PE Weekly: Consumers Come Into Focus with Food & Bev, Sports Deals

Platform Investments

BayPine to Acquires CenExcel Clinical Research. CenExcel Clinical research, a clinical trial site network focused on complex therapeutics, will be acquired by private investment firm BayPine LP, according to a press release this week. BayPine will come on as a majority investor, joining existing backer Webster Equity Partners, which will retain a minority stake.

Paceline Equity Backs Kassell. Paceline Equity Partners, a private equity manager, has announce that an affiliate of the firm made a $40 million preferred equity investment in Kassel Mechanical Holdings, LLC. Kassel provides facility services with a focus on installation and maintenance of mechanical, electrical, plumbing and fire suppression systems.

Arclight to Acquire Kleen Power Interests. ArcLight capital Partners announced this week that its managed fund entered into an agreement to acquire Kleen Energy Systems from current owners Osaka Gas USA Corporation and Kyuden International Americas. Kleen is a natural gas-fired power generation asset operating in New England.

Velocity Capital to Take Majority Stake in Unique Sport Group. Velocity Capital Management, a middle-market private equity firm focused on the sports, media and entertainment spheres, will take an ownership stake in Unique Sports Group (USG). USG is a U.K.-based football talent representation agency.

Sycamore Partners Acquires Playa Bowls from Tamarix Equity. Acai bowl chain Playa Bowls has been acquired by Sycamore Partners, a private equity firm focused on the retail space. Sycamore acquired the New Jersey-based chain from Tamarix Equity Partners and other investors, according to reports.

Add-Ons

One Equity’s Comau Acquires Automha. Comau, an advanced automation solution provider backed by One Equity Partners, has entered into an agreement to acquire Italy-based Automha. The company is a warehousing and intralogistics automation solution provider owned by Trasma.

Blue Point’s Local Crafts Acquires Jimmy Beans Wool. Local Crafts Group, a family of brands offering designing and manufacturing services to retailers across sewing, knitting and other fiber art supplies, has acquired Jimmy Beans Wool. Local Crafts is a platform backed by Blue Point Capital Partners.

Morrison-Backed FiberLight Acquires Metro Fiber Networks. FiberLight, a provider of high-capacity fiber optic networks, is expanding in the Virginia market with its acquisition of Metro Fiber Networks. FiberLight is backed by a consortium of investors led by infrastructure investment firm Morrison.

Palm Beach’s Earth Systems Merges with EnviroTrac. Earth Systems, an environmental consulting firm backed by middle-market private equity firm Palm Beach Capital, has merged with EnviroTrac, also an environmental consulting firm. The combination expands Earth Systems’ geographic presence into the Northeast and Midwest.

Exits

Ronin Equity, Landon Capital Exit Heartisan Foods. Heartisan Foods, which manufactures and distributes cheese products, will be acquired by The Gellert Global Group after previous owners Ronin Equity Partners and Landon Capital Partners agreed to a sale. Heartisan is based in Wisconsin.

Fundraising

Morgan Stanley Raises $2.3 Billion for PE Co-Investments. Morgan Stanley has raised $2.3 billion for its North Haven Private Equity Co-Investment Opportunities Fund III (PECO III), according to the Wall Street Journal. The fund is managed by Morgan Stanley Private Equity and will focus on co-investments in lower middle-market businesses in North America and Europe.

Crayhill Capital Raises $1.3 Billion for Third Fund. Crayhill Capital Management, an alternative asset management firm with a focus on assed-based finance, announced the close of its third flagship fund with $1.31 billion in capital commitments. The fundraise surpassed its initial $1 billion target.

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.