Oct. 4, 2022: Wafra Invests in Oak Hill Capital Partners
Plus, Northstar invests in May River platform company, and BV exits Salesforce cloud commerce solution provider
Read the top headlines from Tuesday, October 4, 2022 below:
Northstar Capital Invests in May River Material Handling Platform Company
Northstar Capital, which provides junior capital for middle-market private equity transactions, announced its investment in Automated Handling Solutions, a platform company that’s part of May River Capital’s portfolio. AHS offers engineered material handling equipment and automated solutions, and was formed by the merger of Spiroflow Systems and Cablevey Conveyors. May River financed its investments with support from Northstar, which was comprised of debt and co-equity investment, a press release noted. Northstar’s investment marks its 23rd platform investment from its Fund VII.
Wafra Acquires Minority Stake in Oak Hill Capital Partners
Alternative investment manager Wafra announced in a press release its partnership with Oak Hill Capital Partners in a deal that sees funds managed by Wafra acquire a strategic minority stake in the middle-market private equity firm. Wafra acquired the stake from an affiliate of Jefferies Financial Group, a press release said. In its announcement, Wafra said its partnership with Oak Hill is a part of its strategy of partnership-based investments in alternative asset management firms. The investment follows nearly a year after Wafra divested its interest in Oak Hill Advisors to T. Rowe Price.
BV Exits Salesforce Cloud Commerce Solution Provider
Middle-market private equity firm BV Investment Partners has exited RafterOne, a provider of multi-cloud commerce solutions on the Salesforce Platform, according to a press release. BV sold the business to Interpublic Group of Companies after first investing in the company in late-2020. Since that initial backing, BV fueled continued growth in RafterOne to strengthen its position as a provider within the Salesforce ecosystem.
In a statement, RafterOne co-founder and CEO Erik Dodier said, “The combination of RafterOe and IPG’s network and capabilities offers a powerful solution to all our clients and a compelling opportunity for our growing global team to continue to drive innovation and success around commerce on Salesforce.”
