Transactions

Alleghany Forms Piedmont, Makes First Acquisition

Alleghany Capital has formed Piedmont Manufacturing Group to acquire Wilbert Plastic Services (WPS). WPS is a provider of injection molded and thermoformed parts and multi-component assemblies used by original equipment manufacturers in the industrial, commercial, transportation, recreational, and medical industries. WPS’ additional capabilities include design and engineering, painting, robotic trimming, logistics, and inventory management. WPS,…

Novacap Acquires Interest in Globe Electric Company

Novacap has acquired a majority interest in Globe Electric Company. Fonds de solidarité FTQ and Fondaction co-invested on this transaction in partnership with Novacap. Globe Electric is a designer and manufacturer of consumer lighting and other electrical products including light fixtures, power and charging products, and connected home technologies. Globe’s products are sold through more…

Right Down the Middle, KPS Exits TaylorMade

KPS Capital Partners has agreed to sell TaylorMade Golf Company to Centroid Investment Partners for $1.6 billion, the largest-ever acquisition in the golfing equipment industry. TaylorMade is a designer and manufacturer of golf equipment including drivers, fairway woods, hybrids, irons, wedges, golf balls, bags, and accessories. The Carlsbad, California-based company has a #1 or #2…

New Water Sells Custom Made Meals to Stellex

After a four-year hold, New Water Capital has sold Custom Made Meals to Stellex Capital Management. In April 2017, New Water acquired sister companies Custom Made Meals, a manufacturer of oven-ready entrees and appetizers, and Custom Corned Beef, a manufacturer of raw and cooked meats (together CMM). Today, CMM is a producer of branded and…

Elliott Buys Paper Source, Sees Synergy with Barnes & Noble

Elliott Investment Management has agreed to acquire the assets and business operations of Paper Source, a stationery and gift retailer. Paper Source’s products include fine stationery, gifts, crafts, party supplies, gift wrap, and greeting cards. The company’s products are sold through approximately 130 retail stores across the U.S. and through its e-commerce website and wholesale…

Align’s Air Testing Platform Closes Tenth Add-On

 Alliance Technical Group (ATQ), an environmental testing and compliance platform of Align Capital Partners, has acquired Air Quality Services. Air Quality Services (AQS) provides air-related environmental services including source emissions testing, stack monitoring (also called CEMS for continuous emission monitoring systems), consulting and permitting, stack testing, ambient air monitoring, and air pollution dispersion modeling. AQS…

News

Deerpath Closes Fifth Fund

Deerpath Closes Fifth Fund

Deerpath Capital Management has closed its oversubscribed fifth fund with $1.1 billion of capital commitments. Limited partners in the new senior debt-focused fund include institutional investors in Australia, Canada, Germany,…

Artemis Adds Two Associates

Artemis Adds Two Associates

Boston-based private equity firm Artemis has added two associates to its team with the hirings of Taylor Murphy and Nick Reyes. Both Ms. Murphy and Mr. Reyes are active with…

Audax Private Debt Banks New $1.8 Billion

Audax Private Debt Banks New $1.8 Billion

Audax Private Debt has closed Audax Mezzanine Fund V LP with just over $1.8 billion in capital commitments. According to Audax, the new fund was significantly oversubscribed and closed above…

Rest of 2021 to See More Deals, Higher Prices

Rest of 2021 to See More Deals, Higher Prices

According to the latest report from BDO, private equity and venture capital fund managers are expecting the rest of 2021 to be awash with M&A activity and heavy competition. The…

AUA Beats Fund II Target

AUA Beats Fund II Target

AUA Private Equity Partners has held a final and oversubscribed closing of AUA Private Equity Fund II LP with total capital commitments of $310 million. AUA’s new fund beat its…

New Fund for New State

New Fund for New State

New State Capital Partners has closed its third institutional investment fund, New State Capital Partners Fund III LP (Fund III), with $450 million of committed capital. New State’s newest fund…

Northlane Beats Target

Northlane Beats Target

Middle market private equity firm Northlane Capital Partners has held an above-target close of Northlane Capital Partners II LP (NCP II) with total capital commitments of $408 million. Northlane invests…

New Platform

Spartech Switches Sponsors

Spartech Switches Sponsors

The Jordan Company (TJC) has acquired Spartech, a manufacturer of acrylics and extruded plastics and a portfolio company of Nautic Partners. Spartech’s acrylic products, plastic sheet and rollstock,…

Butterfly’s Latest Buy is Eggscelent

Butterfly’s Latest Buy is Eggscelent

Butterfly Equity has acquired Pete and Gerry’s Organics, a producer of free-range and pasture-raised eggs. Pete and Gerry’s dates to the late 1800’s when it operated as a…

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