PE Weekly: M&A Roundup Sept. 25-Oct. 1

Platform Investments

Incline Equity Acquires The Conrad Company. Incline Equity Partners acquired The Conrad Company, a distributor and manufacturer of material handling, automation, and packaging equipment. Conrad serves warehousing, distribution, manufacturing, and e-commerce customers.

Transom Takes SoundThinking Private. Transom Capital Group agreed to acquire SoundThinking, a public safety technology company formerly known as ShotSpotter. SoundThinking provides solutions for gunshot detection, investigative intelligence, digital evidence management, and public safety analytics to law enforcement agencies. SoundThinking has ceased trading on the Nasdaq. The transaction values the business at approximately $114 million.

Webster Equity Takes Lifecore Biomedical Private. Webster Equity Partners agreed to acquire Lifecore Biomedical, taking the business private. Lifecore is a contract development and manufacturing organization specializing in sterile injectable products and complex formulations for pharmaceutical and biotechnology customers. The transaction values the business at about $663.7 million.

H.I.G. Acquires Torque. H.I.G. Capital completed its acquisition of Torque, a provider of omni-channel fulfilment and supply chain services, including warehousing and fulfillment. The business services high-growth consumer brands across e-commerce, retail, and wholesale.

H.I.G. Acquires Arco. H.I.G. Capital also completed its acquisition of Arco, the U.K.’s leading distributor of safety equipment and provider of site safety services. Arco supplies safety wear, personal protective equipment, training, and related services to infrastructure, defense, utilities, and healthcare customers.

Fusion Capital Acquires Pioneer Power. Fusion Capital Partners acquired Pioneer Power Group, a national provider of power system engineering and field services. Pioneer helps customers comply with OSHA, NFPA 70E, and National Electrical Code requirements through arc flash studies, electrical testing, maintenance, and engineering services for data centers, healthcare facilities, educational institutions, industrial facilities, and commercial customers.

Arclight Acquires Stake in IATP Power Portfolio. ArcLight Capital Partners completed the acquisition of a 50% ownership stake in a diversified 5.4-gigawatt power infrastructure portfolio, according to a press release. The portfolio consists of a mix of power generation assets positioned to benefit from growing electricity demand driven by data centers, artificial intelligence, manufacturing expansion, and electrification trends.

Add-ons

Renovus-Backed TJP Acquires Evolution Consulting. TJP, a life sciences consulting platform backed by Renovus Capital Partners, acquired Evolution Consulting & Research. Evolution provides market research, commercialization strategy, patient insights, and consulting services to pharmaceutical and biotechnology companies.

Strategics

PRADCO Acquires Kent Outdoors from Seawall. PRADCO Outdoor Brands has acquired Kent Outdoors and its portfolio of watersports brands, according to a recent announcement provided to ACG Insights. The strategic acquisition marks the company’s exit from Seawall Capital’s portfolio.

Exits

AEA Exits Spectrum Control to Greenbiar. Greenbriar Equity Group agreed to acquire Spectrum Control from AEA Investors. Spectrum Control designs and manufactures highly engineered electronic components, subsystems, and electromagnetic compatibility solutions used in aerospace, defense, medical, industrial, and telecommunications applications, and will serve as a new aerospace and defense platform investment for Greenbriar.

Audax Exits CGC to Rexel. After seven years, Audax Private Equity announced it reached an agreement to sell CGC, a provider of wire and cable, connectivity, power, and engineered solutions for critical infrastructure applications. Publicly listed Rexel, a distributor of energy management products and services, will acquire the business.

Astorg Exits Surfaces Group to TA Associates. TA Associates agreed to acquire Surfaces Group from private equity firm Astorg. Based in Italy, Surfaces Group is a leading manufacturer of abrasive tools and consumables used to cut, polish, and finish ceramic tiles, stone, glass, and metal products.

Insights

HighPost Capital Launches A&D Vertical. HighPost Capital launched a dedicated aerospace, defense, and cybersecurity investment vertical to pursue opportunities across national security, defense technology, aerospace services, mission-critical manufacturing, and cyber infrastructure.