– Sky Island Capital, a Dallas-based lower middle market private equity firm, closed its second private equity fund, Sky Island Capital II LP, with $300 million in commitments.
– Fund II surpassed its $225 million target, attracting both existing investors and new limited partners, including insurance companies, foundations, family offices, endowments, and fund of funds.
– Established in 2018, Sky Island specializes in partnering with privately held North American manufacturing companies, leveraging an operational playbook to drive value post-acquisition.
– The firm has partnered with family owners of 17 manufacturing companies in sectors such as aerospace & defense, building products, consumer products, food & beverage, industrial products, metals, and packaging.
– Jack Waterstreet, Managing Partner: “Sky Island was born out of the desire to work alongside entrepreneurs and family business owners to serve as a resource and strategic partner with one goal in mind – growth. This milestone enables our team to continue providing long-term value for our various stakeholder groups.”
– Eaton Partners, a Stifel Financial Corp. Company, served as exclusive placement agent, and Jones Day acted as legal counsel for the fund.
– Ryan Still, Managing Director at Eaton Partners: “Sky Island is well-positioned to take advantage of what we believe is a unique time in the North American manufacturing market with untapped growth potential.”
