Spouting Rock Acquires Majority Stake in Penn Capital; RBB Adopts Penn Capital Funds Trust

Spouting Rock Asset Management Acquires Majority Stake in Old Hill Partners

January 7, 2022

Financial Services

Spouting Rock Asset Management announced an agreement to merge with Old Hill Partners and has formed a new subsidiary, Spouting Rock Alternative Credit, LLC (SR Alternative Credit), to house Old Hill's asset-based lending business. Former Old Hill employees Jeff Haas and Peter Faigl will operate the new subsidiary as it targets asset-based lending opportunities for borrowers seeking $10–50 million in financing and aims to expand Spouting Rock’s private credit capabilities.

Mubadala Capital Acquires 42% Stake in Silver Rock Financial LP

December 6, 2024

Financial Services

Abu Dhabi-based Mubadala Capital acquired a 42% minority stake in U.S. private credit manager Silver Rock Financial LP through a mix of cash and Mubadala capital stock, with an option to increase to 50%. The deal brings Silver Rock principals and M‑Cor (the Milken family office) into Mubadala Capital’s asset management platform while preserving Silver Rock’s operational independence and management leadership; the transaction is expected to close by Q2 2025.

Rock Mountain Capital Invests in Spark Orthodontics

April 21, 2021

Healthcare Services

Rock Mountain Capital made a significant minority investment in Spark Orthodontics, a specialty orthodontics platform with 10 locations across rural and suburban Pennsylvania. The investment will fund Spark's growth strategy to acquire additional practices and expand into new markets; financial terms were not disclosed.

Concrete Pumping Holdings Acquires Capital Pumping

March 18, 2019

Construction

Concrete Pumping Holdings, Inc. (Nasdaq: BBCP) agreed to acquire Capital Pumping, LP and its affiliates in an all-cash transaction to expand its footprint and scale in the fragmented Texas concrete-pumping market. The deal—expected to close in Q2 2019 and financed via equity/equity-linked securities and additional term loans—adds a well-run, family-owned Texas business with an efficient, young fleet and reported adjusted EBITDA of approximately $23 million for 2018.

Penn National Acquires 36% Stake in Barstool Sports

February 20, 2020

Media & Entertainment

Penn National Gaming acquired a 36% minority interest in Barstool Sports for approximately $163 million, comprised of cash and convertible preferred stock. The deal makes Penn National Barstool's exclusive gaming partner with rights to use the Barstool brand for online and retail sports betting and positions the companies to roll out a Barstool-branded sportsbook and interactive products.

Rockefeller Capital Management Acquires Spearhead Capital's Wealth Management Business (Bostwick Walters Group)

June 6, 2022

Financial Services

Rockefeller Capital Management has acquired the wealth management business of Spearhead Capital and will operate the team as The Bostwick Walters Group. The team of 12 professionals serves roughly 70 families with more than $1.5 billion in client assets and will join Rockefeller's Southeast Division.