Stationhead and Mellomanic Merge; Sterling Partners and Universal Music Group Invest

Gemini XIII Acquires United Stations Radio Networks

July 5, 2023

Media & Entertainment

Gemini XIII has acquired United Stations Radio Networks (USRN), a long-established radio network and content syndication company. The acquisition strengthens Gemini XIII's audio and podcast capabilities, expands its sales offerings, and integrates USRN's programming and distribution into Gemini's content ecosystem.

Muse Group Acquires Hal Leonard with Investment from Francisco Partners

December 4, 2023

Media & Entertainment

Francisco Partners has provided growth capital to back the combination of Muse Group and Hal Leonard, creating an expanded global music content and learning platform. Hal Leonard will join Muse Group while both firms retain their existing headquarters; the combined business will leverage Muse Group’s digital products (Ultimate Guitar, MuseScore, Audacity) and Hal Leonard’s extensive sheet-music catalog to accelerate product, content and education offerings.

Main Street Provides $50.8M to UBM to Facilitate Merger with Mystic Logistics

January 6, 2026

Logistics & Distribution

Main Street Capital provided $50.8 million of financing (first‑lien senior secured term debt and minority equity) to UBM ParentCo, LLC (United Business Mail) to facilitate UBM's merger with Mystic Logistics Holdings, LLC. As part of the transaction Main Street exited its debt and equity investments in Mystic and became a lender and minority equity owner in UBM.

UPSTACK Acquires Universal Telecommunications and Universal Solutions Providers

April 7, 2022

IT Services

UPSTACK acquired Universal Telecommunications Inc. and sister company Universal Solutions Providers LLC (together, "Universal, the Communications Company") to expand its internet infrastructure advisory and managed services capabilities. Universal's owner Mervyn Gervis will join UPSTACK as a Partner, and Universal's leadership will take senior roles within the combined organization; financial terms were not disclosed.

Concord Acquires Stem Distribution

March 24, 2025

Media & Entertainment

Concord (Concord Label Group) has acquired Stem, the artist-first distribution and label-services platform led by CEO Milana Lewis and President Kristin Graziani. Stem will operate as a separate division within Concord Label Group to accelerate product investment and global expansion, while Tone — Stem's royalty accounting business — is being spun off as a standalone company with Concord as an investor.

Sterling Medical Devices Recapitalizes and Merges with RBC Medical Innovations

February 8, 2023

Medical Devices

Ampersand-backed Sterling Medical Devices recapitalized and merged with RBC Medical Innovations to create a combined electromechanical medical device design, development and manufacturing company. The transaction brings together complementary capabilities (including energy-based electromechanical device expertise and manufacturing) and appoints industry veteran David Montecalvo as CEO of the combined business.