April 27, 2016
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Archives for April 27, 2016

Ex-Halyard Pro Joins Yukon

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yukon nf1Michael Furey has joined Yukon Partners as the firm’s newest partner. He will be active in sourcing and evaluating new investment opportunities as well as portfolio management.

Michael Furey nf1Prior to joining Yukon, Mr. Furey was a partner at Halyard Capital, a maker of control and junior capital investments in business services, media, and communications companies. At Halyard, he sourced and executed new investments, led the firm’s healthcare IT strategy and served on the boards of multiple portfolio companies.

“Mike brings a wealth of investment experience along with quality industry relationships that will further our core strategy at Yukon,” said William Dietz, Founder and Managing Partner of Yukon.

Yukon makes subordinated debt and equity investments of $10 million to $40 million in middle-market, private equity sponsored acquisitions. The firm invests in buyouts, growth and platform strategies, recapitalizations, mergers & acquisitions, public- to-private buyouts, and refinancings.

Prior to Halyard, Mr. Furey was an investment manager with Capital Resource Partners, a provider of subordinated debt and equity to support acquisitions, recapitalizations, growth and management buyouts. He has a BA in Economics from Brown University and an MBA from Harvard.

Yukon Partners is headquartered in Minneapolis (www.yukonpartners.com). Mr. Furey will operate out of an office in Boston.

© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-27-16

JMC Adds New Principal

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JMC nf1JMC Capital Partners has hired Bill Tamul as a new principal of the firm.  Since 2009, he has been a Senior Vice President at Deloitte Advisory.

bill tamul nf1At Deloitte, Mr. Tamul was a member of the transaction and business analytics practice. Mr. Tamul led a number of engagements and worked with client management teams to develop strategic alternatives, raise capital, improve profitability and liquidity.

At JMC, Mr. Tamul will lead the firm’s due diligence and transaction processing efforts and assist in the oversight of portfolio company performance. “We’re very pleased to have Bill on the team,” said Michael D’Amelio, Managing Partner at JMC. “His strengths in due diligence, transaction execution, and project management with high-value clients and experience will be a great asset to the success of the group.”

Before his time at Deloitte, Mr. Tamul held positions with Fidelity Investments, FTI Consulting, Valuation Perspectives, and Banc of America Securities. He has a BA in Economics from Providence College.

JMC Capital Partners invests from $5 million to $15 million in lower-middle market industrial companies that manufacture “intermediate” products (products that are sold to other businesses).  Sectors of interest include industrial components and equipment; electrical and electronic equipment; process instrumentation and controls; analytical instruments and measuring devices; fluid control, filtration and pumps; specialty chemicals, adhesives and coatings; plastics and synthetic materials; and healthcare and safety equipment.  JMC was founded in 1999 and is based in Boston (www.jmccp.com).

© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-27-16

Frontenac Acquires Liquid Technologies

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liquid technologies nf1Frontenac has completed the acquisition of Liquid Technologies, a contract formulator and manufacturer of personal care products.

liquid technologies nf11Liquid Technologies capabilities include formulation, development, blend manufacturing, filling and packaging. Products include shampoos, conditioners, styling products and aerosols, in addition to skin care products such as creams and lotions. The company is headquartered east of Los Angeles in Chino, CA (www.liquidtek.com).

Jay Kline, a former President at Kennametal (2010 – 2014), Tekni-Plex (2005 – 2009), and BASF (1998 – 2005), partnered with Frontenac on this acquisition and became the new Chief Executive Officer of Liquid Technologies at closing.

Ron Kuehl nf1“Liquid Technologies has a variety of competitive advantages including technical and formulation capabilities as well as a customer and service centric culture,” said Ron Kuehl, a managing director at Frontenac. “We will support Liquid Technologies as it continues its impressive organic growth trajectory and as it begins its pursuit of strategic and complementary acquisitions.”

Frontenac invests in lower middle-market businesses that operate primarily in the food, industrial, and services industries. The firm was founded in 1971 and is headquartered in Chicago (www.frontenac.com).

“We are excited to make a new platform investment in an attractive, recession resistant market segment,” said Neal Sahney, a vice president at Frontenac.  “We believe strong industry fundamentals such as consumers’ desire for premium and custom products and favorable demographic trends toward health and beauty will continue to drive demand for years to come.”

© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-27-16

Ridgemont Buys Lifeguard Medical

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lifeguard nf1Allied 100, a portfolio company of Ridgemont Equity Partners, has acquired Lifeguard Medical Solutions, a distributor of automated external defibrillators (AEDs) and accessories. AEDs are electric life-saving devices used to restart patient heartbeats during a heart attack or similar emergency.

lifeguard nf12In addition to its distribution capabilities, Lifeguard is also certified by the American Heart Association as an official training services provider. Lifeguard was co-founded by Harvard Reynolds and Chet Frist in 2003 and is headquartered in Nashville (www.lifeguardmed.com) (www.aedsupplystore.com).

Allied 100, acquired by Ridgemont in December 2014, is a provider of products and services to the AED industry. The company operates AED Superstore (www.aedsuperstore.com), a distributor of AEDs and ancillary parts and accessories. The company’s products are all sourced from FDA-approved medical device manufacturers. The company also provides aftermarket support services including physician oversight, AED legal compliance and replacement parts management. Allied 100 is headquartered northeast of Minneapolis in Woodruff, WI (www.allied100.com).

“Lifeguard has a blue chip customer base and offers market-leading training services that will immediately add value to the combined business,” said Micah Bongberg, CEO of Allied 100. “This acquisition also solidifies Allied 100’s position as the largest provider of AEDs and medical direction (providing instructions on patient care to an emergency provider or caregiver) in the United States.”

ridgemont nf33Ridgemont Equity Partners focuses on middle market buyout and growth equity investments of $25 million to $100 million. The firm invests in the following sectors: basic industries and services; energy; healthcare; and telecommunications, media and technology. Ridgemont Equity Partners is headquartered in Charlotte (www.ridgemontep.com).

In November 2015, Ridgemont held a final closing of Ridgemont Equity Partners II, LP at the fund’s hard cap of $995 million.

© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-27-16

Z Capital Buys Twin-Star International

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twinstar nf1Z Capital Partners has acquired Twin-Star International, a designer and manufacturer of electric fireplaces, home cabinetry and of consumer electronics.

twinstar nf11Twin-Star designs and manufactures decorative electric fireplaces, heaters, home furnishings (television stands, speaker bars, cabinets, beds, and kitchen islands) and consumer electronics (headphones, power surge protectors and HDMI cables). Company owned brands include ClassicFlame, Duraflame, ChimneyFree, ClassicFlame Pro, Bell’O, Bell’O Digital, PowerHeat, and Safer Socket. Twin-Star was founded in 1996 and is headquartered north of Boca Raton in Delray Beach, FL with manufacturing facilities in Southern China (www.twinstarhome.com).

Twinstar’s co-presidents, Peter Harper and Marc Sculler, and EVP Andy Bandremer will continue to oversee daily operations of the company under Z Capital ownership.

james zenni nf2Z Capital intends to grow Twin-Star by expanding the company’s established retail platform into additional channels – such as homebuilding, hotels and lodging, and commercial markets – and new geographies.

“As the market leader in the electrical heating and furniture industry, Twin-Star is well-positioned for continued growth and success,” said James Zenni, President and Chief Executive Officer of Z Capital.

z capital nf1Z Capital makes control investments in middle-market distressed companies, operational turnarounds and special situations. The firm targets companies with an enterprise value of less than $1 billion or EBITDA of less than $100 million. Sectors of interest include consumer products, steel and steel processors, agricultural, gaming, leisure, real estate, manufacturing, specialty services and automotive. Z Capital is based in the Chicago suburb of Lake Forest and has additional offices in New York and Zurich (www.zcap.net).

© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-27-16

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