Paceline Affiliate Provides $50 Million Investment to Kelso Industries

Paceline Affiliate Invests $40M in Kassel Mechanical to Support Acquisition of Arrow Electric

April 10, 2025

HVAC & Mechanical

An affiliate of Paceline Equity Partners provided a $40 million preferred equity investment in Kassel Mechanical as part of a broader recapitalization to support Kassel's add-on acquisition of Arrow Electric. Kassel, a Columbus, Ohio-based MEPF contractor, will use the capital to fund growth and the purchase of Greenville, Pennsylvania-based electrical contractor Arrow Electric.

Kelso & Company Invests in Pathstone; Lovell Minnick Partners Continues Support

May 27, 2023

Wealth Management

Kelso & Company completed a strategic equity investment in Pathstone in May 2023, joining existing investor Lovell Minnick Partners which is increasing its capital commitment. Pathstone, an independent wealth management and family office advisory firm with more than 350 employees across 17 offices and over $80 billion in client assets, will use the capital to invest in people, technology, and to accelerate its growth and M&A strategy while management continues to run day-to-day operations.

Affiliates of Paceline Equity Invest in Everflow Supplies

June 4, 2025

Building Products

Affiliates of Paceline Equity Partners have made a meaningful equity investment in Everflow Supplies, a national master distributor of plumbing, electrical, fire protection, and industrial products. The deal provides growth capital to accelerate Everflow's expansion and build on its distribution footprint; Everflow founder David Templer retains a meaningful stake and Andrew Pacifico was named CEO.

Vance Street Capital Partners with Keltec Technolab

March 28, 2024

Industrial Services

Los Angeles-based private equity firm Vance Street Capital has partnered with Keltec Technolab Inc., a Twinsburg, Ohio manufacturer of aftermarket compressed-air filtration components, to support the company's next phase of growth. The Kaiser family is retaining a significant ownership stake and will continue to lead Keltec; debt financing was provided by Apogem Capital and terms were not disclosed.

Keystone Capital Acquires Lane Power & Energy Solutions, Inc.

October 1, 2019

Oil & Gas

Keystone Capital has completed the acquisition of Lane Power & Energy Solutions, Inc. (LPES), a Houston-based provider of underground hydrocarbon storage and turnkey EPC services for petrochemical, midstream and government customers. Keystone said it will partner with LPES management to expand capabilities, broaden service offerings and grow organically and via targeted acquisitions; transaction terms were not disclosed.

Kelso & Company Takes 25% Minority Stake in Wellington-Altus Financial Inc.

January 12, 2026

Financial Services

Kelso & Company closed a nearly CAD 400 million secondary minority common equity investment to acquire a 25% stake in Wellington-Altus Financial Inc., implying an enterprise value of more than CAD 1.5 billion. The transaction provides liquidity to existing advisors and employees while supporting Wellington-Altus’s continued growth as the firm surpasses 1,000 employees and CAD 45 billion in assets under administration.