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Charter Capital Partners company logo
Investment Bank
FINANCE | Investment Banking
chartercapitalpartners.com

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Investments

16

Portfolio Exits

2

Funds

7

About Charter Capital Partners

Charter serves middle market companies, delivering solutions across the continuum of capital. In operation since 1989, Charter is an investment banking firm serving the middle market from multiple offices in the Midwest.

Charter Capital Partners Headquarters Location

140 Monroe Center NW, Ste 300

Grand Rapids, Michigan, 49503,

United States

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Latest Charter Capital Partners News

Charter Capital Partners prepares to raise second, larger mezzanine fund

Aug 10, 2022

BY Mark Sanchez Wednesday, August 10, 2022 07:04pm GRAND RAPIDS — Three years after forming a fund to invest in companies needing growth capital, Charter Capital Partners LLC has begun preparing to start a larger, successor fund. The Grand Rapids-based investment bank’s first mezzanine fund, known as Charter Growth Capital Fund, has so far deployed $31 million of the $41 million it raised from 43 investors. John Kerschen.COURTESY PHOTO With investments in nine companies over three years and a robust pipeline of prospects, the deal flow indicates continued demand for a second fund that targets investments in a segment of the market that’s below where many larger mezzanine lenders participate. “We feel our initial thesis when we contemplated fund one has confirmed or validated that there is need for this — we’ll call it junior capital — at the lower end of the middle market,” said John Kerschen, president and managing partner at Charter Capital Partners. “That means we’re going to start thinking about fund two. We believe there continues to be market demand for this kind of capital.” Founded in 2019, Charter Growth Capital Fund invests $1 million to $5 million through loans or non-controlling equity investments, or a combination of the two, in fast-growing, profitable companies in the lower end of the middle market. The fund targets growing companies with annual revenues of $10 million to $50 million in the Great Lakes region: Michigan, Ohio, Indiana, Illinois, Wisconsin and Minnesota. The mezzanine capital helps fill the gap between the amount of capital a business needs and what it can secure from a senior lender through a conventional commercial loan. Of the nine companies that Charter Growth Capital has backed, five are based in Michigan. Kerschen expects the fund will make a total of 12 investments and begin seeking investors for the successor fund after another one or two deals, probably in the fourth quarter.

Charter Capital Partners Investments

16 Investments

Charter Capital Partners has made 16 investments. Their latest investment was in Lambert & Co. as part of their Unattributed on February 2, 2022.

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Charter Capital Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

2/10/2022

Unattributed

Lambert & Co.

Yes

1

1/20/2021

Unattributed

Premier Engineered Products

Yes

1

12/11/2019

Recap

All Star Driver Education

Yes

2

10/2/2019

Unattributed

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10

1/14/2019

Series C - II

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$99M

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10

Date

2/10/2022

1/20/2021

12/11/2019

10/2/2019

1/14/2019

Round

Unattributed

Unattributed

Recap

Unattributed

Series C - II

Company

Lambert & Co.

Premier Engineered Products

All Star Driver Education

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Amount

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

1

1

2

10

10

Charter Capital Partners Portfolio Exits

2 Portfolio Exits

Charter Capital Partners has 2 portfolio exits. Their latest portfolio exit was Trapelo Health on March 24, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

3/24/2021

Acquired

$99M

5

3/11/2021

Acquired

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$99M

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10

Date

3/24/2021

3/11/2021

Exit

Acquired

Acquired

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

5

10

Charter Capital Partners Acquisitions

1 Acquisition

Charter Capital Partners acquired 1 company. Their latest acquisition was Traverse City Products on March 10, 2020.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

3/10/2020

Debt

$99M

$0.68M

Acquired

2

Date

3/10/2020

Investment Stage

Debt

Companies

Valuation

$99M

Total Funding

$0.68M

Note

Acquired

Sources

2

Charter Capital Partners Fund History

7 Fund Histories

Charter Capital Partners has 7 funds, including Charter-Papa's Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

9/25/2020

Charter-Papa's Fund

$1.33M

1

2/27/2020

Charter-HN Spirits Fund

$99M

10

8/28/2019

Charter-Vestaron

$99M

10

8/5/2019

Charter Growth Capital Fund

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$99M

10

1/7/2019

Charter-ASI 2

$99M

10

Closing Date

9/25/2020

2/27/2020

8/28/2019

8/5/2019

1/7/2019

Fund

Charter-Papa's Fund

Charter-HN Spirits Fund

Charter-Vestaron

Charter Growth Capital Fund

Charter-ASI 2

Fund Type

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Status

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Amount

$1.33M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

Charter Capital Partners Team

4 Team Members

Charter Capital Partners has 4 team members, including current Chief Operating Officer, Deborah Kolar.

Name

Work History

Title

Status

Deborah Kolar

Chief Operating Officer

Current

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Name

Deborah Kolar

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Work History

Title

Chief Operating Officer

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Status

Current

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