January 23, 2008
Signal Hill Equity Partners closes $100 million Fund II
SIGNAL HILL EQUITY PARTNERS II, LP CLOSES WITH $100 MILLION OF CAPITAL COMMITMENTS
(Toronto, January 23, 2008): Signal Hill Equity Partners, an independent, mid-market private equity manager, is pleased to announce it has recently completed the first and final closing of its second private equity fund, Signal Hill Equity Partners II, LP. The fund received $100 million of capital commitments, its capped amount.
The investors in Signal Hill Equity Partners II, LP include a constituency of international investors, Canadian private investors and some of the largest institutions in Canada. We are extremely pleased that limited partners representing more than 97% of the capital commitments in Signal Hill Equity Partners I, LP (co-managed by Ironbridge Equity Partners Limited) are participating in the second fund.
Signal Hill Equity Partners is managed by investors who have completed over 50 transactions during their 30 years of collective experience. We focus on Canadian mid-market manufacturing, distribution, consumer products and business services companies and support management teams to build successful and enduring businesses.
Successful investments completed by Signal Hill Equity Partners I, LP include: Orbit Garant Drilling Inc, one of the largest Canadian-based drilling companies servicing the domestic and international mining industry; and, Gesco Industries Inc, one of Canada's leading national floor covering distributors with five distribution facilities. Gesco has operated under the SHNIER name since 1934.
Signal Hill takes its name from the renowned Canadian historical site which has served as an important communication link and place of innovation. For centuries, its strategic location overlooking the City of St. John's, Newfoundland made Signal Hill the central observation point between the mainland and the activities at sea. Its importance as a communication link continued into the 20th century, as the reception point of the first transatlantic wireless signal by Guglielmo Marconi in 1901. Signal Hill Equity Partners represents these same principles of communication, innovation and perseverance.
We are very excited about the prospects for Signal Hill Equity Partners II, LP and encouraged by the several opportunities currently under consideration.
James C. Johnson