LOS ANGELES, July 9, 2024 /PRNewswire/ — Truelink Capital Management, LLC (“Truelink” or the “Firm”), a Los Angeles-based middle market private equity firm, is pleased to announce the final close of its first fund, Truelink Capital I, L.P. (the “Fund”). The Fund closed with aggregate third-party LP commitments of $875 million, exceeding its target of $600 million and its original hard cap of $750 million. Truelink’s General Partner and related parties also invested heavily in the Fund. The Fund received strong support from a diverse group of global investors including pension plans, foundations, insurance companies, financial institutions, family offices and consultants.
Founded by Todd Golditch and Luke Myers, formerly of Platinum Equity, Truelink has brought their well-established, operationally-intensive strategy to the middle market. Truelink pairs deep industry experience in the Technology-Enabled Services and Industrials sectors with a commitment to building partnerships that drive long-term value creation.
“This is an exciting milestone for Truelink, and we are thrilled with the support of our limited partners,” said Todd Golditch and Luke Myers, Co-Founders of Truelink. “The strong LP demand, we believe, is a testament to our team and the strategy, demonstrating deep sector experience and value-orientation with a well-established process of driving operational improvements and executing strategic M&A. We wish to thank our world-class limited partners for their commitments and trust in us.”
To date, Truelink has completed four platform investments and has executed an agreement to acquire a fifth platform:
- Trulite (closed), a fabricator of architectural glass and architectural aluminum systems used in commercial applications
- Richardson Sales Performance (closed), an education technology provider in sales training and performance improvement
- Flipp (closed), a marketing technology platform enabling digital merchandising and feature price promotions
- Ansira (closed), a marketing services company with proprietary channel, website and advertising technology platforms
- Air Distribution Technologies (signed), a manufacturer of HVAC-related air management products and filtration solutions, to be acquired from Johnson Controls
In addition, Truelink has completed four strategic and complementary add-on acquisitions to date for its portfolio companies.
William Blair & Company served as exclusive placement agent and lead financial advisor for the fundraise, and Kirkland & Ellis acted as legal advisor.
About Truelink Capital Management, LLC
Truelink is a middle market private equity firm based in Los Angeles. Truelink pairs deep industry experience in the Technology-Enabled Services and Industrials sectors with a commitment to building partnerships that drive long-term value creation through an operationally focused strategy. Truelink partners with management, corporate sellers and founders to accelerate growth through the execution of operational improvements, strategic initiatives and transformative add-on acquisitions.
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