Cortec Group is an American
private equity
Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the co ...
firm founded in 1984 and based in
New York City
New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...
. The firm specializes in investing in middle-market companies, primarily focusing on healthcare, consumer products, value-added distribution, and specialty services sectors in the United States and Canada.
[Cortec Group - Pitchbook](_blank)
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Investment strategy
Cortec targets middle-market, entrepreneur-owned companies, partnering with their management teams to enhance growth, profitability, and operational efficiency. Since its establishment, Cortec has raised eight institutional funds totaling over $7.7 billion in capital commitments.
Fundraising and performance
In 2019, Cortec Group successfully closed its seventh fund, Cortec Fund VII, raising $2.1 billion within two months of initiating fundraising.As of 2023, Cortec aimed to raise $2.5 billion for its eighth fund.[Cortec Group seeks $2.5bn for flagship fund – Buyouts Insider](_blank)
/ref> According to third-party performance data, Cortec consistently ranks within the top quartile or decile among similar private equity funds.
A noteworthy success for Cortec was its investment in YETI Holdings
YETI Holdings, Inc. is an American brand of outdoor recreation products, headquartered in Austin, Texas, specializing in outdoor products such as ice chests, vacuum-insulated stainless-steel drinkware, soft coolers, dry bags, and related access ...
, reportedly returning over 26 times invested capital to limited partners.
History
Cortec Group was founded in 1984 by Scott Schafler, Gerald Rosenberg, and Neal Kayes. Schafler was the son of Norman I. Schafler, the founder of Condec Corporation, originally Consolidated Diesel Electric Company, an industrial conglomerate founded in 1942.[Norman Ira Schafler obituary – New York Times, August 2, 1986](_blank)
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Since 1999, the firm was co-led by Scott Schafler, David Schnadig, and Jeff Lipsitz. After raising Fund VII in 2019, Schafler transitioned to the role of Founding Partner, and the firm is currently led by Co-Presidents David Schnadig and Jeffrey Lipsitz.
In March 2025, Cortec was recognized as a top performer in the 2024 HEC Paris Dow Jones Private Equity Performance Ranking for the third consecutive year.
Assets
* Cortec VII:
** Groundworks
** Enthusiast Auto Holdings
* Cortec VI:
** Center for Vein Restoration
** Chauvet
** EVP EyeCare
** Groome Transportation
** Window Nation
** Aspen Medical Products
** Rotating Machinery Services
** Companion Pet Partners
** Lap of Love Veterinary Hospice
* Cortec V:
** YETI
The Yeti ()["Yeti"](_blank)
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** Harmar
** Barcodes Inc.
** Canadian Hospital Specialties
** Weiman Products
** Vidaris
** Urnex
** Community Veterinary Partners
External links
Official website
References
{{Portal bar, Companies
Private equity firms of the United States
Financial services companies established in 1984
Companies based in New York City