Brazos Private Equity Partners LLC. Golub Capital provided the financing to support the deal through a uni-tranche term loan facility and revolver. here to register, Not for publication, email or dissemination, Green Infrastructure Partners to buy ATEs roadbuilding business, Shore Capital-backed OC Flavors snaps up Novotaste, Staci acquires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. peHUB-Exclusive: Dallas-based Brazos Private Equity to wind down. A link has been emailed to you - check your inbox. 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. Salim declined to comment on their performance. Formed in early 2000 through the consolidation of six independent foodservice equipment and supply solution companies, Strategic Equipment and Supply has been instrumental in opening more than 10,000 restaurants, as well as 1,000 non-restaurant foodservice facilities. Many cases likely involve straggler investments and not . Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. It designs, develops, owns, and operates utility-grade wind power projects. It is located in Texas, the US. Information, analytics and exclusive news on financial markets - delivered in an intuitive desktop and mobile interface. CenterOak Partners, LLC ("CenterOak" or the "Firm"), a Dallas-based private equity firm focused on making control-oriented investments in middle market companies, today formally announced its formation led by Randall Fojtasek, former Co-Founder and Co-Chief Executive Officer of Brazos Private Equity Partners, LLC ("Brazos"). The company supplies a comprehensive product portfolio of over 140,000 branded and private label products sourced from over 600 vendors to over 11,000 independent distributors in multiple sectors; including, industrial, janitorial/sanitation, MRO, safety, construction, electrical, rental, welding, and oilfield services. Phone Number (214) 756-6500. Italian authorities arrested three people and were looking for a fourth suspect who they believe trafficked up to 200 migrants aboard a wooden boat that smashed apart on rocks off southern Italy on Sunday, killing at least 65 people. He said management fees wont change and will be necessary to pay the team to deploy Fund III and manage out the firms existing investments. The companys services include renewable energy resource assessment, site identification, energy output projections, environmental assessment, negotiating turnkey construction service contracts, and site design and site layout optimization services. Cielo Wind Power LP (Cielo Wind) is a wind power project development company. Strategic Equipment and Supply Corporationis a leading national provider of foodservice equipment and supply solutions. That said, Salim said right now the priority is finishing the deployment of Fund III, the investment period of which ends in July. For additional information about. esgSubNav, Discover more about S&P Globals offerings, Global Economies in Flux: Drive Decisions with the Purchasing Managers Index (PMI) Data, The Natural Language Processing (NLP) Revolution and ChatGPT: An Introduction to the field, our latest research, and how Kensho is empowering businesses to make the most of these technologies, 10:00 - 11:00 am EST | 4:00 - 5:00 pm CET, Long Beach Convention & Entertainment Center. 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. The reality for "standard" funds is that many of them take almost as long to completely wind down. A re-enactment of the March First Independence Movement was held honoring the national holiday and 1919 demonstrations that called for independence from Japan. The . 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. The new firm plans to build a diversified portfolio of platform investments and invest $20-70 million of equity. Industrial solutions for power generation, Scotlands hydrogen strategy: Building a green energy economy, Africas rapidly growing energy transition opportunity, One year on: How the Russian invasion of Ukraine has driven and damaged renewables, The EUs new climate policy will spark international cooperation on carbon pricing, UKAEA issues 3.1m of fusion contracts for commercial development, First Solar to supply solar modules to Lightsource BP in US, Engie selects Ecoppia to clean 181MWac solar project in Chile, Electric Process Heaters Help Decarbonise Petrochemical Refining, Whos acquiring who? In time, partners may choose to extend their careers in different directions.. Brazos seeks to partner with outstanding management teams and/or families of closely-held businesses to maximize value. Private equity funds in Europe are usually considered to be ten-year funds. it's been delivered there. For Brazos, Mr. content Texas-based buyout house Brazos Private Equity Partners is reportedly set to wind down after revealing it will not raise Sorry, you need to subscribe to read this article. It also says that capital calls are cyclical, while distributions tend to be counter-cyclical. A verification email is on its way to you. To order presentation-ready copies for distribution to your colleagues, clients or customers visit https://www.djreprints.com. Abby Latour, latest-news-headlines Only logged in subscribers of this site will be able to access the shared article. Insight. Heres an excerpt: Most funds take 12 years or more to fully liquidate. The project is currently active. 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 industry is veering toward long-dated funds, some expressly intended to take 20 years or more to liquidate. Brazos focuses on investments in leading middle-market consumer, healthcare, commercial & indus Read More Contact Who is Brazos Private Equity Partners Headquarters The company serves in regions of Illinois, Maryland, New Jersey, Massachusetts, New York, Pennsylvania and Texas. Brazos Wind Ranch is a 160MW onshore wind power project. Shelter Distribution, Inc.is one of the largest wholesale distributors of roofing products and related accessories in the Midwest/Southwest U.S. Contact: Mark Semer Kekst and Company (212). For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. NRG owns power generation plants and operates facilities for third parties. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Brazos has a long runway ahead of it. The company produces electricity using coal, natural gas, nuclear, oil, biomass, wind and solar sources. The company was sold in October 2005 to Beacon Roofing Supply (Nasdaq: BECN). The New York pension fund has done far better in the debut fund, realizing an investment multiple of 1.8x on its $39.4 million investment as of the same date. Below is a brief overview of these investments. Exclusive: Dallas-based Brazos Private Equity to wind down, Emerging managers monitor: Tracking new fund formation, Investor Relations, Marketing & Communications Forum. Copyright 2019 BlackHawk Industrial / All rights reserved. It also provides construction management, project financing, operations and maintenance and asset management services. Well be together operating Brazos to the conclusion of portfolio company investment horizon(s), he said. A link has been emailed to you - check your inbox. Brazos Private Equity Partners is a Dallas-based private equity investment firm that specializes in leveraged acquisitions and recapitalizations of high-potential businesses. We have just sent you an email so you can verify your account. Please check your spam or junk folder just in case Not the case? 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. 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. It offers its services to residential, business, institutional and governmental customers. 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. Last week, Brazos announced the close of a dividend recapitalization of optometrist and dentist supplier Vision Source with financing from Golub Capital. . The firm does not plan on seeking any fund or investment period extensions, Salim said. Register now to read this article and more for free. The first Brazos fund closed in 2000 with commitments of $250 million. Facility Maintenance, Repair & Operations, Brazos Private Equity Partners and Bill Scheller seek to build a new industrial distribution platform. Only logged in subscribers of this site will be able to access the shared article. 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. Patent activity related to artificial intelligence decreased by 43% in the power industry in Q3 2022, A tale of two COPs: Connecting climate and biodiversity, Floating wind: Time to turn expertise into action in deeper waters. Register now to read this article and more for free. It was a timely moment for the partners to pursue other business opportunities.. 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. 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. The project was developed by Cielo Wind Power, Green Mountain Energy, NRG Energy and Orion Energy Group. Brazos has been one of the most active middle-market private equity investment firms over the past decade, having completed 54 acquisitions, including 20 platform investments. 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,. Brazos focuses on investments in middle-market companies with enterprise values up to $500 million. This copy is for your personal, non-commercial use only. The reality for standard funds is that many of them take almost as long to completely wind down. GMEC is headquartered in Austin, Texas, the US. After sign up, well get in touch to help you find the resources that will benefit you the most. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. During his tenure at Brazos, Mr. Askew was instrumental in organizing and executing investments in the consumer, healthcare, business services, and industrial sectors. (function() { We have a portfolio to mine and harvest value. it's been delivered there. Brazos Private Equity Brazos has been one of the most active middle-market private equity investment firms over the past decade, having completed over 60 acquisitions. Contact Diamond WTG Engineering & Services and E.ON Energy Services were contracted to render operations & maintenance services for the project. It has its operations in the US and the UK. 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 . })(); Most limited partners are well aware that PE funds are quick to make capital calls, but much slower to pull the trigger on distributions. March 29-30, 2023 Brazos has been one of the most active middle-market private equity investment firms, having completed in excess of 80 transactions over the past decade. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address. ", Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Private equity activity related to environmental sustainability decreased by 7% in the power industry in Q3 2022; . Exclusive: Dallas-based Brazos Private Equity to wind down. And Russell Beard, a managing director, left the firm in 2012 after eight years. Click here. Brazos Private Equity will focus on making platform and add-on investments with the remaining capital, he said. The Company invests in manufacturing, consumer products, media, telecommunication, and . ORS Nasco, Inc.is one of the largest, pure wholesale distributors of industrial supplies in North America. This is further set to rise to 15% by 2030. Orion Energy Group LLC (OEG) is a renewable energy company that constructs, develops, operates, and finances wind power projects. 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. Please check your spam or junk folder just in case To order presentation-ready copies for distribution to your colleagues, clients or customers visit https://www.djreprints.com. In an email, Mr. Salim said the firm didn't plan to raise another fund, but "we are fully engaged on a business-as-usual basis in evaluating investment opportunities, managing our portfolio and creating value for our investors. NRG Energy and TXU Energy Retail are the power offtakers from the project. By downloading this Report, you acknowledge that we may share your information with our white paper partners/sponsors who may contact you directly with information on their products and services. 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. Click The company was sold in December 2007 to United Stationers (Nasdaq:USTR). Brazos has significant experience acquiring, growing and monetizing distribution businesses. 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. Brazos Co-Chief Executive Officer and Co-Founding Partner Randall S. Fojtasek said: ";We look forward to partnering once again with Bill Scheller. Brazos has invested in a broad range of industries including consumer, food and beverage, business and financial services, healthcare, manufacturing / industrial and distribution. Salim wouldnt go into detail but said some partners are in talks to start up their own ventures or join new firms. The company offers comprehensive line of residential/commercial roofing products and accessories as well as insulation, siding, windows, doors and other building materials. 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