Midwest Growth Partners Announces Major Milestone: Fund III Closure
WEST DES MOINES, IA – April 12, 2023 – Iowa-based private equity firm, Midwest Growth Partners, announced today the completion of fundraising for their third investment fund. Beginning in the second quarter of 2022, the firm exceeded its initial fundraising goal and raised $170 million in its largest fundraising effort to date.
Since 2013, MGP has stood as a trusted partner for established lower middle market companies seeking succession planning liquidity or growth investment. MGP’s team of hands-on professionals have agrarian backgrounds and an unrivalled range of experience, helping drive growth and professionalization in MGP’s partner companies, while creating value for investors.
Between MGP’s three funds, over $140 million has been directly invested into 29 private businesses thus far. MGP also helped aggregate more than $500 million within those transactions in additional private co-investment capital. Since the closure of Fund III, MGP has continued investing in U.S. food and agriculture, manufacturing, and distribution industries, often in rural, underserved areas.
MGP and its investors serve as economic drivers in America by investing anywhere from $500,000 to $20 million into profitable organizations. These investments cultivate growth, add jobs, professionalize businesses, and aid in succession planning for retiring business owners.
Over the next five years, MGP will make 10 - 15 investments with Fund III, made possible by the hard work of the MGP team and strong partnerships with investors. MGP fosters personal relationships with its diverse group of investors, which includes members of the Farm Credit System, family offices, commercial banks, corporations, trade organizations, and successful individuals.
“Since starting MGP, the achievements we’ve realized here and within our portfolio companies have been remarkable and are the result of working with people who share our values of hard work and integrity. Closing our third and largest fund is a huge milestone, and we’re looking forward to the next chapter,” remarked John Mickelson, Co-Founder and Managing Partner at Midwest Growth Partners.
Midwest Growth Partners, headquartered in Iowa with an additional office in Nebraska, is a private equity firm responsible for more than $325 million of private capital across three funds. MGP invests in established companies within the food and agriculture, manufacturing, and distribution industries. Current MGP investments have revenues totaling over $1 billion annually, employing over 3,000 people.