Advent International has taken a “significant majority” stake in Morrison Supply Company, a distributor of plumbing and HVAC supplies. Advent operating partner Chip Hornsby will join the company as chief executive officer. Scott Sangalli, Morrison’s former chief executive, will continue as an investor in the company. Terms of the acquisition were not released.
3 min read · 30 November 2011
Kirkland & Ellis International acted as an advisor to Gilde Buy Out Partners on the acquisition of Eismann AG, the firm announced Wednesday. Mettmann, Germany-based Eismann is a direct seller for frozen food in Europe. Terms of the deal were not released. Gilde Buy Out Partners operates across the Netherlands, Belgium, Germany, Switzerland and France.
2 min read · 30 November 2011
The British Business Angels Association announced Wednesday the launch of a new 50 million pound ($78.6M) angel co-investment fund. The Angel CoFund will invest alongside Business Angel syndicates across England. The fund is administered with the support of Capital for Enterprise Limited and set up with a grant from the Regional Growth Fund, the association said in a written statement.
2 min read · 30 November 2011
2 min read · 30 November 2011
TSG Consumer Partners has closed its sixth fund, TSG6 L.P., with $1.3 billion in commitments, the firm announced Wednesday. San Francisco-based TSG Consumer Partners focuses on investments in middle-market consumer companies in sectors spanning food, beverage, personal care and household products.
2 min read · 30 November 2011
Buyout shop Triton has hired Deutsche Bank and Handelsbanken to advise it on a sale of portfolio company Bravida, which provides installation services for buildings and plants, Reuters reported Wednesday. The company could fetch an estimated $1 billion. Triton, which focuses on companies in the Nordics and in German-speaking parts of Europe, bought Bravida at the end of 2006, Reuters wrote.
3 min read · 30 November 2011
Middle-market private equity shop Gryphon Investors has completed its acquisition of Trinity Consultants. Terms of the deal were not released. Trinity is a Dallas-based provider of air quality compliance and permitting services. Gryphon Investors is based in San Francisco. As part of the deal, NXT Capital announced Wednesday that it provided a $45 million senior credit facility to fund the acquisition.
3 min read · 30 November 2011
StepStone Group is acquiring the funds management business of Parish Capital Advisors, a private equity investment manager with $2 billion under management, the firms announced Wednesday. Terms of the acquisition, which is expected to close in January, were not released.
3 min read · 30 November 2011
Sun Country Foods, a newly formed portfolio company of Brynwood Partners, has acquired the Kretschmer wheat germ brand and manufacturing facility from The Quaker Oats Company, the firm announced Wednesday. Terms of the deal, which closed Tuesday, were not released. Sun Country Foods will be headquartered in Boston.
3 min read · 30 November 2011
Adobe Systems has acquired Efficient Frontier, a venture-backed maker of multi-channel ad buying and optimization software. Terms of the deal were not released. Efficient Frontier was funded by investors including Redpoint Ventures and Cambrian Ventures.
6 min read · 30 November 2011
