M&A wrap: Riverside, TA Associates, Genstar, OEP, Clearlake, Ridgemont

theriversidecoceos2019

The Riverside Co., which won Mergers & Acquisitions’ 2018 M&A Mid-Market Award for Private Equity Seller of the Year for many exits, including the December sale of DPA Microphones to RCF Group, continues its prolific dealmaking in 2019. The firm recently invested in: ADA Solutions, a maker of safety products for the visually impaired; rum maker E&A Scheer; and education and training services provider Praetorian Digital. Riverside, led by co-CEOs Béla Szigethy and Stewart Kohl, has made more than 600 investments since it was founded in 1988. The firm focuses on investing in businesses valued at up to $400 million.

Riverside ranked among the top private equity firms compiled by PitchBook, based on volume of completed deals in 2018. Check out Mergers & Acquisitions' profiles of 21 firms that led the league tables. Top private equity firms: Genstar, Audax, HarbourVest and more.

Also see: Top investment banks in PE-backed deals: KPMG, Houlihan, GS, William Blair.

DEAL NEWS
TA Associates has made a minority investment in Indira IVF, an India-based infertility treatment provider. Advisors to TA include: KPMG and Pioneer Legal. The target was advised by Veritas Legal.

Genstar Capital-backed Pretium Packaging has acquired Olcott Plastics, a supplier of packaging products to the beauty and healthcare sectors. P&M Corporate Finance advised Olcott.

Wells Enterprises Inc. has acquired ice cream products maker Fieldbrook Foods from Arbor Investments. Advisors to Wells include: UBS Investment Bank and McDermott Will & Emery.

Encore Consumer Capital has invested in Tourtellot & Co., a distributor of fresh produce to grocery stores.

One Equity Partners-backed PS Logistics has bought truckload carrier Celadon Logistics Services from Celadon Group.

Clearlake Capital Group and SkyKnight Capital-backed healthcare Software-as-a-Service company Symplr has acquired Intellisoft. The target is a provider of enrollment and contract management software. Earlier in 2019, Symplr bought API Healthcare.

Ridgemont Equity Partners has acquired Munch's Supply, a supplier of HVAC equipment, from Rotunda Capital Partners. The advisor to Rotunda was Lincoln International.

Ultra Clean Holdings Inc. (Nasdaq: UCTT) has purchased Dynamic Manufacturing Solutions, a semiconductor weldment and services provider. Advisors to UCT include: Needham & Co. and Davis Polk & Wardwell.

Merit Capital Partners has bought precision machined parts maker Microprecision and bird feeder maker Classic Brands.

New Mountain Capital has purchased ACETO Corp.'s chemicals business assets. Ropes & Gray advised New Mountain.

Crafco has acquired Telfer Pavement Technologies, a construction supply center.

Hayfin Capital Management has launched its first U.S. CLO in a year, a $500 million offering of loans and notes offering collateralized by broadly syndicated leveraged loans. Hayfin Kingsland X, as the deal is dubbed, will have a four-year reinvestment period for the manager to buy and sell loan assets in efforts to maintain or improve credit metrics in the transaction. It is non-callable for four years. Read the full story: Hayfin printing its first U.S. CLO of 2019 in $500M transaction.

PEOPLE MOVES
Goodarz Agahi was hired by law firm K&L Gates as a partner. Previously with Baker & Hostetler, Agahi concentrates on M&A across the consumer, food and beverage, medical devices, pharmaceutical and technology sectors.

Timothy Alden has joined financial advisory firm Macquarie Capital as a managing director and co-head of the firm's aerospace, defense and government services group. He was previously with Jefferies.

Mark Buchanan was hired by Macquarie Capital as a managing director and head of North American family office coverage. Buchanan was most recently with BMO Financial Group.

Carlo Caponi was hired by investment bank PJ Solomon as a general counsel, where he is overseeing all of the firm's legal matters. Caponi was most recently with Jefferies.

Allison Dukes’ long career at SunTrust Banks in Atlanta will end later this year after the bank completes its merger with BB&T. SunTrust said in a regulatory filing Friday that Dukes, its chief financial officer, plans to “pursue other opportunities” after the merger closes in the third or fourth quarter so that she can remain in Atlanta, where she is actively involved with a number of civic and philanthropic organizations. Read the full story: SunTrust CFO to depart following merger with BB&T.

James Fitzsimmons has joined law firm Drinker Biddle & Reath as a partner. He was most recently with Budd Larner, and focuses on private equity and M&A.

Pooja Goyal was hired by the Carlyle Group (Nasdaq: CG) as a partner and head of the firm's renewable and sustainable energy team. She was most recently with Goldman Sachs (NYSE: GS).

William Gress was hired by Core Industrial Partners-backed Prototek Sheetmetal Fabrication as CEO. Gress is a former executive at Brunswick Corp. (NYSE: BC).

Milton Kahn has been promoted to chief operating officer at middle-market investment bank DAK Group. Kahn joined DAK in 2017 as a principal.

Travis Keller was hired by M/C Partners, a private equity firm that focuses on telecommunications and information technology, as a partner. He was most recently with Altman, Vilandrie & Co.

Dan Mendelson has joined healthcare and technology-focused PE firm Welsh, Carson, Anderson & Stowe as an operating partner. He was previously the CEO of Avalere Health.

Jane Scobie was hired by law firm Willkie Farr & Gallagher LLP as a partner. She was most recently with Dechert, and concentrates on tax matters related to private equity and M&A.

Tess Sprechman has joined private equity firm AE Industrial Partners as vice president, head of investor relations. She was most recently with Sun Capital Partners.

Mary Courtney-O'Sullivan was hired by investment firm Palladin Consumer Retail Partners as chief financial officer and chief compliance officer. She was previously with Advent International.

Timothy Wentink was hired by lender Twin Brook Capital Partners as a managing director, where he is concentrating on healthcare lending. Wentink was previously with Madison Capital.

Mike Wollatt has joined alternative investment firm Hamiltin Lane (Nasdaq: HLNE) as a principal, where he is leading the firm's new Toronto office. Wollatt was most recently with Omers.

Shingo Yatsui was hired by financial advisory firm BTIG as a managing director and head of cross-border M&A. He was previously with GCA.

FEATURED CONTENT
Excelled. Innovated. Inspired. That’s what the eight winners of Mergers & Acquisitions’ 12th Annual M&A Mid-Market Awards did in 2018. Our awards honor the leading dealmakers and deals that set the standard for transactions in the middle market. In addition to Nike, award winners include: Nike, Fortive, TA Associates, the Riverside Co., Harris Williams, Monroe Capital, Goodwin and Luminate Capital Partners' Hollie Haynes. Read our full coverage: Meet the winners of the M&A Mid-Market Awards: Nike, Fortive, TA, Harris Williams.

Related: Read more about Mergers & Acquisitions' three annual special reports, including the M&A Mid-Market Awards, the Rising Stars of Private Equity, and the Most Influential Women in Mid-Market M&A.

Genstar Capital, Audax, HarbourVest ranked as the top U.S. private equity firms of 2018, based on volume of completed deals, according to PitchBook. Check out Mergers & Acquisitions' profiles of 21 firms that led the league tables. Top private equity firms: Genstar, Audax, HarbourVest and more

Also see: Top investment banks in PE-backed deals: KPMG, Houlihan, GS, William Blair.

Technology permeates dealmaking today. “Tech is, more or less, touching everything,” as the authors of The 2019 BDO Technology Outlook Survey put it. You can see the impact of tech throughout the 2018 winners of Mergers & Acquisitions’ M&A Mid-Market Awardsespecially: Luminate Capital Partners founder Hollie Hayne’s scoring Dealmaker of the Yearfor raising a second fund to invest in enterprise software companies; and TA Associates’ winning Private Equity Firm of the Year for investing a record $2.8 billion in new portfolio companies, most of which are infused with technology one way or the other.

Related: Why private equity firms still love technology
Related: 10 private equity firms share strategies for tech M&A.

Mergers & Acquisitions has named 36 leaders the 2019 Most Influential Women in Mid-Market M&A, including Kainos Capital's Sarah Bradley, Kayne Anderson Capital Advisors' Nishita Cummings and Pelham S2K Managers' Venita Fields. All 36 are outstanding dealmakers both inside and outside of their firms. This year, we asked the featured dealmakers to tell their own stories through Q&As, including their advice for women. Related: Meet the 2019 Most Influential Women in Mid-Market M&A.

EVENTS
ACG Boston hosts a 40th Anniversary Celebration and inaugural awards reception at the Boston Harbor Hotel's Wharf Room on April 24.

InterGrowth 2019 takes place May 6-8 at the Waldorf Astoria & Hilton Bonnet Creek in Orlando, Florida.

Innovation Works holds its second annual AI/Robotics Venture Fair in Pittsburgh May 15-16.

ACG Chicago hosts the Midwest Capital Connection, at The Marriott Downtown Magnificent Mile, May 21-22.

ACG New York, ACG Boston and ACG Philadlephia are holding the Industrial Conference with Value Creation at the Infor in New York on June 6. The event is part of the Northeast Industry Tour.

ACG Minnesota hosts the The Upper Midwest ACG Capital Connection at the Renaissance Minneapolis Hotel, The Depot, June 10-11.

ACG Boston brings together 700-plus dealmakers for DealFest Northeast and DealSource Select 2019 at the Cyclorama & The State Room, June 12-13.

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