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Westward Partners Successfully Closes Westward Partners Fund I, L.P.

SEATTLE, February 19, 2019 – Westward Partners LLC (“Westward” or the “Firm”), a leading lower middle market private equity firm based in Seattle, WA, is pleased to announce the completion of Westward Partners Fund I, L.P. (“Westward Fund I”) with Glendower Capital (“Glendower”), a blue-chip institutional investor headquartered in London, UK. Glendower is the sole limited partner in Westward Fund I.


The three initial businesses acquired by Westward Fund I include:


- OSW Equipment & Repair, LLC - one of the largest and fastest growing truck body and trailer manufacturers and assemblers on the West Coast


- Undisclosed Stormwater Management Company – one of the largest designers and installers of stormwater detention vaults in the Northwest United States


- Curtis Industrial, Ltd. - diversified industrial services company providing maintenance services to the steel, agriculture, and recycling industries in Canada


All three businesses are owned by the Westward Fund I and will continue to be managed by Westward as the general partner.


Westward was founded by Andy Baldridge and Erik Tolzmann in 2010. Both founders are highly experienced investors in lower middle market businesses in Northwest North America. Since inception, the Firm has acquired 18 companies and generated industry-leading returns for its portfolio of companies through active operational management, growth-oriented capital investment, and strategic bolt-on acquisitions.


”Westward was thrilled with the guidance provided by Abhi Mitra and the entire Lazard team, who led the transaction. The Firm feels that Glendower is the ideal capital partner to usher in a new phase of growth for the Westward portfolio of companies,” explained Westward Co-Founder, Erik Tolzmann. Westward Co-Founder, Andy Baldridge added, “As one of a very few locally-based equity capital providers to lower middle market businesses in the Northwest, we see unprecedented investment opportunity going forward. The closing of ‘Westward Fund I’ with Glendower further enables us to continue to build upon our portfolio of long-tenured, well-managed, high-growth companies.”


Westward was advised by Lazard’s Private Capital Advisory team. Westward received legal representation from DLA Piper and Karr Tuttle Campbell. Glendower Capital was advised by Debevoise & Plimpton LLP.

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