Kane Infrastructure Services, a portfolio company of Aterian Investment Partners, has acquired Cable Solutions.
Aterian formed Kane Infrastructure Services in August 2021 to acquire Kane Communications and begin a consolidation within the fragmented communications and utility infrastructure sectors. The buy of Cable Solutions is Kane’s first add-on acquisition.
Kane is a provider of structured cabling services which include the installation, replacement, and maintenance of telecommunications networks. The company is active in numerous sectors including distribution, data centers, and hospitals.
Specific services provided by Kane include data center buildouts and maintenance; distributed antenna systems; fiber optic splicing and testing; power over ethernet (PoE) lighting systems; security and audio/visual infrastructure; and voice and data network infrastructure. Kane also provides other plant and utility services to complement its structured cabling services. The company was founded in 2004 and is headquartered in Trenton, New Jersey.
Like Kane, Cable Solutions is a provider of structured cabling and other fiber optic services with a specialization in the healthcare and education sectors. The company was founded in 1998 by Jim Delashmutt and Mike Camacho, and is headquartered in Chandler, Arizona.
The acquisition of Cable Solutions expands Kane’s geographic reach to the Southwestern United States. “We are thrilled that the Kane team has completed their first add-on acquisition,” said Daniel Phan, a managing director at Aterian. “Cable Solutions is a leader in its market, providing Kane with a strong operating footprint in the southwest.”
“We all could not be more excited about adding Cable Solutions to the Kane family,” said John Donnelly, the president of Kane. “They have a strong reputation in Arizona for providing quality service for their customers. We are big believers in the growth of the region and look forward to continue expanding our footprint here.”
“We look forward to continuing to expand into new high-growth territories both organically and inorganically,” said Lynn Refer, an advisor to Kane and a member of the company’s board of directors.
Aterian invests up to $50 million in small-to-middle market businesses with $25 million to $500 million in revenues that are underperforming, turnarounds or otherwise unique situations. The firm’s latest fund, Aterian Investment Partners III LP, closed in July 2018 with $350 million of committed capital. Aterian has offices in New York City and Coral Gables, Florida.
© 2021 Private Equity Professional | December 20, 2021
Gridiron Capital has sold Essential Cabinetry Group to Breck Partners in partnership with the company’s senior management team.
“Mark and his leadership team have been great to work with,” said Joe Saldutti, a managing director at Gridiron. “They have built a leading platform focused on consistently meeting and exceeding their customers’ expectations.”
“Essential Cabinetry has built internal momentum through several key initiatives based on the “One Company, One Culture” message aligning the employees and locations on the company’s mission, vision and core values renewed under Mark’s leadership,” said Tom Burger, the managing partner at Gridiron.
Huron Capital has sold a majority interest in Sciens Building Solutions to the Carlyle Group. The company’s senior management team, as well as Huron, will retain minority equity stakes in the business in partnership with Carlyle.
“We have been extremely proud to support Terry and the senior management team over the last five years,” said Jim Mahoney, a managing partner at Huron. “Looking forward, we know that Sciens is poised for continued growth through M&A and would benefit from a larger partner with deep industry experience, and there is no one better to do this than the Carlyle team.”
Pearlman Group, a portfolio company of The Stephens Group, has acquired Advanced Diamond Technologies (DBA Vector Tools). The Stephens Group acquired Pearlman from the Harbour Group in May 2017.
“We have been impressed by Vector as a respected competitor of GranQuartz and are excited to be partnering with their team to add to our existing capabilities and serve our collective customers even better,” said Mr. McLendon. “As seasoned industry professionals, Elbert and Corey have built a solid business, team, and brand all of which we are excited to have at Pearlman.”
“We are excited to support the Pearlman team as they continue to execute on a multi-faceted acquisition strategy across core and adjacent markets,” said Grant Jones, a managing director at The Stephens Group. “The Vector transaction demonstrates the continued opportunity to add unique competitive capabilities that will build an industry-leading specialty distribution platform.”
Little Rock, Arkansas-based 
New Harbor Capital has made an equity investment in IndeVets, a tech-enabled provider of veterinarian staffing services.
“We look forward to partnering with the IndeVets team,” said Jocelyn Stanley, a partner at New Harbor. “Their work sits at the unique intersection of animal health and tech-enabled services, which is in great alignment with our firm’s focus areas. New Harbor also has a long track record of partnering with clinician-centric healthcare businesses and IndeVets’ ‘vets first’ approach is unmatched in the industry. The company has incredible growth opportunities, and we look forward to helping them continue to expand and innovate.”
Chicago-based New Harbor invests from $10 million to $40 million of equity in education, healthcare, and tech-enabled services companies that have from $3 million to $15 million of EBITDA. In February 2021, after just three months of fundraising, New Harbor held a hard cap close of its third private equity fund, New Harbor Capital Fund III LP, with $362 million of capital.
WILsquare Capital has acquired TekBrands, a provider of equipment and services to the quilting and crafting sector.
“We are delighted to be a part of the TekBrands story and to have the opportunity to invest behind this talented management team,” said Drew Caylor, a managing director at WILsquare. “The company has succeeded, not only in engineering great products but also in creating a multi-channel platform and digital ecosystem that engages and inspires the creativity of quilters and crafters.”
WILsquare invests in businesses that are located in the Midwest and South that have EBITDA of $3 million to $10 million. Sectors of interest include business services, technology infrastructure and services, value-added distribution, niche manufacturing, and internet and catalog-based enterprises.
“The Midwestern values and distinct culture of continuous improvement at TekBrands resonate strongly with us,” said Andrew Scharf, a director at WILsquare. “We look forward to preserving and expanding upon the legacy that Steve and the management team have built over more than three decades.”
The Halifax Group has sold BCI Burke, a manufacturer of commercial playground equipment, to Bertram Capital. Halifax acquired BCI Burke from Incline Equity Partners in June 2017. The buy of BCI Burke is the sixth investment completed by Bertram for its fourth fund.
“Burke has established itself as a category leader in premium, single-brand commercial play equipment,” said Kevin Yamashita, a partner at Bertram Capital. “The company’s successes reflect their innovative product offering and best-in-class customer support, as well as their targeted go-to-market strategy in the United States and internationally. We recognized a strong cultural fit during the sale process and are honored to partner with Mike Phelan and the Burke team in their next chapter.”
Dwyer Instruments, a portfolio company of Arcline Investment Management, has closed the add-on acquisition of Universal Flow Monitors.
Lone Star Funds has agreed to acquire publicly traded SPX FLOW in an all-cash transaction with an enterprise value of $3.8 billion.
“SPX FLOW has transformed its business and made important progress executing against our strategic plans, and we believe this transaction with Lone Star is an exciting culmination of those efforts for our shareholders,” said Mr. Michael.
Dallas-headquartered 
Aquamar Holdings, a portfolio company of Huron Capital, has acquired seafood producer Shining Ocean from True World Group.
“We continue to see growing demand in the seafood manufacturing and branded product spaces,” said James Dickinson, a vice president at Huron Capital. “We look forward to offering Shining Ocean’s innovative products as we continue to grow the Aquamar platform.”
