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Monomoy Capital Partners, a middle-market private investment firm focused on operational value creation, has sold Friedrich Air Conditioning to Rheem, a global manufacturer of HVAC equipment, water heaters, boilers and commercial refrigeration solutions. Terms of the transaction were not disclosed.
Founded in 1883, Friedrich manufactures room air conditioning, dehumidification and air purification products for residential and commercial applications. Friedrich is among industry leaders in high-end air conditioning solutions for single room use in lodging, commercial and multi-family sectors. The company is based in San Antonio, Texas with manufacturing operations in Monterrey, Mexico and distribution centres in Texas and New Jersey.
MiddleGround Capital, a Kentucky-based, middle market private equity firm that makes control investments in B2B industrial and specialty distribution companies, has held final closes on its flagship fund MiddleGround Partners II, LP and a specialty vehicle focused on automotive investments, Mobility Opportunity Fund, LP. Both funds were oversubscribed with strong support from Fund I Investors.
MiddleGround Partners II, a continuation of the firm’s core strategy, and its affiliated parallel funds have closed with a total of USD800 million in commitments. MiddleGround has completed 10 transactions in Fund I which closed in August of 2019 with USD459.5 million of commitments. MiddleGround
Harris Williams, a global investment bank specialising in M&A advisory services, has advised ResMan, a portfolio company of Mainsail Partners (Mainsail), on its sale to Inhabit IQ.
ResMan is a leading end-to-end, SaaS-based solutions provider to property management companies across the conventional multi-family, affordable housing and commercial end markets in the US. The transaction was led by the Harris Williams Technology Group.
“ResMan’s fully-integrated property management SaaS and payments platform offers a range of solutions that help owners, operators and investors optimise operations, deliver a superior tenant experience and grow their business,” says Brian Titterington, a director at Harris Williams.
Generational Capital Markets, a mergers and acquisitions advisor for privately held businesses, has advised Allied Underground on its sale to Altos Partners, LLC. The acquisition closed 28 July, 2021.
Allied Underground (Allied), located in Bertram, Texas, tackles complex infrastructure projects for clients across Central Texas. Its team of managers, superintendents, and skilled laboUrers focus on underground water, wastewater, and storm sewer construction. Customers are balanced across commercial, educational, and multi-family contractors with greenfield, addition, and rehab projects. Allied is well known for its expertise on meeting the needs of complex, fast track projects, with long-term repeat and referral-based customers.
Leonard
FV Bank, a dual licensed challenger bank and digital asset custodian, has announced the successful closing of its Series A funding round worth USD8 million.
EQT Private Equity, through the EQT Mid Market US fund, has agreed to sell Zemax (the Company) to Ansys.
Founded in 1990, Zemax helps the world’s leading brands and institutions design optical systems for a broad range of applications by streamlining the workflow and communication among optical, mechanical and manufacturing engineers. Zemax virtual prototyping tools include OpticStudio®, the industry-leading optical design software suite that enables customers to improve optical performance, get to market faster and reduce both production and development costs. Zemax’s software is used to develop a range of products including space telescopes, augmented reality glasses, LIDAR in autonomous
Cowgills business finance team has brokered a GBP5 million funding deal with Investec Capital Solutions for Wirral-based specialist technical recruitment company Russell Taylor Group.
Founded in 2005, the Group owns four businesses: Russell Taylor Group, Recruit Right, NMS Recruit and Perpetual Engineering Partnerships, providing technical temporary and permanent recruitment solutions for industries, including construction, engineering, manufacturing, oil, gas and energy sectors. Today, the business employs around 120 staff operating out of seven strategically located offices across the UK and has a combined turnover of cGBP35 million.
Having sold two further businesses in 2020, the Group’s working capital requirement was
Alpaca, a commission-free stock brokerage platform that offers APIs for fintech apps to connect and trade in US stocks, has closed a USD50 million Series B on the heels of driving 1500 per vcent year to date growth in brokerage accounts and expanding partnerships across Europe, Southeast Asia, Africa, North and Latin Americas.
ZEDRA has appointed Murjel Breedveld Jagesser as Client Director in Luxembourg’s Corporate Services and Global Expansion team alongside Charles-Alexandre Houillon as Director of Fund Management Services.
KKR and Salesforce Ventures have invested USD62 million in a Series B round for Copenhagen-based, no-code software test automation platform Leapwork, to accelerate its global expansion.
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