Carousel Capital Recapitalizes Palmetto Infusion Services

Sidereal Capital Leads Recapitalization of Palmetto Adhesives

February 28, 2023

Manufacturing

Sidereal Capital Group led a recapitalization of Palmetto Adhesives Company, LLC, partnering with the company's senior management while Parkway Capital, Spring Capital Partners, Route 2 Capital Partners, and MPowered Capital provided subordinated debt and equity support. Palmetto Adhesives, a Greenville, South Carolina–based manufacturer and distributor of hot melt and water-based adhesives with additional facilities in New Jersey and California, will use the capital to support growth and expansion initiatives.

CenterOak Partners Majority Recapitalizes Palmetto Exterminators

October 6, 2022

Environmental Services

CenterOak Partners completed a majority recapitalization of Palmetto Exterminators, with the selling family retaining an equity stake and the incumbent senior management remaining in place. Palmetto, headquartered in Charleston, South Carolina, operates eight branches providing general pest, termite and mosquito control to residential and commercial customers across the Carolinas and Georgia; CenterOak intends to support the company's organic growth and roll-up strategy through add-on acquisitions.

Carousel Capital Recapitalizes Armstrong Transport Group

June 18, 2019

Logistics & Distribution

Carousel Capital has partnered with Armstrong Transport Group management to recapitalize the Charlotte-based freight brokerage, providing equity from Carousel Capital Partners V and senior debt from Barings. Armstrong, a technology-enabled, non-asset based logistics platform that facilitates nearly $500 million in annual transportation spend for over 4,000 customers, will use the investment to accelerate growth and expand its technology and service offerings.

Carousel Capital Recapitalizes Reliance Partners

August 29, 2022

Insurance

Carousel Capital partnered with Reliance Partners' management and existing investor Lamp Post Group to recapitalize Reliance Partners, a Chattanooga-based commercial insurance broker focused on the transportation industry. The recapitalization will provide capital and strategic support to help Reliance scale its premium volume (nearly $500 million today) and pursue its goal of exceeding $1 billion in gross written premiums.

Graycliff Partners Provides Subordinated Debt and Minority Equity to Palmetto Moon

February 3, 2026

Retail

Graycliff Partners LP completed a subordinated debt investment and minority equity investment in Palmetto Moon, LLC, a Charleston-based specialty retailer operating 51 stores across the Southeastern United States. Proceeds will fund a distribution to shareholders and general corporate purposes; Palmetto Moon remains a portfolio company of Topspin Consumer Partners.

Cimarron Healthcare Capital Majority Recapitalizes Infusion Management

September 10, 2022

Healthcare Services

Cimarron Healthcare Capital completed a majority recapitalization and growth equity investment in Infusion Management, the MSO affiliated with Infusion for Health. The investment will support Infusion Management's expansion from the greater Los Angeles market across the West Coast and strengthen clinical and management capabilities.