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| October 2, 2018 |
Year 11 Volume 10 Issue 1
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Good afternoon all -
DFW has sold
Fleetwash, the country's largest provider of mobile power washing services for large and small vehicle fleets (last year the company completed over 8 million truck washes) to
ACON Investments. DFW acquired Fleetwash through its fourth fund in May 2014. This investment was, in fact, the second time around for DFW with the company as the firm held a minority investment (through an earlier fund) from 1999 to 2005. During the current 4-year ownership term Fleetwash grew significantly through the organic expansion of its high margin facility washing services and also through the completion of ten add-on acquisitions. The sale of Fleetwash is the fifth sale or major liquidity event for DFW's 2012 vintage fund,
DFW Capital Partners IV LP. Managing Partner
Keith Pennell led the transaction for with DFW.
We launched our newest newsletter -
The Week in Review - just last Sunday. The newsletter is sent to our readers every Sunday morning at 9AM CST and provides access to our most popular reads of the week in a quick and simple format. It's designed to be a chill and relaxing read of the past week's big news stories. If you missed it check your inbox from Sunday. Comments are always welcome with new products.
Our continued big read...
Post Capital has acquired Sunrise, FL-based
Smith Transportation, a provider of third-party logistics and asset-light transportation services. The management team of Smith participated in the acquisition alongside Post. Also joining the investor group is
Sam Woodward, a Post Executive Partner and transportation industry executive.
Publisher
Private Equity Professional
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Today's News and Transactions
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DFW Sells Fleetwash to ACON
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DFW Capital Partners has sold Fleetwash Holdings to ACON Investments. This transaction is the fifth sale or major liquidity event for DFW's 2012 vintage fund, DFW Capital Partners IV LP. With more than 10,000 customers, Fleetwash is the country's largest provider of mobile power washing services - the company has more than 700 mobile units...Read More
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Varsity Healthcare Invests in Probo Medical
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Varsity Healthcare Partners has made an investment in Probo Medical, a reseller of medical equipment. Varsity partnered on this investment with the shareholders and executive team of the company. Probo Medical provides new, used and refurbished ultrasound systems and ultrasound probes. The company uses its global supply chain to procure used ultrasound equipment from more...Read More
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Kinderhook Builds ACV Enviro
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ACV Enviro, a portfolio company of Kinderhook Industries, has acquired CTR Industries, a provider of hazardous and non-hazardous waste management services throughout the Northeastern United States. CTR Industries (formerly known as Connecticut Tank Removal) specializes in industrial maintenance, emergency response, tank removal, remediation, demolition and transportation and disposal...Read More
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CD&R Closes PowerTeam Buy
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Clayton, Dubilier & Rice (CD&R) has closed its buy of PowerTeam Services, a provider of maintenance and construction services to the utility industries, from Kelso & Company. PowerTeam provides services to maintain, repair, upgrade, and install natural gas and electric distribution and transmission systems. The company's customers include regulated utilities located in the southeastern and...Read More
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Important News You Might Have Missed
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KLH Adds to Data Display Systems
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Data Display Systems, a portfolio company of KLH Capital, has acquired the assets associated with DUCO Technologies point-of-purchase (POP) business. KLH Capital partnered with Equis Capital Partners to acquire Data Display Systems in June 2015. Data Display is a provider of video, audio, lighting and interactive products to the point-of-purchase displays ...Read More
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Post Buys Smith Transportation Services
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Post Capital Partners has acquired Smith Transportation Services in partnership with the company's management team. Smith Transportation is a national full-service third-party logistics and asset-light transportation services provider. The company's services include load-to-ride (LTR), truckload, less-than-truckload (LTL) and rail/intermodal brokerage services. Smith's most prominent service...Read More
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Innovative Chemical Products (ICP Group), a portfolio company of Audax Private Equity, has acquired Signature Sports Flooring, a division of Signature Systems Group. Signature Sports Flooring is a manufacturer, distributor, and installer of synthetic and hardwood sport surfaces for installations such as weight rooms, locker rooms, aerobic rooms, gyms, common areas, and multi-purpose facilities...Read More
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CD&R Adds Boeing Exec to Team
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Ray Conner, the former Vice Chairman of The Boeing Company and President and Chief Executive Officer of Boeing Commercial Airplanes, has been hired by Clayton, Dubilier & Rice (CD&R) as an Operating Advisor. Mr. Conner joins CD&R after a 40-year career at Boeing, where he started as a...Read More
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Nautic Partners has acquired Mikart, a contract developer and manufacturer of solid dose and non-sterile liquid pharmaceuticals. Mikart's services include formulation development, clinical trial supplies, regulatory filing support, analytical services, clinical manufacturing, commercial manufacturing, and packaging. The company can manufacture products in tablet, capsule, or liquid form and its packaging capabilities...Read More
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J.W. Childs Acquires Walker Edison
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J.W. Childs has acquired Walker Edison, a supplier of ready-to-assemble furniture to global e-commerce platforms, from co-founders Brad Bonham and Matt Davis, and Caltius Structured Capital. Mr. Bonham and Mr. Davis are retaining a significant equity ownership interest in partnership with J.W. Childs. Walker Edison's products are available in a range of...Read More
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Argosy Acquires ECS Environmental
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Argosy Private Equity has acquired a majority interest in ECS Environmental Solutions, a designer and manufacturer of systems that are used for odor control in the municipal wastewater market. ECS' odor control and air pollution solutions include activated carbon, biological, and chemical elements and are custom tailored for specific odor control criteria and customer need...Read More
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Lincoln Adds Automotive Senior Advisor
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Global mid-market investment bank Lincoln International has added Sanjeev Varma to its team as a senior advisor. Mr. Varma's will support the efforts of Lincoln's Automotive and Truck Group and Special Situations Group.
"We are excited to add Sanjeev's credentials to our advisory service capabilities," said Robert Satow, a Lincoln Managing Director...Read More
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Arsenal Building Adhesives Giant
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Meridian Adhesives Group, a portfolio company of Arsenal Capital Partners, has acquired W.F. Taylor, LLC, from Dominus Capital. W.F. Taylor, acquired by Dominus from Grace Matthews in April 2015, is a manufacturer and marketer of flooring adhesives for use with carpet - including carpet tile and broadloom; hard surfaces - including luxury vinyl tile and...Read More
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AUA Adds Desi to Raymundos Food Group
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Raymundos Food Group, a portfolio company of AUA Private Equity Partners, has acquired the assets of Desi Natural Dahi from Derle Farms, Inc., a family-owned milk and yogurt distributor. Desi Natural is a developer and marketer of branded Indian yogurts (dahi) and cheese (paneer) which is predominantly sold through ethnic food retailers...Read More
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Tecum Acquires Tidewater Equipment
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Tecum Equity Partners has acquired Tidewater Equipment Company, a distributor of forestry and related equipment. Tidewater's equipment includes Tigercat brand feller bunchers, skidders, and loaders; and Morbark brand chippers, grinders, and shredders. In addition to selling new and used equipment, Tidewater also provides parts and service to its base of...Read More
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New Partner at Guardian Capital
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Guardian Capital Partners has added Ryan Northington to the firm as a partner. Mr. Northington has 13 years of private equity buyout and growth investment experience in value-added distribution and manufacturing, retail and consumer, healthcare, aviation services, software, product marketing, and...Read More
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Dominus Adds to Masterbuilt
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| Masterbuilt Manufacturing, a portfolio company of Dominus Capital, has acquired Premier Specialty Brands (DBA Kamado Joe). Kamado Joe is a designer, marketer and distributor of kamado style ceramic grills, charcoal and accessories. The company is headquartered near Atlanta in Duluth, GA. Kamado Joe's founders, Bobby Brennan and Kerry Coker, reinvested alongside Dominus...Read More |
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Francisco Partners Exits Crossmatch
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| Francisco Partners has sold its portfolio company Crossmatch to HID Global. Francisco Partners first invested in Crossmatch in July 2012. Crossmatch is a provider of biometric identity management and secure authentication services. The company has more than 5,000 customers worldwide and more than 250,000 products deployed in over 80 countries. Cross Match's customers include the...Read More |
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| VirTex Enterprises, a portfolio company of Insight Equity, has acquired PPI-Time Zero from Guardian Capital Partners. PPI-Time Zero was purchased by Guardian Capital from Saugatuck Capital in January 2011. Insight Equity acquired VirTex in October 2017. PPI-Time Zero (PPI) is a low-to-medium volume contract manufacturer of electronics components used in the aerospace and defense, medical...Read More |
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Apax Buys Authority Brands
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| Apax Partners has acquired Authority Brands, a North American franchisor of two home services brands, from Pittsburgh-based PNC Riverarch Capital. Authority Brands is the parent company of two home services franchisors: The Cleaning Authority, which provides residential cleaning services to over 100,000 customers across the US; and Homewatch CareGivers...Read More |
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Tailwind Closes Oversubscribed Fund III
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Tailwind Capital has held a final closing of Tailwind Capital Partners III LP with $1.8 billion of commitments. The new fund exceeded its initial target and was oversubscribed. Fund III received commitments from existing and new investors, including pension funds, insurance companies, endowments and foundations..Read More
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Flexpoint Ford Invests in MobilityWorks
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Flexpoint Ford has acquired MobilityWorks, one of the nation's leading providers of wheelchair accessible vehicles, in partnership with the company's senior management team who will retain a significant ownership stake and continue to lead the company. MobilityWorks markets and manufactures adaptive vehicles and accessibility products including wheelchair...Read More
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Crane 1 Services, a portfolio company of Pfingsten Partners, has acquired Mt. Clemens Crane & Service, a provider of overhead crane services and equipment. Mt. Clemens Crane manufactures a wide range of cranes including overhead bridge cranes, fabricated girders, runways, jib cranes and gantry cranes. The company's services include...Read More
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Blackford Invests in Hall Research
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Blackford Capital has made an investment in Hall Research, a designer and manufacturer of A/V hardware and software. Hall Research's products facilitate the communication between A/V sources and A/V displays. The company's 22 different product lines and over 500 SKUs include video over CATx cabling, matrix switchers, scaling products, and automation products. Hall's products are...Read More
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Rothschild Closes New US Mid-Market Fund
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Rothschild Merchant Banking, the investment arm of Rothschild & Co, has held a final closing of Five Arrows Capital Partners (FACP or the Fund), its first corporate private equity vehicle in the United States. The new fund closed above target with total capital commitments in excess of $655 million...Read More
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