May 3rd, 2013
CHARLOTTE and RALEIGH Plexus Capital, which specializes in providing growth capital to lower middle market businesses across the nation, has been named the U.S. Small Business Investment Company (SBIC) of the Year for 2013. In announcing that Plexus is the top SBIC of more than 300 in the nation, Small Business Administration (SBA) Administrator Karen Mills cited Plexus Capitals hard work, innovative ideas and dedication. Plexus Capital will receive the SBIC of the Year Award June 21 during the 50th Anniversary of National Small Business Week. The North Carolina-based firm has just completed raising $150 million in private capital from its long standing limited partners. Pending final SBA approval, this private capital will be combined with leverage from the SBA in the same amount to create Plexus Fund III, with total available investment capital of $300 million. Plexus invests across a broad range of industries and typically in privately-held, lower middle market businesses across the United States. Plexus Capital meets strict SBA licensing criteria in order to provide subordinated debt and equity capital as an SBIC serving small businesses across the nation.
Being named the nation’s Small Business Investment Company of 2013 speaks to the value we are providing to our investors and small businesses across the country, said Plexus Capital Managing Partner Bob Anders. Plexus is distinguished by our focus on relationships, our determination to create access to growth capital for U.S. middle market businesses, and our proven ability to continue to earn the confidence of our investors. With investments in more than 50 businesses, and experience managing through all economic cycles, we have proven ourselves to be patient investors with the experience it takes to succeed. The SBA selected Plexus Capital for the honor based on its award criteria which included portfolio company revenue and employment growth, strong commitment to overall business growth, management of portfolio companies, and participation in the small business community.
The Small Business Investment Company (SBIC) program, administered by the U.S. Small Business Administration (SBA), is a private-public partnership created in 1958 to fill the gap between the availability of growth capital and the needs of small businesses. The SBA’s Investment Division licenses qualified private equity fund managers and provides them with access to low-cost, government-guaranteed capital to make investments in U.S. small businesses. (see http://www.sba.gov/content/faqs)
Click here to see our announcement as a PDF.
Over the past two years, Plexus Capital has made investments totaling more than $100 million in high growth, lower middle market businesses from its $175 million Plexus Fund II.
Specializing in providing growth capital in the form of mezzanine, subordinated debt, or preferred equity, Plexus launched Fund I in 2005 and followed with Fund II in 2009. The Plexus team currently manages approximately $255 million of investable capital and has closed 45 investments between its first two Funds.
“Plexus conducts exhaustive due diligence, employing the most current technology and maintaining close contact with our portfolio management teams. We strive to build a mutually beneficial relationship with each of our constituents — always with the long term in mind. What distinguishes Plexus is our desire and willingness to serve as a valued strategic financial partner to each and every one of our portfolio companies,” said Bob Anders, Plexus managing partner.
Plexus focuses on providing growth capital to healthy businesses located in the Eastern United States with revenues between $20 million and $100 million. The private firm is a Small Business Investment Company (SBIC) and provides funding from its private investors in collaboration with the Small Business Association.