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Graham Partners runs CV for Gatekeeper; PACT Capital talks mid-market GP stakes; Bain to acquire Milacron for $287m

Good morning, Hubsters. Senior reporter Michael Schoeck here with the US edition of the Wire from the New York newsroom.

Today we’ll take a look at a report from Chris Witkowsky on a Graham Partners-backed technology company that is pursuing a continuation vehicle funding after running a sale process.

Next up we have a story from Hannah Zhang on a new mid-market GP stakes investor formed by a former Goldman Sachs managing director.

In deal news, Bain Capital is acquiring a global injection molding and plastic extrusions company..

And we’ll wrap up with a weekly update on companies for sale that I’ve been covering.

Anti-theft security tags

Graham Partners is running a solidly “mid-market” single-asset continuation fund deal, looking to extend its hold over portfolio company Gatekeeper Systems, which it acquired in 2019, Chris Witkowsky reports.

To learn more, upgrade to the premium version of the Wire.

Mid-market GP stakes

For newly launched GP stakes investment firm PACT Capital Partners, the mid-market is one of the most attractive segments available.

The firm, which was founded last month by Christian von Schimmelmann, former global co-head at Goldman Sachs Asset Management’s Petershill Group, and Brian Vickery, a former partner at McKinsey’s private capital practice, seeks to acquire stakes in GPs.

PE Hub editor-in-chief MK Flynn highlighted GP stakes in a recent Q&A with Conway Bate, managing director, global head of capital formation, Hunter Point Capital.

Upgrade to the premium version of the Wire for more.

Injection molding

Late Wednesday, Bain Capital announced its special situations fund group is acquiring a 51% majority stake of Milacron from strategic Hillenbrand for about $287 million.

Upgrade to the premium version of the Wire to read more on the deal.

Companies for sale

So far this year industry sources have told me of more than a dozen companies coming to the market or in the early stages of taking bids, making for a slow start to the year.

Upgrade to the premium version of the Wire to read more on companies coming to the market.

If you’ve got tips on companies coming to the market, shoot me a note at [email protected].

That’s a wrap for me.  Keep an eye out for the Europe edition of the Wire tomorrow from Irien Joseph and the US edition from John R Fischer.

Cheers,

Michael

Read the full Wire commentary on PE Hub ...

Also of note (may require subscriptions)

European mid-market private equity firm Inflexion is in market with a sizeable GP-led secondaries process ($2 billion+), Secondaries Investor has learned.

President Trump delivered a setback to the wind industry on his first day in office. Investors, though, shouldn’t be discouraged from the US market. (Infrastructure Investor)

Throughout 2024 it was virtually impossible to discuss data centers without mentioning AI. But while AI needs data centers for expansion, the reverse may not be strictly true. (Infrastructure Investor)

In the latest episode of the Infrastructure Investor Podcast, Ridgewood Infrastructure’s Ross Posner and I Squared Capital’s Gautam Bhandari share their insights on how the mid-market has evolved to date, how well it’s stood up in difficult macroeconomic conditions, where to look for those growth opportunities, and why the sector is primed to benefit from a predicted infra supercycle.

Lexington Partners has bulked up its secondaries investment leadership in naming Victor Wu as co-chair of its secondaries investment committee. Wu joins fellow co-chairs Wil Warren, partner and president, and Pål Ristvedt, a partner, on the committee. (Secondaries Investor)

Rebounding demand across the global industrial and logistics sector has industry participants thinking outside the box as occupiers look for more than just a space to store stuff. New and evolving subsectors like urban logistics and outdoor storage are showing potential for savvy investors and managers who can navigate the emerging trends and challenges highlighted in PERE's latest Industrial & Logistics report.

Deals

They said it

“We believe that there still is an enormous amount of white space [for GP stakes], particularly in the mid-market.”

— Brian Vickery, partner and co-founder of PACT Capital Partners, on the GP stakes deal environment for mid-market firms.

Today's letter was prepared by Michael Schoeck

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