Private Equity
Thyssenkrupp has put its most profitable division, its elevator unit, up for sale, Reuters reported. Thyssenkrupp sent out letters asking for expressions of interest to private equity and strategics, including KKR, Bain and Blackstone, the story said. The elevator unit is valued at between 12 billion and 17 billion euros ($13-$19 billion), Reuters said.
1 min read · 05 September 2019
The Cobham family is urging investors to vote against Advent International's 4 billion pound takeover of Cobham, the British defense and aerospace group, the Financial Times reported. Nadine Cobham, whose late husband Michael Cobham ran the company, has written to investors claiming Advent’s offer “significantly undervalues the turnround of a recapitalised business,” the story said.
1 min read · 05 September 2019
ACS American Construction Source has acquired Cotter, Arkansas-based Contractor's Truss System, a provider of engineered wood products. No financial terms were disclosed. ACS is backed by Angeles Equity Partners LLC and Clearlake Capital Group LP.
3 min read · 04 September 2019
May River Capital, a Chicago-based private equity firm focused on lower-middle market industrial growth companies, has formed Advanced Material Processing, a new company focused on material processing equipment for such sectors as food and beverage, pharmaceutical, nutraceutical and chemical. Concurrent with the launch, May River has acquired Kason Corporation, which will be a part of AMP along with May River's existing portfolio company Marion Process Solutions. No financial terms were disclosed. Headquartered in Milburn, New Jersey, Kason is a maker of screening, drying, cooling and processing equipment.
3 min read · 04 September 2019
Resonetics, which is owned by Regatta Medical, a portfolio company of GTCR, has acquired Michigan-based Tru Tech Systems Inc, a supplier of precision grinding services for the medical device market and CNC grinding equipment for the machine tool industry. No financial terms were disclosed.
3 min read · 04 September 2019
Pursuant Capital has acquired Tampa, Florida-based Patio Products Manufacturing, a maker of aluminum screen doors and accessories. No financial terms were disclosed. Generational Equity advised Patio on the deal.
2 min read · 04 September 2019
CORE Industrial Partners said Sept. 4 that it acquired Fleco Industries Inc. Financial terms weren’t announced. Fleco, of Carrollton, Texas, provides lighting solutions and operates nationally through multiple brands, including Saylite, Texas Fluorescents Reinvented, Mobern, Lights Fantastic, Lights Fantastic Pro, Lite and LFP Lighting.
3 min read · 04 September 2019
Construction Supply Group, a portfolio company of The Sterling Group, has acquired Holdfast and Concrete Accessories & Rentals. No financial terms were disclosed.
2 min read · 03 September 2019
TVV Capital has sold Illinois-based Big 3 Precision Products Inc, a maker of packaging solutions, to The Eastern Company. The purchase price was $81.7 million. Stout advised TVV in the transaction while Pinnacle Financial Partners provided TVV’s initial debt financing for Big 3. And, Bass Berry & Sims served as counsel for Big 3.
3 min read · 03 September 2019
Avista Capital Partners has acquired Silicon Valley-based GCM, a manufacturer of components for the medical tech industry. The seller was May River Capital LLC. No financial terms were disclosed.
3 min read · 03 September 2019
