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Private equity firm moves operations to Boise, raises $250-million, scoops up household name

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Idaho Business pres. by My 102.7

A private equity firm recently moved part of its HQ to Boise, closed a major round of funding – and scooped up a household name.

Part of the team behind Teleo Capital set up in shop in Boise, and in October purchased mcaap and tech company Rand McNally.

The moves are part of a new $250 million private equity fund that Teleo will operate from its new offices in Boise. It announced it closed on the significant round of financing earlier this week.

Boise connection – and location

“We’re excited,” Telo Vice President Brian Wilmer told BoiseDev. “We’ve got a great team of partners that are investors in this fund that believe in what we are doing and how we are going to grow.”

One of the company’s founding partners, Robb Warick, formerly served as chief financial officer for Micron Computers Inc., the one-time personal computer company spun out from Micron Technology. He played basketball for Northwest Nazarene College and attended Borah High School in Boise where he played basketball and tennis.

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Robb began to build out the office up there,” Wilmer said. “(Partner) George Kase moved up there also. In Boise, we have a big piece of our operations, including back office and operations, and Robb is leading what we are really building out there.”

[Albertsons exec joins Boise VC firm StageDotO]

Teleo’s focus

With the quarter-of-a-billion dollars in hand, Teleo will look for companies to acquire that generate between $10 million and $100 million of annual revenue according to Wilmer.

“For us we focus on the lower middle market. We look for companies that are corporate divestures – they are typically non-core to some big parent that they are looking to get rid of the assets.”

He said they also will look for special situations, like a company with cash flow, management, or corporate structure issues – or traditional founder-led startups.

While they will cast a wide net, having an Idaho operation could mean they look at locally-based companies.

[Meridian company that helps families with deaths of loved ones attracts funding, grows]

Jobs, companies likely to come

“Robb has spent his entire life in the Boise area,” Wilmer said. “We feel really drawn to have a footprint in the community. We’ll be involved both in the community and in business. We’ve got a good connection with Robb and his involvement – and hoping to get more connected to the unit and the people there.”

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The moves could mean additional jobs and operations of companies moving to the Boise Valley in coming years.

Mac Hofeditz, who participated in Teleo’s capital raise, said Idaho will be a big part of Teleo’s future.

“It’s a beautiful place – high-quality talent from Boise State and other places. You are going to be able to attract people here,” Hofeditz said. “It has a high quality of life and lower-cost labor and office space. I think it’s cool for Boise – a native done good…. and it’s will be good for the community.”

Don Day
Don is the founder and editor of BoiseDev. He is a National Edward R. Murrow Award winner and a Stanford University John S. Knight Fellow.

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