Milwaukee-based private equity firm Mason Wells announced it has raised $615 million for its fourth private equity fund, Mason Wells Buyout Fund IV.
The firm started raising the fund last summer, with a goal of $550 million.
Mason Wells, which was founded in 1998, will use this fourth fund to continue acquiring companies in its target industries, which are outsourced business services, consumer packaged goods, engineered products and services, and packaging materials and converting. It expects to invest in between 10 and 14 companies over the next four to five years with Fund IV.
The firm focuses on Midwest-headquartered companies in the lower middle market with between $25 million and $300 million in revenues and EBITDA of $5 million to $30 million. It also makes smaller acquisitions to roll into its portfolio companies. Once an acquisition is made, Mason Wells leads growth and improvement in the company’s operations and financial performance.
Mason Wells currently has 13 companies in its portfolio, including Milwaukee-based The Oilgear Co., Oconomowoc-based Paragon Development Systems Inc. and Waukesha-based Dedicated Computing LLC. The company has sold another 13 companies it previously held in its portfolio.
