Nautic Partners

Last updated
Nautic Partners
Company type Private
Industry Private equity
Founded1986
Headquarters Providence, Rhode Island, United States
Products Leveraged buyout
Total assets $2.0 billion
Number of employees
20+
Website www.nauticpartners.com

Nautic Partners is a private equity firm focused on leveraged buyout investments in middle market companies across a range of industries that includes healthcare, industrial products, and outsourced services.

Contents

History

The firm, which is based in Providence, Rhode Island, United States, was founded in 1986 as Fleet Equity Partners, a subsidiary of Fleet Bank. [1] 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, [2] Fibertech, [3] Big Train Coffee [4] and R2C Group. [5] The firm was also previously the owner of Skyline Chili. [6] Its healthcare investments include All Metro Health Care, Gaymar and Family Physicians Group. [7]

In 2010, the firm sold medical device company Medegen to CareFusion. [8]

In 2015, the firm acquired Source4Teachers, a New Jersey provider of outsourced substitute teacher services. [9]

In 2016, Nautic acquired Endries International from Ferguson Enterprises, selling the company to MSD Partners in December 2018. [10] [11]

In March 2020, Nautic acquired Harrington Industrial Plastics in partnership with Harrington management. [12]

In December 2021, Blackstone Group acquired a minority ownership interest in Nautic Partners. [13]

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References

  1. Nunes, Philip (11 January 2016). "Nautic Partners, LLC ("Nautic") Has Completed a Successful Fund Raise of $900 million for Its Eighth Fund". businesswire.com. Retrieved 11 March 2016.
  2. Nautic Partners and management acquires Prince Sports. AltAssets, Aug 13, 2007
  3. Fibertech Switches Private Equity Owners. New York Times, August 26, 2010
  4. Nautic Partners acquires Big Train company. AltAssets, May 3, 2006
  5. Gabrielson, Courtney (27 March 2019). "Nautic Partners Raises $1.5B For Its Ninth Fund". www.bizjournals.com. Retrieved 4 January 2024.
  6. "Companies Archive". Nautic. Retrieved 2019-02-10.
  7. "Nautic Partners Sells Medegen to CareFusion". New York Times. 19 May 2010. Archived from the original on 24 May 2010. Retrieved 4 January 2024.
  8. Noto, Anthony (24 April 2015). "Houghton Mifflin Grows Services With Education Tech Deal". Mergers & Acquisitions. Retrieved 28 April 2015.
  9. Bergenheim, Chris (18 May 2017). "Nautic to acquire Endries International". Providence Business News. Retrieved 4 January 2024.
  10. "Nautic Partners Sells Endries International to MSD Partners". Wall Street Journal. 11 December 2018. Retrieved 4 January 2024.
  11. "Nautic Partners Announces Acquisition of Harrington Industrial Plastics in Partnership With Management". Bloomberg.com. 2020-03-03. Retrieved 2020-03-17.
  12. Oguh, Chibuike (December 14, 2021). "Blackstone takes stake in private equity firm Nautic Partners -sources". Reuters. Retrieved January 7, 2024.