors. Currently managing $1.2 billion in assets, Warren Equity Partners has a robust transaction history, completing 48 deals, including 14 platform company acquisitions, since its inception. This substantial portfolio reflects the firm’s active role and deep expertise in the lower middle market.
Steven Wacaster, Co-Founder and Managing Partner at Warren Equity Partners, expressed gratitude for the overwhelming investor support. “We are truly thankful for the continued commitment from our existing limited partners and the strong interest from new investors in WEP III,” Wacaster stated. He further emphasized the fund’s strategic direction, noting, “WEP III will continue to execute the strategy proven in our previous funds, focusing on investments in companies delivering essential infrastructure solutions. We are dedicated to partnering with talented management teams to build exceptional companies within this vital sector.”
Warren Equity Partners strategically targets companies in the lower middle market, leveraging its in-house operations group to implement operational improvements and position portfolio companies for accelerated growth. This hands-on approach is a key differentiator for the firm, enabling them to unlock value and drive significant returns for investors.
Scott Bruckmann, Co-Founder and Partner, highlighted the strength of the Warren Equity Partners team and their collaborative approach. “We are incredibly proud of the team we have built at the Firm and the strong partnerships we cultivate with the management teams of our portfolio companies,” said Bruckmann. “Our commitment remains steadfast in further developing and deploying our unique operating system to generate substantial value for both our investors and the employees of the companies we partner with.”
WEP III has already made two significant platform investments: ADB Companies, a leading turnkey provider of telecom and utility infrastructure solutions, and Magnolia River, a provider of technology-enabled underground infrastructure inspection services. These initial investments exemplify Warren Equity Partners’ commitment to deploying capital in high-potential infrastructure businesses.
Eaton Partners and Aqueduct Capital acted as placement agents for WEP III, while Kirkland & Ellis LLP provided legal counsel. These partnerships with leading advisors further validate the strength and professionalism of the Warren Equity Partners fundraising and operational capabilities.
About Warren Equity Partners
Warren Equity Partners is a private equity firm focused on investing in the lower middle market, primarily across North America. The firm targets established companies within the industrial, infrastructure, and business services sectors where strategic capital and operational resources can catalyze growth. Warren Equity Partners employs a flexible investment approach, engaging in buyouts, growth equity, and recapitalizations.
For more detailed information about the firm and its investment strategy, please visit www.warrenequity.com.
