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Olympus Continues the Build of MEI Rigging & Crating
- MEI Rigging & Crating, a portfolio company of Olympus Partners, has acquired Northeast Riggers.
- MEI Rigging & Crating is a provider of industrial services including rigging and machinery moving.
- Northeast Riggers is a provider of equipment rigging, relocation, and specialized services.
- MEI Rigging & Crating now operates across 21 facilities in 17 states with the addition of Northeast Riggers.
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Linden Closes $400 Million Structured Capital Fund
- Linden Capital Partners has closed its second structured capital fund, Linden Structured Capital Fund II LP, with $400 million in capital commitments.
- Limited partners in SCF II include both new and returning investors from the United States, Europe, Asia, and the Middle East.
- SCF II invests in middle-market healthcare companies and has already completed eight investments in various healthcare sectors.
- Linden Capital Partners is focused exclusively on leveraged buyouts in the healthcare and life science industries.
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Funded
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Image Credit: Funded
From Failure to $1M: How to Revive the Business Start-up in 6 Months
- Identify the root causes of failure, such as poor market demand, ineffective marketing, cash flow issues, weak customer engagement, and lack of a unique value proposition.
- Consider pivoting your business model by changing product or service offerings, targeting a new market, or adjusting pricing strategies.
- Rebuild your brand and online presence by investing in a professional website, SEO-optimized content marketing, active social media engagement, and paid advertising.
- Implement a high-conversion sales funnel that includes driving traffic, capturing leads, offering testimonials and promotions, and closing sales with a strong call-to-action.
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Peprofessional
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New State Exits MakoRabco
- New State Capital Partners has sold its portfolio company MakoRabco to Trachte Building Systems.
- MakoRabco is a national provider of self-storage construction services and offers site planning, installation, and customization for various steel buildings.
- The acquisition combines MakoRabco's customer service and design expertise with Trachte's strength in self-storage design and manufacturing.
- Trachte Building Systems, a designer and manufacturer of steel buildings, will leverage MakoRabco's reputation and execution capabilities to better serve the self-storage industry.
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Peprofessional
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KPS Carves Composites Business from INEOS
- Private equity firm KPS Capital Partners acquires INEOS Composites business for $1.8 billion.
- The INEOS Composites business is renamed Alta Performance Materials.
- Alta Performance Materials specializes in manufacturing composite resins used in various industries.
- KPS Capital Partners aims to drive profitability and create an entrepreneurial culture centered on innovation in collaboration with the Alta Performance Materials team.
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Peprofessional
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Granite Creek Continues Agribusiness Focus
- Granite Creek Capital Partners has acquired Ritchie Industries, a maker of automated livestock watering systems.
- Ritchie's product lines include the OmniFount series, EcoFount, and StallFount, catering to various sectors including beef, dairy, equine, and small livestock.
- Ritchie's products are used by ranchers, dairy farmers, equestrian facilities, and hobby farms across the United States and internationally.
- Granite Creek's recent investment in Ritchie Industries aligns with their focus on investments in the agribusiness sector.
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Peprofessional
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RCP Banks New $170 Million
- RCP Advisors has closed RCP Small and Emerging Fund III LP with $170 million in capital commitments.
- Limited partners in the fund include family offices, insurance companies, and high-net-worth individuals.
- The fund will focus on investing in North American buyout fund managers raising second institutional funds or earlier.
- RCP Advisors also invests in single asset and portfolio secondary transactions and makes direct co-investments in partnership with North American-based lower middle market private equity firms.
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Teten
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The Legal Issues You Need to Nail Down for Your New Private Equity or VC Fund
- As you establish a private equity or venture capital fund, ensure key formation documents are in place for the general partner entity (GP Entity) and the management company entity (ManCo Entity), addressing profit-sharing, legal, and tax obligations.
- Key agreements govern economic issues such as carried interest distribution, GP capital commitment, management fee income, and salary allocations among co-partners.
- Management of team changes, succession planning, investment decisions, hiring/firing, and operational decisions are crucial for fund success.
- Restrictive covenants like non-compete agreements and investment opportunity allocation need careful consideration to protect fund interests.
- Dispute resolution mechanisms, non-compete clauses, carried interest vesting schedules, and fund track record attribution should be meticulously defined to avoid conflicts.
- Understanding economic, control, and covenant issues will help foster strong partnerships and ensure alignment with fund goals and investor interests.
- Properly structured agreements and adherence to best practices in fund formation can lead to successful outcomes for fund managers, co-partners, and investors.
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Guardian
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Image Credit: Guardian
The barbarians are at the gates of the sewage works | Nils Pratley
- Private equity firm KKR chosen as preferred bidder for Thames Water, UK's biggest water company.
- KKR plans to invest £4bn in equity to take control of Thames Water, but details about ownership and business plan remain unclear.
- Selection of KKR may be based on its proposal for smaller haircuts for Thames Water's senior bondholders.
- Concerns raised about the lack of transparency and protection of customer interests in the deal.
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Guardian
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Image Credit: Guardian
Thames Water names US private equity group KKR as preferred bidder
- Thames Water has chosen KKR as the preferred bidder for equity funding.
- Thames Water, struggling under a debt pile of £20bn, aims to secure fresh equity funding.
- KKR is expected to acquire a stake in Thames worth £4bn.
- Thames Water's future is under scrutiny due to concerns over its ageing assets.
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