The Carlson family, who own the travel group Carlson, have set up an investment office.
Based in Minnetonka, just outside of Minneapolis, Carlson Private Capital Partners will target middle-market investments. The investment group has hired Andrew Cantwell, a former partner of a local private equity group, to head the business.
Carlson Private Capital Partners said in a statement: “Our firm is inherently distinctive. Our patient and flexible capital offers significant advantages over traditional, institutional private equity firms without sacrificing any of the speed, sophistication or access to resource.”
The group’s investment strategy will be to target select control, co-investment and minority positions in entrepreneurial or family-owned businesses with enterprise values up to $500 million. “Through a committed investment platform, the firm will target businesses from $5-$50 million in EBITDA and equity investments from $20 to $100 million. CPC Partners will also consider larger investments and partnerships with other family investment firms,” the group said.
The Carlson travel business owns one of the biggest hotel groups in the world with a portfolio of more than 1,300 properties, which include the Radisson and Country Inn & Suites brands. Privately owned Carlson makes revenues of more than $22 billion annually.
Also based in Minnetonka, Carlson is now owned and controlled by members of the second and third generation of the Carlson family. Diana L. Nelson, the granddaughter of the founder, Curt Carlson, is the chair of the family business.