2023 Year In Review | Kian Capital

THE BEST IS YET TO COME

2023 was an exciting year for Kian. We closed our third fund, Kian Growth Partners III (“KGP III”), which was oversubscribed at $400 million. Investor demand was well above the hard cap, stimulated by the strong performance of prior funds and highlighting the significant support for the firm’s investment strategy — all of which underscores our plans for the future.

We have seen incredible progress throughout the year as we worked closely with our portfolio companies and partners to ignite growth and build enduring value for all involved. We deepened our roster and fostered internal growth while recognizing the achievements of our hard-working team.

As we reflect on the past year, it prompts a moment of contemplation and appreciation. We extend our profound gratitude to our dedicated team, the hard-working portfolio management teams, discerning investors and steadfast partners. Their unwavering commitment and tireless effort have been the cornerstone of our collective success.

PORTFOLIO HIGHLIGHTS

In 2023, we invested in two new platform companies and added to our current portfolio with 17 new add-on investments. Here are some portfolio highlights:

TEAM AIR INVESTMENT

The inaugural investment from its recently announced $400 million third fund continued to underscore Kian’s commitment to providing first institutional capital to growth-oriented founders.

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T SPORTLINE AWARD RECOGNITION

Named one of the 40 fastest-growing companies in Georgia. Since Kian’s investment two years ago and under CEO Brian Reese’s leadership, the company has experienced tremendous growth.

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PARC AUTO PLATFORM LAUNCH

Kian announced the acquisition of a leading Meineke Car Care Center franchisee in partnership with management to establish a new platform in the general automotive repair space called PARC Auto.

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At Team Air, we’ve always been committed to being the best partner possible to each and every customer. When the search began to find the best possible partner for Team Air, it was of vital importance to find one with the same values, commitment to excellence and willingness to help us achieve our goals to expand into new geographies and take advantage of opportunities as quickly as possible. From the moment we met the team at Kian, it was obvious that they believed in backing the business as well as the people who make it happen every day. They are 100% focused on supporting my vision for growth, and I am confident that they can provide the resources, support, expertise and relationships to help us build an acquisition program coupled with our vision for organic growth that will make Team Air the #1 distributor in the Southeast.

Jeff Wallace

President and CEO, Team Air Distributing

SPATCO PLATFORM EXPANDS

The company completed six add-ons in 2023, including McKinney Petroleum Equipment, Petro Supply, MSCS, K&K Electric and Stanton Electric.

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THE PURPLE GUYS EXPANDS

Adding on four Texas-based leading MSPs built density and expanded capabilities across key Texas and Missouri markets.

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TEAM AIR PLATFORM EXPANDS

Recognized for its exceptional performance, Team Air was awarded significant territory expansion from key OEM partner American Standard.

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FIRM HIGHLIGHTS

As the firm has experienced incredible growth over the past year, we’ve deepened our bench and fortified our team to fully support our portfolio companies with the resources and experience needed to realize their aspirations.

INVESTMENT CRITERIA

We deploy flexible and creative capital that aligns with our philosophy of creating relationships where everyone wins. With a focus on lower middle-market opportunities, we think in terms of what is right for each situation and can offer equity and mezzanine debt in structures that offer innovative solutions to each company with which we partner.