PE Weekly: Kelly Clarkson’s Music Catalog Sold to PE Firm

Platform Investments

HarbourView Equity Acquires Kelly Clarkson Music Catalog. HarbourView Equity Partners, which focuses on the music, sports, media and entertainment industries, has acquired a stake in the music catalog of Kelly Clarkson. HarbourView currently has more than 70 music catalogues in its portfolio, according to a press release.

Brightstar Capital Takes 50% Stake in Arden University. Brightstar Capital Partners has announced it reached an agreement to acquire a 50% stake in Arden University, a U.K.-based provider of higher education. Brightstar made the acquisition in partnership with the university’s existing owner, Global University Systems.

Birch Hill, Brookfield Acquire First National Stake. Birch Hill Equity Partners and Brookfield Asset Management have partnered to acquire First National Financial Corporation, a publicly listed lender focused on prime residential and commercial mortgages. Existing investors Stephen Smith and Moray Tawse will retain a one-third stake in the company, which will continue to be listed on the Toronto Stock Exchange.

Warburg Pincus, Berkshire Partners Take TRIUMPH Private. Warburg Pincus and Berkshire Partners have partnered to acquire Triumph Group, a publicly listed aerospace and defense spare parts designer, developer and manufacturer. The acquisition delists the company from the New York Stock Exchange.

Transom Capital Takes SigmaTron Private. Middle-market private equity firm Transom Capital Group has acquired SigmaTron International, a publicly listed electronics manufacturing services provider. Following the transaction, SigmaTron will delist from the New York Stock Exchange.

Turning Rock Backs Main Street Auto. Turning Rock Partners has announced a $60 million growth financing investment in Main Street Auto, a Georgia-based automotive aftermarket services company. Main Street operates about 100 locations across the Southern U.S. and provides auto repair and maintenance services.

KKR Acquires Healthcare Royalty Partners. Global investment firm KKR has acquired HealthCare Royalty Partners (HCRx), a biopharma royalty acquisition company. The investment, according to a press release, expands KKR’s footprint in the life sciences market.

Add-Ons

HCI’s LawnPRO Acquires Seacoast Tree & Turf. LawnPRO Partners, the lawncare platform backed by HCI Equity Partners, has acquired Seacoast Tree Care and Seacoast Turf Care. The businesses, collectively known as Seacoast Tree & Turf, operate across New Hampshire, Massachusetts and Maine.

Sentinel Capital’s MCA Acquires Wireless Concepts. Mobile Communications America (MCA), a critical communications solutions provider backed by Sentinel Capital, has acquired Wireless Concepts International. Wireless Concepts provides wireless engineering services. Its acquisition expands MCA’s wireless footprint across the Midwest, an announcement said.

Audax-Backed Fortis Acquires Serve First. Payments software platform provider Fortis, which is backed by Audax and Lovell Minnick, has acquired Serve First, expanding its B2B payments capabilities. Serve First is a B2B payments processor; its technology will be integrated into Fortis’ existing ERP and payments platform.

Renovus Capital’s DataServ Merges with xFact. DataServ, a managed IT, cybersecurity and infrastructure solutions provider backed by Renovus Capital Partners, has merged with xFact, an IT consulting and digital transformation company. The combined business offers enhanced digital transformation services to public institutions.

Strategics

Lyten Raises $200M for Add-on Investments. Lyten, a supermaterial applications company operating in the lithium-sulfur battery market, has announced it secured $200 million in equity funding to finance additional acquisitions. The company also announced it has acquired the rights to Northvolt’s energy storage products, including Voltpack Mobile Systems, Voltrack and additional BESS products that are in development.

Kindsight Acquires Affinaquest. Kindsight, a provider of fundraising intelligence software formed through a partnership between iWave and UC Innovation, has acquired Affinaquest. The company provides Advancement CRM and Athletics Data Solutions, supporting higher education institutions, athletic departments and academic medical centers with advanced analytics tools.

Leap Partners Acquires Cool Wizard. Leap Partners, a home services company operating in the Southeast, has acquired Cool Wizard Air Conditioning, according to a press release. Cool Wizard will continue to operate under its brand name. The transaction expands Leap Partners’ presence in Florida.

Exits

Audax Exits Stout. Audax Private Equity has completed the sale of global advisory firm Stout. Integrum Holdings LP acquired the company, according to a press release. Audax first acquired Stout in 2021 and since completed 10 add-on acquisitions for the business.

Peak Rock Exits Shipley Do-Nuts to Levine Leichtman. Levine Leichtman Capital Partners, a middle-market private equity firm, has acquired Shipley Do-Nuts, a donut brand headquartered in Texas. The firm acquired Shipley from its previous sponsor Peak Rock Capital.

One Equity, Warburg Pincus and Green Cement Exit Eco Material. Middle-market private equity firm One Equity Partners, along with growth investment firm Warburg Pincus and Green Cement Investments, announced they reached an agreement to exit Eco Material Technologies. Publicly listed CRH will acquire the company, which is a supplier of supplementary cementitious materials, in a $2.1 billion deal.

Aurora Capital Exits FMG Suite to GTCR. Private equity firm GTCR has reached an agreement to acquire FMG Suite from Aurora Capital Partners, according to a press release issued this week. FMG is a marketing automation solutions provider servicing wealth advisory and insurance professionals.

Insights

PE Due Diligence Startup Keye Launches. Keye announced this week its emergence from stealth mode to support due diligence for private equity firms. With $5 million in seed funding from an array of backers, including Sorenson Capital, General Catalyst and Y Combinator, the company offers a platform to manage due diligence data and provide analysis.

NJK Launches to Invest in Family Economy. A new private equity firm, NJK, has launched to invest in what it describes as the “family economy,” according to an announcement this week. Wall Street alums Kevin Nunez and Fatima Teos have launched the firm to invest in neighborhood businesses in family-centered places, with a focus on education, financial literacy and community entrepreneurship, the press release said.

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.