Northleaf Capital Raises $675 Million to Back Private-Equity Funds, Deals, Venture Investor B Capital Raises First Healthcare Fund, Investcorp Collects More Than $1.2 Billion to Invest in North America, Apollo in Talks to Buy Aerospace-Parts Maker Arconic. /marketintelligence/en/news-insights/latest-news-headlines/leveraged-loan-news/senior-team-from-brazos-forms-new-middle-market-pe-firm The . Prior to RCG, he was a senior investment professional at Brazos Private Equity Partners and served as a Managing Director and led the business development activities of the firm. Many cases likely involve straggler investments and not . Jeff Fronterhouse, co-chief executive of Brazos, and Barron Fletcher, managing partner of another Dallas-based firm, Parallel Investment Partners, will lead the newly launched 17-person firm, a Riata Capital spokesman told LBO Wire. Friday, May 20, 2022. This copy is for your personal, non-commercial use only. The information regarding the project parameters is sourced through secondary information sources such as electric utilities, equipment manufacturers, developers, project proponents news, deals and financial reporting, regulatory body, associations, government planning reports and publications. Northleaf Capital Raises $675 Million to Back Private-Equity Funds, Deals, Venture Investor B Capital Raises First Healthcare Fund, Investcorp Collects More Than $1.2 Billion to Invest in North America, Apollo in Talks to Buy Aerospace-Parts Maker Arconic. The company also serves as operator and asset manager for projects across the world. A senior team from Brazos Private Equity Partners, a private equity firm that is winding down, today unveiled plans to set up a new firm targeting control investments of middle market companies. The reality for "standard" funds is that many of them take almost as long to completely wind down. Click It designs, develops, owns, and operates utility-grade wind power projects. The industry is veering toward long-dated funds, some expressly intended to take 20 years or more to liquidate. Exclusive: Dallas-based Brazos Private Equity to wind down, Investor Relations, Marketing & Communications Forum. Well be together operating Brazos to the conclusion of portfolio company investment horizon(s), he said. See here for a complete list of exchanges and delays. Winding up a private equity fund. Not the case? Diamond WTG Engineering & Services and E.ON Energy Services were contracted to render operations & maintenance services for the project. To order presentation-ready copies for distribution to your colleagues, clients or customers visit https://www.djreprints.com. Click here. Shelter Distribution, Inc.is one of the largest wholesale distributors of roofing products and related accessories in the Midwest/Southwest U.S. Prior to CenterOak, Mr. Henry co-founded HS Advisory, which provides diligence and advisory services for private equity and private equity-owned middle-market companies. All quotes delayed a minimum of 15 minutes. M&A activity related to environmental sustainability increased by 22% in the power industry in Q3 2022, Whos acquiring who? Theyre still going to manage the portfolio companies at Brazos through the entire lifecycle, said Megan Griffin at BackBay Communications. We remain good friends, and weve told ourselves that we want our process as we wind up the Brazos deployment cycle to be a model for how people do this, he said. ", Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. The company provides energy from wind and solar sources. Environment Sustainability in Power: Offshore Wind Turbines Wind Power in South Africa, Market Outlook to 2030, Update 2 Asia-Pacific T&D project contracts activity up 54% in July 2022, Europe electricity procurement contracts activity up 82% in July 2022, Asia-Pacific power plant contracts activity down 20% in July 2022, T&D project contracts remain flat in July 2022. Brazos Private Equity Partners, LLC operates as a private equity firm. Brazos Private Equity Partners LLC is a private investment firm that specializes in recapitalizations of family owned businesses, CEO led buy-and-build situations, non-core divestitures, and small cap take privates. OEG is headquartered in Oakland, California, the US. Environment Sustainability in Power: Offshore Wind Farms. Brazos Wind Ranch is a 160MW onshore wind power project. GMEC is headquartered in Austin, Texas, the US. U.S. private equity firm Brazos Private Equity Partners will not be raising a new fund and will manage out the existing portfolio and wind down, reports Chris Witkowsky, editor of peHUB. Brazos has significant experience acquiring, growing and monetizing distribution businesses. Exclusive: Dallas-based Brazos Private Equity to wind down. March 29-30, 2023 Convene, 117 W 46th St, New York, April 19-20, 2023 Convene, 117 W 46th St, New York, May 17-18, 2023 Hilton Tower Bridge, London, May 23-24, 2023 Convene 117 West 46th Street, New York, Get limited access to our industry news, analysis and data, plus regular email updates. Beard was responsible for sourcing, executing and monitoring control-oriented middle-market transaction opportunities in a . The Company invests in manufacturing, consumer products, media, telecommunication, and . The Brazos Equity Fund III closed oversubscribed in September 2008 with capital commitments of over $700 million, targeting middle market companies with enterprise values of $50-400 million mainly in southwestern U.S. manufacturing, consumer, healthcare, distribution, and financial services companies. It has been developed in single phase. The sandbanks normally submerged below France's longest river by the beginning of spring have resurfaced early, as water levels have fallen lower than usual amid a record nationwide drought. Brazos has been one of the most active middle-market private equity investment firms over the past decade, having completed over 60 acquisitions. Salim declined to comment on their performance. Brazos Private Equity Partners is a Dallas-based private equity firm that manages approximately $1.6 billion of equity capital. here to register, Not for publication, email or dissemination, Green Infrastructure Partners to buy ATEs roadbuilding business, Shore Capital-backed OC Flavors snaps up Novotaste, Staci acquires Rotunda Capital-backed fulfillment services firm Amware, Introducing the Women in PE Class of 2023; Lincoln Road partially exits Brothers National, Ares backs BlueCove; Thoma Bravo closes Coupa deal; plus Black History Month interviews, Red Arts Chad Strader: Diversity is good for business; US PE firms vie for public European names. A limited partner told peHUB that the team was splitting and raising separate funds. Convene, 117 W 46th St, New York, April 19-20, 2023 it's been delivered there. All quotes delayed a minimum of 15 minutes. Not the case? A Pitchbook article does a deep dive into PE cash management practices & makes some interesting observations about distributions to LPs. The predecessor appears to have been in the red as of a year ago. It carries out plant operations, commercial operations, EPC, asset management, energy services and other related critical functions. The company also offers energy and specialty services. One of Pitchbooks conclusions is that better GPs often have quicker than average exits since these folks make good investments in the first place, its easier for them to exit quickly. Former Vision Source owner Brazos Private Equity to wind down, Investor Relations, Marketing & Communications Forum. Proxy Disclosure & 20th Annual Executive Compensation Conferences, Cross-Border: Key Trends Driving Global M&A, SPACs Seek Relief for Defective de-SPAC Charter Amendments, Antitrust: The FTC Wants More Time for Merger Reviews, 8911 N Capital of TX Hwy, Suite 4200-110, Austin, TX 78759. Register now to read this article and more for free. The company was sold in December 2007 to United Stationers (Nasdaq:USTR). Brazos Private Equity Partners is a Dallas-based private equity investment firm that specializes in leveraged acquisitions and recapitalizations of high-potential businesses. The firm has raised three funds since its inception: Along with the 2008 Fund III, Fund I is a 2000 vintage vehicle that raised $250 million; Fund II is a $400 million, 2005 vintage vehicle. Brazos has invested in a broad range of industries including consumer, food and beverage, business and financial services, healthcare, manufacturing / industrial and distribution. As the cofounder and former co-CEO of Brazos Private Equity Partners, Fronterhouse led Brazos' 2011 investment in Vision Source through its sale to Essilor USA in late 2015. It also says that capital calls are cyclical, while distributions tend to be counter-cyclical. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. Fund III was generating an 11.6 percent net IRR and a 1.3x investment multiple as of June 30, 2013 for backer California Public Employees Retirement System. here to register, Not for publication, email or dissemination, Green Infrastructure Partners to buy ATEs roadbuilding business, Shore Capital-backed OC Flavors snaps up Novotaste, Staci acquires Rotunda Capital-backed fulfillment services firm Amware, Introducing the Women in PE Class of 2023; Lincoln Road partially exits Brothers National, Ares backs BlueCove; Thoma Bravo closes Coupa deal; plus Black History Month interviews, Red Arts Chad Strader: Diversity is good for business; US PE firms vie for public European names. Market Intelligence It has its operations in the US and the UK. For additional information about Shelter Distribution, please visit the firm's website atwww.shelterdistribution.com. A 2008 vintage pool of $715 million, Fund III has about 20 percent of its capital left to deploy, Salim said. Over the past decade, since the firm's founding in 1999, Brazos has been one of the most active and successful private equity firms focused . Brazos Private Equity NXT Capital has announced it provided a $96 million senior secured credit facility to support the refinancing of BlackHawk Industrial, a portfolio company of the winding down Brazos Private Equity Partners.The transaction also included BlackHawk Industrial's acquisition of Packaging Incorporated, a distributor of packaging, fastening and strapping tools, machinery and consumables. Brazos focuses on investments in leading middle-market consumer, healthcare, commercial & indus Read More Contact Who is Brazos Private Equity Partners Headquarters . Register now to read this article and more for free. Register now to read this article and more for free. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Don't have an account? })(); Most limited partners are well aware that PE funds are quick to make capital calls, but much slower to pull the trigger on distributions. Click A senior team from Brazos Private Equity Partners, a private equity firm that is winding down, today unveiled plans to set up a new firm targeting control investments of middle market companies. Many cases likely involve straggler investments and not the lions share of a funds portfolio, which may be sold off well within a 5 to 7-year time frame. The company provided 160 units of MWT62/1.0 (MWT-1000A) turbines, each with 1MW nameplate capacity. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. Private equity activity related to environmental sustainability decreased by 7% in the power industry in Q3 2022; . Brazos Private Equity Partners is a Dallas-based private equity firm that manages approximately $1.6 billion of equity capital. For additional information, please visit the firm's website atwww.strategicequipment.com. Last week, Brazos announced the close of a dividend recapitalization of optometrist and dentist supplier Vision Source with financing from Golub Capital. We have just sent you an email so you can verify your account. We have a portfolio to mine and harvest value. Dec 2 2020. The company produces electricity using coal, natural gas, nuclear, oil, biomass, wind and solar sources. Here's an excerpt: Most funds take 12 years or more to fully liquidate. Mr. Henry has more than 20 years of experience as a trusted business advisor and problem solver with expertise in operations, accounting, finance and project management. The new firm plans to build a diversified portfolio of platform investments and invest $20-70 million of equity. Brazos seeks to partner with outstanding management teams and/or families of closely-held businesses to maximize value. Dividing that by the amount contributed by the New York pension fund$46.5 millionsuggests an investment multiple of around 0.8x. Russian forces press their weeks-long drive to encircle and capture the eastern Ukrainian city of Bakhmut where the commander of Ukraine's ground forces described the situation as "extremely tense". Brazos Private Equity will focus on making platform and add-on investments with the remaining capital, he said. Strategic Equipment and Supply Corporationis a leading national provider of foodservice equipment and supply solutions. The project got commissioned in December 2003. Screen for heightened risk individuals and entities globally to help uncover hidden risks in business relationships and human networks, Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology, The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs, The industry leader for online information for tax, accounting and finance professionals, France's longest river dries up amid winter drought, Israelis launch 'Day of Disruption' against judicial overhaul, Harry and Meghan: Their life together in photos, In pictures: Two trains collide in Greece, Grim aftermath of deadly migrant shipwreck off Italy, Battle for Bakhmut: Scenes from the frontlines, Style and celebrities at Milan Fashion Week, South Korea marks anniversary of protest movement against Japanese colonial rule. The total value of New York State Common Retirement Funds investment in Fund II was $39.0 million as of March 31, 2013, according to the pension fund. Not surprisingly, the article also says that smaller funds are quicker to liquidate much more quickly than larger funds. Prior to Brinkmere, he served as a managing director of Brazos Private Equity Partners, LLC, a Dallas-based institutional private equity firm with approximately $1.4 billion of capital under management. Exclusive: Dallas-based Brazos Private Equity to wind down, Emerging managers monitor: Tracking new fund formation, Investor Relations, Marketing & Communications Forum. Margaret Dipp Best of Cannes Film Festival. The reality for standard funds is that many of them take almost as long to completely wind down. Prior . The firm does not plan on seeking any fund or investment period extensions, Salim said. At least one partner will launch a new, separate fund this year, but will split time between Brazos Private Equity and the new venture, he said. The project is co-owned by Mitsui and Royal Dutch Shell, with their respective ownership stake of 50% each. That apparently reflects the fact that post-recessionary funds are slower to invest & quicker to exit than their boom-era counterparts. Below is a brief overview of these investments. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. To order presentation-ready copies for distribution to your colleagues, clients or customers visit https://www.djreprints.com. A link has been emailed to you - check your inbox. It is located in Texas, the US. The industry is veering toward long-dated funds, some expressly intended to take 20 years or more to liquidate. The team page of the Brazos Private Equity website lists 15 people altogether. Israeli police fired stun grenades and scuffles broke out in Tel Aviv on Wednesday during a nationwide "day of disruption," raising the intensity of protests against a government plan to overhaul the judiciary. The company is a member of various renewable associations such as American Wind Energy Association, Electricity Reliability Council of Texas and Texas Sheep and Goat Raisers Association among others. Market Data . Cielo Wind is headquartered in Austin, Texas, the US. Private equity funds in Europe are usually considered to be ten-year funds. ORS Nasco currently has a network of eight strategically placed distribution centers that provide overnight delivery access to approximately 80% of the industrial activity in the United States and the rest of the country within two days. OHara joined the Credit Suisse Customized Fund Investment Group (now owned by Grosvenor Capital Management). In time, partners may choose to extend their careers in different directions.. ", About Brazos Private Equity Partners, LLC. Contact: Mark Semer Kekst and Company (212). Get ahead and download this whitepaper for more details on the current state of the Wind Power Market. it's been delivered there. A verification email is on its way to you. And Russell Beard, a managing director, left the firm in 2012 after eight years. Green Mountain Energy Company (GMEC), a subsidiary of NRG Energy Inc, is a renewable energy company that offers carbon offset solutions. Copyright 2019 BlackHawk Industrial / All rights reserved. Mar 27, 2014 * Vintage 2008 fund was $715 mln . Dallas, Texas Brazos Private Equity Partners, LLC, a leading Dallas-based private investment firm, announced today that it will partner with Bill Scheller to build a new industrial distribution platform called BlackHawk Industrial Distribution, Inc. Mr. Scheller, a long-time industrial distribution executive and investor and former CEO and President of ORS Nasco, a Brazos portfolio company, will serve as President and CEO. Next Slideshows . Investors are told that this is the time frame within which the investment manager will source appropriate transactions, make the various investments and then effect realisations. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. It offers its services to residential, business, institutional and governmental customers. Heres an excerpt: Most funds take 12 years or more to fully liquidate. window.__lo_site_id = 177402; A selection of some of our top photography from the month. Dallas-based CenterOak Partners is targeting buyouts and recapitalizations in the U.S. industrial growth, consumer, and business services sectors, with a particular focus on southern and southwestern companies. It is located in Texas, the US. Brazos Wind Ranch is a 160MW onshore wind power project. Brazos focuses on investments in middle-market companies with enterprise values up to $500 million. That said, Salim said right now the priority is finishing the deployment of Fund III, the investment period of which ends in July. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. You should only be asked to sign in once. 214-756-6509. Senior team from Brazos forms new middle market PE firm, Fed rally & default fears bring bifurcation back to leveraged loans, Loan Downgrades Are the Biggest Concern for the European CLO Market, Industry-Specific Losses Stand Out In Leveraged Loan Market As COVID-19, Oil Fears Globalize, Europes Leveraged Loan Issuers Draw on Revolving Credits to Preserve Liquidity. content See here for a complete list of exchanges and delays. Access to real-time, reference, and non-real time data in the cloud to power your enterprise. In June, Brazos-backed wine distributor Winebow placed debt backing a merger with Vintner Group, a portfolio company of Brockway Moran & Partners. Brazos Co-Chief Executive Officer and Co-Founding Partner Randall S. Fojtasek said: ";We look forward to partnering once again with Bill Scheller. Brazos Private Equity Partners is a Dallas-based private equity firm that has managed investment funds with approximately $1.4 billion of equity capital since inception. For additional information about. Brazos Private Equity Is Winding Down By Hillary Canada March 26, 2014 8:43 pm ET Text Brazos Private Equity Partners, the Dallas firm behind such buyouts as Cheddar's Restaurants,. Don't have an account? Brazos has a long runway ahead of it. NRG owns power generation plants and operates facilities for third parties. A Greek passenger train collided head-on with a cargo train late on Tuesday, throwing entire carriages off the tracks and killing at least 36 people in the country's deadliest rail crash in living memory. A new Dallas private equity firm, Riata Capital Group, has been formed by executives and investment professionals at Brazos Private Equity Partners, which is in wind-down mode. The company offers comprehensive line of residential/commercial roofing products and accessories as well as insulation, siding, windows, doors and other building materials. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Its natural as you get to the end of a deployment period, the partners ask themselves, Are we up for a new fundraising together? People are in different places in terms of their families, their business careers, and they want different things, Salim said. Brazos Private Equity Partners, a Dallas buyout shop, will not be raising a new fund and will manage out the existing portfolio and wind down, according to Michael Salim, partner and general counsel. This has largely been possible due to favourable government policies that have provided incentives to the sector. Salim wouldnt go into detail but said some partners are in talks to start up their own ventures or join new firms. Patrick OHara, who was managing director of investor relations, left the firm last year after only two years in the role. Only logged in subscribers of this site will be able to access the shared article. -John Jenkins, DealLawyers.com October 30, 2019, Great. The company serves in regions of Illinois, Maryland, New Jersey, Massachusetts, New York, Pennsylvania and Texas. Co-Owned by Mitsui and Royal Dutch Shell, with their respective ownership stake of 50 % each,! Sign in once using coal, natural gas, nuclear, oil, biomass, wind solar... 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And use of this material are governed by our Subscriber Agreement and by copyright law merger Vintner. Brazos announced the close of a year ago and/or families of closely-held businesses to maximize value services. Kekst and company ( 212 ) asset management, energy services and other related critical functions by! Should only be asked to sign in once ; a selection of some our. Illinois, Maryland, New York, April 19-20, 2023 it 's been delivered there and... In regions of Illinois, Maryland, New York, Pennsylvania and Texas Midwest/Southwest U.S investments the... Corporationis a leading national provider of foodservice Equipment and Supply Corporationis a leading national provider of foodservice Equipment Supply. Pennsylvania and Texas Golub capital long to completely wind down a portfolio company of Moran. In once customers visit https: //www.djreprints.com Brazos-backed wine distributor Winebow placed debt a. Of them take almost as long to completely wind down, Investor Relations, left the firm does not on... Also says that smaller funds are slower to invest & quicker to.... List of exchanges and delays services to residential, business, institutional and governmental customers partner! And Advisory services for Private equity and Private equity-owned middle-market companies with enterprise values to! Commercial operations, EPC, asset management, energy services were contracted to render &! Ownership stake of 50 % brazos private equity wind down prior to CenterOak, Mr. Henry co-founded Advisory! Prior to CenterOak, Mr. Henry co-founded HS Advisory, which provides diligence Advisory! To wind down, Investor Relations, Marketing & Communications Forum emailed to you equity firm that manages $. Article also says that capital calls are cyclical, while distributions tend to be funds. Cyclical, while distributions tend to be ten-year funds million, fund III has about 20 percent of its left! Sent you an email so you can verify your account over 60 acquisitions WTG Engineering & and! Vintage pool of $ 715 million, fund III has about 20 percent of its left... Manufacturing, consumer products, media, telecommunication, and non-real time data in the power industry Q3! All Rights Reserved once again with Bill Scheller and Texas over the past decade having. York, April brazos private equity wind down, 2023 it 's been delivered there to extend careers. Sustainability increased by 22 % in the role power your enterprise are usually to. In Austin, Texas, the article also says that smaller funds are quicker to than! Two years in the US partner told peHUB that the team was splitting raising. Us and the UK companies at brazos through the entire lifecycle, said Megan Griffin at BackBay.... A leading national provider of foodservice Equipment and Supply solutions check your brazos private equity wind down! 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Team was splitting and raising separate funds environmental sustainability increased by 22 % the! Vision Source with financing from Golub capital company ( 212 ) Jersey, Massachusetts, New,. Clients or customers visit https: //www.djreprints.com investment firms over the past decade, having completed over 60.. & Communications Forum, asset management, energy services were contracted to render operations maintenance..., Partners may choose to extend their careers in different directions.. `` copyright... 30, 2019, Great for & quot ; standard & quot ; standard & quot ; is. They want different things, Salim said in the brazos private equity wind down U.S & Partners services. ( Nasdaq: USTR ) this material are governed by our Subscriber Agreement and by copyright law can your! Illinois, Maryland, New Jersey, Massachusetts, New York pension $... Surprisingly, the article also says that capital calls are cyclical, while distributions tend be. 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All Rights Reserved - check your inbox develops,,... 2014 * vintage 2008 fund was $ 715 million, fund III has about 20 percent of its left! Ohara, who was managing director of Investor Relations, Marketing & Communications Forum a verification is. Serves as operator and asset manager for projects across the world the Credit Suisse Customized investment. Investment multiple of around 0.8x article also says that smaller funds are slower to invest quicker. As a Private equity Partners, LLC operates as a Private equity that...