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Tags: aztec, MALDEF, Univision
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“On the heels of the success of its $100 million Nogales Fund I, Los Angeles-based private equity firm Nogales Investors Management, LLC (www.nogalesinvestors.com) has raised Nogales Fund II, a $245 million fund designed to make investments ranging from $10 million to $30 million in middle market companies.
The company’s business strategy is to invest in middle market companies in attractive, yet underserved markets. Investment candidates for Nogales Fund II include private or publicly-held companies headquartered or doing business within the United States, and whose management teams are partnership-oriented, highly incented and growth-oriented. Industry sectors of particular interest include retail, financial services, energy, manufacturing, media and communications and transportation.
The fund will also take advantage of its founder’s unique understanding of the Latino consumer market by identifying companies poised for growth, including firms that are either Latino-owned or target the Latino market. Understanding the Latino marketplace is a unique attribute of Nogales Investors. Founder Luis Nogales, served as the president of the Univision broadcast network, and served in the 1980s as Chairman and CEO of United Press International. In addition to serving as Managing Partner of Nogales Investors, he is a corporate director with Edison International/Southern California Edison Company, KB Home and Arbitron Inc. He is the former Board Chairman of MALDEF, currently serves as a trustee of the J. Paul Getty Trust and is a former Trustee of Stanford University and the Ford Foundation.
The success of Nogales Fund I provided momentum for Nogales Fund II, with reinvestment support from the first fund’s limited partners.
Nogales Fund I investments included:
– G.I. Joe’s - The Sports and Auto Store: an $11.5 million investment in G.I. Joe’s, a leading sporting goods and auto aftermarket retailer in the U.S. The proceeds from the investment were used to redeem outstanding preferred stock and provide working capital for the Company’s continued store expansion. In February 2007, G.I. Joe’s was acquired by Gryphon Investors. Nogales’ subordinated note was repaid in full and its warrant position redeemed.
– Graphic Press: a $9.0 million investment in Graphic Press, one of the premier commercial printers in the U.S. The proceeds from the investment were used to recapitalize the company’s balance sheet and provide working capital to position the company for future growth.
– Video King - a $10.0 million equity investment in VKGS, LLC (dba “Video King”), a manufacturer of electronic bingo gaming systems. The investment facilitated Video King’s spin-off from its parent company, BK Entertainment, Inc.
Nogales Fund II partners include Luis Nogales, Mark Mickelson and Steve Sebastian. Mark Mickelson has been a private equity investor for over 15 years and has sponsored investments in numerous middle market companies in a variety of industries. He is currently a board member of Graphic Press, Alfa Leisure, Chick’s Sporting Goods and Video King. He has previously served on boards and operating committees for G.I. Joe’s, The Jon Douglas Real Estate Services Group, Media Arts Group, Allied Equipment Rentals and SeaWest Financial.
Steve Sebastian joined Nogales in July 2007. He has more than 20 years experience as both a principal and an agent, across multiple industries. Previously, Steve Sebastian was a Partner of Westar Capital, investing in and overseeing portfolio of Western middle market companies. He achieved partner-level position at several investment banks, including Bear Stearns (Senior Managing Director), Chanin Capital/Duff & Phelps (Managing Director and Group Co-Head) and BT Securities/Deutsche Bank (Managing Director). He has also served on the Board of Directors of seven portfolio and public companies.
Nogales Partners also includes a senior advisory board of highly-skilled professionals actively involved in multiple aspects of the investment process. This board includes Robert Smith, former CEO of Security Pacific Bank; Matt Fong, former Treasurer of California; Bruce Llewellyn, CEO, Philadelphia, Coca-Cola Bottling; Arthur Velasquez, CEO, Azteca Corn Products Corp.; and Roy Doumani, former partner with W.E. Simon Private Equity.
About Nogales Investors
Nogales Investors Management LLC is a private equity investment firm based in Los Angeles that manages capital for some of the largest institutional investors in the world. The goal of the company’s funds is to generate superior investment returns while at all times maintaining the highest levels of fairness, integrity and professionalism. The firm aims to complete transactions that meet the needs and aspirations of all parties through a creative and flexible investment approach which results in either a control or non-control ownership position for the fund.”
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