O.C. #PrivateEquity firm raises $42.5 million @OCReggie #shareoc

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By JAN NORMAN / THE ORANGE COUNTY REGISTER


Newport Beach private equity firm Solis Capital Partners said it has raised $42.5 million in commitments for a $100 million fund that it expects to close by the end of 2012.


Solis, founded in 2002, used Fund I to invest in CertiFresh, Southern California seafood supplier, and Miro Technologies, San Diego logistics software, and other lower middle-market business services, manufacturers and value-added distributors.


Solis Capital Partners, a Newport Beach private equity firm, has raised $42.5 million.


TEXT BY JAN NORMANADVERTISEMENT Fund II is already negotiating its first investment, an unnamed San Clemente company, the company said.


"The launch of Fund II is a milestone for Solis," said Dan Lubeck, managing director and founder of Solis. "We appreciate the support and validation from our prior and new investors, especially in this challenging fundraising environment... We, and firms like us that have expertise in the lower middle-market, will be very important to the American economy as the very large number of aging Baby Boomers seek to recapitalize or exit their businesses."
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