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Year Founded: 1999

AUM: $1B | Dry Powder: $368.1M

191 West Nationwide Boulevard, Suite 600, Columbus, OH 43215, US
Stonehenge Partners is a private equity investment firm founded in 1999 and is based in Columbus, Ohio. The firm prefers to invest in companies operating in the manufacturing, distribution, healthcare, and business services sector based in the US

Key Contacts

  • Erin Bender
    Chief Financial Officer
  • Andrew Bohutinsky
    Managing Partner
  • Peter Davies
    Managing Partner

Investment Preferences

  • Preferred Industries
    Commercial Services, Distributors/Wholesale, Healthcare Services, Other Business Products and Services, Other Healthcare, Services (Non-Financial)
  • Geographical Preference
    US
  • Preferred Deal Types
    Acquisition Financing, Buyout/LBO, Debt – General, Leveraged Recapitalization, Management Buy-In, Management Buyout, Merger/Acquisition, PE Growth/Expansion, Recapitalization
  • Other Investment Preferences
    Prefers majority stake, Prefers minority stake, Will not syndicate, Will syndicate

Investments By Year

Source: Pitchbook

Funds Closed

Stonehenge Opportunity Fund IV
Vintage: 2016

Size: $280M

Dry Powder: $32.5M 

Details: The fund targets B2B and healthcare sectors

Stonehenge Opportunity Fund III
Vintage: 2021

Size: $280M

Dry Powder: $21.1M

Details: The fund targets investments in the commercial product and healthcare sectors

Mezzanine Opportunities II
Vintage: 2018

Size: $200M

Dry Powder: $21.1M

Details: The fund targets investments in the healthcare service and manufacturing sectors

Investments By Industry

Investments By Region

Source: Pitchbook

Key Investments

In January 2023, True North Asphalt, via its financial sponsor Stonehenge Partners, acquired Huyser Asphalt Paving & Sealcoating for an undisclosed amount. Huyser provides asphalt paving and concrete solutions to a broad base of commercial customers throughout western Michigan.

In June 2022, Cold Jet received an undisclosed amount of development capital from Stonehenge Partners and Seidler Equity Partners. Cold Jet develops and manufactures dry ice blast cleaning and green cleaning system.

In February 2021, The Davlyn Group, a manufacturer of high-temperature textile products, received $10 million of development capital from Stonehenge Partners.

In June 2019, Weil Foot & Ankle Institute, a provider of podiatric care, research and training services, received an undisclosed amount of development capital from Stonehenge Partners and Aureus Capital.

In Aug 2018, Huron Capital with KCM Capital Partners and Stonehenge Partners raised a joint investment in national food service supplier Atlantic Beverage Company. Atlantic Beverage serves as Huron Flex Equity’s newest platform in the food service and distribution markets.

In Feb 2018, Verogy raised $5 million in pre-seed equity capital from Stonehenge Growth Capital. Verogy is a solar-development company.

In Oct 2017, Stonehenge Partners, Inc. invested approximately $1 billion in Simmons Grain Company. This company is a supplier of organic soybean meal to the organic poultry and egg industries.

In Aug 2017, Stonehenge Growth Capital invested $5 million through the Invest CT program in PosiGen in order to increase the company’s operations in Connecticut and to provide clean energy technology to hundreds of low- to moderate-income Connecticut households. This company has already reduced the cost burden across four states, including Connecticut, New York, Louisiana and Florida. This investment helped PosiGen to provide an additional 750 rooftop solar panel systems to further reduce Connecticut households’ energy costs.

In Dec 2015, MedVet Associates raised $31.5 million in a combination of private equity and bank loans to finance an acquisition. Stonehenge Partners Inc. and SkyKnight Capital Fund LP invested to finance MedVet’s Chicago acquisition. This deal was raised to fuel expansion of MedVet.

In Oct 2011, SL Green Realty Corp. and Stonehenge Partners formed a joint venture to enter into a contract to acquire eight retail and multifamily properties for $416 million. This transaction was completed in the first quarter of 2012. SL Green Realty Corp. is a fully integrated real estate investment trust, focused primarily on acquiring, managing and maximizing the value of Manhattan commercial properties.

Other Details

Stonehenge invests in manufacturing, distribution, healthcare and business services companies. Stonehenge avoids investments in real estate, retail and technology. The company has made over $1.4 billion of capital commitments. Its investments range from $10 million to $50 million. Its investment team comprises 18 executives.

The firm is currently investing through its fifth fund. The situations preferred by the firm are management and leveraged buyouts, acquisitions, recapitalizations and growth equity. The firm’s latest open fund Stonehenge Opportunity Fund V, has a target size of $360 million and focuses on investment in the US.

3Stone Advisors, Barings BDC, Calvert Street Capital Partners, Dayton Development Coalition, Goldman Sachs Asset Management, Incline Equity Partners, Invesco Real Estate, Installed Building Products, Littlejohn & Co., MedVet Associates, Primus Capital are some of the co-investors who invest alongside Stonehenge Partners.

Source: Pitchbook, Company Website, Press Release