Monday, March 3, 2014

Succession Capital Partners opens Virginia office

Charlotte-based private equity firm Succession Capital Partners said Monday that it has opened an office in Norfolk, Va.

“With a lack of comparable services in the Virginia market, this expansion offers significant growth opportunities for SCP," Matt Malone, the company's managing partner, said in a statement.

Succession Capital Partners was founded in 2009. The firm provides money to buy out so-called microcap companies or to help them grow. Such companies have low capitalizations -- the total value of the company's stock. Such stocks usually trade in low volumes and are low-priced.

Succession Capital Partners also provides capital advisory and consulting services to small businesses. Its focus is on the Mid-Atlantic and Southeast. The Charlotte office is at 212 S. Tryon St.

Malone is a former managing director for Dallas-based Hunt Private Equity Group. He helped that company open an office in Charlotte in 2006.