Providence Group Acquires Webster Electric with Mezzanine Debt from Assurance Mezzanine Fund

MPE Partners Acquires Webster Industries from Employee ESOP

March 6, 2024

Manufacturing

MPE Partners (Morgenthaler Private Equity) has acquired Webster Industries, a manufacturer of engineered class chain, sprockets, and vibratory material-handling equipment, from the company's employee-owned stock ownership plan. MPE will partner with Webster's existing management team to accelerate growth, pursue complementary add-on acquisitions, and expand the company's product and end-market penetration.

Eliassen Group Acquires Webster Consulting Group

November 12, 2019

IT Services

Eliassen Group, a national strategic consulting and talent solutions firm based in Reading, Massachusetts, has acquired Webster Consulting Group, an IT consulting and staffing firm based in Woburn, Massachusetts. The deal brings Webster's project management, business analysis, QA, development and data & analytics staffing capabilities into Eliassen's broader service offering to expand capabilities and client reach.

Assurance Mezzanine Fund Invests in Visual Connections, LLC

October 31, 2020

IT Services

Assurance Mezzanine Fund (Assurance) completed an investment in Visual Connections, LLC, a Windsor Mill/Columbia, Maryland-based IT and professional services provider. Assurance provided working capital and committed to finance future acquisitions to support Visual Connections' growth.

Providence Equity Partners Invests in Sweetwater

June 29, 2021

E-Commerce

Funds advised by Providence Equity Partners made a growth equity investment in Sweetwater, the Fort Wayne-based e-commerce retailer of musical instruments and audio equipment; financial terms were not disclosed. The investment is intended to accelerate Sweetwater's next phase of growth as the company — which reported roughly $1 billion in annual revenue and serves over 1.5 million customers — scales operations and expands its market reach.

Brookside Mezzanine Partners Invests in Worldwide Electric Corporation LLC

April 22, 2020

Industrial Services

Brookside Mezzanine Partners provided subordinated debt and a minority equity co-investment to Worldwide Electric Corporation LLC (WWE), a portfolio company of Graycliff Partners, to support WWE’s growth strategy. WWE, founded in 1998 and headquartered near Rochester/Fairport, New York, is a developer, importer and value‑added distributor of industrial electric motors, motor controls and gear reducers.

Providence Equity Acquires Majority Stake in Groupe La Centrale from Axel Springer

December 16, 2020

E-Commerce

Providence Equity Partners entered exclusive negotiations to acquire a majority stake in Groupe La Centrale, a leading French car classifieds and automotive marketplace, from Axel Springer. Providence will partner with management and retain Axel Springer as a minority shareholder to invest in the company’s digital platform, expand services to dealers and drivers, and drive organic growth; the deal was expected to close in Q1 2021 subject to customary conditions and regulatory approvals.