Aug. 24, 2022: BV, Blackford, Audax Announce New Exits
Sales completed across fundraising services, aluminum manufacturing and consumer healthcare industries
Read the top headlines from Wednesday, August 24, 2022 below:
BV Exits Nonprofit Fundraising Business
BV Investment Partners, a middle-market private equity firm, recently announced the sale of RKD Group, a business that provides fundraising and marketing services to nonprofit organizations. Based in Texas, RKD Group was supported by BV in its growth through organic and four add-on acquisitions. Incline Equity Partners will add RKD Group into its portfolio, though financial terms of the acquisition were not disclosed.
Blackford Sells Aluminum Business to Gibraltar Industries
Blackford Capital, a lower-middle market private equity firm, has completed its exit of aluminum manufacturing company Quality Aluminum Products for $54 million. Gibraltar Industries, a public manufacturer of products across renewable energy, residential, AgTech and infrastructure businesses, acquired Quality Aluminum products, a press release said. Blackford first acquired the company in early 2016, and since focused on growth through customer service, product quality, and other initiatives.
In a separate announcement, Gibraltar announced its acquisition of the company “expands our residential product offering an builds our presence in additional regional markets supporting both retail and wholesale customers,” according to Gibraltar’s chairman and CEO Bill Bosway.
Audax Finalizes Exit of Healthcare Company to Avista
Audax Private Equity announced the completion of its exit of WellSpring Consumer Healthcare to Avista Capital Partners, according to a press release. WellSpring markets over-the-counter skincare and gastrointestinal care brands. The company was acquired by Audax in 2017, and since expanded its product offering, invested in research and development, and grew its retail and e-commerce channels. Separately, Avista’s announcement noted WellSpring “represents another compelling opportunity for Avista to invest in the highly attractive consumer healthcare sector,” stated Alex Yu, a partner at the private equity firm.
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