PE Today: HGGC Debuts Holding Company for Investment Advisory Acquisitions
Plus, The Jordan Company announces in communications tech, and HKW’s PortCo Infab acquires a surgical glove business
Read the top headlines from Wednesday, April 20, 2022 below:
HGGC Creates Aspire Holdings for Investment Advisory Acquisitions
Middle-market private equity firm HGGC announced in a press release Wednesday (April 20) the formation of Aspire Holdings, a company to hold HGGC’s investments in the Registered Investment Advisors (RIAs) space. HGGC plans to invest up to $300 million in the industry, it said, and has already acquired stakes in Apella Capital, Merit Financial Group and WA Asset Management.
In a statement, HGGC co-founder and president Steve Young, who will serve as chairman of Aspire, said the RIA investments the firm has made so far have shown “strong performance,” and the introduction of Aspire will ensure investor alignment on RIA investment strategy, while also giving the firm “the flexibility to deploy capital thoughtfully and quickly on smaller investments as we manage a growing set of opportunities,” he said.
Related content: Payment Innovations Drive Investor Interest in Fintech
The Jordan Company Invests in Electronic Communications Technology
The Jordan Company, a middle-market private equity firm, announced this week its investment in Communications & Power Industries (CPI), a manufacturer of antenna systems and electronic components for the communications, medical and government industries. The investment from The Jordan Company will allow CPI to continue to scale and “pursue synergistic acquisitions,” a press release said.
HKW PortCo Infab Lands Latest Acquisition in Surgical Glove Business
HKW, a middle-market private equity firm, announced its portfolio company Infab has made its latest acquisition, the glove division of International Biomedical, Ltd. The gloves are designed to reduce radiation exposure during surgical procedures, making the outfit a “logical fit” for Infab, which offers lead and radiation protection accessories. its CEO Daren Dickerson said in a statement. In another statement, HKW partner and Infab’s chairman of the board Kent Robinson pointed to HKW’s “emphasis on partnering in the health and wellness industry,” noting Infab’s add-on acquisition “strengthens our commitment to support the professionals within this sector.” Financial terms of the acquisition were not disclosed.
