Happy Monday!
This is Chris, on the Wire this morning for Sarah.
We got some stuff for ya: Gryphon Investors acquired Wittichen Supply Co., which distributes heating, ventilation, air conditioning and refrigeration equipment and customer service. The deal comes amid a frenetic M&A environment that shows no signs of slowing, according to Lazard CEO Ken Jacobs on Bloomberg.
Meanwhile, here's an update on the Novalpina drama (Wire readers will be familiar with this ongoing saga). LPs kicked out the GP in a no-fault divorce in July.
The frontrunner to replace the GP is Berkeley Research Group (BRG), which has a unit that focuses on GP replacements and other challenging situations. That unit is led by Finbarr O’Connor and Gavin Farrell. A vote had not happened as of Friday, sources told Buyouts. Novalpina’s LPs must vote by the end of this week to replace the GP, or the fund will simply move into wind-down mode. Read it here on Buyouts.
That’s it for me! Hit me up with tips n’ gossip, feedback, anonymous information or whatever at [email protected] or find me on LinkedIn.
Read the full wire commentary on PE Hub...
