Saw Mill Capital Announces $435 Million Oversubscribed Fund III to Drive Growth for Lower Middle-Market Businesses

Briarcliff Manor, NY — November 4, 2024 — Saw Mill Capital, a middle-market private equity firm focused on partnering with North American industrial services, professional services, and engineered products companies, is pleased to announce the final close of its $435 million Saw Mill Capital Partners III, LP. Fund III’s diverse and high-quality investor base includes insurance companies, consultants, public pensions, endowments, family offices, sovereign wealth funds, wealth managers and funds-of-funds across North America, Europe and around the globe. Demonstrating its commitment to aligning incentives with investors and management teams, Saw Mill’s investment team committed $50 million to Fund III.

Howard Unger, Founder and Managing Partner, remarked, “We are honored by the trust of our longstanding and new investors, who recognize the value that our differentiated approach brings to the lower middle-market space. Our tenured partnership and expanded team will continue to focus on investing in transformative, high-growth opportunities.”

Saw Mill’s oversubscribed Fund III is more than 25% deployed to date in three portfolio companies: RAFTRx, a residential roofing provider; Southern Aluminum, a manufacturer of specialty hospitality furniture; and Pro Max Fence Systems, a commercial fencing contractor. Fund III will continue to leverage Saw Mill’s partnership-driven model, focused value creation strategy, and industry research.

Scott Rivard and Tim Nelson, Partners and Investment Committee members, added, “Our investment process is powered by deep, industry-focused research, enabling us to identify high-potential businesses and create tailored strategies for growth. With Fund III, we’re excited to continue leveraging our research capabilities to support and scale businesses.”

Harris Williams served as Fund III’s placement agent. Latham & Watkins served as fund counsel for Fund III.

About Saw Mill Capital

Saw Mill Capital is a private equity firm that partners with founders and management teams of successful, entrepreneurial industrial services, professional services, and engineered products businesses with enterprise values up to $200 million. We are growth-focused partners with a long-term mindset to build enduring value and preserve legacy in the businesses in which we invest. Leveraging our dedicated investment research team and curated operational approach, we invest aggressively in our portfolio companies to accelerate growth and build market-leading businesses. For more information, visit www.sawmillcapital.com.