This week we continue our conversation with Ian MacTaggart, President & COO, and Joan McCabe, Managing Director, Brynwood Partners. Founded in 1984, Brynwood Partners is a controlled oriented, operationally-focused lower middle market private equity firm that is consumer sector focused and has established a strong niche in the corporate carve out sector. Brynwood is currently investing Brynwood VII, a $420 million fund that closed in September 2013.
Second of two parts – View part one
The Lead Left: Do you look at overseas opportunities? What is your sourcing strategy?
Ian MacTaggart: Brynwood is U.S. focused although we will also evaluate select investment opportunities in Canada. We look for consumer opportunities where we can leverage our relationships and have the ability to identify and drive cost savings. This expertise for our fund is resident here in the U.S., so naturally, this is where we focus our efforts. Recently, we have sourced most of our transactions through corporate development officers at the major consumer companies as we have remained disciplined in our investment approach and have avoided competitive auction processes.
TLL: And I suspect that you don’t waste much of your time at auctions.