NEW FUNDS
Transom Closes Fund IV
Transom Capital Group has held a final close of Transom Capital Fund IV LP with $675 million in capital commitments. Fund IV closed above its target and initial hard cap
Godspeed Speeds to Fund III Close
Godspeed Capital Management has finalized an oversubscribed, hard-cap close of Godspeed Capital Fund III LP with $675 million in capital commitments. Godspeed initiated and completed fundraising within two months. Limited
StepStone Steps Up for Shrieve Chemical
Gemspring Capital has completed a single-asset continuation fund for Shrieve Chemical, a portfolio company under Gemspring’s ownership since December 2019. The continuation fund, which acquired Shrieve Chemical, was organized with
Nautic Partners Raises $4.5 Billion for Eleventh Fund
Nautic Partners has announced the close of its latest fund, Nautic Partners XI LP (“Fund XI”), with $4.5 billion in limited partner commitments, surpassing its initial target of $3.75 billion.
L2 Point Closes Oversubscribed Inaugural Fund
L2 Point Management has announced the closing of its first structured equity fund, L2 Point Opportunities Fund I LP (“Fund I”), with $312 million in capital, exceeding its target. Combined
Trivest Closes New Non-Control Fund
Trivest Partners has closed Trivest Growth Investment Fund III LP (TGIF III) with $730 million in total capital commitments. The fund was oversubscribed, receiving strong support from its existing investors
Corbel Closes New Lower Middle Market Fund
Corbel Capital Partners has closed Corbel Equity Partners SBIC LP (CEP III) with over $200 million in capital commitments. CEP III is one of the first licensees approved by the
Victory at Victor, Fund II Closes at Oversubscribed $310 Million
Victor Capital Partners has held a final, above target, and oversubscribed closing of Victor Capital Partners Fund II LP with $310 million of capital commitments. The fund was backed by
NEW PLATFORMS
Valante Buys American Foods to Drive Growth in Latin America
Valante Capital, the private equity arm of IDC Network, has acquired an equity stake in American Foods, a distributor of U.S. consumer goods to Latin America. Valante made the investment through its second fund, Ascend
Nautic Carves Out Specialty Tapes Division from Berry Global
Berry Global Group has entered into an agreement to sell its Specialty Tapes business to Nautic Partners for approximately $540 million. The Specialty Tapes Division (Specialty Tapes) produces over 1,500 SKUs of pressure-sensitive tapes and
Fortress Acquires Infra Pipe Solutions from Wynnchurch
Fortress Investment Group has acquired Infra Pipe Solutions (IPS) a leading manufacturer of high-density polyethylene (HDPE) pipes and structures, from Wynnchurch Capital. Wynnchurch established Infra Pipe Solutions in September 2018 after acquiring certain Canadian assets
Odyssey Carves Out Honeywell’s PPE Business for $1.3 Billion
Honeywell has agreed to sell its Personal Protective Equipment (PPE) business to Protective Industrial Products, a portfolio company of Odyssey Investment Partners, for $1.325 billion in an all-cash transaction. PIP provides a wide range of
NEWS
NEW EXITS
GenNx360 Closes Sale of ITsavvy to Xerox
GenNx360 Capital Partners has completed the sale of its portfolio company, ITsavvy, to publicly traded Xerox Holdings for $400 million. The deal includes $180 million in cash at closing and $220 million in secured promissory
AEA and Battery Ventures Sell Sensor Maker to Arcline’s DwyerOmega
AEA Investors and Battery Ventures have finalized the sale of Process Sensing Technologies (PST) to DwyerOmega, a portfolio company of Arcline Investment Management. PST is a manufacturer of instruments, analyzers, and sensors for measurement and
Arlington Sells BlueHalo to AeroVironment
Arlington Capital Partners has agreed to sell BlueHalo to publicly traded AeroVironment in an all-stock transaction valued at $4.1 billion. Upon completion, Arlington Capital will retain a significant ownership stake in the combined company. BlueHalo
NEW ADD ONS
Branford’s Lafayette Instrument Adds-On with Buy of Alzet Osmotic Pumps
Lafayette Instrument, a Branford Castle Partners portfolio company, has acquired the Alzet Osmotic Pump product line from publicly traded DURECT Corporation for $17.5 million. Alzet Osmotic Pumps are miniature, implantable devices designed for
Blue Sage’s Baker Manufacturing Carves Pump Division from A.Y. McDonald
Baker Manufacturing Company, a provider of water systems and industrial components, has acquired the pump division of A.Y. McDonald Manufacturing (McDonald Pump). Baker Manufacturing specializes in the manufacture of water well equipment, rotary
NEW FINANCINGS
Through Western Vet, TPG Twin Brook Builds Relationship with Tyree & D’Angelo
TPG Twin Brook has increased its credit facilities to Western Veterinary Partners, a Tyree & D’Angelo Partners (TDP) portfolio company since June 2019. Western Veterinary Partners (WVP) provides non-clinical support
Trinity Launches Sponsor Finance Vertical
Publicly traded Trinity Capital has formed a new sponsor finance vertical and added three new professionals to its team to staff the new strategy. Trinity Capital (NASDAQ: TRIN) is a
LongueVue Acquires Kingston Brass with Abacus Backing
LongueVue Capital (LVC) has acquired Kingston Brass, a designer and distributor of kitchen and bathroom fixtures, bathtubs, and accessories. Kingston designs and distributes water fixtures, bathtubs, kitchen and bathroom accessories,
Lineage Acquires Bellwether Media with Abacus Backing
Abacus Finance Group was the Senior Secured Credit Facilities Administrative Agent and Sole Lender for senior secured credit facilities used to back the acquisition of Bellwether Media by Lineage Capital.
Lincoln Road’s Newest Platform Corners Houston Landscaping Market
Lincoln Road has acquired Silversand Services and SLI Landscape, providers of commercial landscaping services in the Houston metropolitan area. Silversand’s and SLI’s services include landscaping, irrigation management, tree care, interior plant care and holiday decoration services. Silversand was founded in 1983 and SLI was founded in 2003. In March 2023, Lincoln Road acquired Zodega Landscaping, a Houston-headquartered provider of commercial landscape maintenance, lawn care, irrigation system management, and ancillary services to property management companies, industrial complexes, office buildings, and apartment
O2 Sponsor Finance Backs Soundcore’s Paving Platform
O2 Sponsor Finance, a division of Old Second National Bank, provided the senior bank financing to back the acquisitions by Soundcore Capital Partners of ACI Asphalt & Concrete (ACI) and ACS Asphalt Concrete Solutions (ACS). Soundcore specializes in North America-based buy-and-build investments in the lower middle market. Target companies typically have revenues up to $150 million and are active in business and outsourced services, industrial services, specialty manufacturing, and value-added distribution sectors. New York City-headquartered Soundcore formed its ACI Holdings
Abacus Backs Eureka’s Buy of Advertiser Perceptions
Eureka Equity Partners has acquired Advertiser Perceptions with senior debt and an equity co-investment from Abacus Finance. Abacus was the Senior Secured Credit Facilities Administrative Agent and Sole Lender. Advertiser Perceptions is a provider of research-based data, market intelligence, and analysis to the media, advertising, and ad tech industries. The company was founded in 2002 by Ken Pearl and Randy Cohen and is headquartered in New York City. “Abacus provided us with tremendous support early on in this transaction and
FEATURED TRANSACTIONS
One Sweet Deal! Shore’s Sweetmore Buys Sweet Eddie’s
Sweetmore Bakeries, a portfolio company of Shore Capital, has acquired Sweet Eddie’s, a wholesale manufacturer of cinnamon rolls and other baked goods. Sweetmore Bakeries was launched by Shore through the September 2019 acquisition
Arsenal’s Sealing Platform Sold to Henkel
Arsenal Capital Partners has sold its portfolio company Seal For Life Industries to publicly traded Henkel AG & Co. Seal For Life is a supplier of protective coating and sealing products that are
CW Industrial Seals the Deal with Mantaline Buy
CW Industrial Partners has acquired Mantaline Corporation, an Ohio-based extruder of plastic and rubber products. Mantaline designs, prototypes, validates, and manufactures extruded elastomeric products including seals, protectors and insulations that are used in
Trinity Hunt Establishes Coker as New Platform
Trinity Hunt Partners has acquired Coker Group, a provider of healthcare advisory services. Coker provides performance transformation, transaction advisory, and compliance consulting services to hospitals, physician groups, private equity-backed platforms, and other healthcare
Patriot Pickle Acquires First Place Foods
Patriot Pickle, a maker and distributor of pickles and a portfolio company of Swander Pace Capital, has acquired First Place Foods. First Place Foods manufactures a wide variety of fermented (shelf stable) and refrigerated pickles, relishes, and other pickled vegetables that are sold to the restaurant, foodservice, institutional, and retail markets. Third-generation family-owned First Place Foods, led by President Pat Hunn, operates manufacturing and warehousing facilities near Dallas in Garland, Texas. “For more than 15 years, First Place Foods has
SK’s Canlak Coatings Buys Ceramic Industrial Coatings
Canlak Coatings, a portfolio company of SK Capital Partners, has acquired Ceram-Traz (DBA Ceramic Industrial Coatings). Ceramic Industrial Coatings is a manufacturer of custom and proprietary water and solvent-based wood coatings as well as other coatings, adhesives, sealants and elastomers (CASE) products. Ceramic Industrial, led by CEO Rob Laubscher, was founded in 1962 and operates a 90,000-square-foot facility in Osseo, Minnesota (headquarters) and a 52,000-square-foot facility in Kansas City, Kansas. “We are tremendously excited about our future partnership with Canlak
PEOPLE ON THE MOVE
Record-Breaking Fund Close Drives Expansion at Transom Capital
Canaccord Genuity Strengthens TMMIS Group with Lance Maerov Hire
New Managing Director and Head of Investor Relations at Percheron
Cortec Gets New Partner
Flexpoint Ford Hires New Managing Director
Adam Klein Joins Paine Schwartz Partners
STRATEGIES & STUDIES
Janney Continues Acquisitive Ways with Buy of TM
Janney Montgomery Scott has agreed to acquire middle market investment bank TM Capital, a provider of M&A advisory services across the business services, industrials, healthcare, and consumer sectors. TM Capital is led by CEO James
Align Launches Independent Sponsor Strategy
Align Capital Partners (ACP) has announced the launched of a new independent sponsor-focused private equity strategy, Align Collaborate. ACP founded Align Collaborate in partnership with independent sponsor investors, Grant Kornman and Michael Kornman. Prior to
Grant Thornton: Increased Deal Volume on the Way
The latest survey from Grant Thornton reveals that private equity professionals are forecasting a rise in transaction volume, despite the uncertainty surrounding the upcoming U.S. presidential election. The survey, which polled 255 M&A professionals, found
Bain & Company: Private Equity Finds a Footing
According to Bain & Company’s 2024 Private Equity Midyear Report, the two-year long slump in global private equity looks finally to be bottoming out with the industry finding a footing from which to climb back.
Life Outside the Forties: Navigating Political Risk
If you studied corporate finance or portfolio management 20 years ago, “political risk” tended to refer to a country’s stability in government and the transparency/integrity of its capital markets. Those considerations still matter, but the
Capstone: Middle Market Participants are Optimistic for a Recovery in 2024
Capstone Partners has released its 2023 Middle Market M&A Valuations Index which shows that while equity markets largely shrugged off the rapid succession of interest rate hikes in 2023, middle market merger and acquisition valuations
Valante Buys American Foods to Drive Growth in Latin America
Valante Capital, the private equity arm of IDC Network, has acquired an equity stake in American Foods, a distributor of U.S. consumer goods to Latin
Nautic Carves Out Specialty Tapes Division from Berry Global
Berry Global Group has entered into an agreement to sell its Specialty Tapes business to Nautic Partners for approximately $540 million. The Specialty Tapes Division
Branford’s Lafayette Instrument Adds-On with Buy of Alzet Osmotic Pumps
Lafayette Instrument, a Branford Castle Partners portfolio company, has acquired the Alzet Osmotic Pump product line from publicly traded DURECT Corporation for $17.5 million. Alzet
More Private Equity News
River Associates Forms Label Platform
Granite Creek Acquires Global Animal Products
Wynnchurch Sees the Light with Buy of Principal Industries
Artemis Expands Industrial Tech Holdings with Diamond Buy
New Heritage Exits Midwest Corporate Foodservice Giant
After an Active Consolidation Effort, Odyssey Exits NSI
Vance Street Buys Prince Sterilization Services
Branford Buys Testek from Odyssey
New Funds
Transom Closes Fund IV
Transom Capital Group has held a final close of Transom Capital Fund IV LP with $675 million in capital commitments. Fund IV closed above its
Godspeed Speeds to Fund III Close
Godspeed Capital Management has finalized an oversubscribed, hard-cap close of Godspeed Capital Fund III LP with $675 million in capital commitments. Godspeed initiated and completed
StepStone Steps Up for Shrieve Chemical
Gemspring Capital has completed a single-asset continuation fund for Shrieve Chemical, a portfolio company under Gemspring’s ownership since December 2019. The continuation fund, which acquired
Nautic Partners Raises $4.5 Billion for Eleventh Fund
Nautic Partners has announced the close of its latest fund, Nautic Partners XI LP (“Fund XI”), with $4.5 billion in limited partner commitments, surpassing its
People on the Move
Record-Breaking Fund Close Drives Expansion at Transom Capital
Canaccord Genuity Strengthens TMMIS Group with Lance Maerov Hire
New Managing Director and Head of Investor Relations at Percheron
