Allied Industrial Partners (AIP) has held a final and above target closing of its oversubscribed debut fund, Allied Industrial Partners I-A and I-B LP (Fund I), at its $300 million hard cap. The new fund’s original target was $250 million.
Institutional investors in Fund I include pensions, insurance companies, financial institutions, foundations, funds-of-funds, and family offices. Additionally, more than 10% of the fund’s capital was committed by members of Allied’s senior team. With the close of Fund I, AIP now has more than $1 billion in assets under management.
“Allied was founded on the principle of applying deep operational expertise to high-growth industrial businesses, and we are grateful for the trust and support of our investors and other supporters,” said Bradford Rossi and Philip Wright, co-founders and managing partners of AIP, in a released statement. “Fund I enables us to accelerate our proven strategy of driving operational improvements to scale sustainable, resilient industrial platforms.”
Today, AIP has expanded into a 15-person team with both financial and operational capabilities. Prior to raising Fund I, Allied invested over $200 million of equity across five investments between November 2020 and December 2023. AIP expects that Fund I will be more than 70% deployed and allocated by the end of 2025.
Since its founding in 2019, Allied has made 7 platform investments and completed 30 add-ons including Dovetail Infrastructure Services, a Texas-based developer and operator of utility-scale water infrastructure projects (2020 to 2024); CES Power, a Florida-based provider of mobile power and temperature control for live events (2021); Waste Eliminator, a Georgia-based waste management company (2021); Wall Recycling, a North Carolina-based waste management company (2022); Mat Tech Industrial Services, a Texas-based provider of rental and environmental services (2023); Celebrity Coaches, a Tennessee-based provider of transportation services for live entertainment events across the US (2024); and JCL Energy, a Pennsylvania-based manufacturer and provider of support services for transformers and electrical components (2024). Both Celebrity Coaches and JCL Energy were invested through Fund I.
Both Celebrity Coaches and JCL Energy are portfolio companies of Fund I.
“Over the past six years, we have built Allied into a firm that is deeply engaged with its portfolio companies and uniquely positioned to create lasting value,” added Messrs. Rossi and Wright. “Fund I is a testament to the strong relationships we have cultivated with our investors and management teams, and we are excited to deploy this capital into opportunities that align with our investment philosophy. We look forward to building on this momentum as we continue to identify and scale the next generation of industrial leaders.”
Allied Industrial invests in lower and middle-market companies with EBITDA from $5 million to $30 million. Sectors of interest include industrial rentals, manufacturing, distribution, environmental services, and infrastructure. The firm was founded in 2019 and is headquartered in Houston.
© 2025 Private Equity Professional | April 30, 2025
Amberjack Capital Partners has acquired Industrial Thermal Services, a provider of industrial field services.
“We are thrilled to partner with Ryan and the ITS team,” said Jason Turowsky, a managing partner at Amberjack. “ITS has built an exceptional business with a strong culture of safety, quality, and customer focus. We look forward to supporting the continued growth of the platform through our investment and partnership.”
Splash Car Wash, a car wash operator in the Northeast US and a portfolio company of Palladin Consumer Retail Partners, has been acquired by AEA Investors.
“Splash is a premier player in a fragmented market and space we know well, and we are excited by the Company’s robust prospects for growth,” said Dan Schorr, a partner at AEA Investors. “We are thrilled to join forces with Dan, Mark, and the entire Splash team, and we look forward to working in partnership with them as they execute on their mission to strategically expand and set new industry standards for quality service.”
“Working alongside Dan Petrelle, Mark Curtis, and the entire Splash team has been a tremendous experience,” said Mark Schwartz, the CEO of Palladin Consumer Retail Partners. “We are pleased to have supported the team as they built a leading car wash operator in the Northeast, and we are excited to see what the future holds for Splash.”
Escalate Capital Partners has held a final closing of its fifth fund, Escalate Capital V LP, with $350 million in committed capital.
“As we celebrate our 20th anniversary in 2025, we’re excited to work with innovative late-stage companies and provide them with the financing solutions they need to scale,” said Tony Schell, co-founder and general partner of Escalate. “Fund V is key to meeting this objective.”
Commercial Bakeries Corporation, a portfolio company of Graham Partners, has acquired wire cut and rotary molded cookie-maker Hollandia Bakeries.
Toronto-headquartered 
“We are excited to add Hollandia to the Commercial Bakeries platform as it broadens and diversifies the company’s set of core product offerings,” said Andrew Snyder, a managing principal at Graham Partners.
“We look forward to partnering with the Hollandia team to deliver Commercial Bakeries’ strong R&D capabilities and focus on custom offerings to the customers Hollandia has traditionally served,” concluded Kedar Shirole, a vice president at Graham Partners.
StenTech, a maker of surface mount technology (SMT) stencils and a portfolio company of Align Capital Partners (ACP), has merged with BlueRing Stencils.
StenTech
“This merger strengthens our ability to support our customers with the most advanced solutions in the industry while continuing to drive innovation and operational excellence,” said Mr. Keene. “By combining our expertise, we are setting a new standard in precision manufacturing, reinforcing our commitment to service excellence and long-term industry leadership.”
Littlejohn Capital has acquired 3P Processing, a provider of specialized surface finishing and metal processing services for the aerospace sector, from Spell Capital.
“Customers rely on 3P Processing for their difficult-to-accomplish processing challenges due to the company’s comprehensive list of approvals and certifications and focus on lead times,” said Angus C. Littlejohn III, the president of Littlejohn Capital. “3P boasts best-in-class quality metrics which has propelled it to a market leading position and embedded, long-term customer relationships.”
Coral Tree Partners has closed a minority investment in Innovative Artists Entertainment (IAE), a full-service talent agency. Coral Tree’s investment is the first-ever institutional investment in IAE.
“We are grateful to be entering into a true strategic relationship with Innovative at the agency’s exciting growth stage,” said Will Wynperle, a founder and partner at Coral Tree. “We have long admired Innovative’s unwavering commitment to client representation and are grateful to partner closely with Scott and the agency’s senior management team. Together, we look forward to driving growth while keeping the focus on client representation first and foremost with an eye on 360-degree client service. At this time of unprecedented demand for premium content, Innovative is uniquely poised for long-term success.”
Bertram Capital has acquired a majority interest in APPLIED Adhesives, a distributor and formulator of industrial adhesive products, from Arsenal Capital Partners.
“APPLIED Adhesives has established itself as a leading partner to both customers and manufacturers in the specialty adhesives product category,” said Kevin Yamashita, a partner at Bertram Capital. “The company’s strong customer relationships, technical capabilities, and proven M&A playbook provide an ideal foundation for continued growth, both organically and through strategic acquisitions. We intend to leverage the capabilities of our in-house technology team, Bertram Labs, to find opportunities to drive revenue growth, support M&A integration and improve business efficiencies.”
“We are incredibly proud of what the APPLIED Adhesives team has accomplished during our partnership,” said Roy Seroussi, an investment partner at Arsenal. “Under John Feriancek’s leadership, APPLIED has nearly tripled sales, executed and integrated a series of strategic acquisitions, and meaningfully strengthened its value proposition and market reach. The team’s focus and execution have firmly established APPLIED as a leading innovator in the value-added distribution market. We are grateful to the entire APPLIED organization for its dedication in driving this successful outcome.”
Rockbridge Growth Equity has sold its majority ownership in GSTV, a national video network operating across fuel and convenience retailers, to MidOcean Partners. As part of the transaction, Rockbridge will retain a minority stake in the business.
“Through our partnership with the GSTV team, we successfully transformed the business to realize new opportunities in an evolving media landscape,” said Brian Hermelin, a managing partner and co-founder of Rockbridge. “Rockbridge understood that advertisers need new channels to reach today’s consumers, and GSTV has delivered a captive audience that we believe has more potential to grow. We look forward to supporting the GSTV and MidOcean teams as the company embarks on its next chapter.”
Local Crafts Group, a portfolio holding company of Blue Point Capital Partners, has acquired Jimmy Beans Wool, a specialty crafts retailer and distributor.
In 2014, Blue Point Capital Partners’ third fund formed 
“This is a transformative moment for the business — we’re excited to support Local Crafts and Jimmy Beans in their next phase of growth, delivering even more value to those who craft and create,” said Sean Ward, a partner at Blue Point.
SK Capital Partners has named John Novak as a managing director and head of business development. Mr. Novak has more than 20 years of experience in private equity and investment banking.
“I am excited to join SK Capital as Head of Business Development and look forward to working alongside the firm’s talented team to help drive continued growth and success,” said Mr. Novak.
Monogram Capital Partners and Halmos Capital Partners have acquired a majority interest in The Vasco Group, a sports surfaces company. The buy of Vasco is Monogram’s second platform investment for its third fund.
“Matt, Glen, Zach, and their team have established Vasco and Nidy as leaders in the sports surfaces industry, driven by an unwavering commitment to quality and customer service over the past two decades,” said Daniel Adan, a partner at Halmos Capital. “We look forward to supporting the Vasco and Nidy teams to extend their best-in-class expertise into new and adjacent markets nationwide.”
“We are excited about locking arms with Monogram and Halmos as our preferred partners given their track records working with closely held businesses and multi-unit platforms alongside the deep operational best practices they bring to bear,” said Mr. Savage. “Together, we will build upon the strong foundation that the existing team has worked hard to establish in order to take the company to new heights and further amplify our market leading position both in Ohio and Florida, as well as new markets we develop and acquire.”
Brown Gibbons Lang & Company has added Michael Doyle to its team as a managing director in its consumer investment banking group.
“I’m thrilled to be joining the consumer team at BGL. Their expertise with eCommerce models, in particular, is the best in the market and a great complement to my areas of focus and experience,” said Mr. Doyle. “I look forward to collaborating with the team and contributing to the firm’s continued success.”
ACON Investments has sold Kept Companies, a provider of commercial and industrial cleaning services, to DFW Capital Partners.
“Our investment in Kept exemplifies ACON’s strategy of backing great businesses at pivotal inflection points and assisting them in reaching their next stage of development,” said Ken Brotman, a founding partner at ACON. “We are proud to have helped institutionalize and grow the company while preserving its entrepreneurial culture and customer-first mindset. It has been a pleasure working alongside Anthony and Jerry DiGiovanni and the entire Kept team to build a business positioned to lead its industry for years to come.”
“We are extremely proud of Kept’s growth and business transformation over the course of our ownership,” said Mo Bawa, a managing partner at ACON. “Working closely with Kept’s management team, we meaningfully diversified and expanded the company’s service offering, ultimately leading to a corporate rebranding and accelerated growth – both organic and through over 30 add-on acquisitions. We also implemented industry-leading operational and technology systems across the platform. We believe Kept is exceptionally well-positioned for its next phase of growth.”
New York City-headquartered 
Lockmasters, a portfolio company of Dominus Capital, has acquired Astic Signals Defenses.
AMPAM Parks Mechanical, a portfolio company of Gemspring Capital, has acquired Seal Electric.
LongueVue Capital has invested in Daedalus Industrial, a provider of building management and control systems.
“We are thrilled to partner with Austin Jones, Buff Williams, and the exceptional Daedalus team,” said Max Vorhoff, a partner at LongueVue. “In record time, Daedalus has distinguished itself as the trusted solutions provider in high-stakes sectors experiencing explosive growth, particularly within cutting-edge AI data center infrastructure. We look forward to supporting the team as they broaden their capabilities and service portfolio.”
“We were more than happy to support another innovative, high caliber transaction brought to us by the LongueVue team,” said Tim Clifford, the CEO of Abacus. “As in past transactions with them, our success was a function of our speed, structural flexibility, and certainty of close – key aspects of what we call our Total Partnership Approach.”
“Since inception in 2001, LVC has been making investments in mission critical industrial infrastructure companies,” said John McNamara, CEO and co-founder at LongueVue Capital. “Daedalus is a fine example of this, serving rapidly growing digital ecosystem buildouts in data center infrastructure and industrial automation.”
“LongueVue is always a strong partner and great to work with,” added Eric Petersen, a managing director at Abacus. Working on the transaction with Mr. Petersen was Senior Associate Greg Scanlon.