FAIRFAX, Va.--(BUSINESS WIRE)--Farragut Capital Partners today announced the addition of Mr. J.C. Watts, former U.S. Congressman from Oklahoma, as Senior Partner of the firm and Senior Advisor to Farragut Mezzanine Partners III, LP, the firm's latest mezzanine investment vehicle. In addition to his eight years of service in the U.S. House of Representatives, Mr. Watts brings several years of executive business experience to the Farragut team, having built his own government and corporate relations firm, serving on numerous Fortune 500 Boards and owning interests in several private middle market U.S. companies.
In his role as Senior Advisor, Mr. Watts will provide counsel to the firm's investment principals on issues of strategic growth, corporate governance, and investor communications. He will also lend his expertise and network of relationships, particularly in the government contracting, security, media & telecommunications, and energy industries, to the investment team, specifically in support of deal flow generation and portfolio monitoring. Finally, Mr. Watts will support the firm's marketing and fundraising efforts.
Philip A. McNeill, Farragut Capital Partner's Managing Partner, said: "J.C. Watts is an experienced and well-respected business leader. We are honored that he has chosen to join Farragut Capital Partners as we continue to build our team. We believe we will be able to leverage the investment platform and team we are building today for years to come."
Mr. Watts added: “I am delighted to join the Farragut team. I have analyzed several platforms and investment teams over the last year or so and I’m convinced Farragut is the right mix of talented investment professionals, deep experience and disciplined investment approach.”
Founded by industry veterans Philip A. McNeill, Javier E. Aguirre, and G. Cabell Williams, III, Farragut Capital Partners makes mezzanine investments (senior subordinated debt and preferred equity) in lower-middle market private U.S. companies. Currently, Messrs. McNeill and Aguirre manage the SPP Mezzanine family of funds, and have done so since 2003. Previously, between 1998 and 2002, Messrs. McNeill and Williams were co-heads of Allied Capital Corporation's Private Finance Group with oversight of approximately 20 investment professionals and a $1.5 billion portfolio of mezzanine investments.
The firm declined to comment, but has been issued a “green-light letter” by the Small Business Administration (“SBA”) to seek a SBIC license.
About Farragut Capital Partners
Formed in 2011, Farragut Capital Partners, LLC is a privately-held investment management firm providing mezzanine debt and equity capital to finance leveraged and management buy-outs, generational transfers, growth capital financings, and recapitalizations. We seek to invest in established small and middle market companies with proven business models and stable cash flows. We target companies with strong, committed management teams and the potential for significant growth in equity value over time. By targeting the lower-middle markets, we aim to fill the void left as many traditional commercial finance lenders have left or outgrown that segment of the market, resulting in a capital shortage for strong and growing companies.
Our principals have a combined 55+ years of dedicated lower-middle market mezzanine investing experience. Over that time, we have deployed approximately $900 million across 90+ investments. We specialize in asset-light businesses with unique and defensible market positions, stable business models, and reasonable capital expenditure and working capital needs. Favored market segments include light and niche manufacturing, business services, distribution & logistics, and media. We work with owners (family businesses, equity sponsors, fundless sponsors), senior lenders, and directly with management teams to create and build value in our portfolio companies over time.
More information about the firm can be found at www.farragutcapitalpartners.com.