NEW FUNDS
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
Benford Closes Oversubscribed Fund III at $365 Million
Benford Capital Partners has held a first, final, above-target, and oversubscribed closing of its third investment fund, Benford Capital Partners III LP, with capital commitments of $365 million. Chicago-based Benford
Pamlico Closes Fund Six at $1.75 Billion
Pamlico Capital has held an above target, hard cap, an oversubscribed final close of Pamlico Capital VI LP (PC VI) with $1.75 billion of capital. Limited partners in PC VI
LoneTree Closes Inaugural Fund
LoneTree Capital has held a final close of its first growth equity fund, LoneTree I LP, with $200 million in capital. LoneTree invests between $10 million and $75 million in
Longshore Hardcaps Fund II
Longshore Capital Partners has held the final closing of Longshore Capital Partners Fund II at its hard cap of $325 million in capital. The firm’s new fund was oversubscribed, closing
NEW PLATFORMX
CAI Lets Loose GreenArrow
CAI Capital Partners has formed GreenArrow as a new electrical infrastructure services platform. The formation of GreenArrow unites three infrastructure services businesses that CAI previously acquired: Midwestern Electric in November 2021, Kuharchik Construction in June
Cerberus Carves Votaw Precision Technologies from Doerfer
Cerberus Capital Management has acquired Votaw Precision Technologies, a manufacturer of hardware and components for aerospace and defense platforms, from Doerfer Corporation. Votaw is a specialty manufacturer of complex components used in aerospace, defense, space,
Clearlake to Take Dun & Bradstreet Private
Clearlake Capital has agreed to acquire publicly traded Dun & Bradstreet at an enterprise valuation of $7.7 billion and an equity valuation of $4.1 billion. This transaction has been unanimously approved by Dun & Bradstreet’s
Main Post Backs Rebel Athletic
Main Post Partners has made a minority investment in Rebel Athletic, a designer and manufacturer of custom couture cheerleading, dance, and athletic apparel. Rebel Athletic’s product portfolio includes custom Allstar cheer uniforms, performance practice wear,
NEWS
NEW EXITS
HCI Sells MSI Express to Nonantum Capital Partners
HCI Equity Partners has closed the sale of MSI Express, a national contract manufacturing and packaging firm for the food and beverage industry, to Nonantum Capital Partners. MSI Express is a contract manufacturing and packaging
CIC Exits CraftMark with Sale to OEP
CIC Partners has agreed to sell CraftMark Bakery, a commercial bakery based in Indianapolis, to One Equity Partners. CraftMark manufactures private label frozen doughs and fully baked products for national quick-service restaurants (QSRs), in-store bakeries,
NEW ADD ONS
Bertram Builds Roofing Platform
Ridgeline Roofing & Restoration, a provider of residential and commercial roofing services, has acquired Signature Exteriors. Ridgeline’s re-roofing and restoration
Celebrity Coaches Expands Again with BandWagon Buy
Celebrity Coaches, a portfolio company of Allied Industrial Partners, has expanded with the acquisition of BandWagon RV Rentals. Celebrity Coaches
Aurora Carves Royal Purple Industrial from Calumet
Lubrication Engineers, a portfolio company of Aurora Capital, has agreed to acquire the industrial brands and products of Royal Purple
Aurora Continues Build of Universal Pure
Universal Pure, a portfolio company of Aurora Capital Partners, has acquired the high-pressure processing (HPP) assets of Dora’s Naturals. Aurora
NEW FINANCINGS
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
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
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
Abacus Backs Another LongueVue Platform
Abacus Finance Group has provided senior secured debt to support the acquisition of Summit Clinical Research by LongueVue Capital. Abacus also made an equity co-investment. Summit Clinical Research (SCR) is
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
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
Iron Path Adds Business Development Pro
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.
HCI Sells MSI Express to Nonantum Capital Partners
HCI Equity Partners has closed the sale of MSI Express, a national contract manufacturing and packaging firm for the food and beverage industry, to Nonantum
CAI Lets Loose GreenArrow
CAI Capital Partners has formed GreenArrow as a new electrical infrastructure services platform. The formation of GreenArrow unites three infrastructure services businesses that CAI previously
CIC Exits CraftMark with Sale to OEP
CIC Partners has agreed to sell CraftMark Bakery, a commercial bakery based in Indianapolis, to One Equity Partners. CraftMark manufactures private label frozen doughs and
More Private Equity News
Trive Soars to Exit with IPO of Karman
Avista Exits Solmetex
Blue Point Sells Sylvan to E3Tech
New Platform Charges Up IGP
LLCP Sells Encore Fire Protection to Permira
J.F. Lehman Launches New Platform
Trivest Exits HighGround Restoration
J.F. Lehman Doubles Up on Exits
New Funds
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
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
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
Benford Closes Oversubscribed Fund III at $365 Million
Benford Capital Partners has held a first, final, above-target, and oversubscribed closing of its third investment fund, Benford Capital Partners III LP, with capital commitments
People on the Move
Gridiron Adds Business Development Pro
Canaccord Genuity Hires Aerospace & Defense Pro
