Press Release (January 15, 2011)
Cephas Capital Partners announces the formation of Cephas Capital Partners II, LP, and the recent approval by the Small Business Administration, of a license for Cephas II to operate as a Small Business Investment Company. Cephas II is also pleased to have become the first licensee approved under SBA’s new “fast track” process.
The original Cephas Capital was formed in 1997 by Clint Campbell and Jeffery Holmes, two former commercial banking executives, in conjunction with six community bank limited partners and John Mooney. Through the end of 2009 the partnership had invested more than $64 million in 43 deserving small businesses located primarily in Upstate New York. Cephas seeks to put patient mezzanine capital in the hands of quality management teams to help them grow or recapitalize their businesses, and also has been instrumental over the last 13 years in providing long-term financing for management led buy-outs. Businesses funded by Cephas employ more than 5,000 people and contribute more than $700 million annually to the economic output of the region.
Cephas II is expected to build on this successful foundation, and will continue to focus on making investments ranging between $500,000 and $3 million in the Upstate New York region. The investor group is comprised of returning limited partners Canandaigua National Bank, Tompkins Trust Company, and Five Star Bank, along with new limited partners NBT Bancorp based in Norwich, NY and Arrow Financial headquartered in Glens Falls, NY. John Mooney continues to participate as a limited partner.
The SBIC program is a private-sector led partnership with the U.S. Government which has existed since 1958. Cephas II joins more than 300 licensees operating throughout the country. Cephas Capital is headquartered at 11 Schoen Place, Pittsford, NY. For additional information please call Clint Campbell or Jeffery Holmes at 585-383-1610.