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| February 6, 2019 |
Year 12 Volume 2 Issue 4
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Good afternoon all -
Comvest has added
B-Air to
Lasko, a maker/distributor of portable fans and dehumidifiers it acquired in November 2016 with
Jerry Levin, the former chairman and CEO of Wilton Brands. Earlier in Jerry's career, he was the chairman and CEO at Sunbeam, Revlon and The Coleman Company. B-Air's fans, blowers and dehumidifiers are used widely in commercial and industrial applications but are most recognized through their use in water and fire damage restoration, mold remediation, and janitorial and sanitation situations. B-Air is based near Los Angeles in Azusa, CA.
Yesterday's big read...
Hidden Harbor, which was founded in May 2016 by
John Caple (ex-Comvest),
David Block (ex-H.I.G.) and
Christopher Paldino (also ex-H.I.G.) has closed its debut fund with an above-target $265 million of capital. The Boca Raton-based firm invests in North American-based companies with revenues between $50 million and $500 million and EBITDA up to $25 million, and will also consider investing in unprofitable businesses. Sectors of interest include manufacturing, distribution and business services. Check out yesterday's article for some detail on Hidden Harbor's four closed deals since August 2017.
Have a great day everyone.
Publisher
Private Equity Professional
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Today's News and Transactions
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Z Capital Begins Tooling Consolidation
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Z Capital Partners has acquired Techniks Tool Group, a provider of tool holding and workholding products used in CNC machine applications for industrial end markets. Techniks Tool Group (TTG) was formed in April 2017 when Indianapolis, IN-based Techniks Industries acquired the tooling division of Fairport, NY-based Parlec. Today, TTG has... Read More
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Comvest Adds B-Air to Lasko
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Lasko, a portfolio company of Comvest Partners, has acquired Intertex (DBA B-Air). B-Air is a developer and supplier of air movers, dehumidifiers, air scrubbers, inflatable blowers, pet dryers and fans that are used in the commercial, industrial and retail sectors including for water and fire damage restoration, mold remediation, and janitorial and... Read More
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Big PE Merges Auto Repair Companies
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Caliber Collision Centers and Abra Auto Body Repair of America have completed their merger which was announced in December 2018. With the transaction now closed, Hellman & Friedman - Abra's majority shareholder since 2014 - is now the majority shareholder of the combined company. Caliber's two largest shareholders, OMERS - which invested in Caliber... Read More
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Important News You Might Have Missed
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Hidden Harbor Closes Debut Fund
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Hidden Harbor Capital Partners has closed its debut fund, Hidden Harbor Capital Partners I LP, at an above-target $265 million. Boca Raton-based Hidden Harbor was formed in May 2016 by John Caple, a former partner of Comvest Partners; David Block, the former CEO of Swiss Watch International, an... Read More
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Boss Industries Switches Sponsors
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Wynnchurch Capital has acquired Boss Industries, a maker of compressed air power systems, from Strait Lane Capital Partners which acquired the company in July 2014. Boss Industries is a manufacturer of power take-off (PTO) rotary screw air compressor systems that are used to power tools that need constant air pressure (jackhammers) and... Read More
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Benford Adds to Saco Foods
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Saco Foods, a portfolio company of Benford Capital since December 2016, has acquired California Sun Dry Foods from Gary DeAtley and Bill Riley. California Sun Dry is a supplier of jarred and bagged shelf-stable sun-dried tomato products which are sold through supermarkets, mass retailers and club stores in the US and Canada. According to the company... Read More
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New Head of Tech at Advent
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Advent International has hired Bryan Taylor as a managing partner to lead Advent's technology investment team. He will be based in the firm's new office in the San Francisco Bay Area which will be opened later this year. Most recently, Mr. Taylor was a partner and co-head of TPG Capital's technology group, where... Read More
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Pritzker Adds Bun Maker to Food Platform
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C.H. Guenther & Son, a portfolio company of Pritzker Private Capital, has acquired Wback GmbH. Wback is a supplier of hamburger and hotdog buns to quick-service restaurants and food retailers throughout Germany and surrounding countries across Europe. The company, led by Managing Director Matthias Geißler, has two facilities in Germany and is headquartered in Bönen... Read More
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Stellex Closes Buy of Paragon Metals
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Stellex Capital Management has acquired Paragon Metals, a maker of machined components used in the automotive, heavy truck and general industrial markets. Paragon Metals is a manufacturer of iron, aluminum, steel, and other light metal machined components and assemblies. The company's products are used in transmissions, drivelines, engines, chassis and other industrial applications... Read More
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AEI Continues Belcan Build
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Belcan, a portfolio company of AE Industrial Partners since June 2015, has acquired Sitec Design and Sitec Recruitment (together "Sitec"). Sitec is a provider of engineering services and technical recruitment services to aerospace, defense, nuclear, and industrial customers in the UK and Europe. Customers of the company include Airbus, BAE, Leonardo... Read More
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TSG Consumer Closes Eighth Fund
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TSG Consumer Partners has closed its eighth fund, TSG8 LP and TSG8 Parallel LP (the "Fund"), with an oversubscribed $4 billion of limited partner capital commitments. The new fund will continue the firm's investment strategy of building value by growing both well-established and earlier-stage businesses and... Read More
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Vance Street Buys Applied Plastics
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Vance Street Capital has acquired Applied Plastics, a provider of specialty coatings used in the medical device industry. Applied Plastics specializes in the application of polytetrafluoroethylene (PTFE) on wires and other metal-based components that are used in the medical device industry with a primary emphasis on the catheter market. The company applies its specialty coatings... Read More
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Tender Corporation Switches Sponsors
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Victor Capital Partners has acquired Tender Corporation, a maker of insect repellents, bite treatments, first aid kits and burn treatment products, from Prospect Partners which acquired the company in September 2008. Tender's recreational outdoor products include personal care, survival, and first aid products such as insect bite treatment After Bite... Read More
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Periscope Invests in Power Digital
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Periscope Equity has invested in Power Digital Marketing, a technology-enabled digital marketing agency. Power Digital's services are used by local, regional and national brands to develop and execute cross-channel digital marketing campaigns that drive measurable customer acquisition and retention programs. The company's services include... Read More
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Graham Adds Cryogenic Experts to Acme
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Acme Cryogenics, a portfolio company of Graham Partners, has acquired Cryogenic Experts. Graham Partners acquired Acme Cryogenics in April 2016 from Gladstone Investment Corporation. Acme Cryogenics is a manufacturer of products and a provider of field services used in the production, distribution, and storage of cryogenic liquids and industrial gases. Acme's customers operate in the...Read More
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BV Acquires Nonprofit Fundraiser
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BV Investment Partners has acquired a majority interest in RKD Group, a provider of fundraising and marketing services to the nonprofit sector. RKD Group services more than 260 nonprofit organizations, including hospitals, social service, health, disease research, animal welfare, and faith-based charities. The company utilizes a multichannel approach that leverages technology and data science to... Read More
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Silver Oak Invests in Keystone Partners
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Silver Oak Services Partners has acquired Keystone Partners, a provider of outplacement, career management, executive coaching, and leadership development services. Keystone's services are provided to a range of employees from entry-level to senior executives. The company operates through three divisions: Keystone Associates, a provider... Read More
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Huron's Pueblo Closes Two Add-Ons
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Huron Capital has added two new companies to its HVAC services platform, Pueblo Mechanical & Controls, with the buys of Newgaard Mechanical and CFM Mechanical. Huron launched Pueblo Mechanical in December 2017 in partnership with industry veteran Dan Bueschel. The company provides a full spectrum of HVAC replacement, retrofit and repair services primarily... Read More
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Clearview Merges Vineyard Companies
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Wilson Orchard & Vineyard Supply (Wilson), a portfolio company of Clearview Capital, has merged with Oregon Vineyard Supply (OVS). Clearview Capital acquired Wilson in December 2016 through its third fund. The management teams of both Wilson and OVS remain as equity owners in the combined company alongside Clearview... Read More
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Renovo Hits Hard-Cap for Fund III
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Renovo Capital has closed its third fund, Renovo Capital Fund III LP, at the hard-cap of $225 million. The firm's earlier fund closed in September 2014 with $132 million of capital commitments. Fundraising for Fund III began in September 2018 and it received support from both existing and new investors... Read More
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Aterian Adds to Vander-Bend
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Vander-Bend Manufacturing, a portfolio company of Aterian Investment Partners since May 2018, has acquired J.L. Haley Enterprises. J.L. Haley is a metal fabrication manufacturer that specializes in parts used primarily in medical device applications. The company's core capabilities include development, engineering, CNC machining, sheet metal fabrication... Read More
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Brown Brothers Harriman Sells KabaFusion
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BBH Capital Partners (BBHCP) has sold its ownership interest in KabaFusion, a provider of acute and specialty home infusion services, to Pritzker Private Capital. BBHCP is a private equity fund sponsored by Brown Brothers Harriman & Co. KabaFusion operates seven fully accredited specialty pharmacies located in California, Florida, Illinois, Massachusetts, New Jersey, Pennsylvania and Texas... Read More
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Arlington Buys Triumph's Fab Business
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Arlington Capital Partners has agreed to acquire the fabrications business of publicly-traded Triumph Group. Triumph Fabrications consists of four companies that manufacture, coat, and assemble complex sheet metal components for fixed wing and rotorcraft platforms. In total, the four businesses generated revenues of approximately $150 million during... Read More
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Bertram Buys Flow Control from AEA
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Bertram Capital has acquired Flow Control Group, a distributor of process control and fluid handling products, from AEA investors. Flow Control Group (FCG) has more than 10,000 customers and 47 regional distribution and service centers located throughout the United States and Canada. The company was founded in 2014 and has completed... Read More
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Lincoln Hires New TMT Pro
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Lincoln International has hired Bob Lockwood to lead the firm's coverage of the internet and digital media sector. Mr. Lockwood will be based in Lincoln's New York office and will be part of its technology, media and telecom (TMT) group. Mr. Lockwood has 25 years of investment banking experience and has advised... Read More
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Thoma Bravo Closes Fund XIII
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Thoma Bravo has completed fundraising for Thoma Bravo Fund XIII LP with a hard-cap and oversubscribed close at $12.6 billion. Fund XIII received support from Thoma Bravo's network of limited partners which include sovereign wealth funds, public pension funds, multinational corporations, insurance companies... Read More
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Advent International has made a majority investment BioDuro, a life sciences contract research organization (CRO). BioDuro provides its biopharmaceutical clients with integrated drug discovery services which include target identification, investigational new drug (IND) applications with the FDA, and manufacturing of drug substances for clinical trials. The company, led by CEO Cyrus Mirsaidi, has...Read More
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EQT Acquires Osmose from Kohlberg
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Private equity firm EQT has acquired Osmose Utilities Services from Kohlberg & Company which acquired the company in August 2015. Osmose is a provider of inspection, maintenance and restoration services for utility and telecom infrastructure. The company's services include wood pole inspection, treatment and restoration; steel structure inspection and rehabilitation; and structural engineering services...Read More
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This is the eleventh edition of the Carried Interest and Compensation Survey. This year we had 325 funds participate. The survey's compensation data is comprised of salary, bonus and carried interest paid over the prior 12-month period. The survey was conducted from September 3 to September 28, 2018...Read More
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