Tinicum Capital Partners, L.P. was formed in December 1998 with committed capital of $272 million and is fully invested. Tinicum Capital Partners II, L.P. was formed in May 2004 and has committed capital of $1.325 billion. Both funds (referred to here as “Tinicum Capital Partners” or “Tinicum”) were established with flexible investment mandates. Tinicum Capital Partners, which is managed by Tinicum Incorporated, seeks to acquire control of companies through acquisitions or restructurings or to take minority stakes in public or private companies through equity or debt securities. Tinicum’s investors are all individuals and families (no institutional investors).
Tinicum primarily pursues investments of $25 million to $75 million, but may invest more or less depending on the specific characteristics of an opportunity. Tinicum has been successful investing in companies that it has owned over a timeframe long enough to allow (i) the company’s business to grow internally and (ii) the company’s value to compound as its profits are reinvested in the business. Generally, Tinicum does not seek to capitalize on an arbitrage between the purchase price and the estimated price at which a quick sale might be made. On the contrary, Tinicum has typically invested in companies whose prospective cash flows will generate attractive returns on their purchase prices and which Tinicum would be satisfied to own for the long term.