No red socks here, but private equity firm Fenway Partners does boast an eclectic portfolio of midsized companies valued between $100 million and $600 million in the consumer products and transportation sectors. Its holdings include stakes in Easton-Bell Sports (maker of official NFL helmets), scholastic memorabilia maker American Achievement, and charter bus operator Coach America. Upon making its investment in a company, Fenway Partners provides management and strategy advice to boost performance. Despite its name, the company has offices in New York and Los Angeles, but not in Boston, home of baseball's Fenway Park.
Fenway Partners has $1.6 billion in capital under management on behalf of institutional investors such as retirement funds, insurance companies, and investment partnerships. The company usually holds onto its investments for four to six years.
The company is focused on growing portfolio companies to return capital to its limited partners. Fenway Partners investments help portfolio company with innovation activities, new product development, and brand building, and with expanding distribution, training, or sales assets.
Relatively quiet since it sat out the recession, Fenway Partners is seeking out investments in e-commerce and direct-to-consumer retailing.
In 2013 the company decided to get money from investors on a deal-by-deal basis rather than raising a new fund.
To raise cash, in 2012 the company sold 1-800 CONTACTS to WellPoint, Inc.
Fenway Partners also sold its interest in trucking concern Panther Expedited Services to Arkansas Best in 2012.
The company was founded in 1994 by managing directors Peter Lamm and Richard Dresdale.
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