NEW FUNDS
GEM Closes Independent Sponsor Fund
GEM has held a final, above-target, and oversubscribed close of GEM IS Fund LP (Fund IS), the firm’s inaugural fund dedicated to independent sponsors, with $450 million of capital commitments.
KSL Beats Target on Tactical Opportunities Fund
KSL Capital Partners has held a final close of its second tactical opportunities fund, KSL Capital Partners Tactical Opportunities II LP (Tac Opps II), with $1.44 billion in capital. Tac
Trive Beats Fund V Target
Trive Capital held a final and above-target close of its fifth flagship fund, Trive Capital Fund V LP, with total capital commitments of $2.7 billion. The new fund’s original target
Linden Closes $400 Million Structured Capital Fund
Linden Capital Partners has held a final close of its second structured capital fund, Linden Structured Capital Fund II LP (SCF II), with $400 million in capital commitments. Linden’s earlier
RCP Banks New $170 Million
RCP Advisors has held an above-target and final close of RCP Small and Emerging Fund III LP (Fund III) with $170 million in capital commitments. Limited partners in the new
Pike Street Closes Continuation Fund for Impel
Pike Street Capital has held a final close of Pike Street Capital Reserve LP (PSCR), a single-asset continuation fund for the firm’s Fund I portfolio company, Impel Company. NorthSands Capital
New State Closes New Fund
New State Capital Partners has closed its fourth fund, New State Capital Partners Fund IV LP, above target with $700 million in capital. The new fund was oversubscribed and raised
ONE Bow River Closes Its $500 Million Inaugural Defense-Focused Fund
ONE Bow River has closed its inaugural private equity fund, ONE Bow River National Defense Fund I LP (Fund I), with $500 million in committed capital. The new fund, pending
NEW PLATFORMS
Monogram Teams with Halmos on Vasco Buy
Monogram Capital Partners and Halmos Capital Partners have acquired a majority interest in The Vasco Group, a sports surfaces company. The buy of Vasco is Monogram’s second platform investment for its third fund. The Vasco
Data Center and Industrial-Focused Daedalus Acquired by LongueVue
LongueVue Capital has invested in Daedalus Industrial, a provider of building management and control systems. Daedalus Industrial is a provider of engineering, automation, and electrical contracting services tailored to data centers, manufacturing facilities, and industrial
Paceline Backs Kassel Mechanical
Paceline Equity Partners has made a $40 million preferred equity investment in Kassel Mechanical Holdings as part of a broader recapitalization of the company and to fund the company’s acquisition of Arrow Electric. Kassel Mechanical
Does Money Grow on Trees? Soundcore Says Yes
Soundcore Capital Partners has formed TreeServe LLC as a new platform in the tree care services sector and has closed its first acquisitions with the buys of Princeton Tree Care and Clauser Tree Care. Both
NEWS
NEW EXITS
ACON Exits Kept with Sale to DFW
ACON Investments has sold Kept Companies, a provider of commercial and industrial cleaning services, to DFW Capital Partners. Kept Companies is a national provider of mobile power washing, specialty cleaning, and facility maintenance services across
Soundcore Sells InfraStripe to Bain’s Frontline
Soundcore Capital Partners has closed the sale of InfraStripe, a regional roadway safety contractor, to Frontline Road Safety, the largest provider of pavement marking services in the United States and a portfolio company of Bain
SK Capital Exits Florachem
SK Capital has closed the sale of Florachem, a maker of plant-based specialty ingredients, to Tradebe Life Sciences. Florachem formulates and manufactures naturally derived specialty ingredients including citrus terpenes, rosin esters, and pine oil fractions,
NEW ADD ONS
Lockmasters Enters RF Shielding Sector with Latest Acquisition
Lockmasters, a portfolio company of Dominus Capital, has acquired Astic Signals Defenses. Lockmasters is a manufacturer and distributor of combination locks, tools, hardware, and educational services to government and security professionals, including automotive
Gemspring’s AMPAM Acquires Seal Electric
AMPAM Parks Mechanical, a portfolio company of Gemspring Capital, has acquired Seal Electric. AMPAM is a full-service design-build contractor providing plumbing and HVAC services specifically for the multifamily residential construction market. The company
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
Brown Gibbons Lang Adds Consumer Veteran
Gridiron Adds Business Development Pro
Canaccord Genuity Hires Aerospace & Defense Pro
Abacus Finance Names New President
BGL Adds Aerospace Pro
Argosy Healthcare Promotes Greg Mayer to Partner
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
M&A and JV Activity in Private Credit: What the Trend Could Mean for Borrowers
The State of the Game The private credit arms race has taken the industry landscape by storm, with Ken Moelis citing the shift as the “greatest change in the history of transactional finance.”[1] Already enjoying
Are M&A Deal Parties Turning Away from Reps & Warranties Insurance?
RWI usage is declining[1] for deals closed in 2024, including among Private Equity buyers.[2] When an M&A deal requires more carveouts for things like survival periods and caps and special escrows to cover RWI policy
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.
Monogram Teams with Halmos on Vasco Buy
Monogram Capital Partners and Halmos Capital Partners have acquired a majority interest in The Vasco Group, a sports surfaces company. The buy of Vasco is
ACON Exits Kept with Sale to DFW
ACON Investments has sold Kept Companies, a provider of commercial and industrial cleaning services, to DFW Capital Partners. Kept Companies is a national provider of
Lockmasters Enters RF Shielding Sector with Latest Acquisition
Lockmasters, a portfolio company of Dominus Capital, has acquired Astic Signals Defenses. Lockmasters is a manufacturer and distributor of combination locks, tools, hardware, and educational
More Private Equity News
OEP’s Ballymore Acquires Valley Craft Industries
Brynwood Sells Harvest Hill to Castillo Hermanos
Reichmann Segal Advances Sports Infrastructure Strategy
May River Closes Carve Out, Forms Tusk Industrial
Gatekeeper Finds its Keymaster
Olympus Continues the Build of MEI Rigging & Crating
New State Exits MakoRabco
KPS Carves Composites Business from INEOS
New Funds
GEM Closes Independent Sponsor Fund
GEM has held a final, above-target, and oversubscribed close of GEM IS Fund LP (Fund IS), the firm’s inaugural fund dedicated to independent sponsors, with
KSL Beats Target on Tactical Opportunities Fund
KSL Capital Partners has held a final close of its second tactical opportunities fund, KSL Capital Partners Tactical Opportunities II LP (Tac Opps II), with
Trive Beats Fund V Target
Trive Capital held a final and above-target close of its fifth flagship fund, Trive Capital Fund V LP, with total capital commitments of $2.7 billion.
Linden Closes $400 Million Structured Capital Fund
Linden Capital Partners has held a final close of its second structured capital fund, Linden Structured Capital Fund II LP (SCF II), with $400 million
People on the Move
Brown Gibbons Lang Adds Consumer Veteran
Gridiron Adds Business Development Pro
Canaccord Genuity Hires Aerospace & Defense Pro
