Plexus Fund I, managed by Plexus Capital, is a mezzanine fund established in 2005 and based in Charlotte, North Carolina. The fund primarily targets mid-market companies in the United States, focusing on growth capital, recapitalization, and management buyouts. It typically invests between $5 million and $40 million in businesses with revenues ranging from $150 million and EBITDA of $2 million to $15 million. Plexus Fund I is interested in various sectors, including manufacturing, healthcare, information technology, and commercial services, providing essential capital to businesses seeking to expand, transition ownership, or pursue strategic acquisitions.
Co-Founder and Investment Committee Member and Partner
Rob Lovejoy
Vice President
Chap Michie
Associate
Bob Miller
Operating Partner
Michael Painter
Managing Partner
Ronda Penn
CFO
Alex Plexico
Associate
Kevin Speight
Vice President
Don Stockton
Operating Partner
Mark Vavolizza
Vice President
Katie Walker
Principal
Ian Wooley
Vice President
10 past transactions
Riggs Tree Service
Venture Round in 2023
Riggs Tree Service, based in Grove, Oklahoma, specializes in tree maintenance services, catering to both commercial and residential clients. The company utilizes a range of equipment, including manual climbing tools, bucket trucks, and chippers, to offer comprehensive tree trimming and vegetation management solutions. Their services include aerial lift crews for efficient tree trimming, as well as manual climbing crews for more specialized tasks. Additionally, Riggs Tree Service employs herbicides for effective control of unwanted vegetation, ensuring long-term maintenance and health of landscapes. The combination of advanced machinery and skilled personnel allows Riggs Tree Service to meet diverse client needs in tree care and management.
Natural Upcycling
Private Equity Round in 2022
Natural Upcycling is a food waste collection company that specializes in recycling organic waste and converting it into renewable resources. The company offers comprehensive food waste recycling services, providing the necessary infrastructure and technology to collect various volumes of food waste. In addition to organic waste, Natural Upcycling also facilitates the recycling or upcycling of materials such as aluminum, shrink wrap, cardboard, glass packaging, and pallets. By offering customized zero food waste services, the company aims to keep waste out of landfills and promote sustainable practices among its customers.
Asset Class
Series A in 2022
Asset Class is a financial technology company that specializes in developing innovative investment management software tailored for various sectors, including private equity, venture capital, financial advisory, and commercial lending. The firm’s software solutions encompass a wide range of functionalities such as salesforce management, customer relationship management (CRM), investment banking support, and business intelligence tools. By offering features like workflow automation and document management, Asset Class aims to streamline financial operations and help clients identify growth opportunities.
Advanced Drying Systems
Venture Round in 2019
Advanced Drying Systems, LLC, established in 2009 and located in Tampa, Florida, specializes in water damage restoration services. The company offers a comprehensive range of solutions, including water removal, dehumidification, and mold remediation. Catering to homeowners, municipalities, and educational institutions, Advanced Drying Systems focuses on loss mitigation to assist clients in recovering from water damage events effectively.
Allegiance Software
Venture Round in 2017
Allegiance Software, Inc. is a developer of database management software and cloud solutions specifically tailored for public and religious broadcasters. Founded in 1999 and based in Fargo, North Dakota, the company creates software for various functions including fundraising, volunteer management, auction handling, radio traffic management, and billing applications. Its offerings encompass customer relationship management (CRM) software, on-air drives, sustainer program reports, web-based forms, and comprehensive payment processing services. Allegiance also provides data analysis, database repair, segmentation, and portal setup services, alongside training and support through onsite, phone, and virtual sessions. The company has a history of evolving its technology, transitioning from older systems to modern platforms, and developing mobile applications, all driven by user feedback to enhance fundraising practices for its clientele of radio and television stations.
Medicus IT
Venture Round in 2017
Medicus IT specializes in managed medical IT solutions tailored for the healthcare sector, focusing on enhancing operational efficiency and stability. The company offers a comprehensive suite of services, including managed security, cloud solutions, and disaster recovery, ensuring that healthcare organizations receive reliable technology support. Their innovative "stoplight reviews" are particularly valued by clients, as they facilitate better education and planning for infrastructure changes and upgrades. By providing these integrated services, Medicus IT aims to help healthcare providers operate securely and seamlessly.
Food Evolution
Venture Round in 2014
Food Evolution is a dedicated commissary that specializes in custom food production services. The company offers co-packing solutions and seasonal meal options, such as holiday side dishes and sports snacks, catering to clients during peak demand periods. With a flexible and skilled team, Food Evolution can handle both small and large orders, ensuring the delivery of fresh, high-quality products tailored to specific client requirements. They are committed to innovation, providing creative solutions to meet diverse food production needs.
Fusion Connect
Post in 2014
Fusion Connect, Inc. is a managed communication service provider based in Atlanta, Georgia, specializing in integrated cloud solutions for businesses of all sizes. Founded in 1997, the company offers a proprietary service platform that combines various cloud services, including voice communications, unified communications, contact center solutions, connectivity, cloud computing, storage, and security. Fusion Connect tailors its services to meet the specific needs of its clients, which range from associations and government entities to contact centers and industries such as healthcare and legal. The company is committed to delivering highly available services and backs its offerings with a comprehensive service guarantee, ensuring timely installation and high availability for its clients.
Atchafalaya Measurement
Acquisition in 2013
Atchafalaya Measurement, Inc. is a company specializing in gas and liquid measurement solutions. Founded in 1982 and headquartered in Scott, Louisiana, with additional locations in Texas, Atchafalaya Measurement provides a comprehensive range of products, including turbine meters, analytical instruments, electronic flow meters, and various measurement components. The company also offers services such as gas and liquid measurement, meter run cleaning and repair, and data processing. With a focus on the oil and gas sector, Atchafalaya Measurement delivers customized equipment and analytical products to meet the needs of its clients. As of January 2019, it operates as a subsidiary of Southern Petroleum Laboratories, Inc.
Jacob Ash
Acquisition in 2011
Jacob Ash Holdings, Inc. specializes in the design, manufacture, and distribution of gloves, headwear, and accessories for the consumer retail sector. The company offers a wide range of seasonal apparel, including hunting gloves, backpacks, and fishing vests, as well as various types of gloves such as deerskin, elk skin, and ski gloves. Jacob Ash also provides casual apparel accessories and rainwear. Its products are marketed through sales representatives and authorized online retailers primarily in the United States. Founded in 1930, Jacob Ash is headquartered in Pittsburgh, Pennsylvania, with additional offices in New York City and Montreal, Canada.
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