Plexus Named Nation’s SBIC Of The Year
Plexus Capital, which specializes in providing growth capital to lower middle market businesses across the nation, has been named the U.S. Small Business Investment Company (SBIC) of the Year for 2013. In announcing that Plexus is the top SBIC of more than 300 in the nation, Small Business Administration (SBA) Administrator Karen Mills cited “Plexus Capital’s hard work, innovative ideas and dedication.” Plexus Capital will receive the SBIC of the Year Award June 21 during the 50th Anniversary of National Small Business Week. The North Carolina-based firm has just completed raising $150 million in private capital from its long standing limited partners. Pending final SBA approval, this private capital will be combined with leverage from the SBA in the same amount to create Plexus Fund III, with total available investment capital of $300 million. Plexus invests across a broad range of industries and typically in privately-held, lower middle market businesses across the United States. Plexus Capital meets strict SBA licensing criteria in order to provide subordinated debt and equity capital as an SBIC serving small businesses across the nation.
“Being named the nation’s Small Business Investment Company of 2013 speaks to the value we are providing to our investors and small businesses across the country,” said Plexus Capital Managing Partner Bob Anders. “Plexus is distinguished by our focus on relationships, our determination to create access to growth capital for U.S. middle market businesses, and our proven ability to continue to earn the confidence of our investors. With investments in more than 50 businesses, and experience managing through all economic cycles, we have proven ourselves to be patient investors with the experience it takes to succeed.” The SBA selected Plexus Capital for the honor based on its award criteria which included portfolio company revenue and employment growth, strong commitment to overall business growth, management of portfolio companies, and participation in the small business community.
The Small Business Investment Company (SBIC) program, administered by the U.S. Small Business Administration (SBA), is a private-public partnership created in 1958 to fill the gap between the availability of growth capital and the needs of small businesses. The SBA’s Investment Division licenses qualified private equity fund managers and provides them with access to low-cost, government-guaranteed capital to make investments in U.S. small businesses. (see http://www.sba.gov/content/faqs)