Acquisitions in New Jersey in 2014

Greenwich-based Pillsman Partners, alongside RFE Investment Partners and Squan management, recapitalized Squan Construction Services of Englewood, New Jersey to fund continued growth and support the company’s wireless infrastructure services. The transaction closed on October 10, 2014 and was structured as a recapitalization with investor partnership and management participation.

Bubbies of San Francisco has acquired Othentic Foods, a New Jersey-based importer of USDA-certified organic and all-natural pickles, sauerkraut and other preserved vegetables from Poland. The acquisition expands Bubbies' specialty fermented and pickled product portfolio and is intended to capture cost and market synergies across natural and specialty grocery channels.

Dobbs Equity Partners completed a recapitalization of The Universal Group Corporation, providing partial liquidity to founders Annik and Nick Smith while the Smiths retain management roles and a meaningful ownership stake. The Universal Group, a distributor of leaf springs and suspension components to truck and trailer OEMs and aftermarket customers, will operate as The Universal Group LLC with capital to support growth and geographic/product expansion.

DCIM Solutions, LLC — a newly formed partnership between NER Data Corporation and Performance Tuning Corporation (PTC) — has acquired NER's Data Center Solutions Division. The carve-out will operate independently out of Glassboro, New Jersey and was structured to provide working capital to support continued solution development, expanded service support, and sales efforts.

Palladin Consumer Retail Partners, a Boston-based private equity firm, acquired AEROSOLES, the Edison, New Jersey-based footwear brand, in a majority buyout announced June 9, 2014. Palladin will provide capital and operational support to expand AEROSOLES' retail, wholesale and e-commerce distribution (the company sells in ~30 countries, ~4,000 doors and operates ~120 retail/outlet locations); financing for the deal included debt from Wells Fargo and THL Credit.

KODA Distribution Group (KDG), a Stamford, Connecticut-based specialty chemical distributor, has acquired Marcor Development Corp., a Carlstadt, New Jersey distributor of specialty chemicals and naturally derived ingredients for nutraceutical, pharmaceutical and related markets. Marcor will continue to operate from its Carlstadt headquarters with existing management and staff as KDG builds a new pharma / bionutrients business segment.