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January 20, 2026

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Archives for February 27, 2025

Shorehill Bags Estex Manufacturing

February 27, 2025 by John McNulty

Shorehill has acquired Estex Manufacturing, a privately-held manufacturer specializing in industrial sewn products for utility, airline, and military applications including safety and protective gear, tool storage products, high-visibility apparel, and protective covers.

Estex’s utility and electrical safety products include lineman tool buckets for carrying tools, arc protection blankets to shield workers from electrical hazards, and high-visibility protective vests and sleeves.

Source: Estex Manufacturing

Estex also offers custom industrial sewn products, including heavy-duty tool bags made from canvas, nylon, or vinyl, custom equipment covers for machinery and tools, and industrial-grade securing straps and harnesses.

In the airline sector, Estex manufactures baggage cart curtains to protect luggage, aircraft loading bridge solutions for safe passenger boarding, and ramp safety products such as reflective markers and tool bags.

Source: Estex Manufacturing

Founded in 1900 by Henry Estes as the Estes Manufacturing Company, Estex began as a producer of horse and buggy accessories, including collars, saddles, and bridles. In the 1940s, the company pivoted to the power utility sector, repurposing its feed bags into lineman tool buckets. Today, the company produces more than 4,000 SKUs and is led by President Mike Scott, with headquarters located southwest of Atlanta in Fairburn, Georgia.

“Shorehill is thrilled to partner with Mike Scott and the rest of the Estex team,” said Robert Jackson, a managing director at Shorehill Capital. “This partnership reflects our commitment to collaborating with management teams to achieve shared success. Together, we are enhancing manufacturing capacity, improving efficiency, and working to accelerate growth.”

Chicago-based Shorehill Capital makes control investments in North American middle-market companies with EBITDA ranging from $3 million to $15 million and enterprise values between $20 million and $150 million. The firm focuses on engineered industrial products, industrial services, and value-added distribution.

In November 2023, Shorehill Capital held a final, oversubscribed closing of its second fund, Shorehill Private Equity II LP, with $260 million in capital commitments, exceeding its $250 million target. The firm was founded in 2013 by its managing partners Brian Simmons and Dave Hawkins, both former senior executives of CHS Capital.

Financing for this acquisition was provided by Fidus Investment Corporation.

© 2025 Private Equity Professional | February 28, 2025

Filed Under: New Platform, Transactions

LongRange to Carve US Synthetic from ChampionX

February 27, 2025 by John McNulty

LongRange Capital has agreed to acquire US Synthetic from publicly traded ChampionX Corporation.

The sale of US Synthetic is expected to close following the completion of Schlumberger’s $8.2 billion acquisition of ChampionX which was announced in April 2024. This transaction has been delayed due to antitrust scrutiny and the need for regulatory approvals from several countries, including the United States and Norway, but is now expected to close by the end of the first quarter.

US Synthetic specializes in manufacturing polycrystalline diamond (PCD) cutters, including PCD inserts, bearings, and other synthetic diamond-based products used in the oil and gas industry, as well as other applications. With a portfolio of over 600 patents, the company is a key global provider of engineered synthetic diamond products. Founded in 1978, US Synthetic is headquartered in Orem, Utah, just north of Provo.

Source: US Synthetic

Beyond oil and gas, PCD technology is used in precision machining for aerospace, automotive, and electronics manufacturing. It is also essential in construction for road milling and concrete cutting, as well as in woodworking and materials processing. Additionally, PCD is used in advanced fields like optics and quantum technology, as well as in industries such as jewelry making and medical device production.

“We are excited for our future as a standalone business under LongRange’s ownership,” said Rob Galloway, the president of US Synthetic. “LongRange’s resources, capital, and commitment to fostering innovation and sustainable growth make them an ideal partner to support our efforts to deliver leading PCD solutions to our customers and invest in new applications for synthetic diamond technology.”

“By investing in US Synthetic, we’re not just backing a technology leader, we’re also supporting a company that has built a strong culture and reputation in its industry through a relentless focus on its customers’ needs for nearly 50 years,” said Bob Berlin, the managing partner at LongRange. “We look forward to partnering with Rob Galloway and the US Synthetic team to build upon their track record of delivering innovative material technology solutions to the energy industry and broader industrial end-markets.”

ChampionX (NASDAQ: CHX) provides chemical products, artificial lift technologies, and digital automation services used in the oil and gas industry. Its chemical segment, including Nalco Water, helps prevent corrosion and scaling in oilfield operations. The artificial lift business, featuring Lufkin Rod Lift Solutions, supplies pumps and automation technologies to enhance oil well performance. ChampionX, led by CEO Soma Somasundaram, was founded in 1928 and is headquartered in The Woodlands, Texas, with operations across North America, Latin America, Europe, the Middle East, and the Asia-Pacific region.

LongRange Capital makes both control and minority investments of $50 million to $400 million in middle-market businesses with revenues exceeding $200 million. Sectors of interest include non-discretionary consumer, food and beverage, information and data services, packaging, industrial, specialty chemicals, and specialty distribution. LongRange closed its first fund in September 2020 with capital commitments of more than $1.5 billion. The firm was founded in 2019 and is headquartered in Stamford, Connecticut.

© 2025 Private Equity Professional | February 27, 2025

Filed Under: New Platform, Transactions

Canaccord Genuity Hires Aerospace & Defense Pro

February 27, 2025 by John McNulty

Canaccord Genuity has appointed Thomas (Tom) Murphy as a managing director to lead its aerospace and defense investment banking activities within its United States investment banking platform.

Mr. Murphy has more than 25 years of experience advising clients across equity capital markets, mergers and acquisitions, debt advisory, special situations, financial sponsors, and private companies.

Before joining Canaccord Genuity, he served as the head of aerospace and defense at Fifth Third Securities in New York City from 2023 to 2024. Prior to that, he spent three years as a managing director and co-head of aerospace and defense investment banking at Lincoln International in New York City. From 2017 to 2019, he was the global head of Baird’s aerospace and defense group, and from 2008 to 2017, he was a managing director with Stifel Financial in its aerospace and defense group. Mr. Murphy holds an undergraduate degree in business administration from Georgetown University.

Now based in Canaccord Genuity’s New York City office, Mr. Murphy will cover a range of A&D sectors, including aerospace services, machining and engines, defense products, communications and intelligence, defense technology, and security products and services. His focus will be on client development and transaction execution for aerospace, defense, and security companies, particularly those commercializing emerging technology applications.

Canaccord Genuity (TSX: CF) provides institutional and corporate clients with investment banking, mergers and acquisitions, research, and sales and trading services from offices in North America, the UK and Europe, Asia, and Australia.

© 2025 Private Equity Professional | February 27, 2025

Filed Under: News, People

Aurora Continues Build of Universal Pure

February 27, 2025 by John McNulty

Universal Pure, a portfolio company of Aurora Capital Partners, has acquired the high-pressure processing (HPP) assets of Dora’s Naturals.

Aurora acquired Universal Pure, an outsourced provider of high-pressure processing, food safety, and supply chain services for the food industry, in November 2022.

High-pressure processing (HPP) utilizes water and pressure to inactivate food-borne pathogens without chemicals or other additives, ensuring the safety and shelf life of food and beverage products while preserving their nutritional value, taste, and texture.

Source: Universal Pure

With this acquisition, Universal Pure now operates 22 HPP machines across seven locations—spanning a combined 1.1 million square feet—in California, Connecticut, Georgia, Nebraska, Ohio, Pennsylvania, and Texas. The company’s facilities are strategically positioned within a truck-day of all major food production hubs in the United States.

The acquisition of Dora’s HPP assets is the second acquisition closed by Universal Pure under Aurora ownership. The first buy was the purchase of the HPP assets of Katy, Texas-based Texas Food Solutions in April 2023.

“We are very excited to welcome and continue the tradition of high-quality service to Dora’s HPP customers. We are also eager to enhance our HPP capacity within the Northeast region of the United States,” said Frank Jimenez, the CEO of Universal Pure.

According to Lincoln, Nebraska-based Universal Pure, it is the largest independent provider of HPP services in North America. In addition to HPP services, Universal Pure offers refrigerated and frozen storage, beverage bottling, kitting and assembly, tempering, and other critical cold chain services.

Privately held Dora’s Naturals, founded in 1999 and headquartered near New York City in South Hackensack, New Jersey, specializes in natural, organic, and specialty food and beverage distribution, third-party logistics, and HPP services. Dora’s serves more than 4,000 traditional supermarkets, natural food stores, drug stores, independent specialty retailers, and on-premise/food-service locations across the Northeastern United States, from Virginia to New Hampshire.

With the sale of its HPP business to Universal Pure, Dora’s will now focus on its core distribution operations while entrusting its former HPP customers to Universal Pure.

Source: Universal Pure

“While exiting the HPP business is bittersweet, this transaction allows us to further focus our energies and resources on our core distribution business,” said Cyrus Schwartz, CEO of Dora’s. “We are confident that Universal Pure will continue to provide excellent service to all our customers.”

Aurora Capital makes control investments of $50 million to $300 million in industrial, manufacturing, and service-oriented businesses valued between $100 million and $500 million. The firm focuses on sectors including industrial services and distribution, engineered products, and technology-enabled services. Aurora Capital was founded in 1991 and is headquartered in Los Angeles.

© 2025 Private Equity Professional | February 28, 2025

Filed Under: Add-on, Transactions

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