CHICAGO—The ongoing revival of manufacturing and the rise ofnext-day delivery has given a big boost to the US industrialmarket, and investors have also picked up the pace. SitexGroup, a Chicago-based private equity firm thatspecializes in industrial investments, for example, has justlaunched its eighth fund and plans to triple its footprint in justthe next two years.
“Our eighth fund is five times the size of our seventh,”Cary Goldman, a Sitex principal, tellsGlobeSt.com. It's a long way from 2001, when he and DavidFriedman helped found the firm “without much more than anitch to start an acquisitions firm.”
And Sitex has now started to spread its wings across the entirecountry. As reported in GlobeSt.com, it just opened an office in Manhattan Beach, CA, its third andthe first on the West Coast. It also has an office in New York andhas become one of the largest industrial buyers in New Jersey. Tolead the California operations, the firm has hired EricRuehle, a local veteran, as senior vice president.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
