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The Wire
Jul 2, 2024

Agilitas’ Prodieco makes US push with Gemel buy; AIP, Good Springs, Clearlake in deal action

Morning Hubsters, Craig McGlashan here with the Tuesday Wire.

 

We’re seeing plenty of cross-Atlantic deals here on the Hub, not just US private equity firms buying European businesses and vice versa, but plenty of mergers across the ocean.

 

We’ve got one such deal this morning, with Agilitas Private Equity’s Prodieco, a business based in Ireland,acquiring a US company.

 

Then we have a trio of deals in the industrial and manufacturing sector. First, American Industrial Partners is investing in a near-200-year-old explosives business, Good Springs Capital is buying into a provider of plumbing, HVAC and electrical installation services and Clearlake Capital Group has invested in a manufacturing enterprise resource planning and supply chain software provider.

 

Cross-Atlantic push

Agilitas Private Equity portfolio company Prodieco has agreed to acquire the assets of Gemel Precision Tooling, a precision engineering services and parts provider to the life sciences sector in North America.

 

Find out more in the subscriber version of the Wire.

 

Blasting

Elsewhere, there’s been a bit of action in the industrial and manufacturing sector.

 

American Industrial Partners has invested in Austin Powder, a provider of industrial explosives and engineered blasting services, in a deal aimed at dialing up the company’s growth strategy.

 

Read more on the deal in the full version of the Wire.

 

Meanwhile, Good Springs Capital has invested in Kimbel Mechanical Systems, a Fayetteville, Arkansas based provider of plumbing, HVAC, and electrical installation services.

 

Finally, Clearlake Capital Group has invested in Aptean, a global industry-specific enterprise resource planning and supply chain software provider.

 

OK that’s all from me today. Rafael Canton will be on duty tomorrow.

 

Cheers,

Craig

 

Read the full wire commentary on PE Hub ...

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They said it

“The agreement to acquire Gemel marks the continued expansion of Prodieco’s global footprint and extension of its six-decades heritage of manufacturing high-quality and innovative solutions for blister packaging. The acquisition enables Prodieco to deliver its fundamental purpose of providing safer and more effective ways to take medication for more patients all over the world.”

— Martin Calderbank, managing partner, Agilitas

 

Today's letter was prepared by Craig McGlashan

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