September 28, 2018
Year 11 Volume 9 Issue 16      
Today's Letter
Good afternoon all and happy Friday -

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. Sam has worked with private equity firms and hedge funds in past transportation investments including Horizon Lines, one of the nation's largest domestic ocean shipping and inland transportation companies, and Gemini Air Cargo, a major international cargo carrier. Michael Pfeffer and Isaac Chalal led the transaction for New York-based Post.

Heard on the grapevine... Twin Brook Capital Partners was the administrative agent on a financing to back a recapitalization of AFC Industries, a portfolio company of Incline Equity since March 2015. AFC is a provider of supply chain management services and vendor managed inventory programs to OEMs with a specialty in fasteners and other assembly components. In addition to its distribution activities, AFC provides value-added services such as kitting, packaging, and assembly.

Yesterday's big read...  Nautic has acquired Mikart, a contract developer and manufacturer of solid dose and non-sterile liquid pharmaceuticals. The company has lots of capabilities and its make products in tablet, capsule, or liquid form and packages them in bottles, blister packs, pouch and foil strip packs, cartons and trays.

John P. McNulty
Publisher
Private Equity Professional

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Questions? Contact me at john@peprofessional.com or at 847-868-8807.
Today's News and Transactions
KLH Adds to Data Display Systems
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
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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Audax Adds to ICP
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
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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Important News You Might Have Missed
Nautic Acquires Mikart
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
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
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
PEP Member Only
Lincoln Adds Automotive Senior Advisor
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
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
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
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
PEP Member Only
New Partner at Guardian Capital
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
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
PEP Member Only
Francisco Partners Exits Crossmatch
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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Insight Adds to VirTex
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
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
PEP Member Only
Tailwind Closes Oversubscribed Fund III
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
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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Pfingsten Builds Crane 1
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
PEP Member Only
Blackford Invests in Hall Research
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
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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Edgewater Acquires Pure Wafer
Edgewater Capital Partners has acquired Wafer Holding Company (dba Pure Wafer). Pure Wafer is the largest US-based provider of silicon wafer reclaim services and supplies virgin silicon wafers, specialty thin film deposition products, and silicon parts services. Customers of the company include most of the world's largest semiconductor suppliers and equipment manufacturers. Pure Wafer, led...Read More
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Wynnchurch Building America II
America II, a distributor of electronic components and a portfolio company of Wynnchurch Capital since October 2017, has acquired Advanced MP Technology. Advanced MP is a global distributor of electronic components and a provider of supply chain services. The company specializes in hard-to-find as well as mature and obsolete electronic components, all of which...Read More
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Hidden Harbor Closes on Fourth Platform
Hidden Harbor Capital Partners has acquired sister companies Anchor Danly and AWC Manufacturing. Anchor Danly is an international manufacturer and distributor of die sets, components, steel plates, and metal fabrications that are used in the production of tools, dies, and molds for metalworking and plastics injection molding, machine bases, mining and construction equipment...Read More
PEP Member Only
Center Rock Buys LINC, Closes Add-on
Center Rock Capital Partners has acquired LINC Systems, a distributor of fastener, packaging and MRO tools and supplies. Center Rock invested in LINC out of its inaugural fund, Center Rock Capital Partners Fund I LP, which closed earlier this month at an oversubscribed $580 million of limited partner capital commitments. The firm began fundraising in...Read More
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