PE Weekly: Specialized Services Capture Dealmakers’ Attention

Platform Investments

Francisco Partners Takes Jamf Private. Investment firm Francisco Partners has completed its acquisition of Jamf, an enterprise management and security solution for Apple at work. The transaction values Jamf at about $2.2 billion and takes the company private.

Capstreet Acquires TOPS Field Services. Turbine maintenance and outage services provider TOPS Field Services has been acquired by lower middle-market private equity firm Capstreet, according to a recent announcement.

Crestview Partners Acquires Tailwind Hospitality. Crestview Partners has acquired Tailwind Hospitality, according to a press release. The company provides aviation services focused on food, beverage, and retail concessions within non-hub and regional airports.

Skyline Investors Acquires Buddy’s Home Furnishings. Skyline Investors, a private equity firm focused on micro-market companies, has acquired Buddy’s Home Furnishings. The rent-to-own retailer and franchisor sells furniture, electronics, and appliances.

Littlejohn Acquires 80/20. Littlejohn & Co. announced this week it acquired 80/20 from MPR Partners. The company provides modular framing solutions for automation, productivity, and safety across a variety of end markets.

Patria Investments Acquires WP Global. Patria Investments announced its acquisition of WP Global this week. Patria is a middle-market alternative asset manager, while WP is a U.S. private equity manager focused on the lower-middle market.

Morgan Stanley Capital Partners Acquires Nivel. Morgan Stanley Capital Partners, the middle-market private equity unit of Morgan Stanley Investment Management, has acquired Nivel Parts & Manufacturing. The company manufactures and supplies branded aftermarket parts for personal transportation vehicles and heavy-duty equipment.

Add-Ons

Gryphon’s Vision Innovation Partners Acquires Ophthalmic Associates. Vision Innovation Partners, an eye care platform operating in the Mid-Atlantic, has acquired Ophthalmic Associates of Alexandria, an ophthalmology practice in Virginia. The investment is Vision Innovation Partners’ 27^th add-on since being founded in 2017 by its sponsor Gryphon Investors.

Jacmel Partners’ Virtual Technologies Group Acquires Whitlock. Virtual Technologies Group, an IT, security, and cloud services company, has acquired Whitlock Infrastructure Solutions, a software solutions and IT services firm. Virtual Technologies Group is backed by Jacmel Partners, an alternative investment firm.

THL’s Red Nucleus Acquires Bridge Medical. Red Nucleus, a strategic services provider to the biopharmaceutical industry, has acquired Bridge Medical Consulting. The company specializes in health economics and outcomes research (HEOR). Red Nucleus is backed by THL Partners.

Granite Creek’s Seedbox Merges with Trace Engineering. Seedbox, a provider of reusable packaging, fleet management, and tech-enabled monitoring solutions to the seed industry, announced its merger with Trace Engineering this week. Trade is a hardware and software engineering firm. Seedbox is a portfolio company of Granite Creek Capital Partners.

MiddleGround’s New Eagle Acquires Pi Innovo. MiddleGround Capital announced its acquisition of Pi Innovo from Dana Incorporated. Pi Innovo designs and develops open platform electronic control systems and control software. The company will be integrated into MiddleGround’s New Eagle platform, a provider of hardware and software controls technology.

Incline Equity’s VMG Health Acquires Burrows Consulting. Healthcare consulting firm VMG Health has acquired Burrows Consulting, according to a recent announcement. VMG Health is a portfolio company of Incline Equity Partners.

Monogram Capital’s Precision Door Acquires Foris Solutions. Precision Door Tri-State has acquired Foris Solutions, a precision door service franchisee, according to a press release. Monogram Capital Partners is the sponsor of Precision Door Tri-State.

Trinity Hunt Launches HVAC Platform, Adds Fenco. Trinity Hunt Partners has launched its Averon Group HVAC distribution platform, as well as its acquisition of Fenco Supply. The investment marks the platform’s second add-on following its investment in Blackhawk Supply.

Renovus Capital’s Superior Health Acquires Pulse Home Health. Renovus Capital Partners-backed Superior Health Holdings, a provider of home health and hospice services, has acquired Pulse Home Health and Hospice. The investment expands Superior’s presence across Louisiana.

CORE Industrial’s IMMEC Acquires Helton Electrical. IMMEC, a facility maintenance, retrofit, and renovation services provider backed by CORE Industrial Partners, has acquired Helton Electrical Services. The company provides electrical, utility, and HVAC repair, maintenance, and installation services.

Exits

Stoneridge Exits Control Devices Unit to Center Rock. Stoneridge, an electronics systems supplier, announced the sale of its Control Devices unit to Center Rock Capital Partners. The private equity firm carved out the business, which will operate privately.

GenNx360 Exits Precision Aviation. Private equity firm GenNx360 Capital Partners has sold portfolio company Precision Aviation Group to publicly listed VSE Corporation, a provider of aviation aftermarket distribution and repair services. Precision Aviation provides aviation maintenance, repair, and overhaul services, as well as supply chain solutions, to the aviation and defense sectors.

MiddleGround Exits Vytl Controls. Private equity firm MiddleGround Capital announced the exit of Vytl Controls Group, formerly known as PVI Holdings, to strategic acquirer SunSource. Vytl provides flow control distribution, service and repair, and design and manufacturing solutions for the chemical, downstream energy, marine, and other industrial end markets.

LBO France Exits Dutscher Group to Vivo Capital. LBO France, an investment platform specializing in private equity, has reached an agreement to sell Dutscher Group. LBO will exit the business, a consumables and equipment distributor to R&D laboratories, to healthcare- and life sciences-focused investment firm Vivo Capital.

Wynnchurch Exits Team Car Care. Wynnchurch Capital, a middle-market private equity firm, announced the sale of Team Car Care. The company provides quick oil change services as an operator and franchisee of the Jiffy Lube brand. Triple JJJ Lube acquired the business.

Strategics

Valtris Specialty Chemicals Exits Renewables Unit. Ohio-based Valtris Specialty Chemicals, a global manufacturer of specialty additives, has sold its Champlor Renewables business. The France-based business was acquired by Avril Industrie.

Fundraising

BayHawk Closes Inaugural Fund. BayHawk Capital, a private equity firm focused on technology and essential services, has announced the close of its inaugural fund. BayHawk Capital Fund I closed with $616 million in capital commitments, surpassing its initial target of $475 million.

Shore Capital Closes Second Industrials Fund. Shore Capital Partners, a private equity firm based in Chicago, has closed its second Shore Capital Industrial Partners Fund (Industrials Fund II). The fund closed with more than $400 million in capital commitments.

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.