TVV acquires Design Molded Plastics

TVV Capital said Tuesday that it has bought Design Molded Plastics. No financial terms were disclosed. Based in Ohio, DMP is a provider of custom full-service injection molding. PRESS RELEASE NASHVILLE, TN–(Marketwired – Aug 19, 2014) – TVV Capital, an operationally focused private equity firm, announced today that it has acquired Ohio-based Design Molded Plastics (DMP). Terms of the transaction were not disclosed. The acquisition of DMP is the fifth investment from TVV Capital’s latest fund, TVV III, which closed in December 2013. A certified supplier of custom injection molded products and value-added manufacturing solutions, DMP has a broad customer base serving the home appliances, sporting goods, automotive and consumer goods industries, among several others. “DMP’s highly diversified customer base, as well as its ability to provide full-service engineering, tooling and manufacturing services translates into a high-growth business with the potential for continued rapid expansion,” said Andrew W. Byrd, President of TVV Capital. “Given TVV’s investment focus, the intrinsic value of DMP, and the U.S. plastic part production market’s current and projected growth, this investment is consistent with our strategy of delivering significant value to our investors.” Advisors
Legal advisors for TVV Capital were Bass, Berry & Sims PLC of Nashville, TN. Accounting services were provided by DGLF CPAs and Business Advisors of Nashville, TN. About Design Molded Plastics
Founded in 1985, Design Molded Plastics (DMP) is a leading provider of custom full-service injection molding. DMP is known for providing outstanding technical capabilities and finely tuned manufactured products through the use of automated injection molding equipment. The company is considered an expert manufacturer of components for medical, automotive, protective equipment, home appliance and electronic products. More information about Design Molded Plastics is available at www.designmolded.com. About TVV Capital
TVV Capital (Nashville, TN) is an operationally-focused private equity investment firm that targets high performing niche manufacturing companies in the lower middle-market. The firm seeks to accelerate portfolio growth and expansion through an operational value-added approach, utilizing senior manufacturing executives to forge close working partnerships with portfolio company leadership. TVV employs a direct-to-owner acquisition sourcing model that targets companies with enterprise values from $10 to $100 million, EBITDA margins of 10 to 25 percent and which are characterized by consistent profitability, strong management, and identifiable growth prospects. The firm is managed by an experienced team that has established a 17+ year track record of delivering best-in-class investment returns. For further information, please visit www.tvvcapital.com. #TVVCapital

Ad tech firm AppNexus snags $60 mln

New York City-based ad tech firm AppNexus has received $60 million in funding from an unnamed private equity firm. According to the company, the investment puts AppNexus at a valuation of $1.2 billion. JPMorgan was the financial advisor to AppNexus on the transaction. PRESS RELEASE New York – AppNexus, the world’s largest independent advertising technology company, today announced that a large, Boston-based public equity and asset management firm has invested $60 million in the company, valuing it at $1.2 billion. With interest from other parties to invest up to an additional $40 million, the total potential investment is $100 million. “When we founded AppNexus, our aspiration wasn’t just to build the world’s best ad tech company – we wanted to prove that you can build a seminal, global technology company right here in New York,” said Brian O’Kelley, CEO and co-founder, AppNexus. “As a company purely focused on creating great tech, our aim is to continue to revolutionize the advertising industry, and we’re just getting started.” Since it was founded in 2007, AppNexus has seen dramatic increases in revenue each year as one of New York’s most successful and highly valued technology companies. Notably, the company: Transacted more than $500 million in total ad spend across its platform in 2012, eclipsed $1 billion in 2013, and expects that figure to more than double in 2014, exceeding $2 billion; Currently transacts more than 30 billion ad impressions per day; Is now the world’s leading independent source for buying mobile ads programmatically with more than 500 percent growth in the last year based on ad spend; and Has increased its headcount 43 percent since January 2013 with nearly 600 employees across 10 offices worldwide, including its newest locations in Sydney and Singapore. AppNexus plans to use the investment to continue the rapid expansion of its global team and to invest in creating innovations that will transform digital advertising. AppNexus expects to add hundreds of additional jobs by 2016, both in its New York headquarters and its offices around the world. Additionally, the company, which ACQUIRED viewability technology pioneer Alenty in June, will use the funds to potentially make opportunistic acquisitions and forge partnerships that enhance AppNexus’ product offerings and further its mission to power the advertising that powers the Internet. AppNexus, which has raised more than $200 million to date, also increased its debt facility to $75 million, extendable to $100 million, led and syndicated through Silicon Valley Bank. JPMorgan acted as exclusive financial advisor to AppNexus. ABOUT APPNEXUS
AppNexus is a technology company that provides trading solutions and powers marketplaces for Internet advertising. Its open, unified, and powerful programmatic platform empowers customers to more effectively buy and sell media, allowing them to innovate, differentiate, and transform their businesses. As the world’s largest independent ad tech company, AppNexus is led by the pioneers of the web’s original ad exchanges. Headquartered in New York City with ten global offices, AppNexus employs hundreds of the brightest minds in advertising and technology who believe that advertising powers the Internet. For more information, follow us at @APPNEXUS or visit us at WWW.APPNEXUS.COM.

Canada’s Couche-Tard makes short-list in $16 bln Sinopec unit sale, say sources-Reuters

(Reuters) – Canadian retailer Alimentation Couche-Tard Inc and China’s Tencent Holdings Ltd are among suitors short-listed to buy a $16 billion minority stake in China’s Sinopec Sales, the world’s largest fuel retail network, people familiar with the matter told Reuters. China Life Insurance Co Ltd, the nation’s biggest insurer, Hong Kong-listed ENN Energy Holdings Ltd , privately-owned Fosun Group, Hopu Investment Management and Affinity Equity Partners have also progressed to the next round, said the people who declined to be identified as the sale process is confidential. Formally known as China Petroleum & Chemical Corp , state-run Sinopec plans to sell up to 30 percent of Sinopec Sales by end-2014 as Beijing restructures government-owned assets. Sinopec Sales booked a net profit of 25.1 billion yuan ($4.1 billion) in 2013 from over 30,000 service stations and more than 23,000 convenience stores. While a deal would give investors little control over the company, a likely exit through an initial public offering planned within three years has attracted a wide range of suitors, the people said. The company also wants to boost non-fuel sales and is seeking investors to get into businesses such as car services, telematics, online-to-offline sales, financial services and advertising, the sources added. Sinopec Sales generated 1.49 trillion yuan in revenue in 2013, but contribution of non-fuel sales was less than 1 percent of the total. In the United States, for example, non-fuel retail sales accounts for about half the profit for gas stations. Sinopec, ENN, Affinity, Tencent, China Life and Fosun all declined to comment about the bidding process. Couche-Tard CFO Raymond Paré also declined to comment and New Hope and did not reply to emails seeking response. Hopu could not be reached for an immediate comment. Final bids are due by end-August, though it was not clear how many shortlisted bidders are likely to make offers. Couche-Tard and ENN are both bidding solo, as is privately owned Chinese investment company New Hope Group, the people said. Local companies, however, are likely to be given priority as per the government policy to share the “dividend” of China’s economic growth, Sinopec chairman Fu Chengyu has said. Financial investors, like Affinity, Hopu and China Life would be interested in Sinopec Sales because of its stable yields, which Barclays estimates between 3-4 percent.
Couche-Tard, which operates more than 6,000 convenience stores throughout North America, also runs about 4,200 stores under the Circle K brand in China, Japan, Mexico, Vietnam and other countries. Tencent Holding is China’s largest listed Internet company and a successful deal will give it access to Sinopec’s fuel payments network. BIG DEAL
The planned divestment comes at a time when Sinopec’s domestic fuel sales growth rate has slowed due to falling demand. Gross margins shrank to 2.3 percent in 2013 from 3.3 percent in 2011 and Barclays said in a report that a $1 fall in fuel margin from the current high level of $15-16 per barrel could lower Sinopec Sales net profit by 16 percent. The sale is expected to generate between $16-20 billion for Sinopec, money which Asia’s biggest refiner may use to pay down some of its debt and to reinforce upstream investments. If successful, the sale would mark Asia’s second-biggest M&A trade this year, after CITIC Pacific’s $36 billion purchase of its parent CITIC Group’s assets. The deal is set to value Sinopec Sales at between $53-66 billion, giving it a price-to-earnings multiple of 13-16.3, according to Reuters calculations. Sinopec unveiled plans in February to restructure the business, which also includes oil-products pipelines and storage facilities across China. Advising Sinopec on the sale are China International Capital Corp, Deutsche Bank, CITIC Securities Ltd and Bank of America.

Warburg, Shanghai Baosteel agree to buy China gas assets for $489 mln-Reuters

(Reuters) – Global private equity firm Warburg Pincus and China’s Shanghai Baosteel Gases Ltd have agreed a deal to buy the industrial gas assets of Henan Jinkai Chemical Investment Holding Group for 3 billion yuan ($489 million), the two partners said on Tuesday. The deal is part of a strategic partnership between Warburg and Baosteel to explore projects in industrial gases, as the Chinese company looks to increase its competitiveness at home and internationally. “Our partnership with Baosteel Gases is of particular significance to both parties, demonstrating the latest progress in our efforts to participate in the ongoing Chinese SOE reforms,” said David Li, managing director of Warburg. Established in 2008, Baosteel Gases is a wholly-owned subsidiary of Baosteel Metal, which has 15 subsidiaries across China in businesses from industrial gases to energy products. Warburg has over $39 billion in assets and has invested more than $4 billion in China since entering the market in 1994.

TA Associates invests in SkinnyPop Popcorn

TA Associates has invested in SkinnyPop Popcorn. Details of the deal were not disclosed. As part of the transaction, Tom Ennis, former chief executive officer of Oberto Brands, will join SkinnyPop’s executive team. Press Release TA Associates, a leading global growth private equity firm, today announced a partnership with SkinnyPop Popcorn LLC founders Pam Netzky and Andy Friedman and food entrepreneur Jason Cohen to further build the brand and support continued innovation. As part of that effort, SkinnyPop announced the addition of Tom Ennis, the former CEO of Oberto Brands, to the SkinnyPop executive team. Financial terms of TA’s investment in SkinnyPop were not disclosed. Founded in 2010, SkinnyPop is a leading, innovation-focused marketer of ready-to-eat popcorn products. The brand was built with the goal of providing customers with a tastier and better-for-you alternative to traditional movie theater-style microwave and bagged popcorn products. The founders focused on creating a great tasting and simple product, including limiting ingredients while mandating that their core offerings be non-GMO, peanut free, tree nut free, dairy free and gluten free. The company’s products are distributed through club, grocery, drug, mass and convenience store channels and also are available in several international markets. SkinnyPop is headquartered in Skokie, Illinois. “I am excited to partner with Pam and Andy to continue building the SkinnyPop brand,” said Tom Ennis, who recently joined SkinnyPop as Chief Executive Officer. “My primary goal is to adhere to the standards of excellence they have established. SkinnyPop has built something very unique by creating outstanding products and by building supportive partnerships.” “Pam and Andy committed to a set of brand and company values that very much align with how we do business at TA Associates,” said William D. Christ, a Principal at TA Associates who will join the SkinnyPop Board of Directors. “Tom has a long history of preserving culture while also building outstanding brands. We all agree he is a great fit for SkinnyPop.” “We are confident that we have found the right partner in TA Associates,” said Andy Friedman, Co-Founder of SkinnyPop. “TA understands growth company investing and we believe they can add significant value and resources to our business. TA will help us further solidify and build on our strong foundation.” Pam Netzky, Co-Founder of SkinnyPop, added, “We also are excited to have Tom on board. He is a seasoned and well-respected executive in the snacking industry. Tom’s experience will augment our historical efforts and we look forward to actively working with him and TA.” Goodwin Procter LLP provided legal counsel to TA Associates. Much Shelist, P.C. served as legal counsel and Houlihan Lokey served as financial adviser to SkinnyPop. About SkinnyPop Popcorn LLC Founded in 2010, SkinnyPop Popcorn LLC is a Skokie, Illinois-based marketer of packaged popcorn products. Available in multiple flavors, SkinnyPop tries to make products that are “skinny on ingredients” while also only using non-GMO and major allergen-free ingredients. In early 2013, SkinnyPop partnered with food entrepreneur Jason Cohen to augment its sales capabilities and expand distribution. The products are sold largely through the club, grocery and drug channels and are available at more than 25,000 retail locations nationwide as well as in several international markets. Visit SkinnyPop on the web at www.skinnypop.com, or on Facebook, Twitter, LinkedIn and Google+. About TA Associates TA Associates is one of the largest and most experienced global growth private equity firms. The firm has invested in more than 440 companies around the world and has raised $18 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. More information about TA Associates can be found at www.ta.com.

Partners Group agrees to $450 mln elevator parts deal

Partners Group has agreed to buy a controlling stake in Suzhou Savera Shangwu Elevator Riding System Co., which makes elevator components for an overall enterprise value of $450 million. The deal is expected to close by year end and is subject to closing conditions and regulatory approval. Press Release Partners Group, the global private markets investment manager, has signed an agreement to acquire a controlling stake in Suzhou Savera Shangwu Elevator Riding System Co., Ltd. (Savera), one of the world’s largest manufacturers of elevator components, on behalf of its clients. The transaction is expected to close by the end of 2014, subject to fulfillment of certain closing conditions and approval from the respective government authorities. With an overall enterprise value of over USD 450 million, the transaction is one of the largest buyout investments agreed by a financial sponsor in China in 2014 to-date. Founded in Spain in 1967, Savera is a leading family-owned, global manufacturer of safety-critical elevator components including elevator guide rails, T-profiles and mechanical components. Since establishing its first China factory in Beijing in 1999, Savera has continuously developed its China business through acquisitions and the establishment of local joint-ventures in Suzhou, Tianjin, Guangzhou and Jiashan, with additional sites in Chongqing and Chengdu. Today, the Company is headquartered in Shanghai and derives approximately 85% of its revenues from China, while also serving other markets such as Europe and India. Partners Group is acquiring the stake in the company mainly from Savera’s founding family, who, together with their long-term Chinese business partner and Vice Chairman, Cai Liansheng, will retain a minority stake in the business. Existing shareholders and key senior management will also remain with the business. Business Development Asia LLC (BDA) acts as the exclusive financial advisor to Savera in this transaction. Christoph Rubeli, Co-CEO and Head of Private Equity Directs at Partners Group, comments: “We are excited as a firm to announce this transaction in China, a market we believe continues to offer attractive opportunities for investment. The Savera acquisition is a perfect fit with our relative value investment strategy of seeking out mid-market leaders and working with them to expand their business further. Savera is ideally positioned to benefit from the continued trend of urbanization in China and other developing countries, which provide robust support to the overall real estate construction sector.” Diego Labarquilla, Chairman of Savera Group comments: “Partners Group and Savera both believe in the value of long-term vision and commitment to excellence. I am excited to work together with Partners Group to continue Savera’s growth and to develop it into the world’s leading elevator component company.” Kelvin Yu, Managing Director and Head of China at Partners Group, adds: “We are looking forward to working with Diego Labarquilla, Cai Liansheng and Savera’s management team to bring the company into its next phase of growth. Our value creation plan will involve expanding the company’s geographical coverage, identifying suitable acquisition targets and operating partners, increasing R&D activity in China and optimizing the company’s organizational structure, corporate governance and business operations. Partners Group also looks forward to introducing the company to its global network of industry advisors and private equity investment partners.” About Partners Group
Partners Group is a global private markets investment management firm with over EUR 30 billion in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, Houston, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Milan, Munich, Dubai, Mumbai, Singapore, Shanghai, Seoul, Tokyo and Sydney. The firm employs over 700 people, is listed on the SIX Swiss Exchange (symbol: PGHN) with a market capitalization of over CHF 6 billion and a major ownership by its partners and employees.
www.partnersgroup.com About Savera
Savera is the world’s leading global manufacturer of elevator riding path solutions, notably elevator guide rails and accessories, and other elevator mechanical components. It was founded in 1967 in Spain and in 2012 moved its corporate headquarters to China, which is currently the world’s largest elevator market. Savera is a key supplier to all eight of the global elevator OEMs, namely Hitachi, KONE, Schindler, Mitsubishi, Otis, ThyssenKrupp, Fujitec and Toshiba. Savera currently has eleven facilities across China, Germany, India and Spain.
www.saveragroup.com

Riverlake Partners invests in Guerdon Enterprises

Riverlake Partners has invested in Boise, Idaho-based Guerdon Enterprises, which produces multi-unit modular buildings. Riverlake was joined in its investment by Main Street Capital Corporation, and professionals from both Riverlake and Main Street Capital will join Guerdon’s board. Press Release Riverlake Partners, LLC (www.riverlakepartners.com), a Portland-based private equity firm focused on the lower middle market, has made a majority equity investment in Guerdon Enterprises, LLC (www.guerdon.com). Headquartered in Boise, Idaho, Guerdon is a leading producer of large multi-unit modular buildings. As speed, quality and control increasingly become critical decision making factors for the construction industry, the modular construction segment is projected to increase during the next few years and continue gaining acceptance in an estimated $3 billion addressable market. With more than 300 employees and annual revenues over $80 million, Guerdon is unique in its ability to support all facets of modular construction throughout the Western U.S. and Canada markets. Guerdon’s portfolio of successfully completed large apartment, condominium, hotel, office and workforce housing buildings in varying geographies, climates and working conditions provides a solid foundation to grow its repeat and new customer base. Investment for future growth “We’ve enjoyed strong growth during the past several years and we look forward to working with a new equity partner offering expanded opportunities to support our future growth plans and strategies,” said Laurence “Lad” Dawson, managing member, founder and CEO of Guerdon. “Our customers can expect to receive the same level of commitment to unparalleled quality, on-time delivery and superior technical performance as they always have.” Riverlake was joined in its investment by Main Street Capital Corporation of Houston and Guerdon was advised in the transaction by Chicago-based investment bank Building Industry Advisors, LLC. Dawson will continue as CEO and remain a substantial shareholder as he and other key managers continue to lead the company through its next phase of growth and development. Leaders from both Riverlake and Main Street Capital will also hold seats on the company’s board of directors. Since its inception in 2001, Guerdon’s commitment to improve the use of systems-built technology in multi-unit commercial and residential buildings has elevated the brand to a leader in the industry. As the preferred modular supplier among developers, general contractors, architects and builders in its geographic market, Guerdon buildings have set the standard for modular construction for apartments, hotels, student housing, senior housing and workforce housing complexes. “From the beginning, we were impressed with Mr. Dawson, his management team and the company as a whole,” said Erik Krieger, partner at Riverlake Partners. “Guerdon is the type of high quality organization we strive to partner with and we’re looking forward to helping achieve the company’s future objectives.” About Guerdon Enterprises, LLC
Guerdon Enterprises, LLC (www.guerdon.com), is the leading systems-built, off site producer of large modular commercial and multi-family construction projects in the Western United States and Canada. Guerdon’s unmatched portfolio consists of large apartment, condominium, hotel, office, and workforce housing buildings. Operating one of the highest volume manufacturing facilities in the industry, Guerdon offers a fully integrated approach, providing a comprehensive range of services including design, engineering, manufacturing, transportation and on-site installation. For more information, call 208-345-5100. About Riverlake Partners, LLC
Riverlake Partners, LLC (www.riverlakepartners.com), is a private equity firm focused on growth investments in profitable U.S. and Canadian Pacific Northwest-based companies within the consumer and industrial products manufacturing and business service industries. Founded in 2003, it has two funds and typically targets companies with enterprise values of $20 to $75 million, and partners with existing management teams to develop and execute on long-term growth strategies. For more information, call 503-228-7100. About Main Street Capital Corporation
Main Street Capital Corporation (www.mainstcapital.com), headquartered in Houston, is a principal investment firm providing long-term debt and equity capital to lower middle market companies and debt capital to middle market companies. For more information, call 713-350-6000. About Building Industry Advisors, LLC
Building Industry Advisors, LLC (www.buildingia.com), is a premier middle-market investment banking group providing merger and acquisition, capital raising and strategic advisory services headquartered in Chicago. For more information, call 312-854-8036.

KPS Capital agrees to sell Waupaca Foundry for $1.3 bln

KPS Capital Partners has agreed to sell iron foundry Waupaca Foundry, Inc. to Hitachi Metals for $1.3 billion in cash. The deal is expected to close in the fourth quarter and is subject to regulatory approvals. Press Release KPS Capital Partners, LP (“KPS”) announced today that it signed a definitive agreement, through an affiliate, to sell its portfolio company Waupaca Foundry, Inc. (“Waupaca” or the “Company”) to Hitachi Metals, Ltd. (“Hitachi Metals”, TSE: 5486) for $1.3 billion in cash. Waupaca is the largest iron foundry company in the world, producing gray and ductile iron castings using state-of-the-art technology. The Company is North America’s leading supplier of iron castings to the automotive, commercial vehicle, agriculture, construction and industrial markets. David Shapiro, a Managing Partner of KPS, stated, “The success of our investment in Waupaca demonstrates KPS’ ability to see value where others do not, to buy right and to make businesses better. In 2012, we recognized the transformation of the North American iron foundry market and the unrivaled importance of Waupaca to its customers and the end markets that it serves. The sale of Waupaca to Hitachi Metals, a leading multinational corporation, is a great outcome for our investors, Waupaca, its management, employees and customers. “KPS worked with management to improve every aspect of Waupaca’s business, resulting in profitability increasing by more than 40% in just over two years. The investment return generated for our investors in the Waupaca transaction is further validation of the KPS investment strategy, which we have successfully executed over many years and across numerous economic cycles. We are very proud to have had the opportunity to partner with Gary Gigante, his management team and all the dedicated employees of Waupaca. The material value created for our investors since 2012 is the result of their collective effort, for which we are very grateful. We are confident that Waupaca will continue to grow and prosper in the future as part of Hitachi Metals,” Mr. Shapiro concluded. Gary Gigante, Chief Executive Officer of Waupaca, added, “KPS recognized the potential of our business two years ago. Working in partnership with KPS, we invested significantly in our operations and people, which included an expansion of our production capacity and launching numerous continuous improvement initiatives across all six of our foundries. We are very grateful to KPS for its leadership and its commitment to improving and growing our business. We are thrilled to join Hitachi Metals, which has the resources, foundry experience, access to capital and global reach that will enable Waupaca to achieve an even higher level of success.” Completion of the transaction, which is expected during the fourth quarter, is subject to customary closing conditions. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Morgan Stanley & Co. LLC served as legal counsel and financial advisor, respectively, to KPS and Waupaca with respect to the transaction. About Waupaca Foundry, Inc.
Waupaca Foundry, Inc., the largest iron foundry company in the world, produces ductile iron and gray iron castings using state-of-the-art technology. Waupaca is North America’s leading supplier of iron castings to the automotive, commercial vehicle, agriculture, construction, and industrial markets. Headquartered in Waupaca, Wisconsin, the iron metal caster operates six manufacturing facilities, located in Waupaca, Wisconsin (3 individual sites), Marinette, Wisconsin, Tell City, Indiana, and Etowah, Tennessee. Waupaca employs approximately 3,900 people. For more information, visit www.waupacafoundry.com. About KPS Capital Partners, LP
KPS is the manager of the KPS Special Situations Funds, a family of investment funds with over $6.1 billion of assets under management. KPS seeks to realize significant capital appreciation by making controlling equity investments in companies across a diverse range of manufacturing industries experiencing a period of transition or challenged by the need to effect immediate and significant change. KPS creates value for its investors by seeing value where others do not, buying right and making businesses better. The KPS investment strategy is based primarily upon partnering with world-class management teams to effect material and sustainable improvements in the operations of its businesses. Thereafter, KPS focuses on growing its businesses, both organically and through strategic acquisitions. KPS portfolio companies have aggregate annual revenues of approximately $8.1 billion, operate 109 manufacturing facilities in 26 countries, and employ over 51,000 associates, directly and through joint ventures worldwide. The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.

Graham Partners puts Infiltrator Systems on the block

Graham Partners may exit Infiltrator Systems after a near nine year hold. Old Saybrook, Connecticut-based Infiltrator is up for sale, according to two sources. Investment bank Harris Williams is advising, the people said. Infiltrator makes products, such as septic tanks, for the onsite wastewater industry. The company produces $50 million of EBITDA, the sources said. Graham is seeking bids of more than 8x for Infiltrator, one of the people said. Graham, of Newtown Square, Pennsylvania,  invested in Infiltrator in November 2005 via a $215 million dividend recapitalization. It is unclear how much capital the firm put in. News of the sale comes as Graham is expected to begin fundraising later this year, one placement agent said. The firm’s last buyout pool, Graham Partners III LP, collected $515 million in 2009. The fund is 70 percent invested, the placement source said. Graham, in 2011, also raised a $15 million “Annex Fund” which was designed to support remaining investments of the firm’s first fund, according to data provider Preqin. Graham collected $227 million for its debut fund in 1999, Preqin said. The firm’s second pool closed at $463 million in 2005, Preqin said. A Graham co-investment pool, also from 2005, raised $150 million to invest alongside Fund II, a February 2006 communication from the University of Michigan Regents said. Performance data for the funds was not immediately available. Graham invests in industrial and manufacturing companies based in North America with EBITDA of $5 million to $50 million, the firm’s website said. The investment firm has been very active. In August, Graham completed the combined sale of Strata Products Worldwide and Strata Proximity Systems. Graham also sold Eberle Design, which makes electronic components for traffic control systems, and Mitten, a Canadian maker of vinyl sliding and accessories, in separate transactions last year. Graham, in 2014, invested in HemaSource Holdings and Precision Medical. Executives for Graham, Harris Williams and Infiltrator did not respond to requests for comment. Photo of potable water tank courtesy of Infiltrator Systems

The Riverside Company buys The Dwyer Group again

The TZP Group has sold The Dwyer Group back to The Riverside Company. Financial terms weren’t announced. Waco, Texas-based Dwyer is a holding company of seven franchise businesses focused on residential and commercial services. The companies include Aire Serv, Glass Doctor, The Grounds Guys, Mr. Appliance, Mr. Electric, Mr. Rooter (Drain Doctor in the UK and Portugal), and Rainbow International. In December 2010, The Riverside Company announced it was selling The Dwyer Group to TZP in a deal valued at $150 million. PRESS RELEASE New York, NY – August 18, 2014 – TZP Group (TZP) sold The Dwyer Group (Dwyer), a holding company of seven franchise businesses focused on residential and commercial services to The Riverside Company. Based in Waco, Texas, Dwyer provides support and marketing under the following service marks: Aire Serv, Glass Doctor, The Grounds Guys, Mr. Appliance, Mr. Electric, Mr. Rooter (Drain Doctor in the UK and Portugal), and Rainbow International. Dwyer also owns and operates glass shops in New England under the Portland Glass brand name. Since 2010, when TZP bought majority control of Dwyer, the Company’s EBITDA has grown by more than 60%.
“Dwyer’s business successfully evolved during its partnership with TZP and the transaction reflects the very essence of our firm’s strategy of being the Partner of Choice for management teams,” said Sam Katz, Managing Partner for TZP. “We are very proud of our joint achievements in enhancing the franchisee value proposition and initiating exciting online and offline marketing initiatives. We look forward to continuing our relationship with Dina and the Dwyer team and watching them continue to succeed at building this special company.”
Calling TZP a tremendous partner for The Dwyer Group over the past three-and-a-half years, Dina Dwyer-Owens, Executive Chairwoman of The Dwyer Group, said. “We have enjoyed an incredible relationship with TZP that shows in the success of The Dwyer Group, the expansion of our service brands and the strength of our business across the trades.”
Mike Bidwell, CEO and President of The Dwyer Group, added, “TZP has proven to be a trusted and valuable partner. With their support, our management team realized significant improvements in the business in a relatively short period of time. We are very appreciative of their contribution to our business. We even managed to have a little fun along the way.”
TZP used its significant franchise industry experience to work with Dwyer management on numerous initiatives, including creating a Center of Digital Excellence (CODE), improving the vendor network economics for the franchisees, expanding internationally and enhancing the franchise sales process.
Nathan Chandrasekaran and Andrew Hollod worked with Sam Katz on the transaction for TZP.
About TZP Group:
Founded in 2007, TZP Group LLC is a private equity firm focused on control investments in business and consumer services companies with enterprise values generally between $50 million and $250 million. TZP targets companies with solid historical profitability and sustainable value propositions, and seeks to be a “partner of choice” for business owners and management teams. TZP is focused on business and
consumer services verticals where the firm’s investment professionals have significant operating and transaction experience. These include: franchising, outsourced business and IT services, marketing and media services, travel and hospitality services, real estate services and specialty finance. TZP has over $500 million of capital under management and is currently investing out of its second committed fund. For more information, please visit www.tzpgroup.com.
About The Dwyer Group, Inc.®:
The Dwyer Group, Inc., based in Waco, Texas, is a holding company of seven franchise businesses, each selling and supporting a different franchise under the following service marks: Aire Serv®, Glass Doctor®, The Grounds GuysTM, Mr. Appliance®, Mr. Electric®, Mr. Rooter® (Drain Doctor in the UK and Portugal), and Rainbow International®. Collectively, these independent franchise concepts offer customers world- wide a broad base of residential and commercial services. In addition, Dwyer operates glass shops in New England under the Portland Glass brand name. For more information on The Dwyer Group, or its franchise concepts, visit the company’s website at www.dwyergroup.com.

Kohlberg & Company buys The Home Décor Companies

Linsalata Capital Partners said Monday that it sold The Home Décor Companies to Nielsen Bainbridge Group, a portfolio company of Kohlberg & Company. Financial terms weren’t announced. Southaven, Miss.-based Home Décor provides decorative home accessories to retailers throughout North America. PRESS RELEASE Mayfield Heights, Ohio (August 18, 2014) – Linsalata Capital Partners (“LinCap”), a leading middle market private equity firm based in Cleveland, Ohio, announced the sale of The Home Décor Companies (“Home Decor”) to Nielsen Bainbridge Group, a portfolio company of Kohlberg & Company, LLC, on August 15, 2015. Headquartered in Southaven, Mississippi, Home Décor provides a collection of decorative home accessories to leading retailers throughout North America. Product categories include portable lighting, wall décor, accent furniture, throws and pillows. The company has domestic operations in Pennsylvania, Mississippi, California and Arkansas and leverages an extensive global supply chain, including two sourcing offices in China. Through its ownership period LinCap completed three add-on acquisitions and supported operational and process management initiatives to improve the performance and efficiency of the business, ultimately creating a leader in its markets. “Home Décor marks another successful investment for LinCap in the consumer sector. Together with management, we built a great business and we are proud of our partnership with the company and the team. We are confident the business will continue to grow and thrive as they move forward under new ownership,” said Gregg Taber, Managing Director of Linsalata Capital Partners. – more – About Linsalata Capital Partners Linsalata Capital Partners, located in the Cleveland, Ohio suburb of Mayfield Heights, was founded in 1984 and has combined its strong financial capabilities with extensive operational experience to accelerate the growth of middle market companies. In its more than 30 years of investing, the firm has completed more than 100 buyside transactions totaling $3.5 billion. Linsalata Capital Partners is currently investing from Linsalata Capital Partners Fund VI, L.P. with $427 million in committed equity capital. For more information, please visit www.linsalatacapital.com.  

Atlas Capital-led group agrees to buy EVOQ for $354.7 mln

An investor group comprised of Atlas Capital, Square Mile Capital Management and USAA Real Estate Company have agreed to buy EVOQ, one of the largest property owners in downtown Los Angeles, for approximately $354.7 million. EVOQ’s current majority stockholder is MMPI Acquisition, a joint venture formed by Mount Kellet Capital Management and Global Asset Capital. According to terms of the transaction, EVOQ stockholders will receive about $12.96 per share. Commenting on the transaction, EVOQ’s CEO Martin Caverly said in a statement: “The acquiring investors recognized the tremendous value of EVOQ’s portfolio and the opportunity to make a significant investment in downtown Los Angeles. We are confident that the new ownership group will play a positive role in downtown Los Angeles’ continuing renaissance.” Houlihan Lokey and Eastdil Secured advised EVOQ on the transaction while Bill Lenehan acted as special advisor to EVOQ’s board of directors. The deal is expected to close in October 2014. Photo credit courtesy of Shutterstock  

Private equity funds bid for Finnish insulation firm Paroc, say sources-Reuters

(Reuters) – Private equity funds TPG, Nordic Capital, CVC and Cinven are among those to have put in first-round bids for Finnish insulation material maker Paroc, five sources familiar with the matter said on Friday. First-round bids were due last week. One source said the bids from the private equity funds ranged from about 700 million euros ($937 million) to 750 million euros. Reuters reported in February that Lazard was running the sale. Lazard and the private equity firms declined to comment. Paroc was not immediately available to comment. Paroc is owned by a consortium of banks and institutional investors, which is whittling down bidders for a second round. The company is pursuing a growth strategy in Russia, one source said.Paroc was taken over by its lenders from Bahrain-based investment firm Arcapita in 2009. Lazard also advised on the 2006 sale of Paroc to Arcapita and its 2009 debt restructuring, after global construction slumped during the financial crisis and Paroc’s sales dropped by almost 30 percent.

CITIC Capital Partners acquires Chinese mattress maker King Koil

CITIC Capital Partners, the private equity arm of CITIC Capital Holdings Limited, has acquired a controlling stake in King Koil. No financial terms were disclosed. Based in Shanghai, King Koil is a maker and seller of mattresses in China. PRESS RELEASE (Shanghai, 18 August 2014) CITIC Capital Partners, the private equity arm of CITIC Capital Holdings Limited, is pleased to announce its purchase of a controlling stake in King Koil Shanghai Sleep System Co., Ltd (“King Koil” or “the Company”). The investment was made through CITIC Capital China Partners II, L.P., its second China-focused buyout fund. King Koil is a Shanghai-based manufacturer and retailer of premium mattresses in China and the exclusive licensee of several international mattress brands such as “King Koil”, “Aireloom”, and “Life Balance” in China. The Company owns the Chinese trademark for King Koil, a leading US brand founded in 1898. King Koil is one of the best-known premium mattress brands globally and is well-recognized by Chinese professionals. The Company is also the leading player in supplying premium sleep products to luxury hotels in China. Yichen ZHANG, Chairman and CEO of CITIC Capital Holdings Limited, said: “King Koil is a leading player in the premium mattress segment with strong brand recognition and a highly-skilled management team. We look forward to partnering with the management and other shareholders to strengthen the leadership in the hotel contract market and aggressively grow the retail sector in the coming years.” The China retail mattress market is expected to grow at over 15% p.a. in the next five years and at an even higher growth rate for the premium segment. As luxury hotel chains are also projected to pursue aggressive expansion plans in China, King Koil is well-positioned to capture these growth opportunities given its strong presence in the high-end hotel segments and strong brand recognition in China premium mattress market. “We were very impressed by CITIC Capital’s resources and commitment,” said Stephen WANG, Managing Director of King Koil. “The highly-fragmented mattress market in China is currently undergoing rapid consolidation and we look forward to working with our new shareholder to become a major force in the market in future. King Koil is committed to bringing the best quality sleep products to our Chinese customers.” Terms of the transaction were not disclosed. About King Koil Shanghai Sleep System Co., Ltd.
Established in Shanghai in 2000, King Koil Shanghai Sleep System Co., Ltd. is a manufacturer and retailer of premium mattresses in China and is the exclusive licensee of several international mattress brands such as “King Koil”, “Aireloom”, and “Life Balance” in China. It also owns the Chinese trademark for King Koil, a leading US brand founded in 1898. King Koil is one of the best-known premium mattress brands globally and has received many prestigious distinctions, including endorsements from the International Chiropractors Association (ICA) and the Foundation for Chiropractic Education and Research (FCER). For more information, please visit www.kingkoil.com.cn. About CITIC Capital Holdings Limited
Founded in 2002, CITIC Capital Holdings Limited, is an alternative investment management and advisory company. The firm manages over USD4.5 billion of capital from a diverse group of international institutional investors. Core businesses include Private Equity, Real Estate, Structured Investment & Finance, Asset Management and Venture. CITIC Capital currently employs over 200 staff members throughout its offices in Hong Kong, Shanghai, Beijing, Tokyo and New York. It is owned by China Investment Corporation, China’s sovereign wealth fund, and CITIC Group, the largest Chinese conglomerate through its CITIC International Financial Holdings Limited, CITIC Pacific Limited subsidiaries, and Qatar Holding LLC. For more information, please visit www.citiccapital.com. About CITIC Capital Partners
CITIC Capital Partners, the private equity arm of CITIC Capital Holdings Limited, operates in China, the United States and Japan, and currently manages USD2.6 billion of committed capital on behalf of over 50 international investors. CITIC Capital Partners’ funds invest globally and work with management teams to help companies realize their full potential.  

Switzerland’s Partners Group to buy majority of Spain’s Savera for $325 mln, say sources-Reuters

(Reuters) – Swiss investment manager Partners Group Holding AG has agreed to buy the majority of China-focused elevator guide rail maker Savera Group for around 2 billion yuan ($325 million), people with knowledge of the matter told Reuters. The buyout would be the asset manager’s first in China and would give it control of Spain-based Savera which began life focused on Europe but which now generates 80 percent of revenue in China, the world’s most populous country. Savera, founded in 1967, hired financial adviser Business Development Asia (BDA) to sell a stake of around 75 percent. Savera’s founders would retain the remaining stake, the people said. A spokeswoman for Partners declined to comment, while BDA did not respond to requests for comment. Savera could not be reached for comment. Sources declined to be identified as they were not authorised to speak publicly on the matter. Partners had 33.8 billion euros ($45 billion) in assets under management at the end of June, and invests money in private equity, infrastructure, debt and real estate. To earn higher returns, Partners is expanding into Asia by investing in companies directly, with its latest deal valuing Savera at around $433 million. Partners’ Savera investment is the latest in a series of deals where suitors have taken advantage of a trend towards selling controlling stakes in businesses either based in China, or with significant exposure to the world’s second-biggest economy. That trend has been fuelled by owners long being unable to exit businesses by listing on Chinese stock exchanges because of a recently ended suspension on new listings as part of market reform. AAC Capital UK is looking to sell Strix Group Ltd in a deal that could value the maker of home appliance safety systems at $500 million. The sale is likely to draw interest from Chinese buyers, because of the company’s growth in the country. Chinese growth represents the future of many such niche businesses. Private equity firms and corporate buyers are seeking opportunities to leverage European technology and combine it with Chinese demand, according to bankers. For Baar-Zug, Switzerland-based Partners, the latest deal continues the expansion into direct investment by funds – sovereign wealth funds, pension funds and even mutual funds – in search of higher returns.

GTCR completes Cole-Parmer acquisition

GTCR said Monday that it has closed its buy of Cole-Parmer from Thermo Fisher. No financial terms were disclosed; however, Credit Suisse and Goldman Sachs provided financing for the deal. Headquartered in Vernon Hills, Illinois, Cole-Parmer is a maker of specialty laboratory equipment, instruments and supplies. PRESS RELEASE CHICAGO–(BUSINESS WIRE)–GTCR, a leading private equity firm, today announced that it has completed the previously announced acquisition of Cole-Parmer Instrument Company (“Cole-Parmer” or the “Business”) from Thermo Fisher Scientific Inc. (NYSE:TMO) (“Thermo Fisher”). Cole-Parmer, headquartered in Vernon Hills, Illinois, is a leading global manufacturer and distributor of specialty laboratory equipment, instruments and supplies to a diverse range of customers in pharmaceutical, biotech, healthcare, chemicals, food and other research-based or regulated markets. GTCR is partnering with life science industry veteran Bernd Brust to carve-out the business from Thermo Fisher and position the Business for future growth. Founded in 1955, Cole-Parmer offers a portfolio of industry-leading proprietary brands and private-label products in niche applications to fulfill important needs in the laboratory market. The business has deep technical expertise across a range of specialty products in the field of fluid handling, test & measurement, electrochemistry and other laboratory products. Cole-Parmer sells its broad portfolio of products to a diverse, global customer base. The investment is a result of GTCR’s proactive efforts with Mr. Brust targeting the medical and laboratory product industries. Mr. Brust, former CEO of Qualicaps and, previously, Chief Commercial Operations Officer of Life Technologies Corporation (acquired by Thermo Fisher in 2014), will become the CEO of the Business as a part of the transaction. Mr. Brust has an extensive track record of success within the healthcare and life sciences industry. “We are delighted to partner with Bernd Brust as part of GTCR’s Leaders StrategyTM to acquire Cole-Parmer and carve the Business out of Thermo Fisher,” said Dean Mihas, Managing Director at GTCR. “We believe Cole-Parmer’s strong reputation, management team and portfolio of leading brands provides a unique position within the diverse end-markets it serves. We look forward to partnering with Bernd and investing behind his vision of building a leading company within the lab supply industry.” “I am excited to partner with GTCR on this opportunity,” stated Mr. Brust. “Cole-Parmer represents a compelling platform that is well-known within the scientific research and life sciences communities. I look forward to working with the existing Cole-Parmer management team to grow the Business through product development and acquisitions to extend its leadership position.” Sean Cunningham, Managing Director at GTCR, added: “We are excited to work with Bernd as we look to grow the Business organically and through acquisitions. The transaction highlights GTCR’s extensive experience in corporate carve-outs, and demonstrates our continued enthusiasm for investing in companies that serve the broader lab and life sciences industry.” GTCR’s investment in Cole-Parmer was funded from GTCR Fund XI, a private equity fund raised in 2014 with $3.85 billion of limited partner equity capital commitments. Credit Suisse and Goldman Sachs provided financing for the transaction. Kirkland & Ellis LLP served as legal counsel to GTCR. About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $10 billion in over 200 companies. For more information, please visit www.gtcr.com. About Cole-Parmer Instrument Company
Cole-Parmer has been a leading global source of laboratory and industrial fluid handling products, instrumentation, equipment, and supplies since 1955. Cole-Parmer’s product lines, including popular brand names such as Masterflex®, Oakton®, Digi-Sense™, and more, are sold through company-owned customer channel outlets and a strong network of international dealers. The Business also features an ISO17025-accredited metrology lab for instrument calibration and repair. Cole-Parmer responds with excellence to customer needs, and offers application expertise and technical support.

Enclara Health, Consonance Capital buy hospice services companies

Enclara Health, in partnership with Consonance Capital Partners, has acquired excelleRx, Inc. and PBM Holding Company. The combined companies work for about 475 hospice providers and 84,000 hospice patients per day through direct-to-patient mail orders and local pharmacy benefit manager networks. Terms of the deal were not disclosed. Press Release Enclara Health, LLC (“Enclara”), a national hospice-specialty pharmacy services provider, in partnership with Consonance Capital Partners (“Consonance”), a leading healthcare private equity firm, announced that they have acquired excelleRx, Inc. and PBM Holding Company, Inc. Terms of the transaction were not disclosed. The combined companies service approximately 475 hospice providers and 84,000 hospice patients per day nationwide, through both a direct-to-patient mail order model, as well as a local pharmacy benefit manager (PBM) network model, which provides access to approximately 65,000 participating pharmacies across the country. Mail order services are supported by multiple, state of the art, dispensing locations and pharmacist-staffed call centers. In addition, PBM Plus processes over 8 million transactions per year and reaches approximately 500,000 eligible members through an array of customized pharmacy benefit service programs. Highlights of Transaction Andy Horowitz, Chief Executive Officer of Enclara, said, “We believe the combination of Enclara and Hospice Pharmacia and PBM Plus will provide a compelling service and technology platform for the hospice provider community. We have always strived to provide our hospice partners with exceptional clinical expertise, customer service, and the tools necessary to best manage their patients’ pharmaceutical needs. Enclara’s ability to be forward thinking has allowed us get in front of many of the challenges facing the industry today. We are very excited to leverage the best practices of each company to further enhance our offering.” Tom Stieritz, General Manager and Senior Vice President of excelleRx, Inc, said, “This transaction will create substantial value for the hospice community. Hospice Pharmacia is focused on providing exceptional customer service, and we believe Enclara is the right partner for our business as we move forward. The increased operational scale and efficiency of the combined company will create an even stronger platform to support the evolving needs of the hospice provider and patient community. Given the complementary nature of our businesses and product portfolios, we expect this to be a seamless transition for customers and patients.” Ben Edmands, Managing Partner of Consonance Capital Partners, said, “We are excited to partner with Andy Horowitz and his management team to bring together these exceptional companies. The combination of Enclara, Hospice Pharmacia and PBM Plus will provide our hospice customers with a comprehensive offering that puts their needs at the forefront. By maximizing the service and clinical excellence that these companies are known for and adding operational efficiencies through leveraging the respective technologies and dispensing infrastructure of each company, the combined business is uniquely positioned to deliver high value added, cost effective pharmacy support, direct to patients’ homes and through a local pharmacy PBM network.” About Enclara Health
Enclara Health, LLC is a national full service mail order and PBM supplier of medications and clinical services developed specifically for the hospice and palliative care industry. Enclara was founded in 2006 and is headquartered in West Deptford, NJ. Enclara services some of the largest hospice providers in the country, helping to reduce pharmacy costs through a clinically driven model that enables home delivery of pharmaceuticals, as well as access to a network of over 65,000 retail and institutional pharmacies. For more information, visit http://www.enclarahealth.com. About Consonance Capital Partners
Consonance Capital Partners invests in private companies in the lower middle market of the U.S. healthcare industry with an emphasis on businesses driving efficiency, cost containment and high quality clinical care to patients. Consonance Capital Partners founders, Mitchell Blutt, MD, Benjamin Edmands, Stephen McKenna, and Nancy-Ann DeParle, partnered together for over a decade while at JPMorgan Partners and its successor and predecessor entities, and have over 65 years of combined experience in private equity investing, primarily within healthcare. Consonance Capital Partners participates in growth equity, leveraged buyout, and recapitalization transactions and is currently investing out of a $500 million fund. The private equity fund is associated with Consonance Capital Management, a healthcare-focused long/short public equity manager, and together Consonance Capital has over a billion dollars of assets under management. For more information, visit http://www.consonancecapital.com.

Bregal Partners agrees to dentist acquisition partnership

Bregal Partners has agreed to a strategic partnership with Dental Partners, a southeastern dental practice management platform. Bregal will work with Dental Partners to buy dentistry-focused practices with $5 million to $25 million in revenue in the southeast, Texas and certain Midwestern regions. Press Release Bregal Partners, a leading middle market private equity firm, has entered into an agreement with Dental Partners Inc. (“Dental Partners” or the “Company”), a leading southeastern dental practice management platform, to pursue and acquire general dentistry-focused practices that have $5 to $25 million in revenue in the Southeast, Texas, and select Midwestern geographies. Post-acquisition, Dental Partners intends to support the growth of these practices through further in-market, small acquisitions. Founded by Todd Christie, Dental Partners is a general dentistry-focused dental practice management platform operating in Tennessee, Kentucky, Florida, and Georgia. Dr. Christie started Dental Partners in 2011 with his acquisition of a single clinic in Tennessee, and the company has since grown to 20 clinics via acquisition. A dentist himself, Dr. Christie was previously founder, CEO, and majority owner of Christie Dental, a Florida-based practice management platform that he also built from the purchase of a single clinic and later successfully sold to American Dental Partners in 2009. Bregal Partners’ co-founder and Managing Partner Robert Bergmann noted, “We are delighted to be partnering with Todd, who has now twice built industry leading dental practice management platforms. Having acquired nearly 50 clinics in his career, he has a proven model that works across a wide range of practices: from those where the sellers wish to retire, to those with a young dentist group that wants support to accelerate growth. Critically, he and Dental Partners have a demonstrable track record of supporting acquired practices and driving strong growth post-acquisition.” Mr. Bergmann added that Bregal Partners has been working with Dr. Christie to evaluate potential investments in the dental sector over the last few years and noted the newly formed partnership is the culmination of their prior efforts together. “We have had a front row seat in witnessing the growth of Dental Partners under Todd’s leadership and are excited to be joining forces to take Dental Partners to the next level,” added Bergmann. Dr. Christie stated, “I am thrilled to be partnering with Bregal Partners as Dental Partners looks to its next phase of growth. Bregal Partners brings substantial healthcare investment experience, including experience in the dental sector, which will help us expand our footprint and accelerate our growth. Having gotten to know the Bregal Partners team over the last few years, I am confident I have found a great partner.” About Dental Partners Dental Partners is a general dentistry-focused dental practice management platform in Tennessee, Kentucky, Florida, and Georgia. The company was founded by Todd Christie in 2011 with his acquisition of a single clinic in Tennessee and has grown to 20 clinics via acquisition. Dental Partners offers a complete range of routine, cosmetic and specialized dental health services including preventative care, whitening, crowns, veneers, dental implants, oral surgery, periodontics, endodontics, conscious and intravenous sedation, children’s dentistry and orthodontics. Dental Partners provides dentists and their team members leadership and support through continuing education, staffing, human resources, marketing, training, administration, accounting and information technology. For more information on Dental Partners, please visit www.dental-partners.com. About Bregal Partners Bregal Partners is a private investment firm that invests alongside management teams to build industry leading companies in the middle market. Areas of focus include energy services, consumer, food and retail, and healthcare. With $500 million of committed capital funded by a sixth-generation family foundation with roots back to 1841, Bregal Partners brings experience, stability, and a long-term outlook to all of its investment activities. Bregal Partners is part of Bregal Investments, a global family of private equity and fund investment vehicles that has invested more than $9 billion since 2002. For more information on Bregal Partners, please visit www.bregalpartners.com.

Intervale Capital acquires Recapture Solutions

Intervale Capital has acquired Recapture Solutions, which provides flare reduction and natural gas power services to oil and gas production companies. Intervale acquired Recapture from Triten Corporation. As part of the deal, co-founders Jason Arnoldy has been named chief executive officer and Cary Ratterree has been named president. Press Release Intervale Capital (“Intervale”) has acquired Recapture Solutions, LLC (“Recapture”) from Triten Corporation. Recapture provides flare reduction and natural gas power solutions to oil and gas production companies in the Permian, Williston (Bakken) and DJ (Niobrara) basins. Intervale is a private equity firm which invests exclusively in oilfield manufacturing and service companies. In association with the transaction, Jason Arnoldy has been named Chief Executive Officer of Recapture and Cary Ratterree has been named President. Jason and Cary co-founded Recapture in 2012. Recapture is a pioneer in flare gas capture and well site power solutions and has a leading market share in the markets in which it operates. Recapture operates a fleet of gas capture processing units which are used to capture the valuable natural gas liquids contained in flare gas, significantly reducing the release of environmentally hazardous compounds. Additionally, Recapture leases a fleet of natural gas generators that are capable of utilizing raw, rich wellhead gas as fuel to power artificial lift and other auxiliary production equipment. Recapture’s natural gas generators are designed and manufactured exclusively for well site use and include complete service, remote monitoring and extreme cold-climate winterization. Jason Arnoldy commented, “Since inception, Recapture’s goal has been to provide a gas capture solution that offers a clear economic benefit for our clients, while substantially reducing the environmental impact of flared gas. Reducing natural gas flaring is a challenge for our industry and we are wholly committed to providing innovative gas capture and natural gas power solutions to our clients. Our partnership with Intervale will accelerate growth in key markets as we seek to expand our service offering to include a comprehensive suite of natural gas solutions. Intervale’s industry relationships and oilfield services expertise make it an ideal partner for Recapture.” Charles Cherington, Managing Partner at Intervale added, “We look forward to partnering with Recapture and its talented management team. We are committed to supporting the company’s long-term geographic and service line expansion. Jason and Cary have built an impressive business in a short amount of time. The industry and public recognize natural gas flaring is a waste of our nation’s valuable natural resources and we are excited to join with Recapture to develop a comprehensive solution.” About Recapture Solutions: Recapture is a provider of flare reduction and natural gas power solutions to oil and gas production companies. Its primary areas of operation are the Permian, Williston (Bakken) and DJ (Niobrara) basins. Recapture owns and operates a fleet of natural gas powered generators as well as a fleet of gas capture processing units which are used to capture valuable natural gas liquids contained in flare gas. Company website: http://www.recapturesolutions.com/ About Intervale Capital: Intervale Capital is an energy-focused private equity firm with offices in Boston and Houston. Intervale invests exclusively in middle-market oilfield services and manufacturing companies and related technologies. The firm has raised $1.2 billion of committed capital since its inception in 2006 and is currently investing from its third fund. Intervale portfolio companies include Proserv Group (offshore and subsea equipment and services), TEAM Oil Tools (completions equipment and services), Aegis Chemical Solutions (production chemicals and water treatment), Allied Oil & Gas Services (cementing and acidizing services), Antelope Oil Tool (casing and cementing products), Certus Energy Solutions (diversified oilfield rental equipment), Energes Oilfield Solutions (well flow control, water transfer and safety services), EPIC Lift Systems (artificial lift) and Tier 1 Energy Solutions (Canadian wireline and completions).

Resilience Capital acquires Fulton Technologies

Resilience Capital Partners has acquired Fulton Technologies, which provides maintenance to the wireless industry. Fulton represents the fourth add-on acquisition to Resilience Capital’s Aero Communications platform. Press Release Resilience Capital Partners, a Cleveland-based private equity firm, has announced the acquisition of Fulton Technologies, a provider of maintenance and aftermarket services to the wireless industry in the Midwestern United States. Fulton Technologies is Resilience Capital Partners’ fourth add-on acquisition by its Aero Communications investment platform, which it acquired in October 2012. Aero Communications is a leading provider of customer-focused technology solutions to broadband and wireless providers, businesses, public venues, government facilities and residential subscribers. Steven Rosen, Co-CEO of Resilience Capital Partners, stated “We are always looking for strategic ways to enhance the value of Aero for its wireless customers, and the Fulton investment does just that.” Rosen continued, “From the very early days of the Aero platform we understood the importance of reducing risk for our customers and being a world-class service provider; after four add-on investments, we believe we have accomplished that task and yet continue to seek out interesting owners and operators in the space who want a partnership with Aero and Resilience.” Michael Cavanaugh, a Partner at Resilience Capital Partners, added “Fulton is a truly exceptional company that provides high-quality niche maintenance and monitoring services to blue-chip wireless customers throughout the Midwestern United States.” Cavanaugh continued, “We are very excited to have such a talented group of professionals join the Aero team, and look forward to leveraging their unique capabilities to further strengthen and enhance our partnership with customers.” “Fulton is an excellent provider of wireless tower services, and will enhance our business on multiple fronts. Our customers have been asking us to increase resources and expand our geographic footprint, and this acquisition allows us to do both,” said Greg McCray, CEO of Aero Communications. “Fulton also enables us to deepen our relationships with municipalities. We’re enthusiastic about what this means for our customers.” About Resilience Capital Partners
Headquartered in Cleveland, Ohio, Resilience Capital Partners invests in niche-oriented manufacturing, distribution and business service companies located in the Midwestern and Mid-Atlantic United States with sustainable market positions and a clear path to cash flow improvement. Resilience Capital targets platform businesses with $25 million to $250 million in revenues across a broad range of industries where it can improve a company’s operations, competitive positioning and profitability. Since its founding in 2001, Resilience Capital has invested in 39 companies under 22 platforms. Its portfolio companies today employ more than 5,000 people in 14 states and collectively represent over $2 billion in revenues. Resilience Capital manages in excess of $320 million for its global investor base which includes pension funds, insurance companies, foundations and endowments, fund of funds, wealth managers and investment consultants. For more information, please visit www.resiliencecapital.com. About Aero Communications
Headquartered in Canton, Michigan, Aero Communications employs approximately 1,600 technicians, engineers, customer service and related support personnel in field offices throughout the United States. Aero Communications’ scope of services includes end-to-end system design and engineering, construction, wiring, installation, maintenance and repair solutions, serving leading telecommunications and cable service providers throughout the United States. For more information, please visit www.aerocommunications.com. About Fulton Technologies
Headquartered in Roselle, Illinois, Fulton Technologies performs construction, repair, and maintenance of cell site and tower facilities for leading wireless carriers and related service partners. Fulton also provides site studies, radio frequency interference testing, inventory management, and other support services. Operating in Illinois, Wisconsin, Indiana, Michigan, Iowa, and South Dakota, Fulton also supplies civil alert systems and services to numerous municipalities and utility companies.