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Two Boston-based private equity firms—Eastfield Capital and Tideshift Capital Group—have splashed into the lower middle market, led by founders with experience at Nautic Partners, Freeman Spogli & Co. and Centerbridge Partners.
Nick Vidnovic, a former principal at Nautic Partners, and Juan Pita, a former principal at Freeman Spogli, started Eastfield Capital to invest on a deal by deal basis in consumer services and business services companies.
Richard Prestegaard has joined the New York City office of consumer and distribution specialist Freeman Spogli & Co as a principal and head of business development.
It appears to be a new role for the 36-year-old firm, which acquires healthy North American companies generating $10 million to $75 million of EBITDA. Target industries include consumer products, consumer healthcare, e-commerce, restaurants, retail services, wholesale distribution and specialty distribution.