PE Weekly: From Roofing to Legal Case Management, M&A Diversifies

Platform Investments

SK Capital Invests in Spectrum Vascular. SK Capital Partners, a private investment firm based in New York, invested in Spectrum Vascular, the firm said this week. Spectrum provides vascular access and medication management products to reduce healthcare-acquired infection. The transaction sees SK partnering with Spectrum’s existing majority investor Event Capital Strategies to recapitalize the company; ECS will retain a “significant” stake in the business, the announcement said.

Audax Backs Lanter Delivery Systems. Audax Private Equity said this week it acquired a majority stake in Lanter Delivery Systems, a provider of overnight, unattended delivery of Original Equipment Manufacturer parts to auto dealerships. The investment followed Equity Group Investment’s exit from the company.

Wendel Group Acquires Majority Stake in Monroe Capital. Wendel Group, a publicly listed European investment firm, has completed its previously announced partnership with asset management firm Monroe Capital. The transaction includes Wendel’s acquisition of a majority stake in Monroe as well as a commitment of $1 billion for seed capital and GP commitments for current and future Monroe investment strategies. The investment includes a minority investment from AXA IM Prime.

Schneider Resource Adds to Agricultural Machinery Portfolio. Schneider Resources Holding (SRH), a private investment firm, has expanded its agricultural machinery investments with the acquisition of Foxland Incorporated. The investment joins Foxland with SRH’s existing agricultural machinery portfolio company Fritsch Equipment and Services, LLC. A press release provided to Middle Market Growth describes the addition of Foxland as a “sister company” to Fritsch.

Add-Ons

New State’s PAX Acquires Hi-Tech Roofing. PAX Services Group, a portfolio company of New State Capital Partners that provides roofing and exterior services, recently announced its acquisition of Hi-Tech Roofing & Sheet Metal. The investment marks PAX’s second expansion into the Florida market.

Palm Beach’s Earth Systems Acquires Spangler Environmental. Earth systems, an environmental consulting firm backed by Palm Beach Capital, has acquired Spangler Environmental, according to a recent press release. Spangler is also an environmental consulting firm and expands Earth Systems’ solutions into the Carolinas markets.

Renovus Capital Merges Angeion Group, Case Works. Angeion Group, a provider of end-to-end litigation support, has announced its merger with Case Works, a provider of case data management solutions. The integration of Case Works functionality within Angeion enhances the company’s ability to provide tech-enabled support for litigation firms and lar departments, an announcement stated. Renovus Capital Partners invested in both businesses in 2024.

Huron Capital’s Rampart Exterior Acquires Port Enterprises. Rampart Exterior Services, a roofing repair and maintenance service provider backed by lower middle-market private equity firm Huron Capital, has acquired Port Enterprises. The investment marks the second add-on acquisition for Rampart and expands its operations in Texas.

Bessemer’ Tencarva Acquires Atlantic Valve. Tencarva Machinery Company, a distributor and service provider of flow control and process equipment for the industrial sector, has acquired Atlantic Valve & Equipment. Atlantic Valve is a manufacturer’s representative for valve brands servicing the municipal and industrial water and wastewater markets. Tencarva is backed by Besemer Investors.

Strategics

Crystal Bay Acquires Rogge’s. Wisconsin’s Crystal Bay Food Holdings, a family-owned seafood and meat products business, has announced this week its acquisition of local family business Rogge’s Sausage Inc. A press release provided to Middle Market Growth said the company will be rebranded as Rogge’s Foods, LLC.

Fundraising

RCP Advisors Raises $170 Million. Private equity investment firm RCP Advisors announced the close of RCP Small and Emerging Fund III, LP, with about $170.3 million in capital commitments. The fund, which exceeded its fundraising target, will focus on North American buyout fund managers raising their second institutional fund or earlier.

Waterous Energy Fund Raises $980 Million. Waterous Energy Fund, a Canada-based private equity firm focused on the oil and gas sector, announced the close of its latest fund with C$1.4 billion in capital commitments (about USD $980 million). Waterous Energy Fund III has so far invested in Greenfire Resources, a thermal oil production company.

Insights

Monroe Capital Partners with Wendel Group. Wendel Group, a publicly listed European investment firm, has partnered with Monroe Capital to commit $1 billion for seed capital and GP commitments for Monroe investment strategies.

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.