News

$187 Million Fund Closed

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 Capital Partners realizes investment in Reichert, Inc.

Summer Street Capital Partners announced today that Beecken Petty O’Keefe & Co. acquired Summer Street portfolio company Reichert, Inc. in a management recapitalization.

Reichert, based in Buffalo, New York, is a leading manufacturer of high-quality diagnostic devices for ophthalmologists, optometrists and retail eyecare centers. The Company provides a broad portfolio of equipment for use by eyecare professionals in diagnosing conditions ranging from common vision problems to significant diseases such as glaucoma. Reichert has established itself as one of the most tenured and recognizable names in the eye care industry, and has built a leading market share in many of its product lines. Additionally, it has created significant brand recognition among eye care providers, and works closely with leading teaching hospitals, research centers and universities to develop groundbreaking instruments for the diagnosis and management of diseases of the eye.

Summer Street Capital sells portfolio company Interstate Waste Services, Inc.

Summer Street Capital Partners announced today that AIG Highstar Capital II, L.P. acquired Summer Street portfolio company Interstate Waste Services, Inc. (IWS) in a transaction considered to be one of the most significant M&A events in the municipal solid waste industry this year.

IWS, based in Sloatsburg, New York, is a leading solid-waste management operation involved in the collection and disposal of non-hazardous solid waste. One of the largest independent municipal solid waste companies in the United States, IWS operates in 21 municipalities throughout northern New Jersey and the lower Hudson Valley region of New York. IWS also owns and manages a network of strategically located transfer stations, and operates a high volume material recycling facility.

Operating Partners Mike Serventi and John Burgess join Summer Street team

Summer Street Capital Partners today announced that Mike Serventi and John Burgess have joined Summer Street as Operating Partners. 

“Summer Street is fortunate to be able to add the talents of these two experienced CEOs to the Operating Team supporting our portfolio companies,” noted Mike McQueeney, Managing Partner.  “Their experience running middle market manufacturing and service firms is a perfect match for the needs of the growing companies we invest in.”  Summer Street formed the Operating Partner team to assist in reviewing acquisitions and investments, and to provide operational resources for the companies in the Summer Street portfolio.  Mike and John join Summer Street Operating Partner Doug VanOort, who previously ran several private and public companies in the business services, telecommunications, and health sciences industries.