Good morning dealmakers, thank goodness it’s Friday.
It’s Obey Martin Manayiti here with the newsletter. Like many of you, I am gearing up for the solar eclipse on Monday.
On the deal front, One Equity Partners has completed the carveout of a spring manufacturer.
I will also highlight the Deal of the Year winner in the mid-cap category.
Next up, I will revisit a couple of personal beauty deals announced this week, including deals from West Lane Capital Partners and from Elevation Labs, a portfolio company of Knox Lane. This is a sector that has shown a lot of activity since last year.
I will also look at a recent trend of PE firms investing in dental care with five deals.
And, finally, Bregal Investments shared the sad news thatRyan Selwood has passed away.
Engineered springs
One Equity Partners has completed its previously announced curve out of Associated Spring, a manufacturer of engineered spring and precision components, from Barnes Group Inc, a global industrial technology and aerospace manufacturer.
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Mid-cap winner
Vestar Capital Partners’ exit of foodservice equipment and services distributor Edward Don & Cowas a rarity this past year, not just because of its sterling financial results, but also because it was acquired by a publicly traded strategic investor, writes Gregg Gethard.
Subscribers to the premium version of the Wire may read all about the deal.
Read about all the winners of the Deal of the Year.
Personal beauty
West Lane Capital Partners this week acquired the Seven haircare brand, a Seattle-based professional hair care line from Proctor Lane Investments.
The premium version of the Wire has more.
Dental care
This year opened with a flurry of dental care-focused private equity investments. The sector is largely fragmented and ripe for consolidation. Pat Dugoni, principal at HGGC, told PE Hub last year that somewhere around 70 percent of the industry is still under independent dental practices.
“So that’s over 100,000 independent dental practices. We think there’s just a lot of opportunity for many years to continue to grow and build an M&A platform in dentistry,” said Dugoni.
The trend is continuing and we rounded up five recent deals.
Indelible mark
Finally, there is some sad news to report this morning.
Ryan Selwood, chief investment officer of Bregal Investments, has passed away, according to the firm. He was 51.
Bregal’s management team said in a note shared with PE Hub and Buyouts:
It is with profound sadness that we announce the tragic and untimely passing of Ryan Selwood, Chief Investment Officer of Bregal Investments. At the time of his passing, Ryan was in Portugal with Alain Carrier, CEO of Bregal Investments, and Delaney Brown, Head of Capital Solutions for Bregal Investments. Both are grieving the loss of their longtime friend and colleague.
Ryan was not only a respected leader at Bregal, but a prominent and longstanding member of the financial services industry. Since joining Bregal in March 2023, Ryan left an indelible mark on our organization and the individuals he worked with.
Beyond his professional accomplishments, Ryan was a beloved husband, father, and friend.
Our thoughts are with Ryan’s family and loved ones during this incredibly difficult time. We kindly ask that the media and public respect the family’s privacy as they mourn the loss of Ryan.
A financial services veteran, Selwood joined Bregal’s New York office in March 2023. Prior to Bregal, Selwood had been chief development officer and a partner at the Carlyle Group. He also served as head of direct private equity at CPP Investments from July 2006 to October 2021. Earlier in his career, he had been vice president of investment banking at Merrill Lynch.
Selwood is survived by his wife and two children.
MK Flynn will be back with more on Monday.
Regards,
Obey
Read the full wire commentary on PE Hub ...
