Pacific Power & Sytems Has Completed a Minority Recapitalization and Acquisition Financing With White Wolf Capital
Pacific Power & Systems (“PPS”) is an electrical and specialty services contractor that has served public works, industrial, and renewable energy sectors in the San Francisco Bay Area for over 30 years. Led by Wally Budgell, an industry veteran with over 35 years of industry experience, PPS’ success stems from his proven track-record. PPS approached Cascade Partners about securing growth capital for the acquisition of Millennium Electric, Inc. (“Millennium”), to expand into the quickly growing Florida market, and to support future acquisitions and organic growth. The Cascade Difference PPS’ goal was to secure growth capital to support their buy-and-build strategy within the fragmented electrical contracting space. Given the intricacies of the construction and contracting sector,...
Over 30 years in rural Michigan, Craig Frames grew from a one-room artisan picture frame woodshop into a leading eCommerce picture frame manufacturer and distributor. Operating out of a 70,000 square foot manufacturing facility, the company is now one of the nation’s largest producers of custom picture frames. The owner and founder of Craig Frames approached Cascade Partners about selling his business in 2019 with a goal we’ve heard many times before: find an investment partner that would allow him to enjoy retirement with family and friends, enabling a transition without sacrificing the brand legacy and team built over decades. With management already in place, including family ties, the owner wanted an investor that would seek to partner in, rather than overhaul, the prospering firm....
TRANSACTION OVERVIEW: BullsEye Telecom, Inc. (“BullsEye”), a leading, global provider of multi-location communication solutions, acquired Bandwave Systems, LLC (“Bandwave”), a premier broadband solutions company based in Burlington City, New Jersey. The acquisition significantly expands BullsEye's scale and breadth of broadband expertise and market share. The combination of BullsEye and Bandwave brings together the industry's brightest and best team members to achieve heightened growth while offering one of the most comprehensive telecommunications service offerings in the market. BACKGROUND: With a new CEO in place, BullsEye was set to build on its success by exploring acquisitions as an element to complement its organic growth strategy. Acknowledging that the management team was...
We were introduced to the owners of Grand Flower Growers (“GFG” or the “Company”), a grower and wholesaler of premium annuals, perennials, and other seasonal flowers and plants, in early 2020 to discuss liquidity options. At the time, the Company had grown from a single location selling products through a broker to a leading regional supply partner to The Home Depot in the highly attractive Chicagoland market. The shareholders wanted to understand their strategic options to monetize 20+ years of hard work. With Cascade’s help, the shareholders decided to pursue a sale or recapitalization to achieve their goals. Optimizing Time to Market To optimize the growth through their busy season and benefit from the resurgence in the capital markets, Cascade encouraged the...
Morae Global (Morae) is a full service, integrated provider of services for the legal departments and compliance functions of large corporations and major law firms around the world. Morae has experienced rapid growth since its inception in 2015 and has an aggressive plan to further expand through acquisition. In order to achieve their goals, Morae management knew they needed to find a long-term partner to strengthen their balance sheet position and provide future acquisition financing. Cascade Partners was brought into the conversation due to our prior relationship with the management team, as we previously were engaged by Morae to refinance its working capital line of credit. One of the key factors when identifying a potential debt or equity investor is a long-term partnership fit....
WaterWatch Corporation, a New York-based provider of utility sub-meter billing, payment and installation services to the multifamily housing market, has been acquired by Conservice, based in Utah. The acquisition by Conservice, a portfolio company of TA Associates, will allow WaterWatch customers to benefit from Conservice’s expanded suite of energy procurement, utility payment and cost containment services to further reduce costs, promote energy conservation and encourage environmental sustainability. This deal was unique because our client understood the value of the company they built and, out of an abundance of concern for continued customer satisfaction, was not going to sell to just anyone. We were in full support of our client’s willingness to be patient and wait for the right...
Security Corporation, a leading provider of integrated security systems and services targeted at commercial customers, was acquired by ADT Commercial, a division of ADT. Family-owned for more than 40 years, the acquisition makes ADT a leader in the Michigan and Ohio markets, further strengthening its growing Midwest presence. Cascade Partners served as the exclusive transaction advisor to Security Corporation.
Transdev North America is the largest private sector operator of transportation in North America. The sale will add more than 2,500 vehicles in Baltimore, Dulles airport, Jacksonville, Kansas City, Pittsburgh and West Palm Beach, making WHC Worldwide, LLC one of the largest consumer transportation company in the United States. Cascade Partners was the exclusive financial advisor to Transdev on this transaction.
LSG offers a broad range of insurance, risk management and consulting services and coverages to clients throughout the Midwest and across the United States. The acquisition adds to the scale, geographic reach and multi-channel network Gallagher has built to support their clients as their businesses grow. Additionally, LSG’s clients will have access to an even broader set of resources. Cascade Partners co-advised LSG Partners on this transaction.
Patriot Supply, Inc. d/b/a Capitol Supply and Service (“Capitol Supply”), a Michigan-based building product distribution and HVAC installation and servicing business for the manufactured housing industry has been acquired by Style Crest, Inc. For over 40 years, Capitol Supply has serviced the Michigan market through its five strategically spread locations, allowing it to offer superior customer service and high-quality products to its customer base. The addition of Capitol Supply will strengthen Style Crest’s presence in the Michigan market and allow Style Crest to provide HVAC installation and servicing capabilities to the State. Prior to engaging Cascade Partners, the Company had completed several shareholder buyouts in connection with their retirements and to better position the...
A leading regional insurance broker recapitalized its business. Cascade Partners served as the exclusive advisor to the company.
TCC Wireless, LLC, one of T-Mobile’s largest independent wireless dealers with approximately 145 locations, has secured unitranche financing, including a delayed-draw term, from Brightwood Capital. The funds will be used to recapitalize the business and provide TCC with the flexibility it needs to continue its rapid growth strategy and make additional strategic acquisitions. Cascade Partners served as a financial advisor to TCC Wireless, LLC on this transaction.
Morae Global is a full service, integrated provider of services for the legal departments and compliance functions of large corporations and major law firms around the world. The new financing from White Oak provides improved operating flexibility and capital to support its growth strategy. Cascade Partners served as the exclusive financial advisor to Morae Global on this transaction.
NSF International, a leading provider of auditing, testing and certification services for the dietary supplement, natural product and food industries, has acquired AuthenTechnologies LLC. AuthenTechnologies® provides next generation DNA-based species identification services that improve the authenticity, safety and quality of natural products and other consumer products. The addition of AuthenTechnologies® brings cutting-edge DNA testing to complement NSF’s audit, certification and validation of dietary supplement, botanicals, natural product and food clients.Cascade Partners serves as the exclusive financial advisor to NSF International.
NSF International (www.nsf.org), is a world leader in standards development, product certification, education and risk-management for public health and safety. NSF has made a strategic investment in Trucost PLC., a world-leading environmental research Company, that offers a new standard for environmental measurement and reporting by combining Trucost's patented methodology with NSF's environmental certification and verification services. Seneca Partners serves as the exclusive financial advisor to NSF.
NSF International, a global independent organization that writes standards, tests and certifies products for the food, water, health sciences and consumer goods industries to minimize adverse health effects and protect the environment has acquired Avarent LLC. Avarent offers a wealth of expertise and demonstrated success assisting clients with medical device products/processes development, design control, validation, quality assurance and regulatory compliance. The addition of Avarent expands NSF Health Science Division’s portfolio of services to medical device customers across the globe. Cascade Partners serves as the exclusive financial advisor to NSF International.
Image Data Conversion, LLC, the leading provider of data conversion, preservation, and digital publishing solutions to the library, publishing, government and corporate markets, has acquired NA Publishing, Inc.NA Publishing is the largest provider of periodicals in microfilm and owns the most expansive archive of such content in the world. Cascade Partners served as IDC's exclusive financial advisor and arranged the necessary financing for the transaction.
NWP Services Corporation ("NWP") has acquired Sierra Utility Billing Services, a leading utility billing services company serving multifamily communities. The acquisition reinforces NWP's position as the leading provider of financial transaction processing services to the multi-family housing industry.
NSF International, a global leader in standards development, product certification, management system registration and education for public health and safety, has acquired Becker & Associates Consulting, Inc. Becker & Associates is a leading clinical, regulatory and scientific consulting firm that specializes in FDA-regulated industries. The acquisition is part of NSF's ongoing strategy to provide comprehensive service offerings to its Health Sciences clients. Cascade Partners serves as the exclusive financial advisor to NSF.
Surefish is the leading seafood quality specialist and provider of seafood inspections and expert consultation, serving global customers. Together, NSF International, the dominant global food safety organization, and Surefish, the North American leader in Marine Stewardship Council Chain of Custody Certifications, will assist processors and retailers to improve the safety, quality and sustainability of the global seafood supply chain. This acquisition is part of NSF International's strategy to build its global position as the leading food safety and quality specialist. Seneca Partners serves as the exclusive financial partner to NSF International.
NSF International, a global leader in standards development, product certification, management system registration and education for public health and safety, has acquired the Inassa Group based in Lima, Peru. The Inassa Group, which consists of International Analytical Services S.A.C., Environmental Laboratories Peru S.A.C. and Servicios Integrales de Saneamiento S.A.C., is a leader in the Peruvian market for analytical testing, certification, inspection and training for the food, water and health sciences industries. The acquisition is part of NSF's ongoing strategy to expand its presence in Latin America. Cascade Partners serves as the exclusive financial advisor to NSF International.
Seneca Health Partners has acquired RedPath
Seneca Health Partners has made an equity investment in Critical Signal Technologies
Seneca has made an equity investment in SeQual
Plymouth Venture Partners has made a subordinated debt investment in Knox Lawrence International
Seneca Health Partners has made an equity investment in SynCardia
NSF International has acquired Institut Dr. Erdmann GmbH, doing business as Erdmann Analytics, based in Rheda-Wiedenbrück, Germany. Erdman Analytics provides a broad range of the most advanced laboratory testing and validation services to the food and pharmaceutical industries. This acquisition expands NSF’s global laboratory network and provides local support to serve the European needs of its global customers. Cascade Partners serves as the exclusive financial advisor to NSF International.
Providence Group, Inc. closed a senior debt facility to refinance existing indebtedness, facilitate growth and make strategic acquisitions. Providence Group, Inc., based in National City, CA, operates and manages skilled nursing facilities, assisted living facilities, home health and hospice agencies across the United States.
Eclipsys has acquired Sysware
IPS has merged with MeterTek
TRANSACTION OVERVIEW: Digestive Health Institute (“DHI”) d/b/a Michigan Gastroenterology Institute, Capitol Colorectal Surgery, and Greater Lansing Anesthesia Services, the leading gastroenterology and colorectal health services provider in mid-Michigan, has merged into Pinnacle GI Partners, a portfolio company of H.I.G. Growth Partners. The combination creates the largest provider of gastroenterology and related services in Michigan, with 24 physicians serving 20 locations. BACKGROUND: Like so many providers, the shareholders of Michigan Gastroenterology Institute (“MGI”) recognized that the cost and complications of running a healthcare business are increasing every year. Increased regulation, pressure on reimbursement and a dwindling pool of physicians presented new...
Michigan Eye Institute, P.C. “MEI”, a leading full-service eye care practice providing service throughout Central/Mid-Michigan, has merged with Midwest Vision Partners “MVP”. This partnership expands MVP’s network to 25 locations across Michigan and Ohio with 45 physicians providing medical and surgical eye care services. This transaction allows MEI to accelerate its growth and serve a broader patient base. Over the past 28 years, MEI has built a reputation as a high-quality provider of eye care services delivered in a caring, personal and professional manner. Our client's top priority was to find a partner that shared this passion and commitment to high-quality patient care. MEI found that partner in MVP and will serve as the anchor practice for MVP in Michigan. After running a...
Amarex Clinical Research (“Amarex”), a Washington DC-based contract research organization (“CRO”), has sold a majority interest to NSF International. Since 1998, Amarex has helped pharmaceutical, biotechnology, and medical device companies design, manage, and conduct clinical trials and navigate regulatory complexities around the globe. The addition of Amarex strengthens NSF’s global CRO and regulatory capabilities to better serve pharmaceutical, biotech, and medical device companies in their efforts to develop products and services that will protect and improve human health. Prior to engaging Cascade Partners in late 2015, Amarex had experienced a period of rapid growth, which led to the decision to explore potential partners who could continue to drive the business to new...
Remington Products Company Acquired by Gridiron Capital Remington Products Company, the leading US specialty designer and manufacturer of branded and private label orthotics, has been acquired by Gridiron Capital, a leading middle-market private equity firm. Prior to engaging Cascade Partners, Remington received a compelling, unsolicited offer from a New York-based private equity firm. They struggled between accepting the offer and checking the market to ensure they were getting the right value. The company, being an ESOP, was focused on getting an attractive price for the business and partnering with the right team to build on their history of success. They nearly accepted the unsolicited offer, concerned about confidentiality issues if a full sales process was pursued. They also...
Quaker Chemical Corporation (NYSE: KWR) has acquired Lubricor Inc., a manufacturer and marketer of metalworking fluids based in Waterloo, Ontario. Lubricor sells branded products directly to its North American customers, primarily automotive suppliers, and into Southeast Asia through a distributor relationship in Thailand. Cascade Partners and Amherst Partners served as the financial advisors to Quaker Chemical Corporation on the transaction.
Seneca Health Partners has made an equity investment in MedVantx
NSF International, a global public health and safety organization, acquired Prosystem AG, a German-based medical device consulting firm specializing in regulatory affairs and clinical evaluation. The acquisition expands NSF International’s medical device business in Europe and positions the company to meet an increasing demand for medical device consulting, education and training services in the EU. The Prosystem acquisition enhances NSF’s service offerings with the addition of medical device clinical evaluation, standards design and software development capabilities. Cascade Partners serves as the exclusive financial advisor to NSF International.
Northwest Eye is one of the largest specialty care providers in the upper Midwest, providing leading comprehensive ophthalmic services across eight clinical locations. The partnership will accelerate their growth trajectory and expand their footprint in the upper Midwest. Click here to read the full press release. Dr. Timothy J. Ehlen: Northwest Eye Clinic is an established, well-respected ophthalmology practice in Minneapolis, Minnesota. We've been around for 45 years, started by two doctors, and we've grown to over 19. We are able to see nearly 100,000 patients a year. Looking for that next step, just because of our size, became a challenge. John S. Berestka: When we first started this process, we were not all on board. It was a very contentious 5-4 vote among the partners to even look...
Surgere Secures Growth Capital Investment from Cypress Growth Capital Surgere, the global industry leader in visibility and control for automotive supply chains, has secured a growth capital investment from Cypress Growth Capital. Based in Green, Ohio, Surgere’s platform enables OEMs and their suppliers to operate in a single supply chain data ecosystem. The financing preserved the family’s equity and will fuel the business’ long term growth. William Wappler (00:03): I'm Will Wappler. I am the president and CEO of Surgere. Surgere is a technology company. We understand the science of sensors, or data collection technology, perhaps better than anyone else in the world. I don't believe that Surgere is unique or unusual as a entrepreneurial company. We may have a growth that a...
Cascade Growth Partners has recapitalized its investment in Medbio, Inc., a leading outsource manufacturer offering innovative design and engineering, manufacturing, assembly and packaging solutions serving the medical and automotive industries. With the support of its new majority owner, Graham Partners, the Company is positioned to accelerate its growth. Through its affiliates, Cascade Growth Partners remains an investor in the long-term success of Medbio. Cascade Growth Partners served as the exclusive financial advisor to Medbio, Inc. on this transaction.
Kalamazoo Emergency Associates (KEA), a leading physician owned emergency medicine group serving multiple Emergency Departments throughout Southwest Michigan, was acquired by American Physician Partners. APP is a leader in emergency medicine and hospital medicine management services. The partnership will expand American Physician Partners' Michigan presence while enabling KEA to strengthen their services to a growing number of hospitals in Southwest Michigan. Cascade Partners served as the exclusive financial advisor to Kalamazoo Emergency Associates on this transaction.
Equipment Maintenance Solutions, LLC (EMS), has partnered with Avante Health Solutions, a portfolio company of Jordan Industries. Based in Ferndale, Michigan, EMS provides MRI and CT field-based maintenance and repair services, equipment sales, parts and rentals. The partnership significantly expands the company’s capabilities in diagnostic imaging, radiation oncology, medical/surgical and other parts of the healthcare continuum. Avante’s national footprint and financial strength will enable EMS to offer their clients and partners a more comprehensive solution while also accelerating the company’s growth. Cascade Partners served as a financial advisor to EMS on this transaction.
Mason Structural Steel Acquired by Daboosh Investments Mason Structural Steel, of Northfield, Ohio has been acquired by Daboosh Investments LLC. Mason Structural Steel provides masonry, hearth, and outdoor living building products, as well as commercial and residential structural steel fabrication and erecting services. Selling to a local Cleveland family continues a 60 year tradition of family ownership supplying on demand building products combined with exceptional customer service and support. The new ownership looks forward to the continued success and growth of Mason. Cascade Partners served as the exclusive financial advisor to Mason Structural Steel on this transaction. Keith Polster (00:02): Mason Structural Steel fabricates and erects structural steel in the Cleveland...
Grand Rapids Ophthalmology has partnered with Sterling Partners Sterling Partners has partnered with Grand Rapids Ophthalmology (GRO), based in Grand Rapids, Michigan. GRO is a leading integrated eye care provider offering ophthalmology, optometry, and retail services. Sterling Partners is a private investment firm focused on partnering with healthcare services, education, and business services firms. GRO represents Sterling Partners’ platform investment in the consolidating eye care market. Cascade Partners served as the exclusive financial advisor to Grand Rapids Ophthalmology on the transaction. Bob Wolford (00:02): My name is Bob Wolford, and I'm the Executive Director for Grand Rapids Ophthalmology. I joined Grand Rapids Ophthalmology in 1985 when the practice was four doctors in a...
DeGarA, PLLC has merged with American Physician Partners. DeGarA is a physician owned Emergency Medicine Group providing service in multiple Emergency Departments throughout Michigan. American Physician Partners is a medical service organization serving the needs of hospital-based companies and hospitals throughout the United States. The combination will provide American Physician Partners a stronger presence in Michigan while allowing DeGarA to accelerate its ability to serve more parties in Michigan. Cascade Partners serves as the exclusive financial advisor to DeGarA, PLLC.
NSF International, a global provider of auditing, testing and certification services for the dietary supplement, natural product and food industries, has acquired Belgium based Euro Consultants Group (ECG). ECG is a leading provider of consulting and audit services to the food industry including retailers, caterers and producers in Europe, the Middle East and Africa. The acquisition expands NSF's services to its multinational retail, food service and restaurant clients operating in Europe, the Middle East and Africa. It also provides ECG's customers with access to NSF's expanded testing, training and educational services, and supply chain food safety and quality management expertise. Cascade Partners serves as the exclusive financial advisor to NSF International.
Link Tool & Manufacturing, a leading manufacturer of precision steel, carbide and ceramic tooling, primarily utilized in cold heading and other metal forming processes, has been acquired by PennEngineering & Manufacturing Corporation. PennEngineering, a portfolio company of Tinicum Incorporated, is a global leader in engineered fastening solutions. The acquisition of Link expands PennEngineering’s capabilities as a supplier of precision tooling solutions to multiple end markets. Cascade Partners served as the exclusive financial advisor to Link Tool & Manufacturing.
BarFly Ventures Raised Capital From Congruent Investment Partners and Main Street Capital Corporation
BarFly Ventures has secured a $25 million investment from Congruent Investment Partners and Main Street Capital Corporation (NYSE: MAIN). BarFly Ventures is the parent company of HopCat, Stella's Lounge, Grand Rapids Brewing Co. and McFadden's of Grand Rapids. The investment comes in the form of both equity and cash flow- based debt and will be utilized to expand the HopCat brand. Cascade Partners served as the exclusive financial advisor to BarFly Ventures on the transaction.
Emergency Medicine Specialists (EMS) and its affiliated revenue cycle and back-office management entity, Midwest Emergency Services (MES), has merged with TeamHealth Holdings, Inc. (NYSE: TMH). EMS is the oldest emergency medicine physician group in Michigan and its 130 physicians manage and staff eight emergency departments throughout the state. TeamHealth is one of the largest providers of outsourced physician staffing solutions for hospitals in the United States. This merger will allow EMS and MES to better serve their staff, hospital partners, patients and their families. Cascade Partners LLC served as the exclusive financial advisor to EMS/MES on the transaction.
NSF International has acquired the laboratory operations of Jana Laboratories Inc., located in Aurora, Ontario, Canada. This acquisition expands NSF’s global water testing capability by adding the world’s largest oxidative resistance stress testing system, as well as, significant hydrostatic performance stress testing capacity. These capabilities, along with NSF’s existing global laboratory presence, combine to make NSF one of the leading providers of performance testing and certification services for the global plastic pipe industry. Cascade Partners served as the financial advisor to NSF International in this transaction.