PE Weekly: Dealmakers Target Infrastructure, Industrial Spaces
Commercial lighting, civil engineering and electrical power systems land in M&A roundup
Platform Investments
TSG Consumer to Acquire EoS Fitness. TSG Consumer Partners, a private equity firm focused on the consumer sector, announced it reached an agreement to acquire EoS Fitness. The company operates more than 175 High Value, Low Price (HVLP) gyms in the U.S.
Caymus Equity Acquires Valley Lighting. Caymus Equity Partners, a private equity firm based in Atlanta, has acquired Valley Lighting, a commercial lighting and shading solutions provider. Valley services complex commercial construction and renovation projects across the Mid-Atlantic.
Add-Ons
VSS-Backed HFW Announces 10th Add-on. Lower middle-market private investment firm VSS Capital Partners announced recently that its portfolio company, HFW, has completed its 10th add-on acquisition. HFW is an architecture and engineering professional services company. It acquired Southwest Engineers, a civil engineering firm specializing in wastewater treatment and water storage.
Sole Source’s Peak Technology Acquires Automation Intelligence. Peak Technologies, a systems integrator in the automatic identification and data capture space backed by Sole Source Capital, has acquired Automation Intelligence. The investment is the company’s 18th add-on since being acquired by Sole Source. Automation Intelligence enhances Peak Technologies’ capabilities with advanced robotics and machine vision solutions, a press release said.
Trinity Hunt’s Argano Acquires Healthcare Consultant. Argano, a digital services consulting firm backed by Trinity Hunt Partners, has acquired Attentis Consulting. Attentis is a Salesforce consultant for healthcare providers. The investment follows Argano’s recent investments in Real Dynamic and Netlogistik.
Greenbelt’s Saber Power Acquires Electrical Engineering Co. Greenbelt Capital Partners-backed Saber Power Services has acquired inoLECT. Saber is an electrical power system services provider. Its investment in inoLECT adds the company’s electrical engineering and field services capabilities, expanding Saber’s presence in Louisiana.
Lateral’s Morae Acquires Enterprise Governance Solution Provider. Morae Global Corporation, a tech-enabled business solutions provider servicing law firms, legal departments and compliance executives, has acquired Gimmal. The company provides information governance solutions for enterprises and government agencies. Morae is backed by Lateral Investment Management and BlackRock.
Insignia’s Chocolate Works Acquires Thompson Chocolate. Branded and private label chocolate product manufacturer Chocolate Works has acquired Thompson Chocolate, according to a press release. Chocolate Works is a portfolio company of Insignia Capital.
Strategics
Armour Excavating Acquires Trucking Business. Armour Excavating, a provider of excavating services, has acquired Buck Valley Trucking, according to a press release. The investment expands Armour’s operations in Texas with Buck Valley’s hauling services.
Tribe Impact Acquires Snowball Impact. Tribe Impact Capital, an impact wealth manager, has acquired Snowball Impact Manager, a multi-asst impact fund. Snowball has a strong presence in the private markets, Tribe’s announcement noted, and enhances Tribe’s wealth management business with the addition of specialist private market capabilities.
Fundraising
Nexa Equity Raises $390 Million for SaaS. Nexa Equity, a private equity firm focused on SaaS businesses, has closed Fund II with $390 million in capital commitments. The oversubscribed fund brings the firm’s total assets under management to more than $1 billion.
Blackstone Eyes PE Acquisitions with $5.6B Fundraise. Blackstone is looking to raised $5.6 billion for its latest fund which would focus on acquiring minority stakes in private equity firms, sources told Bloomberg. The GP Stakes fund would follow a previous similar fund, which Blackstone closed in 2021, and would help PE firms access a new avenue for capital to get returns back to LPs in a sluggish M&A market, reports noted.
Insights
SRS Acquiom Expands into Europe. SES Acquiom, an M&A solutions provider, is expanding with the launch of its M&A services in the European Union. The company said in a recent announcement that the expansion follows the launch of its Loan Agency business in Europe. The firm now has offices in London and Amsterdam.
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