PE Weekly: Dealmakers Reach Across Private/Public Lines
Several exits see portfolio companies go public, while other PE deals take businesses private
Middle-market dealmakers still find themselves in a tough exit environment, and IPOs are a rare exit strategy these days. Even so, several transactions this week see portfolio companies go public, while other investors take companies private. Read more below.
Platform Investments
RF Acquires S&K Building Services. RF Investment Partners announced its acquisition of S&K Building Services in a recent press release. S&K provides window washing, pressure washing and metal and glass restoration services for commercial properties.
One Equity Takes Wheeler Fleet Solutions Private. One Equity Partners, a middle-market private equity firm, announced this week its acquisition of Wheeler Fleet Solutions. Wheeler, an aftermarket parts distribution business, is currently owned by publicly listed VSE Corporation, a provider of aerospace aftermarket distribution and repair services.
Grovecourt Capital Acquires MRI Imaging Business. Private equity firm Grovecourt Capital Partners announced this week its acquisition of IMRIS Imaging, an MRI imaging solution company. The business designs, manufactures and services proprietary MRI technologies.
Advent International Completes Sauer Brands Investment. Private equity firm Advent International has completed its previously announced acquisition of Sauer Brands from previous owner Falfurrias Capital Partners. Sauer is a condiments and seasoning platform.
Add-Ons
Aurora Capital’s Universal Pure Acquires Dora’s. Universal Pure Holdings, a portfolio company of Aurora Capital Partners that provides high-pressure processing food safety services, has acquired Dora’s Naturals. Dora’s services the food and beverage industry with distribution and processing solutions, and expands Universal Pure’s presence in the Northeast.
Strategics
Bronco Wine Acquires Wine Hooligans. Bronco Wines has acquires the remaining assets of Wine Hooligans at auction, according to a press release. Bronco had already been a majority owner in Wine Hooligans since 2023, the announcement noted. The investment means Bronco now fully controls to company and its wine brand portfolio, which includes Shortbread, Portlandia and others, as well as Wine Hooligans’ production facilities in California.
Buffkin / Baker Acquires Gallagher Executive Search Practice. Executive search firm Buffkin / Baker announced this week its acquisition of the U.S. executive search practice of Gallagher. Buffkin / Baker said the investment expands its national presence and strengthens its position in its core industries that include healthcare, private equity, technology, higher education and consumer.
PayRange Acquires Laundromat Technology Company. PayRange, a mobile payment solution provider for unattended retail, has acquired laundromat business management software company Turns. The investment expands PayRange’s existing machine payment platform with Turns’ solutions, which include pickup and delivery management, payments and more.
Exits
Cinven Exits Kurt Geiger to Steve Madden. Private equity firm Cinven has agreed to sell U.K.-based Kurt Geiger and its brand portfolio of shoes, boots and accessories to publicly listed Steve Madden. The transaction was made for approximately $356 million, according to a recent announcement. Steve Madden is listed on the Nasdaq.
CenterOak Exits Shamrock Environmental. Private equity firm CenterOak Partners announced the sale of Shamrock Environmental, an industrial waste and wastewater treatment service provider. Republic Services, which is listed on the New York Stock Exchange, has acquired the company. CenterOak first invested in Shamrock in 2016.
TZP Group Exits Soccer Post Ownership to Management. Private equity firm TZP Group has divested its majority stake in Soccer Post to management, which has acquired the business with financial backing of York Capital Management’s private equity group York Private Equity, as well as strategic investors. Soccer Post is an omnichannel soccer retailer based in New Jersey.
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.
