Managers
Private equity firm Resilience Capital Partners has acquired Thermal Product Solutions (TPS), a subsidiary of SPX Corporation.
TPS designs and manufactures standard and custom environmental test chambers, industrial ovens and industrial furnaces.
Product brands include Tenney, Blue M, Gruenberg, Lindberg, and MPH. The company's facilities are in White Deer, Pennsylvania, Riverside, Michigan, and Malaysia.
"We are pleased to have been selected by SPX for this divestiture. This is Resilience's tenth corporate carve out often working with a very large corporation on an extremely complex corporate divestiture. Resilience and SPX closed this transaction in 44 business days. These are
Karnov Group, the Scandinavian information and business intelligence provider backed by GMT Communication Partners, has secured a DKK510m refinancing.
Karnov provides legal, tax and accounting information to businesses in Demark and Sweden and was acquired by GMT, the European TMT-focused private equity group, in 2011 from Thomson Reuters.
Since the acquisition, Karnov has pursued an ambitious strategy that has transformed the business from a 20th century publisher into a modern information technology company. In addition to bringing in a new chairman, CEO and management team, the company has pursued a customer-centric approach, focusing on the integration of premium information
Transom Capital Group has sold Uncle Milton Industries to KCB Management.
The sale represents Transom Capital's second successful exit within the last 12 months.
Founded in 1946, Uncle Milton creates, develops and markets science and nature-based toys for children of all ages.
Uncle Milton's flagship Ant Farm ant habitat was first introduced in 1956. Since then, Uncle Milton has broadened its portfolio of proprietary and licensed product lines including the In My Room, Star Wars Science, and National Geographic brands.
Uncle Milton distributes its toys through a wide range of retail channels including mass merchant, specialty toy,
The Carlyle Group is to acquire a 100 per cent stake each in Tyco Fire & Security Services Korea and its subsidiaries (ADT Caps, Capstec and ADT Security) from Tyco in a USD1.93bn deal.
The transaction is the largest private equity buyout deal in US dollar value in Korea since 2008. The transaction is subject to customary closing conditions including required regulatory approval and is expected to close in the second quarter of 2014.
ADT Korea is a provider of advanced security solutions in Korea, serving approximately 475,000 small-and-medium-sized businesses, commercial and residential customers. The business provides central monitoring
KKR, together with management, has acquired majority ownership of Sedgwick Claims Management Services for USD2.4bn from previous investors Hellman & Friedman and Stone Point Capital.
Additionally, Stone Point Capital has joined the investment as a minority equity partner.
"With the strategic resources of KKR now in our corner, the future of Sedgwick has never looked brighter," says David A. North, president and CEO of Sedgwick. "Further, that our longtime partner Stone Point Capital has chosen to invest in Sedgwick for the third time demonstrates their confidence in our business model and industry-leading best practices. My colleagues and I look
The Resolute Fund, together with certain additional funds managed by The Jordan Company, has completed the sale of Haas Group to Wesco Aircraft Holdings for USD550m in cash.
Resolute made its initial investment in the growing and under-penetrated chemical supply chain management (CSCM) industry with the acquisition of ICMS Holdings (d/b/a Avchem) in 2006, and increased its investment in CSCM through the acquisition of four targeted businesses – including Haas TCM in 2007.
The combined entities, which conduct business as Haas, provide global chemical supply chain management and integrated supply solutions for the commercial aerospace, airline, military, energy, and
Bowman Power, the waste heat recovery technology business, has secured GBP3m (USD5.0m) of additional funding from existing shareholders including Octopus Investments, Fjord Capital and a number of angel investors.
The round was heavily oversubscribed.
The funding will primarily be used for the global expansion of this fast growing business. Bowman is looking to enlarge its global footprint and develop new products thanks to the capital injection. In particular, the funds will be used for additional marketing associated with an expanding worldwide distributor network for Bowman’s innovative energy recovery technologies. Bowman now has a total of six distributors globally.
Company
The Riverside Company has acquired Optima and its related companies (Mec3), a developer, manufacturer and marketer of ingredients for gelato, pastry and other foods.
Based in San Clemente, Italy, Mec3 sells internationally and enjoys a reputation for quality products, continuous innovation and reliable customer service).
With annual revenues of around EUR100 million, Mec3 has become a leader in gelato and pastry ingredients through an innovative and authentic approach to providing ice-cream makers around the world with a full range of products from its exceptional production facilities. Mec3 serves more than 60,000 customers, helping them to deliver an authentic Italian
An affiliate of private equity investment firm HIG Capital has completed the acquisition of American Pacific Corporation (AMPAC), a manufacturer of fine and specialty chemicals, in a take private transaction.
Headquartered in Las Vegas, NV, the Company operates under two primary business segments. The Fine Chemicals segment is a market leader in the manufacture of pharmaceutical ingredients, including active pharmaceutical ingredients and registered intermediates. The Specialty Chemicals segment is the sole North American producer of ammonium perchlorate, the mission-critical oxidising agent for solid propellant rockets, booster motors and missiles used in government and commercial aerospace and defence programs.
Joe Carleone,
US power and energy infrastructure manager LS Power Equity Advisors has held the final close of LS Power Equity Partners III at a hard-cap of USD2.075bn, exceeding its initial target of USD1.5bn.
Evercore Private Funds Group acted as the global placement agent for the fundraising with Magenta Capital Services supporting the effort in the Middle East and Asia. Kirkland & Ellis served as legal advisor.
Fund III launched in July 2013 and closed within just seven months, following a first close completion in December 2013 of USD1.52bn. Fund III was oversubscribed, attracting commitments from a globally diverse group of
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