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Larsen MacColl Exits A&S, Hits 24x Return

Larsen MacColl Exits A&S, Hits 24x Return

Larsen MacColl Partners has sold its portfolio company A&S Services Group to Celadon Group for $55 million and realized a 24x multiple of its invested capital from the sale. The transaction closed on October 24, 2014. A&S Services Group is a provider of transportation, warehousing, distribution and logistics services in the Northeast and Mid-Atlantic region,…

Levine Leichtman Acquires Justin Craig Education

Levine Leichtman Acquires Justin Craig Education

Mander Portman Woodward, a portfolio company of Levine Leichtman Capital Partners (LLCP), has acquired Justin Craig Education, one of the United Kingdom’s leading exam preparation and tutoring businesses. Mander Portman Woodward (MPW) is a provider of private education for students in their transition from secondary school into UK universities.  MPW offers courses to over 1,000…

Welsh, Carson, Anderson & Stowe Exits Matrix Medical

Welsh, Carson, Anderson & Stowe Exits Matrix Medical

Welsh, Carson, Anderson & Stowe has completed the sale of its portfolio company, Matrix Medical Network, to the Providence Service Corporation (Nasdaq: PRSC) for a purchase price of $400 million, including $360 million in cash and shares of Providence common stock with a value at closing of $40 million. The Welsh, Carson, Anderson & Stowe…

Francisco Partners Acquires Vendavo

Francisco Partners Acquires Vendavo

Francisco Partners has completed the acquisition of Vendavo, a provider of business-to-business pricing optimization strategies. Vendavo provides price optimization and management services that are used by its customers to make better data-driven decisions for pricing and sales effectiveness. The company serves B2B mid-market and enterprise companies in the chemicals and process industries, consumer packaged goods,…

Palladium Exits Teasdale Foods

Palladium Exits Teasdale Foods

Palladium Equity Partners has completed the sale of Teasdale Foods, a producer and marketer of bean and hominy products, to Snow Phipps Group. Teasdale represents the third sale of a portfolio company by Palladium this year.  Earlier this year, Palladium sold its portfolio companies ABRA Auto Body & Glass – a national provider of vehicle…

Tonka Bay Exits AeroSystems Engineering

Tonka Bay Exits AeroSystems Engineering

Tonka Bay Equity Partners has completed the sale of AeroSystems Engineering, a provider of testing and engineering services, to Gen Cap America. AeroSystems Engineering is a global provider of testing and engineering services to the aerospace, energy, and military markets.  The company is based in St. Paul (www.aseholdings.com). Tonka Bay acquired AeroSystems Engineering in 2006…

News

Bregal Sagemount Moves into Senior Debt

Bregal Sagemount Moves into Senior Debt

Bregal Sagemount has added senior debt as a new investment option for its debut fund, Bregal Sagemount I, LP (Fund I), a $500 million fund that closed in June 2012.  To provide funding for the new effort, Bregal Investments has increased its commitment to Fund I by $150 million bringing total capital commitments to $650…

American Capital Super Busy in Third Quarter

American Capital Super Busy in Third Quarter

In the third quarter of 2014 the Sponsor Finance Group of American Capital invested approximately $220 million to back new platform and add-on acquisitions made by private equity firms. “During the third quarter, our Sponsor Finance team not only made six investments in new platform companies, but also provided several incremental investments to support existing…

Versa Closes Dividend Recap of Avenue Stores

Versa Closes Dividend Recap of Avenue Stores

Avenue Stores, a portfolio company of Versa Capital Management, has completed a recapitalization that provides capital to fund additional growth and to provide for a payment of a significant dividend to its shareholders.  Following the recapitalization, Versa, along with management, continues to own 100% of the company’s equity interests. Versa and management acquired Avenue Stores…

Gauge Closes Debut Fund Above Target and at Max Cap

Gauge Closes Debut Fund Above Target and at Max Cap

Gauge Capital has held a final closing of the firm’s debut fund, Gauge Fund LP, at $250 million.  Gauge began fundraising in April 2014 with a target of $175 million, and in September held an oversubscribedfinal closing at its self-imposed limit of $250 million in commitments. Gauge Capital invests from $10 million to $50 million…

MVC Recruits Fifth Third Mezzanine Team

MVC Recruits Fifth Third Mezzanine Team

MVC Capital has added four new debt professionals to its team with the hiring’s of David Williams, Harrison Mullin, David Gardner and Scott Foote. All four were previously employed by Fifth Third Bancorp’s Mezzanine Finance Group which Mr. Williams co-founded in 1999.  The new team members will join Tokarz Group Advisers, the external manager of…

TSG Consumer Partners Names Paula Sutter as CEO of TSG Fashion

TSG Consumer Partners Names Paula Sutter as CEO of TSG Fashion

TSG Consumer Partners, an equity investor in high-growth consumer brands, has appointed Paula Sutter as CEO of TSG Fashion. In this newly created position, Ms. Sutter will work with the CEOs and management teams of REVOLVE, Paige, Alexis Bittar and others in the TSG Fashion portfolio. She will also identify and develop new investments in…

New Platform

Comvest Acquires Old Time Pottery

Comvest Partners has completed the acquisition of Old Time Pottery, a discount retailer of home décor products.  The investment in Old Time Pottery was made through Comvest Investment Partners Fund IV. Old Time Pottery is…

Gryphon Investors Acquires C. B. Fleet

San Francisco-based middle market private equity firm Gryphon Investors has acquired a majority equity interest in C. B. Fleet Company (DBA Fleet Laboratories).  Fleet’s management team, along with several additional investors, will hold minority stakes…

Centre Partners Invests in Stonewall Kitchen

Centre Partners has made an investment in Stonewall Kitchen, a specialty food producer and retailer.  Stonewall Kitchen will continue to be managed by its existing team with the addition of Centre Operating Partner John Stiker…

Add-on

Levine Leichtman Acquires Justin Craig Education

Mander Portman Woodward, a portfolio company of Levine Leichtman Capital Partners (LLCP), has acquired Justin Craig Education, one of the United Kingdom’s leading exam preparation and tutoring businesses. Mander Portman Woodward (MPW) is a provider…

CI Capital Acquires Addipel

Maroon Group, a portfolio company of CI Capital Partners, has acquired Addipel, a specialty chemical company.  The acquisition of Addipel is the first add-on acquisition completed by CI Capital Partners since it acquired Maroon Group…

Keystone Capital Adds-on Hokanson Carpets

Scott Group Custom Carpets, a portfolio company of Keystone Capital acquired in February 2014, has acquired Hokanson Carpets. Hokanson Carpets is a provider of high end residential carpeting. The company has been involved in some…

RLJ Equity Partners Acquires Zak

LAI International, a portfolio company of RLJ Equity Partners, has acquired Zak Incorporated, a contract manufacturer of components used in the power generation, specialty metals, and oil & gas industries. “RLJ Equity Partners is delighted…

Exit

Larsen MacColl Exits A&S, Hits 24x Return

Larsen MacColl Partners has sold its portfolio company A&S Services Group to Celadon Group for $55 million and realized a 24x multiple of its invested capital from the sale. The transaction closed on October 24,…

Welsh, Carson, Anderson & Stowe Exits Matrix Medical

Welsh, Carson, Anderson & Stowe has completed the sale of its portfolio company, Matrix Medical Network, to the Providence Service Corporation (Nasdaq: PRSC) for a purchase price of $400 million, including $360 million in cash…

Francisco Partners Acquires Vendavo

Francisco Partners has completed the acquisition of Vendavo, a provider of business-to-business pricing optimization strategies. Vendavo provides price optimization and management services that are used by its customers to make better data-driven decisions for pricing…

Palladium Exits Teasdale Foods

Palladium Equity Partners has completed the sale of Teasdale Foods, a producer and marketer of bean and hominy products, to Snow Phipps Group. Teasdale represents the third sale of a portfolio company by Palladium this…

Financing

Bregal Sagemount Moves into Senior Debt

Bregal Sagemount has added senior debt as a new investment option for its debut fund, Bregal Sagemount I, LP (Fund I), a $500 million fund that closed in June 2012.  To provide funding for the…

Versa Closes Dividend Recap of Avenue Stores

Avenue Stores, a portfolio company of Versa Capital Management, has completed a recapitalization that provides capital to fund additional growth and to provide for a payment of a significant dividend to its shareholders.  Following the…

MVC Recruits Fifth Third Mezzanine Team

MVC Capital has added four new debt professionals to its team with the hiring’s of David Williams, Harrison Mullin, David Gardner and Scott Foote. All four were previously employed by Fifth Third Bancorp’s Mezzanine Finance…

Monroe Capital Lends to Healthcare Vertical Again

Monroe Capital was the sole lead arranger and administrative agent on the funding of a $20 million senior credit facility to Cytovance Biologics, a portfolio company of Great Point Partners since March 2011. Cytovance is…

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