Three experienced business executives have launched a private equity group, Boxwood Capital Partners, LLC, to focus on acquiring profitable, early-stage marketing, media, and services companies that utilize technology and the Internet to drive their business. The group combines the executive experience of Patrick Galleher, former CEO of WILink plc., the financial expertise of Bobby Morris, an investment banker and a former CFO, and the technology experience of Chris Deel, a former CTO and IT systems developer.

Ideal acquisition candidates will generate between $500,000 and $2 million in earnings annually, and operate within a market niche that can support significant U.S. and/or international growth.

"There is a clear need for capital, managerial resources, and strategic leadership in this segment of the market," says Morris. "We are essentially bridging the gap between traditional private equity investing, which generally targets larger companies, and local individual investors, for whom transactions of this size and characteristic are often difficult to finance, especially in today's credit environment."

Boxwood Capital Partners' location in Richmond also helps fill a void in the local market for private equity. "Our area has many attributes that make it ideal for growing, entrepreneurial companies, including a well-educated workforce, a solid business services and government infrastructure, a moderate cost of living, and an ideal geographic location," says Galleher. "But if you look at Richmond compared to other cities in the Southeast, such as Charlotte, Atlanta and Raleigh, it does not offer many options for companies seeking private capital. We intend to change that."

Boxwood Capital Partners expects to close its first portfolio investment, an online wholesaling company, in June of this year, and has started fund raising for its first dedicated investment fund, targeting $15-20 million. Read more.