Pilot Flying J, the largest North American operator of travel centers and the fourth-largest tanker fleet in the US, purchased equity interest in Equipment Transport from CIVC Partners. This acquisition is one of many strategic partnerships made by Pilot Flying J this year to extend its core logistics business and grow its service offerings in the exploration and production sector. Financial terms were undisclosed.
"Incorporating ET into our Oil Field Logistics platform provides comprehensive, reliable and cost-effective logistical solutions to the Oil and Gas industry." Shameek Konar, Pilot Flying J Chief Strategy Officer.
Equipment Transport was advised by Houlihan Lokey and Winston & Strawn. Pilot Flying J was advised by Bracewell.
A leading global real estate services firm, has signed a definitive agreement to acquire Quality Solutions, a leading asset light facilities management provider, from Gridiron Capital. Financial terms were undisclosed.
“We are fortunate to have worked with such a strong and capable team at QSI and are proud of the success they have achieved. We have enjoyed building a strong partnership with this management team, and we look forward to QSI continuing its growth trajectory as an industry-leading provider of facilities management solutions with Cushman & Wakefield.” Scott Harrison, Gridiron Capital Managing Director.
Gridiron Capital was advised by Piper Jaffray and Finn Dixon & Herling.
Canada Pension Plan Investment Board will invest $500m in Oak Hill Capital's Berlin Packaging.
Oak Hill Capital Partners and Canada Pension Plan Investment Board have entered into a definitive recapitalization agreement with Berlin Packaging to facilitate the next stage of its growth. As part of the arrangement, CPPIB will make a $500m investment in the Berlin Packaging.
“Berlin Packaging is a market leader with a resilient business model built to deliver economic value and brand differentiation for its customers. Alongside our equity partner, Oak Hill, we look forward to supporting further growth and innovation by this industry-leading company that Andrew Berlin and his team have created, as Berlin Packaging continues to expand its value proposition to customers, suppliers, and employees.” Ryan Selwood, CPPIB Managing Director, Head of Direct Private Equity.
CPPIB was advised by Weil, Gotshal, and Manges.
Crescent secured $1.6bn in commitments to its new lending fund.
Crescent Capital Group, a leading alternative credit investment firm, closed its second direct lending fund, Crescent Direct Lending Fund II, with total equity commitments of approximately $1.6bn ($2.1bn including targeted leverage).
This fundraise is our firm’s largest direct lending effort to date. Its scale underscores both the number of direct lending opportunities in the U.S. and the confidence that existing and new investors have in our team, especially given the large amount of new entrants and capital into the direct lending space over the past few years." Jean-Marc Chapus, Crescent Capital Group Managing Partner and Co-Founder.
Venafi obtained $100m in the latest financing round, led by TCV.
Cybersecurity provider Venafi has raised $100m in its latest round of funding. The company is the developer of a platform that provides machine identity protection, securing communications and connections between machines.
The funding round was led by TCV, with NextEquity Partners and QuestMark Partners being additional investors.
