Managers
An affiliate of private equity firm Aterian Investment Partners has completed the carve-out acquisition of ten heat treating facilities in the US and Canada from Bluewater Thermal Solutions.
The acquired plants will continue to operate under the Bluewater name.
Bluewater is a provider of heat treating services and solutions to a number of North American manufacturing industries. The company provides a range of metallurgical heat-treating processes in which metal parts are exposed to precise temperatures, atmospheres, quenchants, and other conditions to improve their mechanical properties, durability, and wear resistance.
Bluewater has locations in Michigan, Illinois, Indiana, Pennsylvania and Canada. From
Private equity firm HIG Capital has completed the sale of Texas Honing (THI), an engineering-enabled producer of high precision components used in oilfield drilling, completion, and production systems worldwide.
After the transaction, the company will be included in the Forged Products segment of Precision Castparts Corporation.
Based near Houston, Texas, THI was founded in 1976 as a specialised honing business catering to local oilfield tool companies. Over the past 35 years, THI has grown its offering to include eight complementary services including drilling, honing, boring, turning, skiving, off-centre drilling, and CNC processing.
“HIG has been a valuable partner and sounding
Riordan Lewis & Haden | Equity Partners’ (RLH) portfolio company, ABB Concise Optical Group, has been recapitalised by New Mountain Capital.
The transaction provided a favourable financial outcome for RLH’s investors while affording the ABB Concise management team the opportunity to continue their growth strategy in partnership with a new investor.
ABB Concise, based in Coral Springs, Florida, is the nation’s largest distributor of soft contact lenses. The company supplies more than two-thirds of the independent eye care professionals in America with brand name contact lenses, high grade ophthalmic products, and fully customisable gas permeable lenses.
The ABB Concise transaction
Investec Growth & Acquisition Finance has provided a debt facility to support the vendor backed management buy-out of BM Polyco, the UK’s largest professional and consumer gloves business, led by managing director Mark Holdaway.
Headquartered in Enfield, BM Polyco is the UK’s largest supplier of consumer hand protection through brands such as Bizzybee and Finesse, as well as being one of Europe’s largest professional glove makers.
Originally founded in 1979 by Leslie Blustin and Greg Murray, it has grown both organically and through a number of acquisitions including Bodyguards. It now employs 125 staff and generates over GBP55m in annual
Private equity fund Fortissimo Capital has acquired international roaming solutions provider Starhome from Comverse Technology and other shareholders.
Starhome’s roaming management tools enable wireless operators to generate high-margin revenues from Starhome’s multi-network reach; offer seamless out-of-network subscriber services; collaborate with other wireless operators; gain intelligence about their customers; and maximise network efficiency.
Starhome’s products are used by more than 200 mobile operators worldwide, including by 20 of the 30 largest operators in the world. More than 50 per cent of global roaming traffic occurs through Starhome’s technology.
The company has 220 employees, including 180 employees in Israel.
Yuval Cohen, founding
Ecorse Investments, a company indirectly owned by private equity firm Advent International, has purchased 58.61 per cent of EKO Holding Group shares, giving it control of the group.
EKO is one of the largest trading groups in Poland.
First settlements have already taken place. Ecorse now owns 28,492,014 of EKO shares. The tender offer for 100 per cent of shares remains outstanding until 29 October.
Tamas Nagy (pictured), partner at Advent International, says: “Advent is pleased with the successful purchase of a majority stake of EKO Holding by Ecorse Investments. We look forward to working together with the
Wynnchurch Capital has partnered with existing management to make an equity investment in Loadmaster Derrick & Equipment, a provider of onshore and offshore drilling equipment.
Headquartered in Louisiana, Loadmaster has developed expertise in the design and fabrication of derricks and related equipment, which it provides to a global customer base.
Tommy Welsh and Tommy Hebert, the owners of Loadmaster, co-invested in the transaction and will continue to lead the company.
"Our partnership with Wynnchurch will enable us to pursue attractive acquisition opportunities and further develop our growing product portfolio,” says Welsh. “After considering several potential financial partners, Wynnchurch stood out
Resilience Capital Partners, a Cleveland-based private equity firm, has acquired Advanced Communications through its newly-formed entity, Aero Communications Inc (ACI).
ACI is a provider of telecommunications infrastructure services to businesses, individuals and governments.
ACI is Resilience Capital Partners’ first acquisition in the infrastructure services industry and its fifth platform investment in The Resilience Fund III.
“We are excited to partner with ACI, an established business partner to some of the leading telephone and cable television systems in the country,” says Steve Rosen (pictured), co-chief executive of Resilience Capital Partners. “ACI has a well-established franchise, committed employees and valued expertise, providing
Middle market private equity firm American Industrial Partners (AIP) and private markets investment manager Partners Group have sold Micro-Poise Measurement Systems to AMETEK for USD170m in cash.
Micro-Poise, headquartered in Ohio, is the world’s largest provider of integrated test and measurement solutions for the tyre industry in both developed and emerging markets.
AIP and Partners Group teamed to acquire Micro-Poise from Illinois Tool Works in April 2007.
The company’s test and measurement products are used to measure the balance, uniformity, and geometry of both tyres and tyre and wheel assemblies. Micro-Poise operates four manufacturing facilities in the US, Europe, and
The Champ III Funds, advised by Champ Private Equity, has completed its acquisition of Gerard Lighting Group.
In July 2012, a scheme implementation agreement was executed between an entity owned by the Champ Funds and the board of Gerard Lighting.
Completion today follows the approval of both Gerard Lighting shareholders and the Federal Court of Australia.
Gerard Lighting is an Australian lighting manufacturer and distributor, with international operations in New Zealand, India, the Middle East, the UK, Indonesia and Malaysia. The company targets all segments of the lighting industry through brands including Pierlite, Sylvania and Crompton.
John Haddock, Champ managing
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