Former Trive Capital Managing Director Nick Miner has set his sights on acquiring North American companies operating in fragmented markets and with the potential for improvement and growth.
His new firm, Sounder Partners, is among several PE firms popping up recently, including ones launched by former executives at H.I.G. Capital, Summit Park, Nacascolo Holdings and Andalusian Private Capital.
The Dallas-based Sounder Partners, San Francisco-based Aphias Capital, Charlotte, North Carolina-based Newfound Equity and San José, Costa Rica-based Vanquish Equity are ready to make deals in such sectors as manufacturing, technology, healthcare and consumers. It was not immediately clear how these firms plan to finance their early deals. But regulatory filings show that another new firm, Ashcroft Partners, has raised at lest $125 million for its debut fund.
The launches, which will almost certainly spell new jobs, continue a surge of new firms being launched by practiced investors, as covered last month by Private Equity Career News. We were unable to reach executives at the firms by press time to learn about hiring plans. However, Aphias Capital plans to reveal nine new hires next month.
- Sounder Partners: Miner spent about nine years at Dallas-based Trive Capital, most recently as partner. He is joined by at least two other team members at Sounder Partners, which is also looking to build out an “operator network” of executives. The firm acquires companies generating EBITDA of more than $2 million in industrial and commercial services, business and professional services, specialty manufacturing and value-add distribution.
- Aphias Capital: Managing Partner Rob Wolfson founded Aphias Capital earlier this year after spending nearly 20 years at Miami-based buyout firm H.I.G. Capital. There he served as an executive managing director, global head of healthcare, head of the Advantage fund and head of the San Francisco office. The founding team includes Managing Director Luke Torres, who served as an associate at H.I.G. Capital from 2015 to 2018. Along with promising that at least nine new hires will be revealed next month, the firm’s website team page includes a section devoted to executive advisors to be announced. Aphias Capital backs companies generating annual EBITDA of $5 million to $30 million in healthcare services and other essential services.
- Newfound Equity: The firm that Founders and Partners Mike York and Chris Caliunveiled earlier this year invests in the tech-enabled IT and business services sectors. Based in Charlotte, North Carolina, York formerly served as a partner at services, consumer and industrial growth firm Summit Park, also based in Charlotte. Cali, working in the New York City Metropolitan Area, is a co-founder and former managing partner at technology consulting firm Spark Digital and a co-founder and former CEO of SaaS company Panvidea. No additional employees were listed on the firm’s website as of press time. Newfound Equity targets lower-middle-market companies generating $2 million to $10 million EBITDA.
- Vanquish Equity: Co-Founder and Managing Director Pedro Beirute Prada unveiled Vanquish Equity earlier this year. Prada previously served as CEO of the Costa Rica Trade and Investment Promotion Authority PROCOMER. He’s joined by Founder and Managing Partner Frank Woodbridge Paris, former CEO and Managing Partner at Nacascolo Holdings and division president for PepsiCo’s North America beverages. The growth equity firm, which has a team of at least four, invests in consumer companies across Latin America and the United States.
- Ashcroft Partners: Former Andalusian Private Capital Managing Director Jarett Banks last year founded Ashcroft Partners and serves as managing partner. Details of the firm’s investment strategy were unclear as of press time, but at Andalusian Private Capital Banks would have worked on deals in such fields as technology, media and sports. Ashcroft Partners has been raising money for its first fund, Monmouth Shores Equity LP, which as of a November 2024 filing had reached at least $125 million from three investors. The fund issuer is based in Aspen, Colorado.