Center Rock Capital Partners has acquired TAG Manufacturing, a designer and manufacturer of attachments used in construction and earth-moving applications.
TAG Manufacturing’s products – sold to OEMs, dealers and heavy equipment rental companies – range from light-weight wheel loader buckets to severe-duty excavator attachments and are used in the material handling, construction, agriculture and municipal markets.
TAG was founded in 2005 by brothers Gary and Terry Wilt who are partnering with Center Rock on this transaction.
“TAG has changed how the industry thinks of attachment suppliers,” said Terry Theodore, a partner at Center Rock. “From the beginning, TAG has been dedicated to supporting its customers with speed, flexibility and unmatched customer service. We are thrilled to partner with Gary, Terry and the rest of the TAG team to support their future growth plans.”
TAG operates from two facilities in Chattanooga, Tennessee with a combined 400,000 square feet of space.
“Center Rock understands the nuances of our business and brings a depth of experience to help us grow and expand the company,” said Terry Wilt. “Equally as important as the opportunity for growth, is the fact that Center Rock shares our focus on genuine partnerships and culture.”
Center Rock makes control and non-control equity investments in North American-based industrial manufacturing, industrial services and industrial distribution companies that have revenues of $25 million to $500 million and EBITDA of up to $50 million (including negative EBITDA). TAG is Center Rock’s fifth platform investment out of its first fund, Center Rock Capital Partners Fund I LP, which closed in 2018 with an oversubscribed $580 million of limited partner capital.
“TAG is a superb brand with a reputation for exceptional service, product quality and leadership – all attributes we look for in our investments,” said David Matthews, a principal at Center Rock. “In a short period of time, Gary and Terry have created an incredible and durable business with great momentum that we are excited to build upon.”
Center Rock was founded in August 2017 and has offices in Chicago and in the Detroit suburb of Bloomfield Hills.
© 2020 Private Equity Professional | February 18, 2020
The Courtney Group and Centerfield Capital Partners have acquired the medical device repair and services business of Tenacore Holdings.
Joining Courtney and Centerfield on this transaction is Jim Willett, a healthcare executive who has been named as Tenacore’s chief executive officer. “Tenacore has an impressive and highly skilled team in place,” said Mr. Willett. “As we execute our strategic growth plan, we intend to expand and complement the existing team, with the goal of providing an increased breadth of products and services to our customers. We look forward to pursuing growth opportunities that the company did not previously have the resources to pursue.”
Indianapolis-based 
Platinum Equity has closed its acquisition of private label biscuit maker Biscuit International from Qualium Investissement. Platinum began negotiating with the company on this transaction beginning in November 2019.
“Biscuit International has an exceptional portfolio and a well-deserved reputation for high-quality products,” said Louis Samson, a partner at Platinum. “We support the company’s plan to continue expanding its offering and its international reach, both organically and through additional add-on investments. We look forward to working with the management team to optimize the platform and maximize operational performance throughout the business.”
Platinum Equity invests in a range of industries including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, and telecommunications. The firm is currently investing from Platinum Equity Capital Partners V LP, a $10.0 billion buyout fund, and Platinum Equity Small Cap Fund LP, a $1.5 billion buyout fund focused on the lower middle market. The firm has completed more than 250 acquisitions since its founding in 1995 and is headquartered in Beverly Hills.
Odyssey Investment Partners has held a first and final hard cap closing of Odyssey Investment Partners Fund VI LP (Fund VI) with $3.25 billion of capital.
“We are sincerely grateful for the enthusiasm of our long-standing limited partners, as well as the expansion of our base with several leading global investors,” said Brian Kwait, a senior managing principal and chief executive officer of Odyssey. “Our successful fundraising effort reflects our investors’ considerable confidence in our team, which will continue to be focused on building value on their behalf in the coming years.”
