Platform Investments

One Equity Acquires United WELD from Bernhard. One Equity Partners agreed to acquire United WELD Holdings, the parent company of EPIC Piping and BendTec, from Bernhard Capital Partners. EPIC Piping is a manufacturer of highly engineered pipe fabrication systems and related infrastructure components serving industrial, LNG, power, nuclear and data center markets.

Borgman Capital Backs CMW Equipment. Borgman Capital invested in CMW Equipment, a distributor of concrete production, paving, and roadwork equipment serving customers across 10 states, a press release said. The firm will partner with management to support expansion through new service offerings and entry into additional markets.

Trulink Acquires Lyons Magnus from Paine Schwartz. Truelink Capital acquired Lyons Magnus from Paine Schwartz Partners, a recent announcement said. Lyons Magnus develops and manufactures specialty ingredients, beverage products, and nutrition solutions for foodservice, coffeehouse, QSR, and healthcare customers.

Pelican Energy Acquires Riggins Company. Private equity firm Pelican Energy Partners announced this week it acquired Riggins Company, a provider of engineered metal fabrication, specialty welding, and custom components for the U.S. Navy, shipbuilding, power, refining, petrochemical, and aerospace industries. The acquisition continues Pelican’s strategy of investing in critical suppliers serving nuclear and industrial infrastructure markets.

CapVest Takes Majority Stake in TSG Solutions. Investment firm CapVest Partners acquired a majority stake in TSG Solutions, a European provider of technical services for critical energy infrastructure, according to a recent announcement. TSG designs, builds, and maintains infrastructure across power, EV charging, solar, battery storage, biofuels, and gas and biogas markets.

Searchlight, Abry Take KORE Group Private. Searchlight Capital Partners and Abry Partners completed their take-private acquisition of KORE Group Holdings, an Internet of Things (IoT) connectivity, solutions, and analytics provider. KORE helps customers deploy, manage, and scale connected devices globally.

Knox Lane Takes Cross Country Healthcare Private. Investment firm Knox Lane announced this week its completed acquisition of Cross Country Healthcare, a tech-enabled healthcare workforce solutions company. The transaction, valued at approximately $437 million, includes the acquisition of Cross Country’s locums division by Knox Lane portfolio company All Star Healthcare Solutions.

Add-ons

Brightstar Adds to Architecture and Design Platform with BrightTree. Brightstar Capital Partners acquired BrightTree Studios as an add-on to its architecture and design platform, which includes KZF Design and Erdman. BrightTree provides technology design and consulting services focused on audiovisual, IT/telecom, security and acoustics solutions for higher education, healthcare, and corporate clients.

Lake Street’s HighPoint Exterior Acquires Five Points Roofing. Five Points Roofing, a Tennessee-based residential roofing contractor, was acquired HighPoint Exterior Home Services, a roofing and exterior services platform backed by Lake Street Capital Partners. The transaction was announced in a press release by Hyde Park Capital, which served as the investment banker to Five Points.

Strategics

NPM Carves Out Secondaries Business from Nasdaq. Nasdaq Private Market (NPM), which spun out of Nasdaq in 2021 and is now an independent company, acquired Nasdaq Fund Secondaries (NFS), Nasdaq’s fund secondaries business. NFS provides liquidity solutions for LP- and GP-led secondary transactions. The acquisition expands NPM’s platform to cover both direct private-company share transactions and multi-asset fund stakes.

Fundraising

TruArc Raises $1.2 Billion. Private equity firm TruArc Partners closed TruArc Partners Fund V with $1.2 billion in capital commitments, exceeding its $1.1 billion target and surpassing the firm’s prior $840.1 million fund. The fund will continue TruArc’s strategy of investing in middle-market specialty manufacturing and business services companies, an announcement said.

ACG Insights is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.