PE Today: Tiger Closes Third Fund for Infrastructure Investing
Plus, Gryphon acquires a HVAC distributor, and Broadview makes a waste solutions acquisition
Read the top headlines from Monday, April 25, 2022 below:
Gryphon Investors Acquires Wholesale HVAC Distributor
Middle-market private equity firm Gryphon Investors announced Monday (April 25) its acquisition of Ed’s Supply Company, a wholesale distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment and supplies. The company operates across Arkansas, Georgia, Kentucky and Tennessee, and will run as an independent division of Gryphon’s Heritage Distribution Holdings platform company. Financial terms of the transaction were not disclosed.
Related content: Commercial Services Spotlight: Pueblo Mechanical & Controls
Tiger Infrastructure Partners Closes Third Fund at $1.25 Billion
Tiger Infrastructure Partners has closed its third flagship fund, Tiger Infrastructure Partners Fund III, the middle-market private equity firm said in a press release Monday. The fund closed at its hard cap with $1.25 billion in commitments, exceeding its $750 million target. Investors include insurance companies, public and private pension funds, sovereign wealth funds, financial institutions, family offices and others.
“The Fund furthers our aspiration for Tiger to be the pre-eminent brand name for growth capital for tomorrow’s infrastructure,” stated Tiger CEO Emil W. Henry, Jr. in a statement. The fund has already invested in five portfolio infrastructure companies across a range of markets, including the cloud, air cargo, EV charging, power generation and carbon capture.
Broadview Acquires Certified Waste Solutions
Middle-market investment firm Broadview Group Holdings, LLC announced its acquisition of Certified Waste Solutions alongside co-investors, including private equity firm EXI Investment Partners. Certified Waste Solutions is a southern California-based company offering industrial recycling and waste services, and, according to Broadview co-founder and CEO Clay Hunter, Certified “established its waste solutions offering to help companies navigate ever-changing waste regulations and ESG initiatives.” Financial terms of the acquisition were not disclosed.
