Inflexion powers through US expansion; Peak Rock Capital looks to sell Ziyad Brothers owner GMF

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Inflexion powers through US expansion; Peak Rock Capital looks to sell Ziyad Brothers owner GMF

Good morning dealmakers, it’s Obey Martin Manayiti with the US edition of the Wire from the New York newsroom.

We have seen some US based PE firms scouring investment opportunities in European markets. That trend is two-way. We are opening the newsletter with an exclusive that Inflexion Private Equity Partners-backed Ocorian, which is based in Channel Islands, is set to acquire the Chicago-headquartered Fund Solutions division of Element 78 Partners.

Next, we have the latest on Peak Rock Capital, which is expected to launch a sale process for Global Market Foods, a Middle Eastern and Mediterranean food products maker that includes the Ziyad Brothers brand. Stay tuned to a detailed process update below.

Finally, we have a couple of deals news this morning, but I will focus on two deals that focus on home finishes and repairs. First, The Sterling Group has sold Artisan Design Group, a Dallas-based provider of design, distribution and installation services for interior surface finishes to home builders and property managers, to Lowe’s Companies for $1.3 billion.

Secondly, Confluence Point Holdings has acquired Perry’s Roofing, a Pleasantville, New York-based provider of roofing and related exterior replacement and repair services.

Support for alternative investment fund managers

Inflexion’s decision to open a New York office earlier this year appears to be paying off, with the company's Channel Islands-based business Ocorian set to acquire the Chicago-headquartered Fund Solutions division of Element 78 Partners, PE Hub revealed earlier in an exclusive story.

Earlier this year, London-headquartered Inflexion hired Ben Meyer from Hg as a partner and head of North America as it opened an office in New York.

Upgrade to the premium version of the Wire to learn more on opportunities that Ocorian has identified with this deal.

Home cooking

Peak Rock Capital is expected to launch a sale process for Middle Eastern and Mediterranean food products maker Global Market Foods, the rebranded name for food brand Ziyad Brothers, three sources briefed on the matter told our senior reporter Michael Schoeck.

Earlier this year, the Austin, Texas-based PE firm combined Ziyad Brothers and its few other brands and rebranded the company Global Market Foods. The rebrand reflects the company’s expansion into South Asian, African and Caribbean foods.

Premium subscribers have access to more on the sale process.

Interior surface finishes

The Sterling Group has completed the previously announced sale of Artisan Design Group, a Dallas-based provider of design, distribution and installation services for interior surface finishes to home builders and property managers, to Lowe’s Companies. The deal was worth $1.3 billion.

Upgrade to the premium version of the Wire for more.

Roofing and exterior replacements

Confluence Point Holdings has acquired Perry’s Roofing, a Pleasantville, New York-based provider of roofing and related exterior replacement and repair services. This is the firm’s first platform investment.

Premium subscribers have access to more on this platform investment.

We have a number of deal announcements this morning so please check out the Deals section below or the Deals section of the website to see the other deals we covered this morning.

That’s it from me today. Craig McGlashan will bring you the Europe edition tomorrow, while Rafael Canton will write Wednesday’s US Wire.

Cheers,

Obey

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

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LPs consider benching old benchmark methods and gauges: The standard mode used to communicate risk-return goals is being re-examined given new frustrations with long-held tools. (Buyouts)

Many LPs have shied away from investments in natural gas in recent years. They’re now returning, providing GPs with significant new avenues to explore. (Infrastructure Investor)

Chicago-based Antares Capital has closed its first continuation vehicle, with $1.2 billion in commitments, that seeks to invest in the assets and limited partner interests of two comingled private credit funds administered by the company. Ares Management’s credit secondaries fund was a lead investor in the fund. (Private Debt Investor)

Brookfield’s sponsor solutions co-head departs firm: Mark McDonald joined Brookfield when the asset manager in 2023 bought Deutsche Bank's specialist secondaries unit that he led. (Secondaries Investor)

European investment firm Eurazeo expects its capital-raising efforts in the wealth channel to exceed €1 billion this year, as it pushes expansion of its client base outside of France. (Private Equity International)

MA Financial joint chief executive Julian Biggins said “it’s a good time to be more aggressive in real estate,” following the announced acquisition of the specialist shopping center-focused asset manager IP Generation this month. (PERE)

A report by Evercore and the HEC School of Management in Paris has reaffirmed findings that continuation funds perform largely in line with buyout funds with less risk. (Secondaries Investor)

Deals

Today's letter was prepared by Obey Martin Manayiti

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