PE Weekly: Portcos Trade Between PE Firms, Strategics
Sponsors scoop of businesses exited by fellow sponsors
Platform Investments
GTCR Acquires SimpliSafe. Private equity firm GTCR has announced it reached an agreement to acquire SimpliSafe, a smart home security systems maker. GTCR is acquiring the company from Hellman & Friedman. Within GTCR’s portfolio, SimpliSafe will focus on product innovation, an announcement said.
Riverspan Acquires United Titanium. Riverspan Partners, a private equity firm focused on the industrials industry, announced its acquisition of United Titanium, a manufacturer of precision components made from specialty metals. United Titanium serves the aerospace and defense, medical and dental, electronics, and other sectors.
Platinum Equity to Acquire PlayPower. Platinum Equity announced this week it reached an agreement to acquire PlayPower, a designer and manufacturer of outdoor living systems including playgrounds. Platinum Equity acquired the company from its previous sponsor, Littlejohn & Co.
Sheridan Capital Invests in National Care Systems. Sheridan Capital Partners announced this week its investment in revenue cycle management software provider National Care Systems. The company services nursing and assisted living facilities.
GrowthCurve Acquires PlanHub. Private equity firm GrowthCurve Capital has acquired PlanHub, a cloud platform to support commercial construction professionals in the pre-construction phase. GrowthCurve acquired the business from its previous sponsor, Mainsail Partners, and other shareholders.
KKR Acquires Hoken Minaoshi Hompo Group. Global investment firm KKR has acquired Hoken Minaoshi Hompo Group, a Japan-based insurance distributor. The firm acquired the business from Japanese private equity firm Advantage Partners.
Fengate Private Equity Acquires Sweets from the Earth. Fengate Private Equity, the PE division of Fengate Asset Management, has announced a partnership with Sweets from the Earth. The company manufactures plant-based, allergy-friendly baked goods. The investment marks Fengate’s second in the food and beverage space in the last 18 months.
I Squared Acquires ENTEK. I Squared Capital, an investment manager focused on the infrastructure space, has acquired a majority stake in ENTEK Technology Holdings. The company manufactures battery separators. Backing from I Squared, combined with a U.S. Department of Energy loan, will support construction of a gigafactory in Indiana, a press release noted.
Keensight Capital Acquires Isto Biologics. Keensight Capital announced this week its acquisition of Isto Biologics, a regenerative MedTech company that develops and manufactures orthobiologic products. Keensight acquired a majority stake in the company from Thompson Street Capital Partners, which will retain a minority stake.
L Catterton Backs Seki Furniture. L Catterton announced this week its investment in Seki Furniture, a Japan-based furniture company. A press release pointed to L Catterton’s strength in the consumer sector, including in the home fixtures and furnishing spaces, as factors that will support Seki’s continued growth.
Add-Ons
TSCP’s ATIS Carves Out Elevator Inspection Business of TIA. Thompson Street Capital Partners-backed ATIS, a provider of elevator and escalator safety services, has acquired the elevator inspection business of Technical Inspection Agency USA (TIA).
Transom Capital’s HALO Dream Acquires Child Craft. Transom Capital Group portfolio company HALO Dream has acquired Child Craft, a nursery furniture and décor brand. The investment is HALO’s third add-on acquisition in 16 months, according to a press release, and expands its presence in the juvenile sleep solutions market.
CORE Industrial’s Momentum Acquires Superior Lithographics. Momentum, a provider of folding carton solutions backed by CORE Industrial Partners, has acquired Superior Lithographics. The company services the consumer, as well as food and beverage, spaces with tailored paper packaging solutions.
Thoma Bravo-Backed BlueMatrix Takes RMS Private. Thoma Bravo-backed BlueMatrix, a capital markets content publishing technology provider, has acquired RMS Partners. The business is a global investment research software platform. BlueMatrix acquired the business from publicly listed FDS.
Clearlake Capital’s DigiCert Acquires Valimail. Digital trust provider DigiCert has acquired Valimail, a zero-trust email authentication service provider, according to a recent press release. DigiCert is backed by Clearlake Capital Group, Crosspoint Capital Partners, and TA Associates Management.
Strategics
Riviera Partners Acquires BaT. Global executive search firm Riviera Partners announced its acquisition of Board and Technology (BaT), an international talent strategy firm. As part of the acquisition, Riviera Partners has also welcomed BaT founder Olof Pripp as a partner.
Exits
Montage Partners Exits Puroflux. Montage Partners, an Arizona-based private equity firm, announced the successful sale of portfolio company Puroflux Corporation this week. Puroflux designs and manufactures industrial and commercial water filtration and control systems. Wincove Private Holdings portfolio company Purgo Holdings acquired the company.
Nolan Capital Exits Water Engineering. Family office Nolan Capital announced it reached an agreement to sell portfolio company Water Engineering to Kemira. Water Engineering was formed by the family office through its acquisition of Apollo Technologies in 2021. Kemira is a Finland-based provider of chemical solutions for water-intensive industries.
Middle Market Growth is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
