Shore Capital Partners, a Chicago-based private equity firm focused on the lower middle market, has closed its second dedicated industrials vehicle, Shore Capital Industrial Partners Fund II, with more than $400 million in capital commitments, reflecting what the firm described as strong demand from both existing and new limited partners for its sector-focused strategy.
The new fund builds on Shore’s inaugural Industrials fund, which closed in July 2023, and extends the firm’s broader approach of targeting fragmented industries with durable demand, then scaling platform businesses through operational resources, leadership development, and shared infrastructure. The vehicle is led by Founder and Managing Partner Justin Ishbia, alongside Partners John Sznewajs and Dan Spradling, as Shore looks to deepen its industrials footprint while staying within its “grow faster with less risk” playbook.
In industrials, Shore said it has already made multiple platform investments across building services, infrastructure support, and mission-critical industrial solutions. The firm highlighted examples spanning commercial HVAC and plumbing, residential roofing, automation systems integration, and electrical safety, framing these as representative of end markets where recurring needs and operational scaling can support sustained value creation.
Fund II will continue to focus on niche industrial businesses that Shore believes are positioned to benefit from steady demand and professionalization at scale. The firm identified priority themes, including infrastructure-adjacent services, environmental and safety solutions, building envelope and access systems, and specialized maintenance and repair. It also identified selective opportunity sets, including residential overhead doors, utility services, traffic management, environmental services, flow control and filtration, and aviation maintenance, repair, and overhaul.
Shore positioned the fundraise as another sign of LP confidence in its consistency and sourcing engine, emphasizing that its origination efforts are built around long-term theses and proprietary relationships. The firm also underscored its post-investment support model, arguing that shared operational capabilities and executive networks help management teams professionalize and execute growth plans with greater confidence.
Support: Kirkland & Ellis LLP served as Shore’s legal advisor for the fundraising.
KEY QUOTES
“Industrials continues to be a natural extension of the Shore playbook. We’re seeing sustained tailwinds across sub-categories, and this fund allows us to be an even more intentional, long-term partner to founders and management teams — investing in operational excellence, leadership development, and scalable infrastructure to build businesses faster with less risk.”
Justin Ishbia, Founder and Managing Partner, Shore Capital Partners
“LP interest in Industrials Fund II reflects the depth and consistency of opportunity we’re seeing across these markets. Our sourcing is driven by long-term sector theses and proprietary relationships, which allows us to identify high-quality businesses early and partner with management teams from a position of alignment.”
John Sznewajs, Partner, Shore Capital Partners
“What we believe differentiates Shore in Industrials is how we support value creation post-investment. Our experience across multiple verticals, combined with shared operational resources and executive networks, enables us to help management teams professionalize, scale, and execute with confidence.”
Dan Spradling, Partner, Shore Capital Partners
