Heritage Holding Closes Inaugural Fund with Support from Institutional Capital

Fundraising Target Met in Four Months with $220 Million in Committed Capital

Strong Interest from Institutional, High-Net-Worth and Existing Investors

BOSTON, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Heritage Holding (“Heritage” or “the Company”), a Boston-based private equity firm focused on advancing its successful record of partnering with small business owners and founders, today announced the successful close of its first, institutionally-backed Fund I (the “Fund”) with total committed capital of $220 million. The fundraise was completed in four months and was oversubscribed with commitments from leading institutional investors, high-net-worth individuals and existing investors.

Heritage was founded in 2015 by Harvard Business School classmates and former co-CEOs of Maicom, Alex de Pfyffer and Ross Porter. Since inception, the Company has established itself as a leader in acquiring and growing small businesses across the services sector, working closely with owners and founders through operational improvements and M&A to build their companies into industry leaders. The Company’s dedicated investment team is highly experienced in sourcing acquisitions and strives to unlock overlooked opportunities in the small business world. Heritage’s history and forward ambition is to partner with successful business owners in providing private equity capital for M&A and sales growth, software implementation and, when desirable, enabling sellers to transition out of their companies over time.

“Our goal is to focus on five platforms in industries that are on our shortlist and to scale those platforms quickly,” said Ross Porter, Heritage Holding Co-Founder. “Operational bandwidth and focused resources for growth are scarce in the small business ecosystem, which gives Heritage a unique opportunity to identify attractive founder led businesses across a variety of critical industries and build high performing and sustainable companies that can drive attractive outcomes for all stakeholders.”

“Ross and I are extremely proud of the firm we have built, and we are grateful for the continued support of our investors, advisors and for the hard work of the HH team,” said Alex de Pfyffer, Heritage Holding Co-Founder. “With strong support from a world-class team of investors, the closing of this fund allows us to continue partnering with small business owners, founders and entrepreneurs to successfully grow their businesses and build leading platforms to better serve customers.”

Small businesses often face unique operational challenges. The Heritage team recognizes and supports these challenges by taking on essential operations roles in the businesses in which the Company invests. In addition to Heritage’s strong operational involvement, the firm differentiates its value creation strategy by enhancing systems and software, focusing on driving new sales growth and enabling rapid and sustainable scaling through mergers and acquisitions.

“Heritage did what they said they were going to do, they took care of my team, they tripled my business in size, expanded to the West Coast, and we opened a new successful operation in Canada. They are skilled executives and business operators, but above all they are trustworthy and honest good people,” said Paul Maiuri, former owner of Maicom.

Heritage invests across the business services, healthcare, technology, telecom & IT services, industrial services and special situations industries. Since its founding, Heritage has completed over 25 acquisitions across eight platform companies.

About Heritage Holding

Heritage Holding is a micro-cap private equity firm that partners with small business owners and founders to build great companies by driving growth, increasing scale, diversifying service offerings and expanding businesses’ geographic footprints. Founded in 2015 by Harvard Business School classmates and former co-CEOs of Maicom, Alex de Pfyffer and Ross Porter, the firm targets companies across the business services, healthcare, technology, telecom & IT services, industrials and special situations industries where it feels it can add value through its operational expertise.

Since inception, Heritage has completed 25 acquisitions across eight platform investments and has an investment team of over 12 individuals.

Heritage is headquartered in Boston, MA and has offices in New York, NY and Raleigh, NC. For more information, please visit www.heritage-holding.com.

Contact

Dan Gagnier Gagnier Communications HeritageHolding@gagnierfc.com