Oct. 26, 2022: Ridgemont Surpasses $2 Billion Goal with Fourth Fund
Plus, Greenbelt secures backing for Unirac investment, and Hastings announces four acquisitions
Read the top headlines for Wednesday, October 26, 2022 below:
Greenbelt Secures LBC, Sound Point Backing for Unirac Acquisition
LBC Credit Partners and Sound Point Capital announced their support of the acquisition of PV mounting system manufacturer Unirac by Greenbelt Capital Partners. LBC, which provides financing solutions to lower-middle market and middle-market companies and their sponsors, served as agent and lead arranger for a senior secured credit facility to financing the acquisition, while Sound Point served as co-lead arranger, the press release noted. Greenbelt announced its investment in Unirac earlier this month, when it noted that the acquisition will support product development and enhancements to Unirac’s supply chain to increase efficiency.
Hastings Offers Investment Update with Four Acquisitions Announced
Hastings Equity Partners, a lower-middle market private equity firm, offered an update of its recent investment activity, announcing four new acquisitions. They include the acquisition of Community Tree Service, a vegetation management company, as one of its newest platform investments. The acquisition, made in June, marked the firm’s first platform investment from Fund V.
Hastings also announced the acquisition of three traffic control and safety companies, rolled up into its second platform investment, Traffic Control Partners. The company was formed in July, and the founders of the three businesses that form the platform—Traffic Control & Protection, TSI Traffic Control, and Traffic Control Specialists—will retain significant ownership, the announcement noted.
Related content: Giving the Green Light to Traffic and Pedestrian Safety Innovation
Ridgemont Raises $2.35 Billion for Fourth Fund
Ridgemont Equity Partners, a private investment firm targeting the middle market, announced the close of its fourth fund, Ridgemont Equity Partners IV, with $2.35 billion in commitments. The fundraise exceeded its initial target of $2 billion, and raises Ridgemont’s total assets under management to more than $8.5 billion. With the funds, Ridgemont said it will continue its investment strategy within the tech-enabled services, industrial growth and healthcare industries.
