Mangrove Equity Partners is pleased to announce the first and final closing of our latest fund, MEP II. Our formal fund raising process for this $125MM equity fund was quick, requiring only a few months to complete. Virtually all of our existing limited partners invested in MEP II. Due to our good fortune in MEP I, we enjoyed the reward of there being significantly more interest in the fund than there was room.
Mangrove recently purchased Minneapolis, Minnesota based Tioga, Inc. from its current entrepreneurial ownership team to affect the Mangrove team’s 127th transaction and enter our 54th industry. Tioga is a manufacturer of temporary and permanent heating solutions for industrial applications. The Company rents and sells both direct-fired and indirect-fired heaters to a wide range of markets worldwide.
Mangrove Equity Partners is pleased to announce the sale of Gayesco, LLC. With the exit of Gayesco, Mangrove has enjoyed yet another successful partnership with a strong management team seeking the ideal partner for liquidity and growth. The ability of Mangrove’s three-man internal operating team to help management build value was evident at Gayesco where Mangrove supported management in: (more…)