PE Weekly: Exits, Fundraising Hint at a Comeback
Kicking off the new year, middle-market dealmakers announce fresh exits and fundraising in a positive sign for M&A ahead
Platform Investments
Windjammer Acquires MFG Chemical. Windjammer Capital announced this week its acquisition of MFG Chemical, a specialty chemicals manufacturer. The company services the water treatment and industrial coatings end markets, among others.
Brodie Generational Acquires Sur-Seal. Brodie Generational Capital Partners, a single-family office investor, has acquired Sur-Seal, a recent press release said. The company provides advanced materials converting and engineered solutions.
PPC Backs NaturPak. Investment firm PPC announced this week its investment in NaturPak, a manufacturer and packager of food products. The company manufactures bone broths, soups, sauces, wet pet foods, and high-growth ingredients.
Coalesce Capital Invests in Marshall & Stevens. Private equity firm Coalesce Capital announced its majority recapitalization of Marshall & Stevens, an independent valuation advisory, litigation support, and transaction advisory firm. The firm services private and public companies, investors, and advisors on M&A transactions, ESOPs, and other situations.
Grant Avenue Acquires PatientCare. Grant Avenue Capital, a middle-market private equity firm focused on the healthcare space, announced its acquisition of PatientCare EMS Solutions this week. The company provides ground-based healthcare transportation services.
ATL Partners Acquisitions Form Vehicle Equipment Platform. ATL Partners has formed a specialty vehicle equipment platform following two acquisitions. The middle-market private equity firm acquired SkyMark Companies and Rampmaster. Together, the businesses service the aviation and transportation end markets.
Bregal Sagemount Invests in Redgate Software. Private equity firm Bregal Sagemount has invested in Redgate Software, according to a recent announcement. Redgate Software provides Database DevOps solutions. Bregal Sagemount acquired a majority stake in the business.
Gryphon Invests in Fortreum. Private investment firm Gryphon Investors has made a majority recapitalization of cybersecurity services firm Fortreum. The company provides audit, advisory, and technical testing services for businesses in regulated industries.
Greenbriar Equity Acquires eShipping. Managed transportation, logistics, and supply chain technology solutions provider eShipping has been acquired by Greenbriar Equity Group, a press release announced. The business offers a cloud-based software platform for end customers.
Add-Ons
Rockbridge-Backed FormativGroup Acquires Eon Collective. FormativGroup, a middle-market data consulting firm backed by Rockbridge Growth Equity, has acquired Eon Collective. The company specializes in data integration and governance.
Recognize Partners’ 2X Acquires The Kiln. 2X, a subscription go-to-market services provider backed by Recognize Partners, has acquired The Kiln. The company expands 2X’s Marketing-as-a-Service offerings with The Kiln’s GTM engineering expertise, an announcement noted.
TruArc’s New Directions Aromatics Merges with Aromatic Fragrances. New Directions Aromatics, a specialty natural ingredients supplier backed by TruArc Partners, has merged with Aromatic Fragrances International. The company is a B2B e-commerce fragrance supplier to the beauty, personal care, home care, and other end markets.
Renovus Capital’s Superior Health Acquires Hope Healthcare. Superior Health Holdings, a home-based clinical services provider backed by Renovus Capital Partners, has acquired Hope Healthcare & Hospice (Bayou Country). Hope Healthcare provides hospice care, medications, equipment, bereavement services, and more.
CORE Industrial’s AxioAero Acquires Airway Aerospace. AxioAero, an aerospace and aviation-focused holding company formed recently by CORE Industrial Partners, has acquired Airway Aerospace. Airway is a repair station certified by the FAA, EASA, and CAA UK.
Strategics
Anywhere365 Exits IQ Messenger to Main Capital. AI customer experience solution provider Anywhere365 has exited IQ Messenger, a healthcare communication platform. Main Capital Partners acquired the business, a press release noted.
Exits
The Riverside Company Sells Trustwell. The Riverside Company announced this week the exit of Trustwell, a SaaS-based compliance, safety, and supply chain solutions provider servicing the food sector. Private equity firm TPG acquired the business via its global impact investing platform strategy The Rise Fund.
Admiral Group Exits U.S. Motor Insurance Business to J.C. Flowers. U.K.-based insurance firm Admiral Group has sold its U.S. motor insurance business to private investment firm J.C. Flowers & Co., according to a press release. The exit includes the sale of Elephant Insurance Company and Elephant Insurance Services.
Arlington Capital Exits Tex-Tech to Michelin. Tex-Tech, an aerospace, space and defense, and specialty industrial manufacturer, has been sold by Arlington Capital Partners to Europe’s Michelin. In addition to the sale, a press release also announced FMI Industries, which is made of two Tex-Tech divisions, acquired Fiber Materials.
Bessemer Exits Leonard Valve Company. Leonard Valve Company, which provides water temperature and flow control solutions, has been sold by Bessemer Investors. The company was acquired by publicly listed A. O. Smith Corporation. Bessemer first invested in Leonard Valve in 2019.
Fundraising
Lindsay Goldberg Raises $4.9 Billion. Lindsay Goldberg, a private investment firm, announced the close of its Fund VI with $4.9 billion in capital commitments. The fundraise surpassed its initial $4 billion target. Fund VI has already invested in Golden State Foods and EMCO, a press release noted.
Eir Partners Raises $1 Billion for Health Tech. Eir Partners Capital, a private equity firm focused on the health tech and tech-enabled services spaces, announced the close of its third fund with $1 billion in capital commitments. Eir Partners III exceeded its initial target of $800 million.
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.
