PE Weekly: Strategics Spur Dealmaking in Media
While private equity continues its focus on services, healthcare and industrials
Private equity dealmakers continue to end the year with a focus on some tried-and-true sectors, including the tech-enabled business services, healthcare and industrials markets. But it was the media sector that caught the attention of strategics this week, with two high-profile brands striking deals. Review some of the latest in middle-market M&A below.
Platform Investments
Gryphon Investors Backs phData. Gryphon Investors, a middle-market private equity firm, has completed its majority growth recapitalization of phData, a press release said. The company develops modern data applications and AI solutions, offering data engineering, AI and machine learning, analytics and visualization solutions. The investment is Gryphon’s fourth platform investment in a technology solutions and services business.
Comvest Recapitalizes Bland Landscaping. Comvest Private Equity, a middle-market private equity investment firm, announced recently the recapitalization of Bland Landscaping, a commercial landscaping service provider operating in the Carolinas. The company will use the support to invest in its people and infrastructure, a press release noted.
Avance, AUA Partner for Tropical Cheese Investment. Avance Investment Management and AUA Private Equity Partners, both Hispanic-led investment firms, have announced their partnership to invest in Tropical Cheese Industries. The business is a Hispanic food brand for cheese, meat and other food products
Amulet Capital Invests in Theoria Management. Middle-market private equity firm Amulet Capital Partners announced its investment in Theoria Management, a tech-enabled management service organization servicing senior living communities. Amulet focuses exclusively on the healthcare sector.
Add-Ons
Lone View’s CargoSprint Acquires Advent eModal. CargoSprint, a payments and workflow solutions provider for the cargo industry, has acquired Avent Intermodal Solutions (Advent eModal), according to a recent press release. Advent eModal is the world’s largest port community platform, and will expand CargoSprint’s footprint and capabilities in the market servicing air, sea and land freight. CargoSprint is a portfolio company of Lone View Capital.
Apax’s Altus Fire Acquires FCS. Altus Fire & Life Safety, a provider of fire and life safety services, announced it has acquired Facility Compliance Services and Facilities Compliance Fire Protection (FCS). FCS provides inspection, testing, maintenance and compliance services. Altus is a portfolio company of Apax Partners.
Reynolda Equity Partners’ Specialty Appliances Acquires Express Dental Laboratory and International Dental Arts. Specialty Appliances, a orthodontic laboratory, has acquired Express Dental Laboratory and International Dental Arts, Inc., both full-service dental laboratories. Specialty Appliances is a portfolio company of Reynolda Equity Partners.
Strategics
Virgin Music Group Acquires Downtown Music. Virgin Music Group, a division of Universal Music Group, announced it entered into an agreement to acquire Downtown Music Holdings for $775 million. The investment will merge the providers of client services and music technology, and is expected to close in the second half of 2025, an announcement said.
Hearst Magazines Acquires MotorTrend Group. Hearst Magazines, a division of Hearst Communications, has announced its acquisition of MotorTrend Group, a Warner Bros. Discovery business. The acquisition includes MotorTrend Magazine and a portfolio of automotive digital, direct-to-consumer, social, print and live event brands.
QuestionPro Acquires SpatialChat. QuestionPro, an online survey and research services provider, has acquired SpatialChat, a European video streaming and collaboration platform. The investment will allow SpatialChat to further develop its technology and advanced AI capabilities, per the press release.
Exits
Carlyle Exits Forgital Group to Stonepeak. Alternative investment firm Stonepeak announced Carlyle is selling Forgital Group, a manufacturer of advanced forged and machine-finished components for the aerospace and industrial sectors. Stonepeak, which specializes in infrastructure and real assets, is acquiring the company and expects the transaction to close in the second quarter of 2025.
Insights
ACG Detroit Nominations for Inspire & Ignite Awards Now Open. ACG Detroit is now accepting nominations for the second-annual Inspire & Ignite Awards, the chapter announced recently. Winners will be announced and celebrated at the 2025 Inspire & Ignite: Women’s Forum Luncheon in March. Nominations are open for the Igniting Inspiration Award, and Inspiring Impact Award. The deadline to submit a nomination is Friday, Jan. 10, 2025. Nominations can be made here: acg.org/detroit/events/acg-detroit-inspire-ignite-2025-womens-forum-luncheon.
Deloitte Corporate Finance Releases Q3 M&A Insights. New data from Deloitte Corporate Finance has revealed recent trends for M&A activity. Analysis found divestitures declined slightly in the year’s third quarter after more than a year of steady growth. Further, private equity accounted for more than one-third of divestiture deals in Q3, up from 29.6% the year prior.
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.
