PE Weekly: Textiles, Appliances and Beverages

Platform Investments

Altus Capital, Centerfield Partner for ALM Acquisition. Altus Capital Partners and Centerfield Capital Partners have jointly announced their collaborative platform investment in ALM Positioners alongside ALM management. ALM provides automated positioning equipment for manufacturers.

Hidden River Invests in Miles Ahead Brands. Hidden River Strategic Capital announced recently its investment in Miles Ahead Brands, a family of distribution companies operating across the Southeast and Southwest. The investment includes debt and equity financing; Hidden River plans to grow the business through strategic acquisitions and organic expansion.

Wellspring Capital Acquires Summit Spine & Joint Centers. Wellspring Capital Management, a New York-based private equity firm, has acquired Summit Spine & Joint Centers from its exiting sponsor, MSouth Equity Partners. Summit provides minimally invasive spine services across the Southeast.

S5 Equity Acquires Howard’s Appliances. Investment firm S5 Equity has acquired Howard’s Appliances, a retailer selling appliances and mattresses across Southern California. Howard’s pointed to S5’d experience in retail, e-commerce and operational transformations as its motivation behind partnering with the firm.

Reichmann Segal Acquires OES. Ardenton Capital Corporation has exited OES Inc. to Reichmann Segal Capital Partners, a Toronto-based private equity firm, according to a press release. OES provides LED video scoreboards, electronic manufacturing services and custom technology solutions used by the NHL, NBA and NFL.

Add-Ons

FalconPoint’s Jennmar Acquires All tech Engineering. FalconPoint Partners portfolio company Jennmar, a provider of global infrastructure products for the construction, mining, cival and solar sectors, has acquired All Tech Engineering. The company provides specialized automated machinery. A press release said Jennmar has formed an automated division, Jennmar Automation, as a result of the add-on.

Harrison Street’s 1547 Acquires DRFortress. Harrison Street-backed fifteenfortyseven Critical Systems Reality (1547), a data center owner and operator, has acquired DRFortress, according to an announcement. DRFortress is Hawaii’s largest carrier-neutral data center. The transaction followed its former sponsor, GI Partners, exiting the business.

Susquehanna Growth’s U.S. Compliance Acquires OECS. Environmental, health and safety service provider U.S. Compliance, backed by Susquehanna Growth Equity, has acquired OSHA/Environmental Compliance Systems (OECS). The company has a strong presence in the upper Midwest and expands U.S. Compliance’s presence in the region.

Stellex’s Fenix Parts Acquires Assured Auto Parts. Stellex Capital Management-backed Fenix Parent, which operates as Fenix Parts, has acquired Assured Auto Parts. Fenix is a recycler and reseller of original equipment manufacturer auto parts; Assured similarly operates in the automotive recycling parts industry.

Genstar Capital’s Vector Solutions Acquires ArdentSky. Vector Solutions, a provider of compliance technology and software, has acquired ArdentSky, a provider of compliance solutions for the gaming industry. The investment expands Vector’s operations in the casinos and gaming sector.

Braemont’s Loenbro Acquires Stewart Electrical. Braemont Capital-backed Loenbro, a provider of specialized services to the data center and infrastructure market, has acquired Stewart Electric. Stewart is an electrical service provider targeting the data center market.

Lindsay Goldberg’s Kleinfelder Acquires V&K. Kleinfelder Group, an engineering, design and environmental professional services group backed by private equity firm Lindsay Goldberg, has acquired Veenstra & Kimm (V&K). V&K provides design, engineering and environmental services throughout the Midwest region.

Strategics

Castillo Hermanos Acquires Harvest Hill Beverage Company. Business group Castillo Hermanos has acquired Harvest Hill Beverage Company and its family of brands, according to an announcement made this week. Harvest Hill incudes SunnyD, Juicy Jucie and Little HUG brands.

Wilsonart Acquires Assets of Transom Capital’s Artivo Surfaces. Transom Capital Group-backed Artivo Surfaces has exited assets of its Virginia Tile division to Wilsonart Engineered Surfaces, according to a recent announcement. Wilsonart, an engineered surfaces company, acquired the woodworking products distribution business of Virginia Tile, allowing Virginia Tile to focus on its core flooring and surface solutions.

Sierra Financial Holdings Acquires Preferred Security. Sierra Financial Holdings, a loan agency and financial services provider, has acquired Preferred Security Life Insurance Company, according to a recent press release. Sierra said the business fits into its strategic growth plan and complements existing portfolio companies.

Exits

SK Capital Exits Florachem to Tradebe Life Sciences. SK Capital Partners, a private investment firm targeting the specialty materials, ingredients and life sciences sectors, has exited Florachem Corporation. Tradebe, a global business group focused on sustainability, acquired the business, which manufactures and supplies specialty ingredients for use in flavoring, fragrances, industrial solutions and other markets.

Fundraising

RCP Advisors Raises $994 Million. Private equity investment firm RCP Advisors has raised about $994 million for its RCPDirect V fund, according to an announcement provided to Middle Market Growth. The firm exceeded its fundraising target of $800 million to invest in lower middle-market companies.

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.