PE Weekly: Industrials Deals Dominate
Reynolda Equity Partners and Speyside Equity are among the PE firms this week to announce acquisitions in the industrials space
This week’s deal roundup includes transactions in the industrials sector, among them Reynolda Equity Partners’ acquisition of a weighing and automation solutions provider, and Speyside Equity’s acquisition of a blasting media and roofing granules company. Plus,two new acquisitions of private credit providers were announced.
Platform Investments
ACON Investments Acquires Rymel. ACON Investments announced the acquisition of a majority stake in Rymel, a major Colombian manufacturer of electrical transformers. This is ACON’s 42nd transaction in Latin America.
Bascom Group Acquires Old River Place. The Bascom Group has acquired Old River Place, a builder of single family homes. Bascom specializes in multifamily and commercial real estate investments and is actively pursuing new acquisitions through the end of 2024.
Charlesbank Capital Partners Invests in Front Row Group. Charlesbank Capital Partners, a middle-market PE firm, has invested in Front Row Group, an e-commerce agency for beauty, health and wellness, and CPG brands. The investment is intended to help Front Row accelerate growth and innovate.
HEST Investments Announces Strategic Investment in American Binary. HEST Investments, a PE firm specializing in biotech, life services and cybersecurity, has acquired American Binary, a post-quantum encryption company. The deal will allow American Binary to advance its research and development efforts to bring its solutions to market more swiftly, says CEO Kevin Kane.
Kohlberg & Company Makes Majority Investment in CLEAResult. CLEAResult, an energy efficiency, transition and sustainability services provider, announced a majority investment from Kohlberg & Company. Kohlberg acquired its position from TPG Growth and TPG’s The Rise Fund.
L Catterton and Other Firms Invest in Open Road Resorts. L Catterton, THOR Industries, Long Light Capital and Chesapeake Partners have invested in Open Road Resorts, an operating platform managing a portfolio of U.S. RV parks. Open Road Resorts currently operates five parks in Idaho, Montana, Nebraska and Texas.
Reynolda Equity Partners Acquires Carlton Industrial Solutions. Reynolda Equity Partners has acquired Carlton, a provider of services for industrial weighing, precision measurement, safety training and craning.
Carve-outs
Speyside Acquires Reed Minerals in Carve-out Transaction. Speyside Equity completed its carve-out of Reed Minerals LLC from Enviri Corp. (NYSE: NVRI), an environmental services company. Reed Minerals is a provider of blasting media and roofing granules for North America.
Turnspire Capital Partners Acquires Pharmachem. Turnspire has acquired Pharachem, a nutraceuticals business, from Ashland Inc. (NYSE: ASH), a specialty materials company. Pharmachem provides proprietary nutrition ingredients and custom formulation services with four production facilities in New Jersey, Utah and Mexico.
Add-ons
Leinco Technologies Inc. Acquires QED Biosciences. Leinco Technologies, a portfolio company of Ampersand Capital Partners, has acquired QED Biosciences from Genovis. QED is a provider of antibodies, kits and recombinant proteins and antigens for the in vitro diagnostic (IVD) and research sectors.
PGW Auto Glass Acquires PH Vitres D’Autos. PGW Auto Glass, a portfolio company of One Equity Partners, has acquired PH Vitres D’Autos, a Quebec-based auto glass distributor, installer and calibrator. PGW’s CEO noted in the press release that this is part of the company’s mission to become the top auto glass solutions supplier in North America.
Strategics
Meridian Waste Acquires Evergreen Environmental Partners Holdings and ASDI Holdings. Meridian Waste, an integrated solid waste services company, has acquired two entities from BTG Pactual Strategic Capital. These acquisitions will expand Meridian’s footprint in the Southeast and add operational facilities.
Private Credit
Ares Acquires The Riverside Company’s Credit Solutions Arm. Global alternative investment manager Ares Management announced its acquisition of Riverside Credit Solutions (RCS), an affiliated fund of The Riverside Company. A press release noted that RCS’ focus on the lower end of the middle market will help reinforce Ares’ position as a direct lender among lower midmarket borrowers and expand opportunities for its platform.
BC Partners Credit Invests in GSE Worldwide. GSE Worldwide, an athletic talent management company, received a strategic investment from BC Partners Credit, an international investment firm, joining continued support from Gatemore Capital Management.
Clearlake Capital Group Acquires MV Credit. Clearlake Capital Group, an investment firm headquartered in Santa Monica, California, has agreed to acquire MV Credit, a European private credit specialist, from Natixis Investment Managers. This deal allows Clearlake’s credit arm to attain rapid scale.
Insights
Former Jeni’s CEO Bets on Restaurants with New PE Fund. John Lowe, the former CEO of Jeni’s Splendid Ice Creams and a current board member at White Castle, has launched the Amok Consumer Growth Fund. The fund will back consumer-focused, early-stage businesses in restaurants and retail, according to a Nation’s Restaurant News article.
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