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From Arcapita's ashes, a new private equity firm rises

September 25, 2013: 11:42 AM ET

Eagle-Merchant-PartnersEagle Merchant Partners will continue to manage some old Arcapita investments.

FORTUNE -- The U.S. private equity team of Bahrain-based Arcapita has spun out into an independent firm called Eagle Merchant Partners, Fortune has learned.

The Atlanta-based group will continue to manage several legacy Arcapita investments, including portable storage company PODS and apparel retailer J. Jill. Going forward, it plans to focus on middle-market businesses in the consumer, business services and industrial sectors. Target companies will have revenue of between $20 million and $200 million, and EBITDA of between $5 million and $40 million.

While with Arcapita, the team invested over $1 billion, into such companies as Caribou Coffee, Church's Chicken and Loehmann's.

The news comes just days after Arcapita emerged from U.S. bankruptcy protection, in a deal that The Wall Street Journal said represents "the first true post-financial-crisis debt restructuring by an Arab Gulf company."

No word yet on Eagle Merchant Partners' capital availability or fundraising plans. Calls made to partner Stockton Croft were not returned.

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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