to become Irving Place Capital. As an independent firm, Irving Place Capital began focusing on its core strengths in industrial, packaging, consumer, and retail businesses, completing seven additional investments in those verticals for its third fund, and also making several exits. In 2014, with several of the third fund's investments needing extra time, Irving Place Capital sought a mechanism to provide liquidity to those limited partners in its third fund desiring it, while also providing those limited partners interested in participating in future value to do so. As a result, in July 2015, Irving Place Capital closed on a new vehicle, Irving Place Capital Partners III SPV, LP, with $1.5 billion in capital commitments. During the same period, Phil Carpenter joined John Howard in managing the firm as Co-Managing Partners. 2015-Present Since the closing of the new fund, Irving Place Capital has purchased three additional portfolio companies - Ohio Transmission Corporation, a technical distributor of industrial products and provider of related services, Dynojet Research, a manufacturer of aftermarket performance-enhancing parts and accessories as well as diagnostic equipment for powersports vehicles, and Coker Tire, a manufacturer of vintage-style tires for collector automobiles. In addition, it has made several add-on acquisitions to its portfolio companies, including add-on acquisitions for Alpha Packaging, Ohio Transmission, Pet Supplies Plus, and Universal Hospital Services. The firm has also exited several portfolio companies during this period. In March 2017, the firm sold its investment in Cabi Holdings, a direct seller of women's apparel in the United States, Canada and the United Kingdom to Sentinel Capital Partners. In March 2017, it announced its sale of National Surgical Hospitals to Surgery Partners, a transaction which closed in August of that year. In May 2017, it agreed to sell Chromalox, a thermal technology company, to Spirax-Sarco Engineering plc, a transaction which closed in July of that year. References External links Investment banking private equity groups Investment companies based in New York City Private equity firms of the United States Companies based in Manhattan Privately held companies based in New York City JPMorgan Chase Bear Stearns Financial services companies established in 1997 1997 establishments in New York City American companies established in 1997