Morgenthaler Acquires United Pipe & Steel
Morgenthaler Private Equity has acquired United Pipe & Steel Corp., a distributor of steel, copper and plastic pipe. UP&S Founder and Owner, David Cohen, will retain a substantial ownership interest and President and CEO Greg Leidner will continue to lead the company. United Pipe & Steel is an independent master distributor of steel pipe, copper…
Clearlake Exits Solutionary
Clearlake Capital has entered into an agreement to sell its portfolio company Solutionary, a managed security services provider, to Nippon Telegraph and Telephone (NTT). The transaction is expected to close in the third quarter of 2013. Clearlake acquired Solutionary in November 2011. Solutionary is a provider of managed security services used to protect traditional and…
CI Capital Partners Exits Transplace
CI Capital Partners has completed the previously announced sale of its portfolio company, Transplace, a provider of non-asset based third party logistics, to Greenbriar Equity Group. Transplace is a provider of non-asset based third party logistics, intermodal and truck brokerage services. The company provides full transportation outsourcing, carrier contracting and negotiation, and freight brokerage services.…
Fundamental Capital Acquires Funko
Fundamental Capital has acquired Funko, a designer and marketer of licensed collectible products such as vinyl figures, bobble-heads and plush characters. “Over the last several years, CEO Brian Mariotti and the entire Funko team have built an exceptional business in the space where collectibles and pop culture meet. We are honored and excited to partner…
Breakwater Invests in Consensus
Breakwater Investment Management has provided a $7.75 million unitranche facility to Consensus Orthopedics, a manufacturer of hip and knee implants. Breakwater first invested in the company in February 2010. The new facility, consisting of both a revolving working capital line of credit and a term loan, will be used to refinance the company’s existing bank…
Incline Equity Partners Exits Portec Group
Portec Group International, a manufacturer of conveyor belt turns and spirals and a portfolio company of Incline Equity Partners, has been sold to The Interroll Group. Incline Equity Partners (previously PNC Equity Partners) acquired Portec from Code Hennessy & Simmons in March 2005. Portec Group International is a manufacturer of power belted turn and spiral…
KPS Completes Second Dividend Recap of Waupaca Foundry
KPS Capital Partners has completed a second dividend recapitalization of its portfolio company, Waupaca Foundry. The proceeds of this recapitalization, funded by a $125 million upsizing of the company’s term loan, were used to fund a $125 million cash distribution to stockholders. Financing for the recapitalization was provided by a syndicate of banks and institutional…
Piper Jaffray Acquires Investment Bank Edgeview Partners
Piper Jaffray has entered into an agreement to acquire middle-market investment bank Edgeview Partners. The transaction is expected to close in the third quarter of 2013. Edgeview Partners provides merger and acquisition advisory services to middle-market clients and private equity firms across a range of industries including business services, transportation and logistics, industrials, healthcare, applied…
Babson Backs Main Street’s Buy of Hi-Rel
Babson Capital Management has provided subordinated debt and made an equity co-investment to support Main Street Capital Holdings’ acquisition of the Hi-Rel Group. Babson Capital was the sole provider of subordinated debt on the transaction. “Main Street is pleased to have the support of our valued longtime partner Babson Capital on our investment in the…
Evercore Raises $201 Million Fund
Evercore has closed fundraising for its third Mexican focused private equity fund, Evercore Mexico Capital Partners III (EMCP III), with $210 million of commitments. The fund was oversubscribed and includes a variety of institutional investors and family offices. Approximately 40% of EMCP III is composed of limited partners that invested in Evercore Mexico Capital Partners…
Mesirow Financial Advises H.I.G. Portfolio Company on Latest Add-On
Mesirow Financial acted as the exclusive financial advisor to SeaStar Solutions, a portfolio company of H.I.G. Capital, in its recent acquisition of INCA Molded Products. INCA Molded Products is a manufacturer of rotationally molded plastic products including fuel tanks and other products for the marine industry. The company was founded in 1979 and is based…
Indiana Public Retirement System Selects The Carlyle Group and AlpInvest
The Carlyle Group and AlpInvest Partners have been selected by the Indiana Public Retirement System (INPRS) to manage an existing $155 million fund, Indiana Investment Fund I, a 2006-vintage vehicle that was previously managed by Credit Suisse. “We are pleased to deepen our relationship with INPRS by managing this legacy portfolio. Our mandate is to…
