|
|
| September 19, 2017 |
Year 10 Volume 9 Issue 12
|
|
 |
Good afternoon all -
Sun Capital Partners has acquired
AMES Taping Tools, a provider of tools and supplies used by residential and commercial interior contractors in drywall finishing applications, from
Aurora Capital and
Saybrook Capital which had acquired the company in March 2010 through a section 363 sale of assets. Well, I guess this is the clincher. The housing-induced great recession is finally over. I hope I didn't just jinx the recovery.
Congrats to
Michelle Eidson on her new position as Managing Director and Head of Business Development at Chicago-based
Shorehill Capital. Michelle was previously a Vice President and head of Marketing and Business Development for Denver-based
Platte River Equity. If you're curious, Shorehill makes control investments in North American-based middle market companies that have from $3 million to $15 million in EBITDA and enterprise values of $25 million to $150 million. Sectors of interest include engineered industrial products, industrial services, and value-added distribution.
And, in case you missed it from yesterday, Chicago-based
Water Street Healthcare Partners
has begun raising its fourth fund -
Water Street Healthcare Partners IV LP
- with a target of $800 million. The firm's earlier fund closed in July 2012 at its cap of $750 million. Water Street invests from $50 million to $500 million in companies that are active in four health care sectors: medical and diagnostic products and devices; specialty distribution; outsourced health care services; and specialty pharmaceutical products and services. The firm has particular expertise in corporate divestitures from healthcare companies.
Have a great day everyone.
John P. McNulty
Publisher
Private Equity Professional
|
|
|
|
Today's News and Transactions
|
|
Brixey & Meyer Acquires 3 Sigma
|
Brixey & Meyer Capital has acquired 3 Sigma, a provider of adhesive coated materials to converters and manufacturers. 3 Sigma's adhesive materials are used in applications in the automotive, food, consumer products, medical and marketing industries. 3 Sigma's products can be found in coated materials used in applications such as press and seal consumer packaging...Read More
|
|
|
Platinum to Sell NILCO to U.S. Lumber
|
Platinum Equity has signed an agreement to sell NILCO, a wholesale distributor of specialty building materials, to U.S. Lumber, a portfolio company of Madison Dearborn Partners since March 2017. Platinum Equity acquired NILCO in September 2016. The sale is expected to close during the fourth quarter. NILCO (formerly National Industrial Lumber Company) was founded in...Read More
|
|
|
Sun Capital Acquires AMES Taping Tool
|
Sun Capital Partners has completed the acquisition of AMES Taping Tools, a provider of automatic taping and finishing (ATF) tools and supplies that are used in drywall finishing applications. Sun Capital acquired the company from Aurora Capital Group and Saybrook Capital which had acquired AMES in March 2010 through a section 363 sale of assets...Read More
|
|
|
New Managing Director at Shorehill
|
Shorehill Capital has hired Michelle Eidson as the firm's newest Managing Director and Head of Business Development. In her new position with Shorehill, Ms. Eidson is responsible for the firm's business development and investment sourcing initiatives. She will focus on establishing and maintaining relationships with investment banking firms, business brokers...Read More
|
|
|
|
Important News You Might Have Missed
|
|
Frontenac Buys Schlotterbeck & Foss
|
Schlotterbeck & Foss, a manufacturer of specialty sauces and condiments, has been acquired by Frontenac in partnership with the company's management team. Abacus Finance Group provided the senior debt for this transaction and also made an equity co-investment. Schlotterbeck & Foss (S&F) develops, manufactures and distributes a range of gourmet sauces, marinades...Read More
|
|
|
H.I.G. Sells Accupac to J.H. Whitney
|
H.I.G. Capital has sold its portfolio company Accupac to J.H. Whitney Capital Partners. H.I.G. acquired Accupac in April 2003. Accupac is a provider of outsourced manufacturing and packaging services to large pharmaceutical and over-the-counter (OTC) personal care product manufacturers. The company specializes in liquid topical and oral care products, including skin creams, toothpastes...Read More
|
|
|
ParkerGale Adds Cici Zheng as Principal
|
Cici Zheng has joined ParkerGale Capital as a Principal. Ms. Zheng is the fourth new team member to join ParkerGale since the firm closed its debut fund above target in November 2016 with $240 million of capital. Ms. Zheng will be active with investment due diligence and will also take a lead role working with portfolio companies on growth strategies by...Read More
|
|
|
Russell Cassella Joins Revelstoke
|
Revelstoke Capital Partners has added Russell Cassella to its team as a new partner of the firm. "Our team has worked closely with Russ for many years and we value his transaction sourcing, deal execution, and strategic insight immensely," said Simon Bachleda, Managing Partner and Co-Founder of Revelstoke. "We look forward to having Russ be an integral member...Read More
|
|
|
Andy Greenberg Joins TM Capital
|
Andrew Greenberg has joined TM Capital as a Senior Advisor. Mr. Greenberg, who is also the CEO of GF Data, will be based in TM's New York office. "We're very pleased to welcome Andy to the TM Capital team," said Jim Grien, President and CEO of TM Capital. "Andy brings us decades of transactional experience and a wealth of relationships for which...Read More
|
|
|
MSD Partners Acquires Ring Container
|
MSD Partners has agreed to buy Ring Container Technologies, one of the largest plastic container manufacturers in North America, from Carl Ring and his family. Ring Container is a blow molder of high-density polyethylene (HDPE) and polyethylene terephthalate (PET) plastic bottles that are sold to the food service, retail food and other end-use markets...Read More
|
|
|
Continental Buys Satellite Vending
|
Continental Services, a portfolio company of New Heritage Capital, has acquired Satellite Vending Company, a subsidiary of VendTek Wholesale Equipment. This is the first add-on acquisition completed by Continental since being acquired by New Heritage in February 2017. Satellite Vending is a provider of vending, micro-market and office coffee services to more than a hundred...Read More
|
|
|
AE Industrial Partners (AEI) has closed its acquisition of publicly-traded CDI Corp., a provider of engineering, information technology, and staffing services, for approximately $157 million. CDI (NYSE: CDI) is a provider of engineering, information technology, and staffing services to customers in multiple industries, including aerospace, chemicals, energy, industrial equipment, infrastructure...Read More
|
|
|
Monomoy Closes on Buy of West Marine
|
Monomoy Capital Partners has completed its take private of West Marine, an omni-channel specialty retailer, for approximately $337 million. Monomoy acquired West Marine through its third fund, Monomoy Capital Partners III LP, which close in June 2016 with $767 million of capital. West Marine (NASDAQ:WMAR) is the largest specialty retailer of boating supplies and accessories...Read More
|
|
|
Mason Wells Acquires L.B. White
|
Mason Wells has acquired L.B. White Company in partnership with the company's current management team and other co-investors. The company was previously owned by Rick Diermeier, Jeff Diermeier and Kevin Gagermeier. L.B. White is a manufacturer of direct- and indirect-fired forced-air heaters, convection heaters and radiant heaters in a variety of heat outputs and ignition...Read More
|
|
|
Tonka Bay Exits CORWIL Technology
|
Tonka Bay Equity Partners has completed the sale of CORWIL Technology to Integra Technologies, a provider of integrated circuit test and related services. CORWIL provides integrated circuit assembly and test services to the medical, military and aerospace, OEM electronics and semiconductor industries. The company specializes in wafer thinning and dicing, optical inspection...Read More
|
|
|
Cinnaroll Acquired by Canadian Investors
|
Skidmore Group and SouthPac Partners have acquired Cinnaroll Bakeries, a maker of cinnamon rolls and related products. Cinnaroll Bakeries owns and operates a 35,000 sq. ft. wholesale bakery facility that produces fresh and frozen cinnamon rolls, snacks and twists that are sold to the grocery store, convenience store, fundraising, and food-service industries throughout North America...Read More
|
|
|
Salt Creek Buys Network Distributors
|
Salt Creek Capital has acquired Network Distributors, a supplier and distributor of communications networking components, in partnership with investor and new CEO Rick Pearson. Network Distributors sources, configures and sells third-party optical transceivers (optical transceivers convert and process electrical signals into an optical signals) that are used in...Read More
|
|
|
Keystone Sells Capsa to LLCP
|
Levine Leichtman Capital Partners (LLCP) has acquired Capsa Healthcare, a provider of mobile workstations, medication management products, and pharmacy automation products. Capsa Healthcare has been a portfolio company of Keystone Capital since December 2000. Capsa Healthcare is a market leader in point-of-care IT, medication management systems and pharmacy automation. The company has...Read More
|
|
|
Branford Castle Adds On to Earthlite
|
Earthlite, a portfolio company of Branford Castle Partners, has acquired Continuum Footspas from Joe Galati and the other founders of the company. Continuum Footspas is a designer and manufacturer of pedicure chairs and pedicure equipment. The company's end-customers include many international luxury hotel chains and high-end day spas. Continuum Footspas was founded by John Meyerovich...Read More
|
|
|
Lincoln Building Up TMT Group
|
Lincoln International has opened a new office in San Francisco to be led by Managing Director and Co-head of Lincoln's TMT group, William Bowmer. Mr. Bowmer is a twenty-year veteran of Lehman Brothers/Barclays Capital and he has deep relationships with many technology, media, and telecom (TMT) focused venture capital and private equity funds as well as...Read More
|
|
|
New Senior Managing Director at Gridiron
|
Gridiron Capital has promoted Kevin Jackson to Senior Managing Director and he has also joined the firm's investment committee. Mr. Jackson joined Gridiron in 2010 as a Vice President and was promoted to Managing Director in 2012. He is currently a director on the boards of several of Gridiron Capital's portfolio companies including Dent Wizard, Rough Country...Read More
|
|
|
One Rock Acquires Foam Company
|
One Rock Capital has agreed to acquire FXI, a producer of foam products, from MatlinPatterson Global Advisers and Black Diamond Capital Management. The transaction is expected to close during the fourth quarter of 2017. FXI is a producer of foam products that are used in bedding, furniture, transportation, medical, filtration and acoustics applications. The company's...Read More
|
|
|
KLH Merges Q Research with Tragon
|
Q Research Solutions, a portfolio company of KLH Capital since October 2016, has merged with Tragon Corporation to form one of the largest sensory and consumer products research companies in the US. KLH Capital is maintaining an equity interest in the merged company. Q Research provides sensory and consumer product research for Fortune 500 and other blue-chip customers...Read More
|
|
|
MTS Exits Woodbury Health Products
|
MTS Health Investors has completed the sale of its portfolio company, Woodbury Health Products, to publicly-traded ConvaTec Group. MTS acquired Woodbury in March 2012 from Health Edge Investment Partners. Woodbury is a distributor of incontinence and catheter-related supplies with a product portfolio of over 500 incontinence SKUs and over 650 catheter SKUs. The company also...Read More
|
|
|
Freeman Spogli Acquires Cafe Rio
|
Freeman Spogli & Co. has acquired Cafe Rio, a fast-casual Mexican restaurant company, from KarpReilly, which invested in the business in 2004. Cafe Rio focuses on made-from-scratch food and offers its customers a variety of menu items including burritos, tortillas, salads and tacos. Cafe Rio operates over 100 company-owned restaurants across Arizona, California, Colorado, Idaho...Read More
|
|
|
Cove Hill Partners, a newly formed private equity firm, has closed on its first private equity fund with over $1 billion of commitments. The new fund significantly exceeded its target. Limited partners include family offices, university endowments and charitable foundations. The founders and partners of Cove Hill have also committed significant equity...Read More
|
|
|
| Vance Street Buys RST from HKW |
Vance Street Capital has acquired R.S.T. Instruments from Hammond, Kennedy, Whitney & Company (HKW). Co-investing in the equity with Vance Street were Lexington Partners and Neuberger Berman Private Equity. R.S.T. Instruments (RST), acquired by HKW in July 2014, designs and manufactures geotechnical instrumentation and data systems that are used to measure the structural integrity of...Read More
|
|
|
|
