Private Equity deals handpicked by our team to have longevity, strong fundamentals, an intelligent executive team, and growth-oriented investors. Text is aggregated from various press release news sources, released by the acquiring firms.
If you're looking at the future of each respective industry, these are the companies to pay attention to. If you're a functional expert looking to get involved with mature startups like the ones listed below, get in touch to see if you're a fit to join our Flywheel.
Lowe's Companies, Inc. (NYSE: LOW) today announced that it has entered into a definitive agreement to sell its Canadian retail business to Sycamore Partners, a private equity firm specializing in retail, consumer and distribution-related investments, for $400 million in cash, and performance-based deferred consideration.
"The sale of our Canadian retail business is an important step toward simplifying the Lowe's business model. While this business represents approximately 7% of our full year 2022 sales outlook, it also represents approximately 60 basis points of dilution on our full year 2022 operating margin outlook," said Marvin R. Ellison, Lowe's chairman, president and CEO.
"We are honored to partner with Lowe's to establish Lowe's Canada and RONA as a standalone company headquartered in Boucherville, Quebec," said Stefan Kaluzny, Managing Director of Sycamore Partners. "We look forward to working with the company's management team to build on its 83-year history as a leading Canadian home improvement business serving families, builders, and contractors in their communities across the country."
Wasserman (“Wasserman” or “the Company”), a global sports, music and culture agency, today announced a strategic investment from Providence Equity Partners (“Providence”), a premier private equity firm specializing in growth-oriented investments in media, communications, education and technology. The investment from Providence will be used to provide capital to pursue growth initiatives and to fully redeem RedBird Capital Partners and Madrone Capital Partners, who exit as investors. Wasserman’s Founder, Chairman and CEO Casey Wasserman will continue to retain a controlling ownership stake. Financial terms of the transaction were not disclosed.
Founded in 2002, Wasserman is a partner to the world’s most iconic sports figures, musical artists, brands and properties, operating across six continents, 23 countries and more than 40 cities worldwide. Throughout its 20-year history, Wasserman has deliberately expanded its global presence through both targeted acquisitions and organic growth, with recent advancements including: the launch of Wasserman Music in both North America and the U.K.; a significant investment in post-career services for clients through the acquisition of The Montag Group; a strategic focus on marketing to Gen Z consumers through the acquisition of Riddle & Bloom; and a continued expansion into global sports with the launch of Wasserman Rugby.
Gallant Capital Partners (“Gallant”), a Los Angeles-based investment firm, announced that it has completed a strategic growth investment in Lightning Step, a rapidly-growing enterprise software provider purpose-built for the behavioral health industry. Gallant’s investment was made in partnership with Lightning Step’s CEO Kirk Monroe, Chairman Jamison Monroe, and additional investors and members of management, all of whom collectively remain material owners of Lightning Step. Gallant’s investment will be used to expand Lightning Step’s team, accelerate its product roadmap, and make strategic acquisitions.
“Gallant’s investment, augmented with its operational resources, will serve as a catalyst to propel Lightning Step into the leading EMR provider to the behavioral health industry,” said Kirk Monroe, CEO of Lightning Step. “We have been thoroughly impressed with the Gallant team and we are excited for what lies ahead for Lightning Step’s team, product, and customers.”
Sentinel Capital Partners, a private equity firm that invests in promising midmarket companies, today announced the acquisition of L2 Brands, a leading designer, manufacturer, and marketer of custom apparel and headwear for the collegiate, destination and leisure, and corporate markets. Financial terms of the deal were not disclosed.
With a heritage dating back more than 30 years, L2 Brands creates customized products that connect consumers with the schools, destinations, and traditions they love. Since its founding in 1991, L2 Brands has grown into a diversified business with a successful history of long-term profitable growth. L2's two brands—League and Legacy—offer widely recognized lines of premium apparel and headwear.
Rotunda Capital Partners (“Rotunda”) has invested in U.S. Waterproofing, Chicagoland’s premier provider of basement waterproofing and foundation repair services. U.S. Waterproofing is the first investment made from Rotunda’s latest fund, Rotunda Capital Partners Fund III, L.P. Matt Stock, third-generation owner of U.S. Waterproofing, will continue to serve as CEO and lead the company going forward.
Founded in 1957, U.S. Waterproofing has helped more than 500,000 customers throughout Northeast Illinois, Northwest Indiana and Southeast Wisconsin enjoy a dry basement and stable foundation. Fueled by their market leading reputation, U.S. Waterproofing’s services have expanded over the years to include crawl space encapsulation, concrete raising, sump pump installation, window well solutions, gutter cleaning and humidity control.
“U.S. Waterproofing is one of the best-known home improvement brands in Chicagoland. We look forward to scaling their comprehensive service capabilities to markets across the country,” said Bob Wickham, Partner at Rotunda.
Text is aggregated from various press release news sources, released by the acquiring firms.
If you're looking at the future of each respective industry, these are the companies to pay attention to. If you're a functional expert looking to get involved with mature startups like the ones listed below, get in touch to see if you're a fit to join our Flywheel.
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