Nautic Partners is a
private equity firm
A private equity firm is an investment management company that provides financial backing and makes investments in the private equity of startup or operating companies through a variety of loosely affiliated investment strategies including lev ...
focused on
leveraged buyout
A leveraged buyout (LBO) is one company's acquisition of another company using a significant amount of borrowed money ( leverage) to meet the cost of acquisition. The assets of the company being acquired are often used as collateral for the loa ...
investments in
middle market companies across a range of industries that includes healthcare, industrial products, and outsourced services.
The firm has AUM of approximately $9.0 billion.
History
The firm, which is based in
Providence, Rhode Island
Providence is the capital and most populous city of the U.S. state of Rhode Island. One of the oldest cities in New England, it was founded in 1636 by Roger Williams, a Reformed Baptist theologian and religious exile from the Massachusetts ...
,
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...
, was founded in 1986 as Fleet Equity Partners, a subsidiary of
Fleet Bank
FleetBoston Financial was a Boston, Massachusetts-based bank created in 1999 by the merger of Fleet Financial Group and BankBoston. In 2004 it merged with Bank of America; all of its banks and branches were converted to Bank of America.
Histor ...
.
Initially, Fleet Equity Partners invested in private equity exclusively on behalf of the bank. However, beginning in 1993, the team began to accept outside investors. In 2000, Nautic Partners was formed as an independent private equity firm with the majority of its capital for its fifth investment vehicle provided by outside investors. Fleet remained a minority investor.
Among the firm's notable investments are
Prince Sports
Prince Global Sports, LLC is an American sporting goods manufacturing company based in Atlanta, Georgia. Founded in 1970, Prince's range of products includes rackets, footwear, apparel, tennis balls, pickleball paddles, stringing machines, hats a ...
, Fibertech, Big Train Coffee and R2C Group. The firm was also previously the owner of
Skyline Chili
Skyline Chili is a chain of Cincinnati-style chili restaurants based in Cincinnati, Ohio. Founded in 1949 by Greek immigrant Nicholas Lambrinides, Skyline Chili is named for the view of Cincinnati's skyline that Lambrinides could see from his fi ...
. Its healthcare investments include All Metro Health Care, Gaymar and Family Physicians Group.
In 2015, the firm acquired Source4Teachers, a
New Jersey
New Jersey is a state in the Mid-Atlantic and Northeastern regions of the United States. It is bordered on the north and east by the state of New York; on the east, southeast, and south by the Atlantic Ocean; on the west by the Delaware ...
provider of outsourced substitute teacher services.
On May 17, 2017 – Nautic Partners, LLC announced that it has entered into a definitive agreement to acquire, in partnership with management, Endries International, Inc. and certain Endries-related affiliates from Ferguson Enterprises and its affiliates. The transaction was expected to close within 45 days.
In March 2020, Nautic Partners acquired Harrington Industrial Plastics, in partnership with Harrington management.
References
Down 1 Backer, Nautic Makes Do With Less Private Equity Insider, April 2, 2008
Nautic Partners Sells Medegen to CareFusion New York Times, May 19, 2010
Nautic Close to Unloading Contec, Report Says New York Times, June 14, 2006
External links
Nautic Partners(company website)
Private equity firms of the United States
Companies based in Rhode Island
American companies established in 1986
Financial services companies established in 1986
Investment banking private equity groups
1986 establishments in Rhode Island
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