Tracked deals
151
151 tracked deals across 2019.
Recapitalizations in 2019
Buyer mix
PE-led
189 pe · 30 investor
Top trend
Volume peaked in 2021
264 tracked deals announced in 2021.
Buyer Snapshot
Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Abry Partners | 3 | Sector‑focused private equity firm investing in media, co... | PE |
| Audax Private Equity | 3 | Middle-market private equity firm focused on buy-&-build ... | PE |
| Blue Point Capital Partners | 3 | Middle‑market private equity firm focused on business ser... | PE |
| Gauge Capital | 3 | Middle‑market private equity firm partnering with owners ... | PE |
| Tower Arch Capital | 3 | Lower-middle market private equity firm that partners wit... | PE |
| Ampersand Capital Partners | 2 | Middle-market private equity firm focused on growth-orien... | PE |
| Brookside Mezzanine Partners | 2 | Provider of subordinated debt and minority equity capital... | PE |
| CID Capital | 2 | Middle-market private equity firm specializing in owner r... | PE |
| Capitala Group | 2 | Asset management firm providing private credit and equity... | PE |
| Carousel Capital | 2 | Private equity investment firm focused on investing in gr... | PE |
Acquisition Volume in Recapitalizations in 2019 by Year
Last 10 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
- Buyer
- Vance Street Capital LLC, Funds advised by Neuberger Berman Private Credit
- Target
- Eirtech Aviation Services
- Industry
- Industrial Services
- Location
- County Clare, Ireland
- Type
- Recapitalization
Vance Street Capital completed a recapitalization of Eirtech Aviation Services, with funds advised by Neuberger Berman Private Credit co-investing alongside Vance Street. Headquartered in Shannon, Ireland, Eirtech provides engineering, manufacturing, asset management and CAMO services to airlines, lessors and OEMs; founders Niall Cunningham and Gerry O'Shea retain a material ownership stake. The deal positions Eirtech for growth by providing capital, industry relationships and operational support; terms were not disclosed.
-
December 19, 2019
- Buyer
- Audax Private Equity, Corrona management
- Target
- Corrona LLC
- Seller
- Great Point Partners
- Industry
- Healthcare Services
- Location
- Massachusetts, United States
- Type
- Recapitalization
Audax Private Equity has recapitalized Corrona, LLC in partnership with Corrona's management team; terms were not disclosed. Great Point Partners exited its investment as Audax and management position Corrona to expand its real-world evidence registries, data capabilities and pursue further growth.
-
December 19, 2019
- Buyer
- SFW Capital Partners
- Target
- Micromeritics Instrument Corporation
- Seller
- Micromeritics shareholders (including Preston Hendrix and his family)
- Industry
- Manufacturing
- Location
- Georgia, United States
- Type
- Recapitalization
SFW Capital Partners completed a strategic recapitalization of Micromeritics Instrument Corporation, partnering with Micromeritics President Preston Hendrix and his family, who will remain significant shareholders. The deal brings SFW resources and leadership (Terry Kelly named CEO) to support product development, sales and service expansion, and pursuit of strategic add-on acquisitions.
-
- Buyer
- Guardian Capital Partners, Centerfield Capital Partners
- Target
- Flat River Group
- Industry
- E-Commerce
- Location
- Michigan, United States
- Type
- Recapitalization
Guardian Capital Partners (Guardian) invested in Flat River Group, a Belding, Michigan–based eCommerce distributor, partnering with the company's executive management team in a majority recapitalization. Centerfield Capital Partners provided additional financing and minority equity, with CIBC Bank USA providing senior financing; Guardian and management plan to grow the business through investments in infrastructure, capabilities and add-on acquisitions.
-
December 12, 2019
- Buyer
- McCarthy Capital
- Target
- Bigbelly
- Industry
- Environmental Services
- Location
- Massachusetts, United States
- Type
- Recapitalization
McCarthy Capital has recapitalized Bigbelly (Big Belly Solar), providing cash to accelerate growth and support product development. The investment will help Bigbelly expand market penetration for its smart, solar-powered waste and recycling systems and develop new capabilities, including hosting wireless communications technologies such as 4G LTE and 5G.
-
December 12, 2019
- Buyer
- Gryphon Investors
- Target
- Heartland Veterinary Partners
- Seller
- Tyree & D'Angelo Partners, Heartland management (rollover/minority holders)
- Industry
- Veterinary
- Location
- Illinois, United States
- Type
- Recapitalization
Gryphon Investors has made a majority recapitalization investment in Heartland Veterinary Partners, a Chicago-based veterinary support organization with nearly 100 practices and over 200 veterinarians. Tyree & D'Angelo Partners and Heartland management retain minority stakes; Varagon Capital Partners led financing for the transaction. Terms were not disclosed.
-
December 10, 2019
- Buyer
- Tower Arch Capital
- Target
- Creedence Energy Services, LLC
- Seller
- Founders (Kevin Black; Wyatt Black; Malachi Black)
- Industry
- Energy
- Location
- North Dakota, United States
- Type
- Recapitalization
Tower Arch Capital completed a recapitalization of Creedence Energy Services, partnering with founders Kevin, Wyatt and Malachi Black. The transaction will support Creedence’s growth and geographic expansion across the Bakken and Permian basins while providing liquidity and operational support from Tower Arch.
-
December 10, 2019
- Buyer
- Veronis Suhler Stevenson (VSS)
- Target
- Endo1 Partners
- Industry
- Dental
- Location
- Texas, United States
- Type
- Recapitalization
Veronis Suhler Stevenson (VSS) has made a significant growth investment to recapitalize Endo1 Partners, a Houston‑headquartered endodontic partnership organization. The capital will support Endo1's national expansion and a focused add-on acquisition program to consolidate complementary endodontic practices.
-
December 4, 2019
- Buyer
- NMS Capital
- Target
- Center for Social Dynamics
- Industry
- Healthcare Services
- Location
- California, United States
- Type
- Recapitalization
NMS Capital has partnered with Center for Social Dynamics (CSD) management in a recapitalization, making a substantial capital commitment to support CSD's growth. CSD, a home-based applied behavior analysis (ABA) services provider operating across Northern California, Oregon, and Hawaii, will continue to be led by founder and CEO Pete Pallares, who retains a significant ownership stake.
-
December 4, 2019
- Buyer
- Kinderhook Industries, LLC
- Target
- Long's Drugs, Inc., PharMedQuest Pharmacy Services, Inc.
- Industry
- Healthcare Services
- Location
- United States
- Type
- Recapitalization
Kinderhook Industries completed a majority recapitalization of Long's Drugs, Inc. and PharMedQuest Pharmacy Services, combining the two on‑site and central‑fill pharmacy services providers into a single platform to serve Covered Entities (FQHCs, Ryan White clinics, STD clinics and other underserved providers). The transaction creates scale under the Avita/combined platform and is intended to accelerate growth and share best operating practices across the combined business; financial terms were not disclosed.
-
December 3, 2019
- Buyer
- Olympus Partners
- Target
- Heniff Transportation Systems
- Seller
- Heniff management
- Industry
- Trucking & Fleet
- Location
- Illinois, United States
- Type
- Recapitalization
Stamford-based private equity firm Olympus Partners has recapitalized Heniff Transportation Systems alongside Heniff management. Heniff, headquartered in Oak Brook, Illinois, is a leading provider of bulk liquid trucking, tank washing, ISO and transloading services operating an integrated network of over 40 U.S. terminals; Olympus will provide capital to support the company’s next phase of growth and expansion.
-
December 3, 2019
- Buyer
- Tower Arch Capital
- Target
- OSM Worldwide
- Seller
- Founding management team (Gaston Curk and Jim Kelley)
- Industry
- Logistics & Distribution
- Location
- Illinois, United States
- Type
- Recapitalization
Tower Arch Capital has completed a recapitalization investment in OSM Worldwide, a tech-enabled global parcel management and logistics services provider, partnering with the company's founding management team including CEO Gaston Curk and President Jim Kelley. The transaction provides capital and strategic support to fuel OSM's next phase of growth, including organic investments and acquisitions; terms were not disclosed.
-
December 1, 2019
- Buyer
- Caymus Equity Partners LLC, Midwest Mezzanine Funds, RGA Private Debt & Equity, Pan‑Am Dental Management
- Target
- Pan‑Am Dental, LLC
- Industry
- Dental
- Location
- Georgia, United States
- Type
- Recapitalization
Caymus Equity Partners, together with Midwest Mezzanine Funds, RGA Private Debt & Equity and Pan‑Am Dental management, completed a recapitalization of Pan‑Am Dental, a full‑service outsourced dental laboratory headquartered in Savannah, Georgia. The transaction provides Pan‑Am with capital to expand its product portfolio, grow into new geographies and pursue future add‑on acquisitions while management retained a significant equity stake.
-
November 25, 2019
- Buyer
- Renovus Capital Partners
- Target
- ClinicalMind, LLC
- Industry
- Healthcare Services
- Location
- New York, United States
- Type
- Recapitalization
Renovus Capital Partners has recapitalized ClinicalMind, LLC to support expansion of the medical communications agency and growth of its enGauge SaaS technology. The equity financing will fund expansion of ClinicalMind’s strategic and tactical agency services and its physician-engagement and medical affairs SaaS platform; Excel Partners advised the sell-side while DLA Piper and BrownRudnick served as legal counsel.
-
- Buyer
- First Capital Partners, Rotunda Capital Partners
- Target
- Trinity3 Technology
- Industry
- Education
- Location
- Minnesota, United States
- Type
- Recapitalization
First Capital Partners has completed a debt and equity co-investment in Trinity3 Technology to support Rotunda Capital Partners' recapitalization of the business. Trinity3, based in St. Paul, Minnesota, is a value‑added reseller of tablets, laptops, PCs and related support services serving the K‑12 market across the United States.
-
- Buyer
- Primus Capital, Providence Ventures, Martin Ventures, Noro-Moseley Partners, Nashville Capital Network
- Target
- Trilliant Health
- Industry
- Data & Analytics
- Location
- Tennessee, United States
- Type
- Recapitalization
Primus Capital led a major growth investment and recapitalization in Trilliant Health, a healthcare analytics company based near Nashville, Tennessee. Existing investors — Providence Ventures, Martin Ventures, Noro-Moseley Partners, and Nashville Capital Network — also participated to support Trilliant’s product development, data science hiring, and national expansion of its analytics platform for health systems.
-
- Buyer
- EQT Credit
- Target
- Bartec
- Industry
- Manufacturing
- Location
- Baden-Württemberg, Germany
- Type
- Recapitalization
EQT Credit has led an EUR 80 million equity recapitalization of Bartec, with the fund becoming the company's largest shareholder and reducing Bartec's debt by approximately EUR 280 million. The deal strengthens Bartec's balance sheet and positions the explosion-protection equipment manufacturer to pursue growth and operational improvements with support from EQT and the existing management team.
-
November 14, 2019
- Buyer
- Brighton Park Capital
- Target
- Relatient
- Industry
- Cloud & SaaS
- Location
- Tennessee, United States
- Type
- Recapitalization
Brighton Park Capital acquired a majority stake in Relatient as part of a recapitalization and provided significant growth capital to accelerate the company's product development and customer growth. The investment positions Relatient to hire additional employees, expand its patient-engagement platform, and includes Eric A. Spiegel joining Relatient's board as chairman.
-
November 14, 2019
- Buyer
- Leonard Green & Partners, Arsenal Capital Partners, Novo Holdings A/S
- Target
- WCG
- Industry
- Healthcare Services
- Location
- North Carolina, United States
- Type
- Recapitalization
An investor group led by Leonard Green & Partners, in partnership with Arsenal Capital Partners and Novo Holdings A/S, has agreed to recapitalize WCG to provide resources to accelerate growth and expand capabilities in clinical trial optimization. Financial terms were not disclosed; the transaction was announced in November 2019 and expected to close in the first quarter of 2020.
-
November 12, 2019
- Buyer
- Five Points Capital, Pleasant Bay Capital, Crescendo Capital, Capital Southwest Corporation, Mike Dager
- Target
- GrammaTech, Inc.
- Industry
- Cybersecurity
- Location
- New York, United States
- Type
- Recapitalization
Five Points Capital, alongside co-investors Pleasant Bay Capital, Crescendo Capital and Capital Southwest Corporation and new CEO Mike Dager, completed a recapitalization of GrammaTech, a developer of software-assurance tools and application-security solutions. The transaction establishes a new leadership team (Mike Dager as CEO) and positions GrammaTech to expand in the growing application-security market serving government and commercial clients.
-
- Buyer
- Shorehill Capital LLC
- Target
- Triad Technologies, LLC
- Seller
- Wissman family
- Industry
- Industrial Services
- Location
- Ohio, United States
- Type
- Recapitalization
Shorehill Capital acquired an ownership interest in Triad Technologies, LLC in partnership with Triad's management team and the Wissman family. The Wissman family retained a significant ownership stake and Doug Wissman will join the company's board; Twin Brook Capital Partners and Maranon Capital provided financing. Triad is a Vandalia, Ohio-based value-added distributor of industrial fluid power and automation solutions, serving more than 7,000 active customers across 21 locations.
-
November 5, 2019
- Buyer
- White Wolf Capital LLC
- Target
- Temporary Housing Directory (THD)
- Industry
- Professional Services
- Location
- Colorado, United States
- Type
- Recapitalization
White Wolf Capital has recapitalized Temporary Housing Directory (THD), partnering with founder Teresa Vidger to support THD's growth and technology investments. The transaction provides THD with additional capital and resources to accelerate organic growth and M&A initiatives while maintaining the company's high-touch service model for insurance and corporate relocation clients.
-
November 1, 2019
- Buyer
- Pelican Energy Partners
- Target
- Safety Automation Technology, LLC, Shepherd Safety Systems, LLC
- Industry
- Energy
- Location
- Texas, United States
- Type
- Recapitalization
Pelican Energy Partners announced a majority recapitalization of Safety Automation Technology, LLC (SAT) and Shepherd Safety Systems, LLC (Shepherd). The transaction pairs SAT's field safety services with Shepherd's patented H2S monitoring hardware and real-time monitoring software to expand Pelican's capabilities in oilfield safety and emissions/worker-monitoring solutions.
-
- Buyer
- Benford Capital Partners, Will Daly
- Target
- Warehouse-Lighting.com
- Industry
- E-Commerce
- Location
- Wisconsin, United States
- Type
- Recapitalization
Chicago-based private equity firm Benford Capital Partners and investor Will Daly have acquired Warehouse-Lighting.com, a New Berlin, Wisconsin-based B2B e-commerce distributor of LED lighting fixtures, in a deal where founder James Abraham remains president and retains an ownership stake. The transaction is positioned to support growth and scale the company's e-commerce and distribution capabilities across industrial, commercial, municipal, and residential end markets.
-
October 30, 2019
- Buyer
- New Water Capital
- Target
- DataED, Bestronics
- Industry
- Manufacturing
- Location
- United States
- Type
- Recapitalization
Private equity firm New Water Capital announced a recapitalization of two Tier III electronics manufacturing services companies, DataED (Salem, NH) and Bestronics (San Jose, CA). The transaction combines capabilities across PCB assembly, box builds and NPI/ prototype services to expand geographic reach, diversify end markets and strengthen operational capabilities.
-
October 29, 2019
- Buyer
- The Pritzker Organization, Tom Pritzker Family Business Interests (PFBI)
- Target
- STV Group, Inc.
- Seller
- STV Employee Stock Ownership Plan (ESOP)
- Industry
- Engineering Services
- Location
- New York, United States
- Type
- Recapitalization
The Pritzker Organization (advising Tom Pritzker Family Business Interests) will recapitalize STV Group by purchasing ESOP-held shares and partnering with management to support future growth. The transaction, approved by STV's board and ESOP trustee Greatbanc Trust Company with Houlihan Lokey advising STV, is expected to close in December 2019.
-
- Buyer
- Astorg, Nordic Capital, Novo Holdings A/S, ERT management team
- Target
- eResearchTechnology, Inc. (ERT)
- Industry
- Healthcare Services
- Location
- Pennsylvania, United States
- Type
- Recapitalization
Astorg will invest in eResearchTechnology, Inc. (ERT), joining existing owners Nordic Capital, Novo Holdings A/S and the ERT management team in a broadened ownership group. The investors will support continued development of ERT's clinical trial technology platform, expand operational capabilities, and pursue selective add-on acquisitions to drive future growth; financial terms were not disclosed.
-
- Buyer
- NMS Capital
- Target
- JAFLO, Inc.
- Seller
- JAFLO shareholders (Florio family and management)
- Industry
- Environmental Services
- Location
- Pennsylvania, United States
- Type
- Recapitalization
NMS Capital has recapitalized JAFLO, Inc., taking a significant equity stake and partnering with management to establish JAFLO as the firm’s initial vegetation management platform. JAFLO — a Allentown, Pennsylvania–based vegetation management services provider with over 550 employees serving utilities and transportation customers in the Northeast and Midwest — will continue to be led by President Kelly Clapper while founder John (Jay) P. Florio transitions to the board.
-
October 16, 2019
- Buyer
- LLR Partners, Parthenon Capital
- Target
- DaySmart Software
- Seller
- SFW Capital Partners
- Industry
- Cloud & SaaS
- Location
- Michigan, United States
- Type
- Recapitalization
LLR Partners and Parthenon Capital completed a growth-oriented recapitalization of DaySmart Software, acquiring the Ann Arbor-based provider of vertically-focused business management software for salons, pet care, spas and tattoo studios from SFW Capital Partners. The recapitalization is intended to fund product investment, accelerate organic growth and enable complementary acquisitions while DaySmart remains led by CEO Jeff Dickerson.
-
October 15, 2019
- Buyer
- New State Capital Partners
- Target
- Global Holdings (Global Holdings Acquisition, LLC)
- Industry
- Payments & Fintech
- Location
- United States
- Type
- Recapitalization
New State Capital Partners completed a recapitalization of Global Holdings (Global Holdings Acquisition, LLC) supported by a senior credit facility arranged by Comvest Credit Partners. Global Holdings is a payment and account processing provider to the U.S. consumer debt settlement industry and was highlighted for its recurring revenue and long-standing client relationships.
-
October 15, 2019
- Buyer
- Revelstoke Capital Partners
- Target
- The Care Team
- Industry
- Healthcare Services
- Location
- Michigan, United States
- Type
- Recapitalization
Denver-based private equity firm Revelstoke Capital Partners has completed a recapitalization of The Care Team, a Farmington Hills, Michigan-based home health and hospice provider. The investment will provide capital and strategic support to accelerate TCT's growth, pursue multi-state expansion and participate in industry consolidation while founder Jason Laing remains CEO and a significant shareholder.
-
October 10, 2019
- Buyer
- Tower Arch Capital
- Target
- SnugZ USA, LLC
- Industry
- Manufacturing
- Location
- Utah, United States
- Type
- Recapitalization
Tower Arch Capital completed a recapitalization of SnugZ USA in partnership with SnugZ President and CEO Brandon Mackay. The transaction will support product innovation, expansion into additional promotional product segments, and pursue targeted add-on acquisitions to grow SnugZ's promotional products business.
-
October 10, 2019
- Buyer
- Hildred Capital Management, LLC, Gemini Investors
- Target
- DermCare Management, LLC, Skin & Beauty Center Management, LLC
- Industry
- Healthcare Services
- Location
- Florida, United States
- Type
- Recapitalization
Hildred Capital Management completed a majority recapitalization of DermCare Management and Skin & Beauty Center, with Gemini Investors (the prior sponsor), the physician group and senior management retaining minority stakes. The transaction positions the dermatology platform—headquartered in Hollywood, Florida with nearly 30 locations across Florida, California and Texas—for further geographic expansion; financial terms were not disclosed and Oxford Finance provided debt financing.
-
- Buyer
- Ampersand Capital Partners
- Target
- New England Peptide
- Seller
- Sam Massoni, Jennifer Massoni
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Recapitalization
Ampersand Capital Partners completed a majority recapitalization of New England Peptide to support the company's worldwide growth initiatives and expand its peptide synthesis capabilities. As part of the transaction, Dr. José de Chastonay was appointed Executive Chairman; founders Sam and Jennifer Massoni remain noted in the announcement.
-
WestView Capital Partners Completes Growth Recapitalization Investment in Receivable Solutions (RSi)October 4, 2019
- Buyer
- WestView Capital Partners
- Target
- Receivable Solutions, LLC (RSi)
- Industry
- Healthcare Services
- Location
- South Carolina, United States
- Type
- Recapitalization
Boston-based private equity firm WestView Capital Partners completed a growth recapitalization investment in Receivable Solutions, LLC (RSi), a Columbia, South Carolina–headquartered provider of revenue cycle management (RCM) services to hospitals and health systems. The transaction will support RSi’s continued growth and scale its outsourced RCM capabilities while founders Paul Reardon and Donnie Durant remain involved and will sit on the company’s board alongside WestView.
-
October 3, 2019
- Buyer
- Hamilton Robinson Capital Partners, Tanknology management
- Target
- Tanknology
- Industry
- Environmental Services
- Location
- Texas, United States
- Type
- Recapitalization
Hamilton Robinson Capital Partners, together with Tanknology management, has recapitalized Tanknology, the Austin-based global leader in underground storage tank testing, inspection and compliance management. The recapitalization will support expansion of services, new testing technologies and continued growth of Tanknology's national field network and proprietary compliance software.
-
- Buyer
- Court Square Capital Partners
- Target
- J. Knipper and Company, Inc., KnippeRx Inc.
- Seller
- Knipper family
- Industry
- Healthcare Services
- Location
- New Jersey, United States
- Type
- Recapitalization
Court Square Capital Partners recapitalized J. Knipper and Company, Inc. and its affiliate KnippeRx, with the Knipper family selling majority shares and remaining minority owners. The transaction installs Michael Laferrera as CEO and elevates Frank McNicholas to COO (in addition to CFO) and is intended to accelerate growth and strengthen the company's position across pharmaceutical sample management, specialty pharmacy and 3PL services.
-
October 1, 2019
- Buyer
- Pine Tree Equity IV, LP
- Target
- Shortridge Academy Ltd
- Seller
- Founding entrepreneur of Shortridge Academy
- Industry
- Education
- Location
- New Hampshire, United States
- Type
- Recapitalization
Pine Tree Equity IV, LP recapitalized Shortridge Academy Ltd in October 2019, partnering with the company's founding entrepreneur. The recapitalization will support Shortridge's geographic expansion and enable pursuit of complementary add-on acquisitions as a platform investment.
-
October 1, 2019
- Buyer
- The Anderson Group, LLC
- Target
- F.K. Instrument Co., Inc.
- Seller
- Existing shareholders (including Erich Klopfer)
- Industry
- Manufacturing
- Location
- Florida, United States
- Type
- Recapitalization
The Anderson Group, an operationally-oriented private equity investor, completed a recapitalization of F.K. Instrument Co., Inc. in partnership with existing shareholders, including President Erich Klopfer. The transaction recapitalizes the precision machining business to provide growth capital for reinvestment in advanced machining technologies and continued expansion into demanding end markets such as aerospace, semiconductor and defense.
-
October 1, 2019
- Buyer
- Lometa Capital Partners
- Target
- Monaco Enterprises, Inc.
- Industry
- Manufacturing
- Location
- Washington, United States
- Type
- Recapitalization
Lometa Capital Partners has acquired Monaco Enterprises, Inc. in a recapitalization transaction and partnered with management to support growth of the company's integrated emergency management systems business. American Investment Company provided debt financing to support the recapitalization; Lometa intends to fund geographic expansion, invest in talent, and accelerate product development and add-on acquisitions.
-
September 26, 2019
- Buyer
- GTCR, Golden Gate Capital, Bernd Brust and the Cole-Parmer management team
- Target
- Cole-Parmer Instrument Company
- Seller
- Golden Gate Capital
- Industry
- Medical Devices
- Location
- Illinois, United States
- Type
- Recapitalization
GTCR has signed a definitive agreement to recapitalize Cole-Parmer Instrument Company, acquiring a majority stake while Golden Gate Capital and CEO Bernd Brust with the Cole-Parmer management team retain significant minority ownership. The recapitalization will support Cole-Parmer's continued organic growth and strategic M&A in the life sciences, healthcare and environmental laboratory products markets; the company will remain headquartered in Vernon Hills, Illinois.
-
September 25, 2019
- Buyer
- The Halifax Group
- Target
- Prairie Industries, Nu-Pak
- Industry
- Packaging
- Location
- Wisconsin, United States
- Type
- Recapitalization
The Halifax Group completed a recapitalization investment in Prairie Industries, Inc. and Nu-Pak, Inc., partnering with the companies' founders and management to support growth in contract packaging and contract manufacturing. Headquartered in Prairie Du Chien, Wisconsin, the combined business operates multiple packaging and food-manufacturing facilities; terms were not disclosed.
-
September 25, 2019
- Buyer
- Sentinel Capital Partners
- Target
- New Era Technology
- Seller
- Gemini Investors
- Industry
- IT Services
- Location
- New York, United States
- Type
- Recapitalization
Sentinel Capital Partners has completed a recapitalization of New Era Technology, partnering with New Era's management team and incumbent investor Gemini Investors. The transaction (terms not disclosed) positions New Era to continue its organic growth and pursue additional add-on acquisitions to expand its managed services and systems-integration capabilities.
-
September 25, 2019
- Buyer
- Paine Schwartz
- Target
- Gerawan Farming Inc., Wawona Packing Co., LLC
- Industry
- Agriculture
- Location
- California, United States
- Type
- Recapitalization
Gerawan Farming Inc. and Wawona Packing Co., LLC completed a merger to create a larger, combined stone-fruit growing and packing platform, with Paine Schwartz (an existing investor in Wawona) partnering to facilitate the transaction. Dan Gerawan will lead the combined company as the largest individual shareholder and CEO, while Brent Smittcamp remains a significant shareholder and engaged executive.
-
September 24, 2019
- Buyer
- Iron Creek Partners LLC, SKP Holdings, LLC
- Target
- Prism Visual Software, Inc.
- Industry
- Software
- Location
- New York, United States
- Type
- Recapitalization
Iron Creek Partners, alongside investor SKP Holdings (led by Shashank Patel), completed a recapitalization of Prism Visual Software, a Roslyn, New York-based provider of direct store delivery (DSD) and route accounting software. Shashank Patel joined as CEO and Lorraine Keating will remain as President; the investment is intended to support Prism’s product development, organic growth and potential acquisitions in the DSD software space.
-
- Buyer
- Goldman Sachs Merchant Banking Division
- Target
- MedVet Associates (MedVet)
- Seller
- Stonehenge Partners
- Industry
- Veterinary
- Location
- Ohio, United States
- Type
- Recapitalization
MedVet Associates, a Columbus-based network of specialty and emergency veterinary hospitals, completed a recapitalization in mid-2019 that resulted in Stonehenge Partners exiting its investment. The transaction brought an investment from the Goldman Sachs Merchant Banking Division to support MedVet's continued national expansion; terms were not disclosed.
-
September 18, 2019
- Buyer
- L Squared Capital Partners, Addison Capital Partners, GWS management
- Target
- GWS Tool Group
- Industry
- Manufacturing
- Location
- Florida, United States
- Type
- Recapitalization
L Squared Capital Partners has partnered with GWS Tool Group management to recapitalize GWS Tool Group, with participation from incumbent sponsor Addison Capital Partners; financial terms were not disclosed. The recapitalization (with debt led by Varagon Capital Partners) provides a long-term capital base to support GWS’s acquisition-driven growth, geographic expansion, and continued investment in people and facilities.
-
September 17, 2019
- Buyer
- Oak Hill Capital
- Target
- Mercer Advisors
- Seller
- Genstar Capital, Lovell Minnick Partners
- Industry
- Financial Services
- Location
- Colorado, United States
- Type
- Recapitalization
Oak Hill Capital has acquired an equity stake in Mercer Advisors as part of a recapitalization in which current private equity owners Genstar Capital and Lovell Minnick Partners sold part of their holdings. Genstar will remain as an investor and partner; the transaction provides Mercer Advisors with additional capital to support service expansion, organic growth and strategic acquisitions.
-
September 16, 2019
- Buyer
- Capitala Group, Cascadily
- Target
- VisionPoint Marketing
- Industry
- Marketing & Advertising
- Location
- North Carolina, United States
- Type
- Recapitalization
VisionPoint Marketing, a Raleigh-based integrated marketing agency serving colleges and universities, completed a recapitalization with Capitala Group and Cascadily. The transaction provides liquidity and strategic capital to support the company's growth and operations; Berkery Noyes served as VisionPoint's exclusive financial advisor.
-
September 14, 2019
- Buyer
- Quad-C Management, Inc.
- Target
- Boulder Scientific Company
- Industry
- Manufacturing
- Location
- Colorado, United States
- Type
- Recapitalization
Quad-C Management has closed an investment in Boulder Scientific Company, a family-owned specialty chemicals manufacturer headquartered in Mead, Colorado. CEO Scott Birmingham will retain a significant stake and management will remain in place; Quad-C's capital will support growth initiatives including R&D, product development, and commercial scale production in specialty chemicals.
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