Archives for November 3, 2025

Granite Creek and Canterbury Expand Cutting Tools Platform

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Peak Toolworks, a subsidiary of DBW Holdings, a portfolio company jointly owned by Granite Creek Capital Partners and Canterbury Ventures, has acquired Southern Carbide, a provider of industrial tooling and sharpening services.

DBW Holdings was formed in June 2021 following Granite Creek and Canterbury’s acquisition of Diamond Blade Warehouse. In December 2023, DBW Holdings acquired Peak Toolworks, with both Diamond Blade Warehouse and Peak Toolworks continuing to operate as separate businesses under the holding company.

Diamond Blade Warehouse (DBW) is a distributor and manufacturer of diamond-tipped cutting tools serving construction, masonry, and related trades. Its product offerings include segmented blades for concrete and asphalt, continuous rim blades for ceramics and tile, and coring products for reinforced concrete. The company’s customer base includes contractors, rental companies, and construction suppliers across North America. Founded in 1987, DBW is headquartered near Chicago in Wheeling, Illinois, with distribution facilities in Illinois, California, Texas, and New Jersey.

Peak Toolworks manufactures and services engineered diamond and carbide cutting tools used in woodworking, metalworking, and advanced materials manufacturing. Its offerings include Peak Edge carbide saw blades, Peak Diamond composites tooling, and Tooling Performance Programs that combine sharpening, audits, and maintenance services.

Source: Peak Toolworks

The business serves manufacturers of cabinets, flooring, windows, and custom wood and metal components. Peak Toolworks originated in 1941 as Onsrud Cutter, adopting its current name after a series of mergers among regional tooling operations. The company is headquartered in Jasper, Indiana, with additional operations in Wisconsin, North Carolina, Pennsylvania, and Ontario.

Southern Carbide, founded in 1997 and based in Shreveport, Louisiana, provides sharpening, repair, and tooling services specializing in carbide and diamond-cutting applications. Its customers primarily operate in the wood products (plywood, particleboard, engineered panel) and metal fabrication sectors across North Louisiana, South Arkansas, East Texas, and Southeast Oklahoma.

Source: Southern Carbide

“Southern Carbide’s service-first philosophy is a natural fit with Peak Toolworks’ approach to complete tooling solutions,” said Ron Bayus, CEO of Peak Toolworks. “Together, we’re combining deep technical expertise, superior service, and regional reach to ensure customers have access to the highest-performing tools and support in the industry.”

Granite Creek invests between $10 million and $20 million in companies generating $25 million to $100 million in revenue and $3 million to $15 million in EBITDA. Its focus areas include business services, food and agribusiness, healthcare, and niche manufacturing and distribution. In November 2023, Granite Creek closed its third investment fund at $300 million, surpassing its target. Granite Creek, founded in 2005, is headquartered in Chicago.

Chicago-headquartered Canterbury Ventures, the family office of W. James Farrell, former chairman and CEO of Illinois Tool Works, invests primarily in industrial products, manufacturing, business services, and specialty distribution companies.

Branford Castle Adds Integrated Rectifier to GPT Industries

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GPT Industries, a portfolio company of Branford Castle Partners, has acquired Integrated Rectifier Technologies.

Branford Castle acquired GPT Industries, a manufacturer of pipeline sealing and electrical isolation products, from publicly traded EnPro Industries in January 2023. The acquisition of Integrated Rectifier Technologies is the first add-on for GPT under Branford Castle ownership.

Integrated Rectifier manufactures and services transformer rectifiers and other related technologies used to mitigate corrosion in pipelines, tanks, and offshore structures. Customers of the company are active in the oil and gas, water utilities, and infrastructure sectors. Integrated Rectifier was founded in 2001 and is headquartered in Calgary, Alberta.

Cathodic protection systems are used to prevent corrosion on metal pipelines, especially those buried underground or underwater. These systems work by applying a small electrical current to the pipeline, making it the “cathode” in an electrochemical circuit, which stops the metal from rusting. Commonly used in oil, gas, and water infrastructure, cathodic protection significantly extends pipeline life and helps prevent costly leaks or environmental damage.

Integrated Rectifier’s primary products include SCR transformer rectifiers, switch mode rectifiers, and monitoring accessories. SCR rectifiers (Silicon Controlled Rectifiers) and switch mode rectifiers both convert AC to DC power but differ in size, efficiency, and technology. SCR rectifiers use thyristors (an electronic switch that controls electricity flow) and are larger, more rugged, and well-suited for harsh environments like remote pipeline sites. Switch mode rectifiers use high-frequency switching, making them smaller, more energy-efficient, and easier to control, but they can be more sensitive to environmental conditions.

GPT Industries produces flange isolation kits (FIKs) and monolithic isolation joints (MIJs) that are used in oil, natural gas, and water pipeline applications to prevent pipeline failures and protect against potential explosions, fires, and pollution. A FIK is a set of components designed to provide protection against vibration, noise, and thermal expansion in pipelines. The kit typically includes a gasket, sleeves, and fasteners. A MIJ is a solid block with no moving parts that provides an electrical break between segments of the pipeline.

Source: GPT Industries

GPT’s product portfolio includes Pikotek insulating gaskets, LineBacker sealing systems, and the IsoJoint monolithic isolation joint, all engineered to prevent pipeline corrosion, ensure flange integrity, and enhance operational safety. GPT is led by President Darin Lane and is headquartered in Denver.

“Together, we’ll enhance the technologies that support corrosion mitigation efforts, improve monitoring capabilities, and ultimately deliver greater value to our partners,” said Mr. Lane. “We look forward to working together to offer customers more products and solutions.”

“The energy and infrastructure sectors are seeing increased demand for pipeline safety solutions that bolster product reliability and deliver innovation for the future,” said Marilyn Yang, a principal at Branford Castle. “This combination will enable both companies to extend their impact across new and existing industries, and we’re excited to support the GPT team as they accelerate growth.”

The pipeline sealing, cathodic protection, and infrastructure integrity sector is seeing a steady rise in demand as regulators tighten safety standards and operators contend with aging assets. Energy and utility companies are putting more money into corrosion prevention, leak detection, and remote monitoring systems to stay compliant and keep equipment running longer. The focus now is on lifecycle management—using data to predict failures before they happen and avoid expensive, unplanned shutdowns. According to Grand View Research, the market is moving toward integrated systems that tie together sealing technologies, cathodic protection, and digital asset tracking to extend asset life and improve overall reliability.

Branford Castle invests in companies that have enterprise values of up to $100 million and EBITDA of less than $15 million. Sectors of interest include consumer products and services, commercial distribution, industrials and specialty manufacturing, business services, and logistics. Branford Castle was founded in 1986 and is led by President and CEO John S. Castle and Managing Partner David Castle.

Big Rig? Big Repair? Call Tricor’s Big Country

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Tricor Pacific Capital has acquired Big Country Equipment Repair, a provider of heavy equipment maintenance and repair services.

Big Country’s services include on-site diagnostics, mechanical repairs, and preventative maintenance performed by a team of mechanics, welders, machinists, electricians, and fuel and lube technicians. In addition to its repair capabilities, the company is an authorized distributor of industrial products and components from brands such as Epiroc SED Equipment, Safe Gauge, National Plastics, and Phillips 66.

Source: Big Country Equipment Repair

Customers of Big Country include construction, mining, and forestry companies that operate in remote and demanding environments across Canada. These companies rely on Big Country to keep heavy machinery operational in remote and demanding environments, reducing downtime and optimizing productivity.

Big Country was founded by President and CEO Spencer Harrison and is headquartered 220 miles northeast of Vancouver in Kamloops, British Columbia.

“This partnership represents an exciting new chapter for our team,” said Spencer Harrison, President and CEO of Big Country. “Tricor’s experience, resources, and values align perfectly with our culture and growth ambitions. With their support, we’re poised to expand our reach, enhance our capabilities, and continue delivering exceptional service to our customers.”

“We are thrilled to welcome Big Country Equipment Repair into the Tricor family,” said Shawn Lewis, the CEO and Managing Director of Tricor. “Spencer and his team have built an inspiring business that exemplifies operational excellence and customer commitment. This partnership strengthens our industrial platform and aligns with Tricor’s vision to invest in outstanding businesses led by exceptional people. Together, we look forward to accelerating Big Country’s growth and expanding its service capabilities across Canada and beyond.”

The heavy equipment repair and maintenance services industry is experiencing sustained growth, supported by rising global infrastructure investment, longer equipment lifecycles, and increased outsourcing of maintenance operations. Infrastructure spending is a primary driver. According to the Global Infrastructure Hub, global infrastructure investment needs are projected to exceed $94 trillion by 2040, with significant demand coming from transportation, energy, and resource-intensive sectors. This capital investment leads to higher utilization of construction, mining, and logistics equipment, increasing the frequency and complexity of maintenance services.

Source: Big Country Equipment Repair

Another key factor is the extension of heavy equipment replacement cycles. Rising input costs, supply chain disruptions, and capital preservation strategies have led operators to retain machinery for longer periods. As a result, demand has shifted toward preventive maintenance, refurbishment, and diagnostics. A report by Deloitte notes that equipment maintenance backlogs and fleet aging have created new pressure on aftermarket service providers across construction and industrial markets.

Tricor Pacific Capital is a family office that makes control investments in companies with EBITDA of $5 million to $25 million that are active in the food, industrial products, transportation and logistics, building products, and business services sectors. The firm invests across Canada and the Mid-West to Western United States. Tricor Pacific was founded in 1996 and is headquartered in Vancouver.

Insignia Hard Caps Fund III

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Insignia Capital Group has closed its third fund, Insignia Capital Partners III LP, with over $500 million in capital commitments. The new fund surpassed its $375 million target and closed at its hard cap.

Limited partners in Fund III include both returning limited partners and a select group of new investors. Insignia’s second fund closed in 2021 with $400 million in capital, and its inaugural fund closed in 2016 with $358 million in capital.

“Achieving this outcome in a challenging fundraising environment is a privilege and an affirmation of our strategy and the trust our limited partners place in us,” said David Lowe, a managing partner at Insignia.

Insignia Capitalmakes both control and influential minority equity investments of $20 million to $100 million in lower middle-market companies that have at least $20 million of revenue and $5 million of EBITDA. Sectors of interest include business and tech-enabled services companies, and consumer brands and products.

Last month, Insignia made an investment in Tidal Financial Group, a New York City-headquartered provider of ETF (exchange traded fund) infrastructure and advisory services to asset managers launching and scaling ETFs. As of September 2025, Tidal supports over 270 ETFs with $45 billion in assets under management and launched 89 new ETFs in 2025 alone.

“Closing the fund is only the beginning—we recognize the significant responsibility we have to the foundations, endowments, pension plans and investors that have entrusted us to deliver strong performance on behalf of their beneficiaries,” said Tony Broglio, a managing partner at Insignia.

Insignia was founded in 2011 and is headquartered near San Francisco in Walnut Creek.

M2O Private Fund Advisors was the placement agent for this fundraise, and Kirkland & Ellis provided legal services.