PE Weekly: As B2B Dealmaking Continues, Winky Lux Deal Signals Hope for Consumer
Industrials, energy and other B2B-focused sectors continue to see strong M&A activity
B2B sectors like industrials and renewable energy continue to dominate M&A dealmaking this week, but a high-profile acquisition of a beauty and cosmetics brand could signal good news for the consumer sector. Read more about the latest transactions below.
Platform Investments
CORE Industrial Acquires Majority Stake in Winky Lux. Beauty brand Winky Lux has received a majority growth investment by CORE Industrial Partners, a private equity firm focused on the middle market. The investment will support Winky Lux’s growth and expanded market reach online and in-store.
ArcLight Acquires Wind Farm with New Renewables Initiative. ArcLight Infrastructure Partners, an infrastructure investment firm, has announced its new renewables initiative. Dubbed SkyVest Renewables, the platform has acquired a wind farm and will focus on operating and optimizing additional acquired assets in wind and solar infrastructure.
NewSpring Invests in Trio Mobil. NewSpring, a family of private equity strategies, has led a $26.5 million financing round for Trio Mobil, a provider of AI and IoT solutions for workplace safety and efficiency. A press release said NewSpring made the investment through its growth equity strategy, NewSpring Growth. Existing investors 212 and TIBAS Ventures also participated in the funding, the announcement noted.
SK Capital Acquires Fuel Containment Unit of Parker Hannifin. Private investment firm SK Capital Partners is acquiring the North America Composites & Fuel Containment Division of publicly-listed Parker Hannifin Corporation, a motion and control technologies company. The Composites and Fuel Containment business provides engineered carbon fiber composite components and fuel containment solutions for the defense and commercial aerospace industry.
Unity Partners Acquires Katsam Property Services. Middle-market investment firm Unity Partners has announced the completion of its investment in Katsam Property Services, a maintenance services business, according to a press release. Katsam will introduce an Employee Purpose Plan in support of Unity Partners’ broader strategy of building employee ownership into its platform investments. The company will also use Unity’s support to pursue growth via organic initiatives and strategic acquisitions.
Add-ons
Transom Capital’s Scantron Acquires C-Net. Scantron Corporation division Secur-Serv, a managed IT and cybersecurity services provider, is acquiring C-Net Systems, according to a press release. C-Net Systems, also a managed service provider, expands Secur-Serv’s presence in the Midwest. Scantron is a portfolio company of middle-market private equity firm Transom Capital Group.
Huron Capital’s Exigent Group Makes Two Acquisitions. The Exigent Group, a provider of HVAC, plumbing, engineering and energy efficiency services, has announced two acquisitions. The business acquired Smith-Boughan and Electrical Automation Services, marking the sixth and seventh acquisitions since the platform first launched in 2022. Exigent is backed by middle-market private equity firm Huron Capital and is part of the firm’s ExecFactor investment strategy.
Transom-Backed BridgeTower Media Acquires Virginia Business. BridgeTower Media, a business intelligence and marketing platform backed by middle-market private equity firm Transom Capital Group, has announced its acquisition of the publication Virginia Business. The company provides economic insights to readers across Virginia, allowing BridgeTower Media to expand its presence across new industries in the U.S., a press release sent to Middle Market Growth said.
Exits
NOVA Exits Bold Ocean. Nova Infrastructure, a middle-market private equity firm focused on the infrastructure sector, announced the close of Bold Holdco, also known as Bold Ocean. The company serves U.S. government agencies as a U.S. Flag operator providing transportation and logistics solutions. Institutional investors advised by J.P. Global Alternatives’ Global Transportation Group acquire the company, according to a press release.
Fundraising
StoneTree Closes Debut Fund for Manufacturing Investments. StoneTree Investment Partners has closed its inaugural fund, raising $155 million in capital commitments. Reports said the firm will focus on investments in the manufacturing sector across the lower-middle market in Canada and the U.S.. StoneTree made its debut in 2021.
Middle Market Growth is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
