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Fulcrum Carves Out Innovative Steam Technologies

Fulcrum Carves Out Innovative Steam Technologies

Fulcrum Capital Partners has partnered with the management of Innovative Steam Technologies to complete a carve-out of the company from Aecon Group. Innovative Steam Technologies (IST) designs, engineers, manufactures and installs heat recovery steam generators that are used in power generation and oil recovery applications.  IST’s customers include multi-nationals; power utilities; independent power producers; oil…

Tricor Pacific Acquires Certified Recycling

Tricor Pacific Acquires Certified Recycling

Tricor Pacific Capital has acquired Certified Recycling, a provider of recycling and waste services based in Southern California.  Tricor’s investment in Certified Recycling was made out of Tricor Pacific Capital Fund V, a C$345 million fund which closed in June 2014. “The investment from Tricor presents our family’s business with extraordinary opportunities, including the capital…

Azalea and Argosy Add-on to Ranger Aerospace

Azalea and Argosy Add-on to Ranger Aerospace

Azalea Capital and Argosy Private Equity and have added on to their Ranger AeroSystems platform with an investment in InTech Aerospace. InTech services and refurbishes heavy wear aircraft interior components such as seating, floor panels, windows, wall panels, trays, galleys and lavatories.  Customers include regional airlines, mainline carriers, large OEM’s, aircraft leasing companies, and other…

Genstar Acquires Boyd from Snow-Phipps

Genstar Acquires Boyd from Snow-Phipps

Genstar Capital has acquired Boyd Corporation, a manufacturer of gaskets and seals and other specialty products that are used in energy management and environmental sealing applications, from Snow Phipps Group which acquired the company in July 2012 from Sentinel Capital Partners. Boyd’s customers include multinational OEMs across various end markets, including the mobile computing, commercial…

Windjammer Exits Protective Industries

Windjammer Exits Protective Industries

Windjammer Capital Investors has sold its portfolio company Protective Industries to Berwind Consolidated Holdings, a family-owned investment management company.  Windjammer acquired Protective Industries through its third fund in May 2011. Protective Industries (DBA Caplugs) is a manufacturer of plastic protection products. The company’s products include molded and extruded caps, plugs, masking, and other products that…

Levine Leichtman Acquires Hand and Stone

Levine Leichtman Acquires Hand and Stone

Levine Leichtman Capital Partners (LLCP) has acquired Hand and Stone Franchise Corp., a franchisor of massage and facial spas.  Hand and Stone is the fifth investment made by Levine Leichtman’s fifth fund. Founded in 2004, Hand and Stone has over 200 locations across the US and Canada.  The company’s franchisees offer massage, facial and hair…

News

Thoma Bravo Closes Special Ops Fund at Cap

Thoma Bravo Closes Special Ops Fund at Cap

Thoma Bravo has completed fundraising for Thoma Bravo Special Opportunities Fund II at $1.06 billion. The fund closed at it hard cap and was oversubscribed.  The new fund will invest side-by-side with Thoma Bravo Fund XI, a $3.7 billion fund that closed in May 2014. “We are very appreciative of the investor support for this…

KKR Closes $1.3 Billion Direct Lending Fund

KKR Closes $1.3 Billion Direct Lending Fund

KKR Credit has held a final close of KKR Lending Partners II LP (Fund II), a $1.3 billion fund focused primarily on privately-originated senior loans.  The new fund is the successor fund to KKR Lending Partners I LP which exited its investment period in December 2014.  Fund II, which KKR began fundraising in early 2014,…

NXT Backs Gridiron Buy of Dent Wizard

NXT Backs Gridiron Buy of Dent Wizard

NXT Capital has provided a senior secured credit facility to support Gridiron Capital’s recent acquisition of Dent Wizard from H.I.G. Capital.  NXT was the Joint Lead Arranger, Administrative Agent and Sole Bookrunner for the transaction. Dent Wizard offers a range of reconditioning services for vehicles, such as removing dents, dings, creases and hail damage from…

Norwest Raises $2.4 Billion in New Equity and Mezzanine

Norwest Raises $2.4 Billion in New Equity and Mezzanine

Norwest Equity Partners (NEP) has formed Norwest Equity Partners X, LP (NEP X), a new $1.6 billion fund and Norwest Mezzanine Partners IV, LP (NMP IV), a new $800 million fund formed by NEP’s affiliated mezzanine investment firm, Norwest Mezzanine Partners (NMP). “It would be an understatement to say that this is an exciting time…

Sterling Launches Education Opportunity Fund

Sterling Launches Education Opportunity Fund

Sterling Partners has formed a new $200 million Education Opportunity Fund, its first-ever sector-focused fund, in partnership with USA Funds, a nonprofit organization that is active in promoting postsecondary-education. The Education Opportunity Fund will be led by Sterling co-founder and Senior Managing Director Chris Hoehn-Saric and Managing Directors Shoshana Vernick and Jason Rosenberg.  The fund…

WCAS Partners Up to Launch US Acute Care

WCAS Partners Up to Launch US Acute Care

Welsh, Carson, Anderson & Stowe and Emergency Medicine Physicians have partnered to launch US Acute Care Solutions (USACS).  USACS is tasked in building a national provider of emergency medicine and hospitalist services.  EMP’s Medical Group and practice management operations will become the operational foundation for USACS. Historically, according to WCAS, independent emergency medicine groups had…

New Platform

Fulcrum Carves Out Innovative Steam Technologies

Fulcrum Capital Partners has partnered with the management of Innovative Steam Technologies to complete a carve-out of the company from Aecon Group. Innovative Steam Technologies (IST) designs, engineers, manufactures and installs heat recovery steam generators…

Tricor Pacific Acquires Certified Recycling

Tricor Pacific Capital has acquired Certified Recycling, a provider of recycling and waste services based in Southern California.  Tricor’s investment in Certified Recycling was made out of Tricor Pacific Capital Fund V, a C$345 million…

Genstar Acquires Boyd from Snow-Phipps

Genstar Capital has acquired Boyd Corporation, a manufacturer of gaskets and seals and other specialty products that are used in energy management and environmental sealing applications, from Snow Phipps Group which acquired the company in…

Add-on

Azalea and Argosy Add-on to Ranger Aerospace

Azalea Capital and Argosy Private Equity and have added on to their Ranger AeroSystems platform with an investment in InTech Aerospace. InTech services and refurbishes heavy wear aircraft interior components such as seating, floor panels,…

Riverside Acquires Message On Hold Plus

Riverside is continuing the build of its Spectrio on-hold marketing messaging platform with the buy of Message On Hold Plus (MOHPlus). MOHPlus provides on-hold messaging at approximately 1,500 locations and it provides additional services including…

Audax Acquires Medical Measurement Systems

LABORIE Medical Technologies, a portfolio company of The Audax Group, has acquired Medical Measurement Systems a developer and distributor of medical diagnostic systems. “This is a very strategic acquisition for LABORIE,” said Brian Ellacott, LABORIE…

Brazos Continues the Build of BlackHawk

BlackHawk Industrial Distribution, a portfolio company of Brazos Private Equity Partners, has completed the acquisitions of Packaging, Inc. and Pioneer Tool Supply, the 11th and 12th add-on acquisitions completed by BlackHawk since its formation by…

Exit

Windjammer Exits Protective Industries

Windjammer Capital Investors has sold its portfolio company Protective Industries to Berwind Consolidated Holdings, a family-owned investment management company.  Windjammer acquired Protective Industries through its third fund in May 2011. Protective Industries (DBA Caplugs) is…

H.I.G. Sells Dent Wizard to Gridiron Capital

H.I.G. Capital has completed the sale of Dent Wizard International to Gridiron Capital.  In November 2010, H.I.G. acquired Dent Wizard through a carve-out from Manheim Auctions, a wholly owned subsidiary of Cox Enterprises, and recruited…

Triton Pacific Exits Columbia Medical

Columbia Medical Manufacturing, a portfolio company of Triton Pacific Capital Partners that develops and markets pediatric rehabilitation products, has been acquired by medical equipment manufacturer Drive Medical. This was a successful investment for Triton Pacific. …

Inverness Graham Exits AdvancedCath

Inverness Graham has completed the sale of AdvancedCath, a designer and manufacturer of catheter systems, to publicly traded TE Connectivity Ltd. (NYSE: TEL) for $190 million in cash. AdvancedCath designs and manufactures catheter systems that…

Financing

NXT Backs Gridiron Buy of Dent Wizard

NXT Capital has provided a senior secured credit facility to support Gridiron Capital’s recent acquisition of Dent Wizard from H.I.G. Capital.  NXT was the Joint Lead Arranger, Administrative Agent and Sole Bookrunner for the transaction.…

Abacus Backs Riverside’s Buy of R&D Altanova

Abacus Finance was the Administrative Agent and Joint Lead Arranger for a group of senior secured credit facilities used to support the recent investment in R&D Altanova by Riverside Partners.  Abacus also made an equity…

TIAA-CREF Launches Churchill Asset Management

Financial services provider TIAA-CREF has launched Churchill Asset Management, a new majority-owned subsidiary that will originate, underwrite and manage senior loan investments primarily in US-based middle-market companies.  Churchill Asset Management is led by the former…

GE Antares backs Irving Place Buy of Bendon

GE Antares was the administrative agent on a $138 million senior secured credit facility to support the recent acquisition by Irving Place Capital of Bendon, a provider of non-licensed and licensed children’s coloring and activity…

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