Turning Rock Partners Majority Exit of AmeriQual Group Holdings via Growth Recapitalization

Harlan Bakeries Acquires AmeriQual Group

August 17, 2021

Food & Beverage

Harlan Bakeries LLC has acquired Evansville-based AmeriQual Group Holdings, LLC, a developer, packager and distributor of shelf-stable, refrigerated and frozen foods for branded food companies, government agencies and institutional customers. New York-based Turning Rock Partners provided structured equity financing to support the transaction, with existing shareholders and management also participating.

Turning Rock Partners Exits Next Level Aviation via Management-Led Recapitalization

January 2, 2025

Aerospace & Defense

Turning Rock Partners announced the majority redemption of its preferred equity investment in Next Level Aviation, marking a sponsor exit after its 2019 investment. The transaction was consummated through a management-led recapitalization (supported by a bank partner); Next Level Aviation, headquartered in Sunrise, Florida, employs ~35 people across the U.S. and Ireland and is a global supplier of used serviceable aircraft parts.

RAW Nutrition and The Quality Group Enter Co-Ownership Partnership

April 1, 2025

Food & Beverage

RAW Nutrition has entered a strategic co-ownership and partnership with Germany-based The Quality Group. The agreement makes RAW Nutrition's co-founders co-owners of The Quality Group and aims to combine The Quality Group's production and quality expertise with RAW Nutrition's brand and U.S. market presence to accelerate product development and growth.

Turning Rock Partners Provides $60M Growth Financing to Main Street Auto

July 28, 2025

Automotive

Turning Rock Partners closed a $60 million growth financing to Main Street Auto, a founder-led automotive aftermarket services platform headquartered in Atlanta, Georgia. The capital will support Main Street Auto’s buy-and-build strategy to expand its footprint across the southern United States and accelerate acquisitions and operational scaling.

Quad-C Management Recapitalizes Village Gourmet

August 12, 2021

Food & Beverage

Quad-C Management completed a majority recapitalization of Village Gourmet, a producer of premium branded and private-label meats and snacking products, in partnership with the company's management team. The investment will support Village Gourmet’s organic growth and continued add-on acquisition strategy to scale its portfolio of specialty heritage brands and national distribution.

Cross Rapids Capital Recapitalizes PAK Quality Foods (including FrigiServe)

January 2, 2024

Food & Beverage

An affiliate of Cross Rapids Capital completed an equity recapitalization of PAK Quality Foods, LLC (which includes D Bar Cold Storage d/b/a FrigiServe). The transaction brings in Cross Rapids' capital and resources to support growth and expansion; John Pieper was appointed CEO while founders Gary and Patty Stokes remain significant shareholders. Debt for the recapitalization was provided by Maranon Capital L.P. and Manulife Investment Management.