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Allied Closes Inaugural $300 Million Fund
- Allied Industrial Partners (AIP) closes its inaugural $300 million fund, Allied Industrial Partners I-A and I-B LP (Fund I), exceeding its original target of $250 million.
- Institutional investors in Fund I include pensions, insurance companies, and family offices with over 10% funding from Allied's senior team, bringing AIP's total assets under management to over $1 billion.
- The fund will be primarily deployed by the end of 2025 and has already made several investments in high-growth industrial businesses, aiming to drive operational improvements and scale industrial platforms.
- Allied Industrial invests in lower and middle-market companies within sectors such as industrial rentals, manufacturing, distribution, environmental services, and infrastructure, with a focus on creating lasting value and building strong relationships with investors and management teams.
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Amberjack Acquires Industrial Thermal Services
- Amberjack Capital Partners has acquired Industrial Thermal Services, a provider of industrial field services.
- Industrial Thermal Services offers heat treating, bolting, torquing, cold cutting, and hydrostatic testing for industrial sectors including refining, LNG, petrochemical, power generation.
- ITS operates from seven facilities in Texas, Louisiana, Arkansas, and Montana, founded in 2006 by CEO Ryan Aras.
- Amberjack Capital Partners invests $20-75 million in companies with values between $20-175 million, with sectors of interest in industrial products and services, infrastructure, and environmental products.
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AEA Acquires Splash Car Wash from Palladin
- Splash Car Wash, a Northeast US car wash operator and Palladin portfolio company, has been acquired by AEA Investors.
- Splash Car Wash offers various automotive cleaning services and operates from over 65 locations across four states.
- During Palladin's ownership, Splash Car Wash completed six acquisitions and currently washes over one million cars annually.
- The acquisition by AEA Investors signifies a new era for Splash Car Wash, aiming for further growth and expansion in the car wash industry.
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Escalate Closes Fifth Fund at $350 Million
- Escalate Capital Partners closes its fifth fund, Escalate Capital V LP, with $350 million in committed capital.
- Limited partners in Fund V include J.P. Morgan Investment Management, TD Bank, Cadence Bank, Regions Bank, and Truist Community Capital.
- Fund V enables Escalate to continue supporting transformative companies in critical growth industries with flexible capital solutions and a collaborative long-term approach.
- Escalate focuses on investing in rapidly growing later-stage companies with minimum revenues of $20 million and minimum EBITDA of $3 million across sectors like technology, software, services, and healthcare in the United States.
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Top 10 Smart Ways to Raise Start-Up Capital Without a Loan
- Starting a business without falling into debt is achievable through smart alternative ways to raise start-up capital without loans, helping maintain control and focus on growth.
- Bootstrapping, using personal savings, crowdfunding platforms like Kickstarter and Indiegogo, and pitching to angel investors are effective methods to secure funding.
- Strategic partnerships, equity swaps, grants, pre-sales, advance orders, business competitions, family and friends funding, bartering skills/services, and incubators/accelerators are additional avenues for capital.
- By leveraging these methods, entrepreneurs can avoid the pitfalls of traditional loans and foster sustainable growth and financial freedom in their start-up ventures.
- Each funding approach comes with its own set of pros and cons, requiring entrepreneurs to carefully evaluate what aligns best with their business goals and financial situation.
- Maintaining transparency, setting realistic expectations, and seeking professional agreements are essential when engaging in family and friends funding or bartering for services.
- Utilizing resources like grants, crowdfunding, and partnerships can not only provide financial backing but also offer valuable mentorship, legal support, and networking opportunities.
- The key to success lies in choosing the right funding mix, staying lean and strategic, and navigating the entrepreneurial journey without being burdened by debt.
- By following practical tips and utilizing available tools, entrepreneurs can establish loan-free start-ups and embark on their business ventures with confidence and financial stability.
- Funded.com offers a platform connecting entrepreneurs with Angel Investors, Venture Capital, or Lenders, providing professional assistance in business plan writing and funding acquisition.
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Nationalise gas power plants to boost energy security, thinktank urges UK ministers
- A thinktank has urged UK ministers to nationalize gas power plants to boost energy security and prevent owners from holding the electricity market 'to ransom'.
- The thinktank, Common Wealth, suggests that nationalization could prevent owners from demanding high fees to run the plants when renewable energy is in short supply.
- Privately owned gas-fired power plants exploit a unique market power position, according to the thinktank, and British households are effectively transferring their wealth to private equity funds and foreign governments.
- Common Wealth also calls on the government to create a strategic reserve of gas power stations to act as a last resort during high electricity demand, while the UK shifts towards clean power by 2030.
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RedBird Capital confident of tabling a deal to take control of Telegraph
- US private equity firm RedBird Capital is confident of tabling a deal to take control of the Daily and Sunday Telegraph next month to end 'paralysis and unhappiness' at the 170-year-old titles.
- The firm's founder, Gerry Cardinale, is involved in drafting a plan to form a consortium or self-fund a takeover at Telegraph Media Group.
- RedBird Capital was part of a joint venture that took control of the group in 2023 but was forced to put the titles up for sale due to a UK law prohibiting foreign ownership of newspaper assets.
- The firm is seeking a buyer willing to pay the £500m investment, with potential interest from parties like Lord Rothermere's DMGT.
- RedBird Capital has conversed with UK parties, including potential suitor DMGT, and has sufficient resources to backstop a deal alone.
- IMI wants to retain an investment in the Telegraph, pending government regulations on foreign ownership, with a possible 10%-15% ownership threshold being considered.
- The ongoing ownership uncertainties have affected staff morale, with RedBird IMI also in talks with potential suitors like Todd Boehly and David Montgomery.
- Various individuals, including Dovid Efune and Lord Saatchi, have shown interest in acquiring the Telegraph newspapers, with the Barclay family's debts leading to the uncertainty over the titles' future.
- The Telegraph's ownership upheaval traces back to the acquisition by the Barclay family in 2004, leading to debts and subsequent control by Lloyds Banking Group.
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Graham Looks to Corner the Cookie Market
- Commercial Bakeries Corporation, owned by Graham Partners, has acquired Hollandia Bakeries, a manufacturer of wire cut and rotary molded cookies.
- The acquisition provides Commercial Bakeries with additional capacity, seasonal product capabilities, and an expanded presence in the Canadian private label baked goods market.
- Commercial Bakeries specializes in specialty, better-for-you, and seasonal baked goods, serving retail grocery chains and private-label brands across North America.
- Graham Partners, a Philadelphia-based private equity firm, focuses on acquiring companies with EBITDA between $5 million and $50 million.
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Align Capital’s StenTech Merges with BlueRing Stencils
- StenTech, a maker of surface mount technology (SMT) stencils and a portfolio company of Align Capital Partners (ACP), has merged with BlueRing Stencils.
- StenTech is the single largest provider of SMT stencils in North America and also offers other tooling products for the electronics manufacturing industry.
- BlueRing Stencils is a maker of laser-cut stencils and nano-coatings for surface mount applications, and provides stencil design and development services.
- The merger between StenTech and BlueRing Stencils strengthens their ability to provide advanced solutions, innovation, and service excellence in precision manufacturing.
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Littlejohn Buys 3P Processing from Spell
- Littlejohn Capital has acquired 3P Processing, a provider of specialized surface finishing and metal processing services for the aerospace sector.
- 3P Processing holds over 20 OEM approvals from companies such as Boeing, Lockheed Martin, and Raytheon Technologies.
- The acquisition is expected to broaden market coverage and drive further growth for 3P Processing.
- KAL Capital served as the financial advisor to 3P Processing on this transaction.
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Show Me the Money! Coral Tree Acquires Innovative Artists
- Coral Tree Partners has closed a minority investment in Innovative Artists Entertainment (IAE), a full-service talent agency.
- Innovative Artists Entertainment represents actors, writers, directors, comedians, and other creative professionals in various sectors of the entertainment industry.
- Coral Tree's investment marks the first-ever institutional investment in IAE, strengthening its growth and focus on client representation.
- Monroe Capital provided senior credit facility for IAE, aligning with its sports, media & entertainment vertical.
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Side Hustles You Can Start Without Quitting Your Day Job
- Having just one income stream might not be enough in today's world.
- Here are 7 ways to make extra income without quitting your day job:
- 1. Start freelancing in your spare time.
- 2. Launch a profitable blog or YouTube channel.
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ALT Sports Data Funded $5M to Expand NXTbets Platform
- ALT Sports Data, an operator of a proprietary trading platform for alternative sports, has secured $5 million in funding.
- The funding, led by Relay Ventures and Eberg Capital, will be used to expand ALT Sports Data's platform, NXTbets.
- NXTbets offers real-time odds and pricing, pre-match and live odds services, and in-play betting markets for alternative sports such as skateboarding, surfing, and motocross.
- The funding will also be used to scale internal operations, improve data infrastructure, and forge new partnerships with sports leagues and sportsbooks.
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Strategic Adhesion: Bertram Capital Adds APPLIED to Portfolio
- Bertram Capital has acquired a majority interest in APPLIED Adhesives, a distributor and formulator of industrial adhesive products, from Arsenal Capital Partners.
- APPLIED Adhesives offers a portfolio of adhesive technologies, related specialty dispensing equipment and parts, and provides installation, maintenance, and integration services.
- APPLIED completed 17 add-on acquisitions in the past four years, expanding its territories, products, and technical capabilities.
- Bertram Capital aims to leverage its operating capabilities and technology team to drive growth, support M&A integration, and improve business efficiencies for APPLIED Adhesives.
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GSTV Sold to MidOcean
- Rockbridge Growth Equity has sold its majority ownership in GSTV to MidOcean Partners. Rockbridge will retain a minority stake in the business.
- GSTV is a national video network operating across fuel and convenience retailers, with partnerships including Chevron, Sunoco, and 7-Eleven. It plays targeted short-form entertainment and advertising content at gas pumps during fueling.
- Customers of GSTV include Fortune 500 advertisers in automotive, consumer packaged goods, and quick-service restaurant sectors. GSTV offers various video and service offerings to attract advertisers and provide analytics.
- Rockbridge Growth Equity invests in e-commerce, marketing services, financial services, fintech, tech-enabled products and services, and digital media. MidOcean Partners invests in North America-based companies and closed its sixth fund with over $1.5 billion of capital.
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