From Pulse 2.0 · Amit Chowdhry · · 40s
GenNx360 Closes $285M Fund For Whitsons
GenNx360 Capital Partners secures $285 million continuation fund for Whitsons Culinary Group to expand operations.
In brief
GenNx360 Capital Partners secures $285 million continuation fund for Whitsons Culinary Group to expand operations. GenNx360 Capital Partners closed a $285 million continuation fund for Whitsons Culinary Group to support its growth across 17 states and new markets. Originally reported by Pulse 2.0.
Fund Closure
GenNx360 Capital Partners closed a $285 million continuation fund for Whitsons Culinary Group.
Growth Expansion
Whitsons tripled its business, expanding from seven to 17 states and entering new markets.
Acquisitions and Strategy
GenNx360 completed eight accretive acquisitions and plans further expansion through a second ownership period.
“Rishi Verma, Partner At GenNx360 Capital Partners: 'During GenNx360’s ownership, Whitsons has increased its onsite dining presence from seven to 17 states and expanded its end market presence into residential healthcare, co-manufacturing, and food service and transportation. We have made eight accretive acquisitions, and we see tremendous opportunity to continue growing the business during our second hold.'”
Investor Roles
Churchill Asset Management acts as lender and lead investor for the continuation fund.
“Nick Lawler, Managing Director And Head Of Secondaries At Churchill Asset Management: 'We are thrilled to continue supporting Whitsons as both a lender and the lead investor in the continuation vehicle.'”
The key point
GenNx360 Capital Partners closed a $285 million continuation fund for Whitsons Culinary Group to support its growth across 17 states and new markets.
