Key Takeaways
- • Aldaron closed its oversubscribed debut fund at its hard cap, raising $950 million in total commitments for a strategy focused on control investments in businesses and embedded AI engineering teams.
- • Mubadala Capital agreed to acquire a strategic minority interest in LSV Advisors, a manager of about $5 billion in assets and commitments focused on GP-led, single-asset continuation vehicles in the middle market.
- • Gladstone Investment Corporation acquired a majority stake in McFarlane Toys, a designer and distributor of licensed collectible action figures.
- • Craveworthy Brands agreed to acquire New England Authentic Eats, parent of Papa Gino's Pizzeria, with plans to roll out its Wing It On! brand across Papa Gino's locations.
- • Several exits changed hands during the week, including Grant Avenue's sale of Ovation Healthcare to nonprofit Parkview Health and Quad-C's sale of Boulder Scientific to Iron Path Capital.
Summary
ACG's weekly PE roundup for November 6-12 covered a mix of platform investments, add-ons, strategic deals, exits and fundraising. The most significant capital-raising event was Aldaron's closing of its debut fund at the hard cap, with $950 million in total commitments. The transformation equity firm's Fund I targets control investments in businesses and embedded AI engineering teams that develop and implement technology for portfolio companies.
On the strategic side, Mubadala Capital, the alternative asset management subsidiary of Mubadala Investment Company, agreed to acquire a strategic minority interest in LSV Advisors. LSV focuses on GP-led, single-asset continuation vehicles in the middle market and manages about $5 billion in assets and commitments. The investment adds dedicated GP-led secondaries capabilities to Mubadala Capital's strategic partnerships platform.
In platform investments, Gladstone Investment Corporation acquired a majority stake in McFarlane Toys, a designer, producer and distributor of licensed collectible action figures. Marlin Equity Partners made a strategic growth investment in Insight Assurance, marking the provider of independent cybersecurity audit and assurance services' first institutional capital. Broadwing Capital acquired Supply Side, a distributor of packaging materials and hardware to self-storage and parcel-shipping operators, as the launchpad for its specialty distribution platform. Thompson Street Capital Partners completed a growth investment in Kinneberg Management Group, a retail commerce enablement provider, and H.I.G. Capital agreed to acquire a majority stake in go asia, a German-based Asian food retail chain whose founding family will retain ownership.
Among exits, Grant Avenue Capital completed the sale of Ovation Healthcare to nonprofit Parkview Health; Grant Avenue had first acquired the company in 2021 through a carve-out from Quorum Health Corporation. Iron Path Capital acquired Boulder Scientific Company from Quad-C Management, and LLCP acquired Five Star Franchising, a home-services franchisor with eight brands and more than 870 locations, from Princeton Equity Group. DFW Capital Partners acquired American Equipment Solutions from Rotunda Capital Partners, which had first acquired the company in 2021. Coalesce Capital-backed Marshall & Stevens also acquired Baumann Moreau, expanding its litigation support practice in Florida.
On the strategic side, Mubadala Capital, the alternative asset management subsidiary of Mubadala Investment Company, agreed to acquire a strategic minority interest in LSV Advisors. LSV focuses on GP-led, single-asset continuation vehicles in the middle market and manages about $5 billion in assets and commitments. The investment adds dedicated GP-led secondaries capabilities to Mubadala Capital's strategic partnerships platform.
In platform investments, Gladstone Investment Corporation acquired a majority stake in McFarlane Toys, a designer, producer and distributor of licensed collectible action figures. Marlin Equity Partners made a strategic growth investment in Insight Assurance, marking the provider of independent cybersecurity audit and assurance services' first institutional capital. Broadwing Capital acquired Supply Side, a distributor of packaging materials and hardware to self-storage and parcel-shipping operators, as the launchpad for its specialty distribution platform. Thompson Street Capital Partners completed a growth investment in Kinneberg Management Group, a retail commerce enablement provider, and H.I.G. Capital agreed to acquire a majority stake in go asia, a German-based Asian food retail chain whose founding family will retain ownership.
Among exits, Grant Avenue Capital completed the sale of Ovation Healthcare to nonprofit Parkview Health; Grant Avenue had first acquired the company in 2021 through a carve-out from Quorum Health Corporation. Iron Path Capital acquired Boulder Scientific Company from Quad-C Management, and LLCP acquired Five Star Franchising, a home-services franchisor with eight brands and more than 870 locations, from Princeton Equity Group. DFW Capital Partners acquired American Equipment Solutions from Rotunda Capital Partners, which had first acquired the company in 2021. Coalesce Capital-backed Marshall & Stevens also acquired Baumann Moreau, expanding its litigation support practice in Florida.
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