PE Weekly: Dealmakers Target Utilities, Essential Services
Energy, waste collection, and water line repair drive M&A investors' focus on essential services
Platform Investments
Yellow Wood Merges Suave, Elida into Single Brand. Yellow Wood Partners, a consumer-focused private equity firm, has merged portfolio companies Suave Brands Company and Elida Beauty into a single brand, Evermark. The personal care brand platform will have annual retail sales of approximately $1.9 billion.
Grant Avenue Acquires 21st Century Healthcare. Grant Avenue Capital, a middle-market private equity firm targeting the healthcare sector, announced the acquisition of 21st Century Healthcare this week. The company provides vitamins, minerals, and supplements for humans and pets.
Godspeed Backs Engineering Resource Group. Engineering Resource Group (ERG), a mechanical, electrical, and plumbing firm, has received an investment from Godspeed Capital Management. Godspeed will establish ERG as its new mechanical, electrical, and plumbing-focused engineering, consulting, and design platform.
Family office OneRyan Takes Minority Stake in Mr Gatti. OneRyan Global, the family office of Ryan LLC founder, chairman, and CEO G. Brint Ryan, has acquired a minority stake in Mr Gatti’s Pizza. The pizza restaurant chain first received backing from OneRyan in 2022, a press release noted.
Add-Ons
ArcLight’s Elevate Acquires Prospect Power Storage. Elevate Renewables, a developer and operator of energy storage backed by ArcLight, has acquired Prospect Power Storage. The company is the largest standalone battery storage asset in Northern Virginia, according to a press release. Elevate acquired the company from Swift Current Energy.
Capstreet’s The Colt Group Acquires Watertap. The Colt Group, an on-line industrial leak repair service provider backed by Capstreet, has acquired Watertap. The company provides critical line intervention services for utilities and contractors throughout the Great Lakes region.
The Riverside Company Adds AC&M to Relay Platform. Lower middle-market private equity firm The Riverside Company has acquired AC&M Fire Equipment, adding the business to its Relay Fire and Safety platform. AC&M provides fire extinguisher services and product sales to commercial customers, strengthening Relay’s presence across New England.
Allied Industrial’s Waste Eliminator Acquires Happy Haulers. Waste Eliminator, a sustainable waste solution provider backed by Allied Industrial Partners, has acquired Happy Haulers. The company provides frontload and municipal solid waste collection services.
Renovus Capital’s BlueRidge Acquires Design Science. BlueRidge Life Sciences, a life sciences consulting and services platform backed by Renovus Capital Partners, has acquired Design Science. The company is a human factors and usability engineering consulting firm servicing the medical device, pharmaceutical, and biotechnology spaces.
Stone Point’s Vensure Acquires Distro. Stone Point Capital-backed Vensure Employer Solutions, which provides HR and HCM technology and managed services, has acquired Distro. The company is an AI-powered recruiting platform.
Exits
Renovus Capital Exits Pillr Health. Renovus Capital Partners, a private equity firm focused on the knowledge and talent sectors, has sold Pillr Health. The company is a tech-enabled pharmacy optimization platform for healthcare providers. Water Street Healthcare Partners acquired the business.
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.
