NEW FUNDS
Sky Island Beats Target on Fund II
Sky Island Capital has held an above target and final close of its second private equity fund, Sky Island Capital II LP, with $300 million in capital commitments. Limited partners
Mountaingate Hard Caps Fund III
Mountaingate Capital has held an above-target, oversubscribed, and hard cap close of its third lower-middle-market private equity fund, Mountaingate Capital Fund III LP with $570 million in capital commitments. Mountaingate
Abacus Unlocks SBA Partnership with SBIC Fund Debut
Abacus Finance Group has received a Small Business Investment Company (SBIC) license and has closed its inaugural SBIC fund, Abacus Finance SBIC Fund I LP (Fund I). The Small Business
J.F. Lehman Closes on $2.2 Billion
J.F. Lehman & Company (JFL) has closed its latest flagship fund, JFL Equity Investors VI LP, with $2.2 billion in capital. This new fund is the largest ever raised by
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.
NEW PLATFORMS
American Pacific Acquires ServerLIFT
American Pacific Group has acquired ServerLIFT, a provider of material handling and lifting equipment for IT infrastructure. ServerLIFT designs, manufactures, and distributes material handling and lifting equipment tailored to the needs of IT infrastructure, particularly
Shore Launches Commercial Plumbing Platform
Shore Capital Partners has acquired Ackerman Plumbing, a Florida-based provider of commercial plumbing services. Ackerman Plumbing provides commercial plumbing services to businesses and contractors, focusing on the healthcare, education, and hospitality sectors. The company was
KLH’s Latest Portfolio Company is Solid as a Rock
KLH Capital has acquired Concrete Protection & Restoration, a provider of concrete restoration services. Concrete Protection & Restoration (CPR) specializes in concrete restoration and technical structural services that maintain the safety, integrity, and functionality of
Stellex Buys Industrial Construction Services from Stone Arch
Stellex Capital Management has acquired Industrial Construction Services (ICS), a provider of electrical services to industrial and commercial sectors, from Stone Arch Capital. The ICS platform was formed by Stone Arch in September 2018 with
NEWS
NEW EXITS
Strata Information Group Switches Sponsors
Fort Point Capital has sold Strata Information Group (SIG), a provider of IT services, to Ridgemont Equity Partners. Strata Information Group (SIG) provides specialized IT services to colleges and universities, focusing on Enterprise Resource Planning
JW Hill Sells Bandy Manufacturing to KKR’s Novaria Group
Novaria Group, a maker of components used in aerospace and defense applications and a portfolio company of KKR, has acquired Bandy Manufacturing from JW Hill Capital. Bandy Manufacturing is a manufacturer of precision hinges and
Pfingsten Sells Omega Systems to Revelstoke
Pfingsten has sold Omega Systems, a provider of managed IT services and cybersecurity services, to Revelstoke Capital Partners. Omega Systems (Omega) specializes in 24/7 IT support, cybersecurity, compliance, multi-cloud connectivity, disaster recovery, and network monitoring
NEW ADD ONS
Salt Creek Sells Roman to Matrix Adhesives Group
Roman Products, a portfolio company of Salt Creek Capital, has been acquired by Matrix Adhesives Group, a portfolio company of Goldner Hawn. Roman Products is a manufacturer of wallcovering adhesives, primers and sealers, removers,
Allied’s CES Power Acquires Base Craft, Launches Studio Services Division
CES Power, a portfolio company of Allied Industrial Partners, has acquired Base Craft, a provider of specialty equipment and services for the motion picture industry. Base Craft provides production trailers, basecamp setups, power
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
Argosy Healthcare Promotes Greg Mayer to Partner
Iron Path Adds Business Development Pro
Cornell Names Jennifer Cattier as Newest Partner
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
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
Strata Information Group Switches Sponsors
Fort Point Capital has sold Strata Information Group (SIG), a provider of IT services, to Ridgemont Equity Partners. Strata Information Group (SIG) provides specialized IT
American Pacific Acquires ServerLIFT
American Pacific Group has acquired ServerLIFT, a provider of material handling and lifting equipment for IT infrastructure. ServerLIFT designs, manufactures, and distributes material handling and
JW Hill Sells Bandy Manufacturing to KKR’s Novaria Group
Novaria Group, a maker of components used in aerospace and defense applications and a portfolio company of KKR, has acquired Bandy Manufacturing from JW Hill
More Private Equity News
Harbour Group Enters the Pet Grooming Sector with Newest Platform
Bottoms Up! Atlas Exits Saxco
Kinderhook Sells VAI to L Catterton’s RealTruck
Rotating Machinery Services Switches Sponsors
Tonka Bay Sees the Light
Nothing Dead About this Deal: Mopec Group Sold to Waud
New Boss at Boss Industries
New Funds
Sky Island Beats Target on Fund II
Sky Island Capital has held an above target and final close of its second private equity fund, Sky Island Capital II LP, with $300 million
Mountaingate Hard Caps Fund III
Mountaingate Capital has held an above-target, oversubscribed, and hard cap close of its third lower-middle-market private equity fund, Mountaingate Capital Fund III LP with $570
Abacus Unlocks SBA Partnership with SBIC Fund Debut
Abacus Finance Group has received a Small Business Investment Company (SBIC) license and has closed its inaugural SBIC fund, Abacus Finance SBIC Fund I LP
J.F. Lehman Closes on $2.2 Billion
J.F. Lehman & Company (JFL) has closed its latest flagship fund, JFL Equity Investors VI LP, with $2.2 billion in capital. This new fund is
People on the Move
Argosy Healthcare Promotes Greg Mayer to Partner
Iron Path Adds Business Development Pro
Cornell Names Jennifer Cattier as Newest Partner
