Oct. 24, 2022: AAVIN Announces Latest Fundraise

Read the top headlines for Monday, October 24, 2022 below:

Tecum Capital Management Makes Investment in Home Improvement

Middle-market private equity firm Tecum Capital Management announced its investment in The Basement Doctor, which provides water displacement management services, including basement waterproofing, for residential properties. The partnership marks Tecum’s first platform investment from its re-launched control equity strategy Team Equity Alpha Management (TEAM). The investment will help The Basement Doctor continue its growth strategy of expanding its geographic footprint as well as enhancing its distribution capabilities throughout the U.S. “We have aggressive goals of expanding the platform through both organic and inorganic initiatives, while continuing to professionalize the industry and the broader home services environment,” noted Tecum vice president Sean Edmonson in a statement.

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NovaQuest Rebrands to QHP Capital

NovaQuest Private Equity announced a rebrand to QHP Capital in a recent press release. The firm will continue to focus on tech-enabled lice sciences and pharmaceuticals services. “We will remain focused on our core strategy of developing partnerships with companies at key inflection points, in the process of enhancing operations and scaling the commercial efforts of these already thriving businesses,” the firm’s partners said in a statement. QHP will continue to serve as the investment manager for NovaQuest Private Equity funds.

AAVIN Raises $63 Million for Third Fund, Secures SBIC License

Private equity firm AAVIN Equity Advisors announced it raised $63 million for its third fund, AAVIN Capital III, with capital commitments stemming from existing and new institutional investors. In addition to the fundraise, AAVIN announced it secured a Small Business Investment Company (SBIC) license to support its investment strategy, focusing on lower-middle market companies. In its announcement, the firm noted it will use the funding to fuel investments in family- and founder-led businesses with less than $50 million of revenues. The fundraise brings the total value of assets under management to $275 million.