Tonka Bay Equity Partners Invests in LightMart

Tonka Bay Equity Partners Acquires Corporate Technologies

July 19, 2023

IT Services

Tonka Bay Equity Partners led a majority buyout of Corporate Technologies, a Minneapolis-based managed IT services provider, partnering with CEO Jim Griffith and junior capital provider Northstar Capital. The seller was North Central Equity; Northstar provided debt and an equity co-investment to support the transaction as Corporate Technologies becomes a platform for add-on growth across multiple U.S. markets.

Newlight Partners Leads Growth Investment in BayoTech

January 5, 2021

Energy

BayoTech received an equity investment of up to $157 million led by growth equity firm Newlight Partners, with participation from Cottonwood Technology Fund, Sun Mountain Capital and Fortistar. The capital will accelerate BayoTech’s product and project development and infrastructure expansion for its on‑site hydrogen generation and Gas‑as‑a‑Service offerings.

Tonka Bay Equity Partners Acquires Standard Locknut

November 30, 2022

Manufacturing

Tonka Bay Equity Partners led the acquisition of Standard Locknut, LLC, a Indianapolis-based manufacturer of bearing accessories and components. Northstar Capital provided junior debt and an equity co-investment to finance the transaction; Standard Locknut was sold by Dunes Point Capital (a division of Industrial Group Holdings) as part of Tonka Bay's growth strategy to expand capabilities in engineered manufacturing.

Illumus Acquires Barn Light Electric

October 3, 2025

Building Products

Illumus, the Sanford, Florida-based lighting group, has acquired Barn Light Electric, a Titusville, Florida manufacturer of handcrafted, vintage-inspired architectural lighting. The deal (closed October 3) expands Illumus' multi-brand lighting platform by adding design-forward architectural fixtures and strengthening its U.S. manufacturing capabilities.

Caymus Equity Acquires Valley Lighting

May 1, 2025

Electrical Services

Caymus Equity Partners has acquired Valley Lighting, a Linthicum Heights, Maryland-based commercial lighting and shading solutions provider, with CEO Kathy Deppe and EVP Tommy Jones retaining meaningful ownership and remaining in leadership. The May 1, 2025 transaction was supported by SI Private Capital, LongWater Capital Solutions, Midwest Mezzanine Funds and Enterprise Bank; Caymus plans to help Valley expand its geographic footprint and grow its service offerings into key end markets such as data centers, government, and healthcare.

Leonard Green & Partners Makes Strategic Investment in Eyemart Express

October 13, 2020

Retail

Leonard Green & Partners completed a strategic minority investment in Eyemart Express, joining majority stakeholders FFL Partners and the Barnes Family, who will retain majority ownership. The transaction (terms undisclosed) provides growth capital without adding incremental debt and is intended to support Eyemart Express’s continued store expansion, systems investments, and potential strategic acquisitions.