Detroit-based private equity firm Speyside Equity Advisers has announced the final close of its oversubscribed Speyside Equity Fund II, reaching its hard cap of $300 million in capital commitments. The fund surpassed its original target, with strong demand from both existing limited partners and new global investors.
Fund II represents Speyside’s third investment vehicle, following Fund I and the Speyside Equity Opportunity Fund. The new fund’s investment capacity is further bolstered by affiliated co-investment vehicles. It has already made two platform investments in Reed Minerals and GSC Technologies.
Speyside focuses on acquiring underperforming manufacturing businesses in the lower middle market and transforming them through its “fix and build” strategy. The firm’s Investment Committee, featuring Eric Wiklendt, Nick Lardo, and Kevin Daugherty, collaborates closely with operating partners and management teams to enhance EBITDA margins and drive growth. Its proprietary Portco Value Creation System (PVCS) applies a phased, process-driven methodology designed to translate operational due diligence findings into measurable performance gains. The PVCS reflects two decades of cumulative experience from Speyside’s partners in buying, managing, and improving manufacturing companies.
Building on the lessons from prior funds, Speyside has refined its strategy to emphasize structural control, low leverage, and disciplined transformation. Fund II is primarily focused on platform investments in North America, while maintaining flexibility for global bolt-on acquisitions. The firm also expanded its team over the past year to execute this plan and enhance its capacity for creating scalable, repeatable value.
The new fund attracted capital from a diverse mix of institutional investors, including family offices, endowments, foundations, RIAs, private investment firms, and funds of funds. Despite challenging fundraising conditions, Speyside’s strategy and track record have resonated strongly with investors.
Speyside Equity specializes in middle-market buyout transactions within the manufacturing and value-added distribution sectors. The firm specializes in complex situations, including carve-outs, industry consolidations, bankruptcies, and family-owned transitions. Since its inception, Speyside has completed 38 investments and continues to apply a hands-on operational approach to drive long-term value creation.
KEY QUOTES:
“We really learned a lot from Speyside Equity Fund I and Speyside Equity Opportunity Fund, and we are putting those learnings into action in Fund II. Implementing those changes are like getting rid of a stone around our ankle while trying to swim. Ultimately, we are seeing the benefits of addition by subtraction. Taking a process driven approach allows us to generate scalable, repeatable value creation. We have augmented the team with several new team members over the last year in order to execute the plan.”
Eric Wiklendt, Partner, Speyside Equity Advisers
“We are excited about the portfolio of investors we have assembled. Given the headwinds in the fundraising market, the quality of our LP portfolio speaks very positively about the industry’s assessment of our strategy.”
Nick Lardo, Partner, Speyside Equity Advisers
