NEW FUNDS
Churchill Closes New Co-Investment Fund
Churchill Asset Management, an affiliate of Nuveen, has held a final, oversubscribed, and hard cap close of Churchill Co-Investment Fund II LP (Fund II) with $1.5 billion in limited partner
Banner Closes Continuation Fund, Launches Fund II
Banner Capital Management has recapitalized eight portfolio companies into a $400 million continuation vehicle, Banner Capital Fund I, L.P., and has formally launched Banner Capital Fund II LP with a
Virent Capital Launches with Focus on Digital Enablement
Virent Capital has been launched by Connor McMahan, a former partner at L2 Capital, to invest in companies operating in the U.S. lower middle market. Virent began operating in May
Eagle Wraps $415 Million Fund II in Seven Months
Eagle Merchant Partners has closed its second private equity fund, Eagle Merchant Partners Fund II LP, with $415 million in capital commitments. The new fund closed above its original hard
Invictus Closes $574 Million Fund II
Invictus Growth Partners has held a final and oversubscribed close of its second flagship vehicle, Invictus Growth Fund II LP, with $574 million in total capital commitments. Fund II exceeded
Denali Doubles Up
Denali Growth Partners (DGP) has held a final close of Denali Growth Partners Fund II LP with $400 million in limited partner commitments, surpassing its $350 million target. DGP’s first
Nexa Hard Caps Fund II
Nexa Equity has held a hard cap and oversubscribed final close of Nexa Equity Fund II LP with $390 million in capital commitments. Nexa is an investor in founder-led software
NEW PLATFORMX
Clarion Launches Infrastructure Testing Platform
Clarion Capital has made an investment in International Cybernetics (ICC), a portfolio company of Delmar Capital that operates in the testing, inspection, certification, and compliance (TICC) sector. International Cybernetics is a provider of software-powered infrastructure
Angeles Equity Polishes Its Portfolio with Solid Surface Buy
Angeles Equity Partners has acquired Solid Surface Care, a provider of commercial surfaces maintenance services. Solid Surface Care’s services include deep cleaning, stain removal, disinfection, restoration, and maintenance for hard and soft materials including carpet,
Sojourner Carves Lornamead from Meiyume
Sojourner Consumer Partners has formed Lornamead as a new platform and carved out certain assets and personal care brands of Lornamead North America from Lornamead, Inc. and Lornamead Group Limited, subsidiaries of Meiyume, which is
Soundcore Back on the Roof with New Launch
Soundcore Capital Partners has formed TrussPoint Roofing & Exterior Renovations as a new platform and has acquired Ridge Top Exteriors, a provider of residential exterior renovation services. As part of the formation of TrussPoint, Chad
NEWS
NEW EXITS
CenterGate Exits Mid-State in Sale to ONCAP
CenterGate Capital has closed the sale of Mid-State Industrial Maintenance to ONCAP, the lower middle market private equity arm of Onex Corporation. Mid-State provides on-site and off-site industrial maintenance, repair, and overhaul (MRO) services –
GSTV Sold to MidOcean
Rockbridge Growth Equity has sold its majority ownership in GSTV, a national video network operating across fuel and convenience retailers, to MidOcean Partners. As part of the transaction, Rockbridge will retain a minority stake in
NEW ADD ONS
Aerial Expands Capabilities with Hazard Protection Systems Acquisition
Aerial Machine & Tool, a portfolio company of Argosy Private Equity, has acquired Hazard Protection Systems, a provider of fire
Heartwood Continues Build of Norlee Group
Norlee Group, a portfolio company of Heartwood Partners since October 2024, has acquired Allstate Electric. Through seven subsidiaries, Norlee operates
Odyssey’s PIP Acquires Honeywell’s PPE Business
Protective Industrial Products (PIP), a portfolio company of Odyssey Investment Partners, has finalized its $1.3 billion acquisition of the personal
Highview’s Safety Marking Takes a Straight Line to a Bigger Platform
Safety Marking (SMC), a pavement marking services provider backed by Highview Capital, has acquired Straight Line Industries. Straight Line Industries
NEW FINANCINGS
Abacus Ramps Up Deal Activity with Two New Closings
Abacus Finance Group has had an active start to the
Through Western Vet, TPG Twin Brook Builds Relationship with Tyree & D’Angelo
TPG Twin Brook has increased its credit facilities to Western
Trinity Launches Sponsor Finance Vertical
Publicly traded Trinity Capital has formed a new sponsor finance
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,
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
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,
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
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
Always Active Abacus Starts Fast
Abacus Finance is continuing its active support of private equity buyouts with the close of new transactions for Thompson Street Capital Partners, American Pacific Group, Pine Tree Equity, and WestView
FEATURED TRANSACTIONS
No Holes in this Deal: Swander Pace Acquires Maple Donuts
Swander Pace Capital has acquired Maple Donuts, a manufacturer of frozen bakery products. Co-investing in the acquisition were Partners Capital and Constitution Capital Partners. Maple Donuts specializes in private label donuts for retail
Paceline Acquires Everflow
Everflow Supplies, a distributor of plumbing, electrical, fire control, and industrial products, has been acquired by Paceline Equity Partners. Everflow is a national master distributor of more than 20,000 SKUs of fittings, valves,
Gemspring Carves Out Goodyear Chemical for $650 Million
Gemspring Capital Management has agreed to acquire Goodyear Chemical, the polymer chemicals division of publicly traded Goodyear Tire & Rubber Company, for $650 million in cash. Akron-headquartered Goodyear Chemical is a producer of
Odyssey’s PIP Acquires Honeywell’s PPE Business
Protective Industrial Products (PIP), a portfolio company of Odyssey Investment Partners, has finalized its $1.3 billion acquisition of the personal protective equipment (PPE) division of publicly traded Honeywell. Odyssey previously acquired PIP from
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
Canaccord Genuity Builds Investment Banking Team
Mesirow Strengthens its Technology Vertical
SK Capital Hires John Novak to Lead Business Development
Brown Gibbons Lang Adds Consumer Veteran
Gridiron Adds Business Development Pro
STRATEGIES & STUDIES
Trump Administration Considers Opening $9 Trillion 401(k) Market to Private Equity Investments
The Trump administration is contemplating an executive order that would permit private equity firms to access the nearly $9 trillion U.S. 401(k) retirement market. This initiative aims to allow private equity firms such as Blackstone,
How to Control Healthcare Costs Throughout Your Portfolio With New Insurance Model
During the five- to seven-year window that private equity typically owns businesses, firms have a value creation plan to increase profitability so they can sell or take the company public. Those plans frequently involve go-to-market
BCG: Private Equity Infrastructure Investment Gains Momentum
Private equity investment in infrastructure is showing renewed strength as macroeconomic uncertainties stabilize, according to the latest Infrastructure Strategy 2025 report by Boston Consulting Group (BCG). According to BCG, the private infrastructure market, which has
Private Equity on the Rebound
A global private equity (PE) revival is taking shape as dealmaking gains traction, though sluggish fundraising continues to present challenges, according to Bain & Company’s 16th annual Global PE Report. The report highlights a resurgence
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
Clarion Launches Infrastructure Testing Platform
Clarion Capital has made an investment in International Cybernetics (ICC), a portfolio company of Delmar Capital that operates in the testing, inspection, certification, and compliance
Aerial Expands Capabilities with Hazard Protection Systems Acquisition
Aerial Machine & Tool, a portfolio company of Argosy Private Equity, has acquired Hazard Protection Systems, a provider of fire suppression kits used in military,
Heartwood Continues Build of Norlee Group
Norlee Group, a portfolio company of Heartwood Partners since October 2024, has acquired Allstate Electric. Through seven subsidiaries, Norlee operates a portfolio of electrical, mechanical,
More Private Equity News
Bernhard Capital Acquires TechServ
Azalea Puckers Up, Acquires Pickle Juice
InvestBev gets Lucky
Quiet Professionals Acquired by McNally Capital
Littlejohn Starts Working on the Railroad
Fusion Very Relevant with Latest Buy
Boyne Acquires Water Treatment Equipment Maker
Transom Takes SigmaTron Private
New Funds
Churchill Closes New Co-Investment Fund
Churchill Asset Management, an affiliate of Nuveen, has held a final, oversubscribed, and hard cap close of Churchill Co-Investment Fund II LP (Fund II) with
Banner Closes Continuation Fund, Launches Fund II
Banner Capital Management has recapitalized eight portfolio companies into a $400 million continuation vehicle, Banner Capital Fund I, L.P., and has formally launched Banner Capital
Virent Capital Launches with Focus on Digital Enablement
Virent Capital has been launched by Connor McMahan, a former partner at L2 Capital, to invest in companies operating in the U.S. lower middle market.
Eagle Wraps $415 Million Fund II in Seven Months
Eagle Merchant Partners has closed its second private equity fund, Eagle Merchant Partners Fund II LP, with $415 million in capital commitments. The new fund
People on the Move
Canaccord Genuity Builds Investment Banking Team
Mesirow Strengthens its Technology Vertical
