Avista Healthcare Partners has sold Solmetex, a provider of dental products and systems, to AGIC Capital. Avista is maintaining a minority equity investment in Solmetex in partnership with AGIC Capital.
Solmetex manufactures amalgam separators and other waste compliance products that remove mercury from dental wastewater created by the removal of amalgam fillings. Amalgam fillings contain a mixture of metals, consisting of liquid mercury and a powdered alloy composed of silver, tin, and copper. Approximately half of a dental amalgam is mercury by weight.
Prior to 2017, dental offices typically disposed of amalgam waste down the drain, with the wastewater then processed by sewage treatment plants, which in many cases were not designed to treat or recycle mercury or other heavy metals. Dental amalgam is the largest source of mercury received by U.S. treatment plants. In 2017, the Environmental Protection Agency (EPA) implemented regulations requiring dental practices to incorporate amalgam separators in their drainage systems.
In addition to its amalgam separators, Solmetex provides its dental customers with Sterisil water purification products for dental unit waterlines, DryShield for hands-free dental isolation, Impladent regenerative biomaterials for oral surgery and implant procedures, as well as recycling, disposal, and compliance certification services.
Avista acquired Solmetex in January 2021, and during its ownership completed three add-on acquisitions: Sterisil in April 2022, DryShield in April 2022, and Impladent in June 2023.
Solmetex, led by CEO Gene Dorff, was founded in 1994 and is headquartered 37 miles west of Boston in Northborough, Massachusetts.
“We have greatly valued our partnership with the Solmetex management team, supporting their significant growth over the past four years,” said Sriram Venkataraman, a partner at Avista. “Solmetex’s impressive trajectory has been further bolstered by three strategic acquisitions during our partnership, including Sterisil, DryShield, and Impladent.”
Avista Healthcare Partners makes control or influential minority investments in growth-oriented healthcare businesses, with specific interests in outsourced pharma and medtech services, consumer healthcare, medical devices, specialty and generic pharmaceuticals, distribution and diagnostics, and healthcare technology. The firm was founded in 2005 and is headquartered in New York City.
AGIC Capital is an investor in mid-sized companies with established revenue streams and EBITDA growth potential, particularly in automation, medical technologies, and advanced manufacturing. The firm was founded in 2015 and is headquartered in Hong Kong, with additional offices in Munich, Germany. AGIC Capital closed its most recent fund, AGIC Fund II, in 2021 with $1.2 billion in committed capital.
© 2025 Private Equity Professional | March 20, 2025
Blue Point Capital Partners has sold its portfolio company Sylvan, a provider of industrial pipe installation and fabrication services, to E3Tech. As part of the transaction, Blue Point made a minority investment in Sylvan. Blue Point acquired Sylvan in March 2018 through its $425 million third fund, which closed in November 2014.
“Working alongside the Sylvan team has been a rewarding experience, and we are proud of what we have created together,” said Jonathan Pressnell, a partner at Blue Point. “Collectively, we have implemented operational enhancements, including the addition of key personnel, new services and geographies and the roll out of multiple technology enhancements, including ERP, project and safety management tools and artificial intelligence, to drive efficiency and data-driven decision making.”
“We are delighted to invest in a management team that has demonstrated excellent growth supporting highly sophisticated customers on mission-critical projects,” said Mr. Adolf. “Sylvan is well positioned to benefit from strategic reshoring and supply chain resiliency initiatives and support the strong demand for AI data centers and energy infrastructure projects. Sylvan will be an ideal partner for many smaller and medium-sized companies in the mechanical, electrical, and plumbing (MEP) space.”
Industrial Growth Partners has acquired SENS Holdings, a designer and manufacturer of energy systems.
“We are thrilled to partner with IGP as we embark on the next phase of SENS’ growth,” said Mr. Kaewert. “Their decades of experience in the industrial sector and infrastructure-related end markets combined with their growth-oriented mindset made them our partner of choice to carry on the legacy of my family’s company and support SENS’ entrepreneurial culture. We look forward to leveraging IGP’s resources to steward SENS through its next chapter as we continue to rapidly grow and scale the business.”
Ridgeline Roofing & Restoration, a provider of residential and commercial roofing services, has acquired Signature Exteriors.
Charlotte, North Carolina-based 
“We are excited to partner with Michael and his team to expand Signature’s capabilities in North Carolina,” said Chris Baldus, CEO of Ridgeline. “Our teams share a deep commitment to delivering high-quality service to our customers. This partnership presents significant opportunities for both our customers and employees.”
Levine Leichtman Capital Partners (LLCP) has sold Encore Fire Protection, a provider of fire protection services, to Permira at a $1.8 billion enterprise value.
“We are very proud of what Encore has accomplished since we invested in the company,” said Micah Levin, a partner at LLCP. “We wish Encore all the best in their next chapter of growth with Permira.”
“Route-based services has long been a core LLCP investment vertical, and the significant growth and transformation of Encore during our ownership is a prime example of our sector expertise and value-creation playbook at work,” said Ted Jeon, a managing director at LLCP.
Permira is a European private equity firm with total committed capital of approximately €60 billion. Its sectors of interest include technology, consumer, healthcare, and services. The firm was founded in 1985 and is headquartered in London.
J.F. Lehman & Company (JFLCO) has acquired a majority stake in W.S.S. Holding A/S (WSS) and its subsidiaries (collectively, Wrist), a marine supply and logistics provider. The acquisition of Wrist was completed in partnership with existing shareholder Altor Equity Partners and members of the company’s senior management team.
“Wrist has built a world-class reputation for simplifying the maritime supply chain through its integrated, end-to-end service offerings and efforts to lead the digitization of this sector,” said Alex Harman, a partner at J.F. Lehman & Company and a new director of Wrist. “We are thrilled to partner with the Wrist team as well as Altor and welcome the company to the J.F. Lehman & Company portfolio.”
“Wrist is an outstanding fit with our investment strategy,” said Will Hanenberg, a managing director at J.F. Lehman & Company and the new chairman of Wrist. “Its strong positioning with blue-chip customers, differentiated logistics capabilities, and innovative digital solutions are transforming the maritime supply chain. We are eager to support the company’s growth ambitions and long-term success.”
Trivest Partners has closed the sale of HighGround Restoration Group to Knox Lane.
“HighGround was an exciting investment for Trivest from day one. Over our five-year investment period, we had the opportunity to bring 14 terrific family-owned businesses into the HighGround/Trivest family,” said Forest Wester, a managing partner at Trivest Partners, who led the HighGround investment. “Each acquired company was a leader in its geographic market, and, by bringing these businesses together, we have built a unique platform in the water damage mitigation and restoration space.”
San Francisco-based 
J.F. Lehman & Company has completed the sales of Integrated Global Services (IGS) to American Securities, and Global Marine Group (GMG) to Keppel Capital.
“We are excited to complete this investment in GMG. It is a rare and unique opportunity to acquire a world-leading provider of subsea cable maintenance and installation services,” said Christina Tan, the chief investment officer of Keppel. “With a substantial proportion of GMG’s business secured by long-term contracts with huge growth potential, especially in Asia, we are poised to deliver attractive risk-adjusted returns to our investors.”
The Sterling Group has sold Frontline Road Safety, a provider of pavement marking and related services, to Bain Capital.
“Since launching the Frontline platform in 2020, Sterling has been proud to support the company’s tremendous growth and expansion,” said Brad Staller, a partner at Sterling. “We would like to thank Mitch, the excellent field leaders, and the entire Frontline team for their leadership and partnership in building Frontline. We believe the company remains well-positioned to continue expanding its services and geographic footprint.”
“Frontline is a high-quality business providing mission-critical services, led by a proven management team that has done an impressive job of growing the business through a series of acquisitions and organically, while maintaining a commitment to operational excellence,” said Joe Robbins, a partner at Bain Capital. “We look forward to a collaborative partnership with Mitch and his talented team to help accelerate Frontline’s acquisition strategy and scale the company’s best-in-class platform.”
Pelican Energy Partners has acquired United Services Group (USG), a specialty contractor providing welding, machining, and fabrication services.
“Our investment in USG reflects our continued commitment to investing across the energy services sector,” said Mike Scott, a managing partner and founder of Pelican Energy. “We are excited to partner with USG as they continue to deliver exceptional value for their customers and employees in a critical area within the energy services value chain.”
Houston-headquartered 
