Summer Street Capital Partners Announces the Final Closing of Summer Street Capital II, L.P.

[4/8/2007] Summer Street Capital Partners Announces the Final Closing of Summer Street Capital II, L.P.



BUFFALO, NY – April 8, 2007 – Summer Street Capital Partners, LLC ("Summer Street") announced today that it has closed Summer Street Capital II, L.P. and its affiliate partnership (collectively, "SSC II"), a $187 million private equity fund dedicated to small market buyout and growth equity investments. SSC II exceeded its $150 million target. Summer Street was founded in 1999 and manages approximately $300 million in aggregate.


"Summer Street’s portfolio has achieved over 28% compounded annual earnings growth. This resulted in significant support from existing limited partners from our first fund, while helping us attract a number of new, sophisticated investors to this second fund. We look forward to building lasting relationships with our new limited partners," said Michael McQueeney, a Managing Partner and co-founder of Summer Street.


Summer Street makes control and non-control equity investments of $5 to $30 million in companies with revenues ranging from $20 to $100 million. These investments support buy-outs, recapitalizations, organic and acquisition growth, and family transitions. While Summer Street does not have a specific industry or an exclusive geographic focus, previous investments include companies in niche manufacturing, waste management, healthcare services, and food services in the Northeastern U.S. and Canadian markets.


Summer Street has already completed its first two investments in SSC II. Brian D’Amico, a Managing Partner and co-founder of Summer Street notes, "The first two transactions in our second fund involved owners and managers who maintain an active role. These companies sought a capital partner to both realize liquidity and drive shareholder value through organic growth and add-on acquisitions. Both companies strongly believe that Summer Street has the proven experience to help them achieve their long-term strategic goals."


Greenwich, CT-based Champlain Advisors, LLC, a global fund placement and investor relations advisory firm, served as Summer Street’s exclusive placement agent in raising SSC II.

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