Executives With Ties to H.I.G., Bain Form Hidden Harbor - Wall Street Journal: Private Equity
John Caple and David Block, executives with ties to private equity, formed Hidden Harbor Capital Partners, an “operationally focused” firm specializing in control investments in lower midmarket companies, according to a news release.
The Boca Raton, Fla., firm said it would target companies in the industrials, transportation and logistics, business services, consumer products and retail industries.
Hidden Harbor will invest in U.S. companies with annual revenue of $50 million to $500 million and earnings before interest, taxes, depreciation and amortization of up to $25 million with a willingness to look at unprofitable businesses, according to the release. Mr. Block, a managing partner at Hidden Harbor, is chairman of the firm’s portfolio committee. Before founding Hidden Harbor, he was president and chief executive of Swiss Watch International, which is backed by Clearlake Capital Group. Mr. Block previously was an operating partner at H.I.G. Capital. Before that, he was a strategy consultant with Bain & Co.
Mr. Caple, also a managing partner at Hidden Harbor, is chairman of the firm’s investment committee. Before founding Hidden Harbor, Mr. Caple was a partner at Comvest Partners. He previously was an investment professional with H.I.G. and a strategy consultant at Bain.