Promus Capital Management Acquires Tersus Solutions

HCG Associates (backed by Southfield Capital) Acquires Protexus

April 19, 2021

Environmental Services

HCG Associates, a nationwide provider of environmental health & safety (EH&S) and Process Safety Management (PSM) services backed by Southfield Capital, has acquired Protexus, a Houston-based regional provider of PSM and Mechanical Integrity services. The acquisition brings Protexus' cloud-based PSM PRO software and regional refrigeration compliance expertise into HCG's platform, expanding service capabilities and geographic coverage for multi-location clients.

ECP Acquires Metrus Energy

July 7, 2022

Renewable Energy

Energy investor ECP (Energy Capital Partners) has acquired Metrus Energy, a San Francisco–based Energy-as-a-Service (EaaS) and building efficiency finance platform. The acquisition will keep Metrus' existing management in place and is intended to accelerate the company’s expansion into new markets and product offerings such as distributed solar, energy storage and EV charging.

Tecum Capital and Expedition Capital Recapitalize BP Business Solutions

July 13, 2021

Environmental Services

Tecum Capital Partners and Expedition Capital Partners led a majority recapitalization of BP Business Solutions, partnering with CEO Lou Pellegrino and management, who retained meaningful ownership. The investors will provide growth capital to accelerate BP's expansion (including potential strategic add-on acquisitions), broaden in-house equipment rental offerings, and support national growth of the company's asset-light managed waste, recycling and facilities services.

Perimeter Solutions Group (Bertram) Acquires Tusco to Expand High-Security Capabilities

August 13, 2025

Industrial Services

Perimeter Solutions Group (PSG), a Bertram Capital-backed national perimeter security platform, has partnered with Tusco, a high-security perimeter solutions contractor, to create PSG's High Security Division. Tusco's management team will continue to lead the business as part of PSG; terms were not disclosed. The deal expands PSG's capabilities for data centers, government and other commercial/industrial customers nationwide.

Apse Capital Continuation Fund (Led by J.P. Morgan) Acquires TerraQuest, Kallidus and Ultima Business Solutions

November 27, 2024

Software

Apse Capital closed a €350 million continuation fund led by J.P. Morgan Asset Management to acquire three existing portfolio companies — TerraQuest, Kallidus and Ultima Business Solutions — from the Apse Capital Bridge Fund. The vehicle will provide follow-on capital to support organic growth and strategic M&A activity across the businesses; Piper Sandler (Aviditi Advisors) and legal advisers Weil and DLA Piper served on the transaction.

Aurora-Backed Spray-Tek Acquires TRuCapSol

August 7, 2023

Manufacturing

Spray-Tek, a specialty spray-drying and ingredient processing platform backed by Aurora Capital Partners, has acquired TRuCapSol, a developer of biodegradable microencapsulation technologies. The acquisition adds TRuCapSol's patented biodegradable capsule IP and R&D capabilities to Spray-Tek's ingredient processing platform to expand addressable markets across personal care, nutraceuticals and pharmaceuticals.