PE Weekly: Home Maintenance, Repair Businesses Entice Investors
Plus, commercial services like paving drive M&A activity, too
Platform Investments
Agellus Capital Acquires HighGrove Partners. Agellus Capital has acquired HighGrove Partners, a commercial landscaping services provider operating in the Southeast. Agellus will continue to grow the platform through organic growth and add-on acquisitions, a press release noted.
GHO Acquires Scientist.com. GHO Capital Partners, a private equity firm focused on the global healthcare space, has closed its acquisition of Scientist.com, according to a press release. Scientist.com is an AI-enabled R&D orchestration platform for the life sciences industry.
Arkview Capital Acquires NeoTech. Arkview Capital, a private equity firm that targets the essential businesses space, announced its completed acquisition of NeoTech. The company provides electronic manufacturing services to the defense, aerospace, medical, industrial, and advanced technology sectors.
Smith Ventures Takes Green Dot’s Non-Bank Assets Private. Green Dot Corporation, a fintech platform and registered bank holding company, is divesting its non-bank assets to Smith Ventures. The transaction will take the assets private, and the business will run as an independent fintech and embedded finance company. Separately, CommerceOne will acquire Green Dot Bank and form a publicly traded bank holding company.
Trulink Carves out SouthernCarlson from Kyocera. Private equity firm Trulink Capital said in a press release this week it reached an agreement to acquire SouthernCarlson, a distributor and service provider of construction and industrial fasteners. The firm is carving out the business from its former parent company, Kyocera Corporation.
Courizon Partners Acquires Air Burners. Air Burners, which facilitates wood and vegetative waste disposal with air curtain burner systems, has been acquired by Courizon Partners. Air Burners services customers in land clearing, forestry management, agriculture, and other end sectors.
Add-Ons
Thompson Street’s ATIS Acquires M.A.N Elevator Inspections. Private equity firm Thompson Street Capital Partners announced its portfolio company, ATIS, has acquired M.A.N Elevator Inspections. ATIS provides vertical transportation inspections, consulting, and managed services. M.A.N provides elevator inspection services across southeast Florida.
Trinity Hunt Adds PMI to Launch Paving Platform. Trinity Hunt Partners has announced the formation of its Sage Surface Partners commercial paving services platform following two acquisitions in the space. The private equity firm acquired DACS Asphalt & Concrete, and subsequently added Pavement Maintenance, Inc. (PMI) to the platform.
Exits
J.C. Flowers Exits Island Finance. Private investment firm J.C. Flowers announced this week it reached an agreement to exit Island Finance to VRM Penzini Capital. Island Finance is a Puerto Rico-based non-bank consumer financial institution.
Trulink Exits Koch Filter to Atmus Filtration. Trulink Capital announced this week it will sell Koch Filter Corporation, a provider of air filtration solutions. The business is a subsidiary of Air Distribution Technologies and will be acquired by publicly listed Atmus Filtration Technologies. The all-cash transaction is valued at $450 million.
H.I.G. Exits Project Informatica. Italy-based information technology operator Project Informatica has been sold by H.I.G. Capital, the alternative investment firm announced this week. EMP Capital, a private equity investor, acquired the business, which also received a reinvestment from Project Informatica’s management team.
Fundraising
HCI Closes Special Purpose Vehicle for Foundation Repair Roll-up. HCI Equity Partners, a private equity firm focused on the lower-middle market, has announced the close of a special purpose vehicle (SPV) to execute a roll-up strategy in the residential foundation repair and basement waterproofing sector. The SPV was oversubscribed, the announcement noted.
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.
