News
PNC Equity Partners II, L.P. Announces the Recapitalization of Griffith Energy, Inc.
Pittsburgh, PA (May 21, 2009) - PNC Equity Partners II, L.P. is pleased to announce the recapitalization of Griffith Energy, Inc.
PNC Equity Partners II, L.P. is pleased to announce the addition of Lauren McKibben
Pittsburgh, PA (May 4, 2009) - PNC Equity Partners II, L.P. is pleased to announce the addition of Lauren McKibben, who joins the firm as Director of Business Development.
PNC Equity Partners II, L.P. Acquires APEX Analytix, Inc.
Pittsburgh, PA (April 28, 2009) – PNC Equity Partners II, L.P. announced today their acquisition of Greensboro, N.C.-based APEX Analytix, Inc. ("APEX"), an innovative recovery audit firm serving more than a third of the Fortune 100. APEX's traditional recovery audit services are enhanced by proprietary software tools that detect and recover payment errors for clients.
PNC Equity Partners II, L.P. Acquires Custom Orthotics Operations of Langer, Inc.
Pittsburgh, PA (October 24, 2008) – PNC Equity Partners II, L.P. announced today their acquisition of Langer, Inc.'s custom orthotics business, located in Deer Park, NY; the first add-on acquisition to its recent investment in The Orthotic Group, Inc. Langer has often been credited with creating the prescription foot orthotic industry and has played an integral role in the applied science of podiatric biomechanics. Headquartered in Markham, Ontario, The Orthotic Group ("TOG") is a leading manufacturer and distributor of custom prescription orthotics, orthotic footwear, and gait analysis equipment to health care professionals. TOG's business model focuses on serving the chiropractic, podiatric, and rehabilitation markets in North America, Europe, and Australia. Senior debt was provided by Bank of Montreal.
PNC Equity Partners II, L.P. Participates in the Recapitalization of Caldwell & Gregory LLC
Pittsburgh, PA (October 24, 2008) – PNC Equity Partners II, L.P. announced today their participation in the recapitalization of Caldwell & Gregory LLC to provide additional capital for growth. Headquartered in Manakin-Sabot, VA, Caldwell & Gregory is the leading provider of laundry equipment and laundry rooms for colleges, apartments, condominiums, coin laundries and on-premise equipment for small and large businesses.
PNC Equity Partners II, L.P. Acquires C-Clear Inc. Division of Shannon Optical
Pittsburgh, PA (October 10, 2008) – PNC Equity Partners, L.P., announced today their acquisition of the C-Clear Inc. division of Shannon Optical Co., Inc., located in Bridgeville, PA, the Fifth add-on acquisition to its investment in Hilsinger Holdings, Inc. C-Clear is a leading manufacturer and distributor of industrial safety eyewear care products. Headquartered in Plainville, MA, Hilsinger Holdings, Inc ("Hilsinger") distributes the industry's broadest line of optical and ophthalmic products with over 20,000 products that are primarily sold under several well-recognized brand names. Hilsinger sells its products through numerous independent opticians, optometrists and ophthalmologists, optical chains, independent distributors, mass merchants and other retailers located in North America and Western Europe.
PNC Equity Partners II, L.P. Acquires The Orthotic Group
Pittsburgh, PA (September 25, 2008) – PNC Equity Partners II, L.P. announced the acquisition of The Orthotic Group. Headquartered in Markham, Ontario, The Orthotic Group ("TOG") is a leading manufacturer and distributor of custom prescription orthotics, orthotic footwear and gait analysis equipment to health care professionals ("HCPs") in the chiropractic, podiatric and rehabilitation markets in North America, Europe and Australia.
PNC Equity Partners II, L.P. Acquires The Country Vintner
Pittsburgh, PA (August 29, 2008) – PNC Equity Partners II, L.P., a private equity fund affiliated with The PNC Financial Services Group, Inc., announced the acquisition of The Country Vintner. Headquartered in Ashland, Virginia, The Country Vintner ("TCV") is the second largest distributor of fine wines in the United States and the market leader in the Mid-Atlantic franchise states. TCV's business model focuses on providing on-premise retailers ("white tablecloth" restaurants), off-premise retailers and chain retailers with a diverse mix of more than 500 wine labels from around the world. Senior debt was provided by Bank of America, and subordinated debt was provided by BB&T Mezzanine Capital Partners.
Michael B. Hand Rejoins PNC Equity Partners II, L.P.
Pittsburgh, PA (August 2008) – Michael B. Hand, Senior Associate, originally joined PNC Equity Partners in 2003 and returned in 2008.
Prior to joining the firm, Mike worked as an investment banking analyst at Raymond James & Associates, where he primarily focused on mergers & acquisitions and private placements. While at business school, he was a summer associate at J.F. Lehman & Company.
PNC Equity Partners II, L.P. Announces the Promotion of Michael Rost
Pittsburgh, PA (August 2008) – PNC Equity Partners II, L.P., announced the promotion of Michael Rost to Senior Associate.
Michael joined PNC Equity Partners in 2006 as an Associate. He currently serves as a director of The Country Vintner and is a member of the deal teams for Bacharach and The Hilsinger Company.
PNC Equity Partners II, L.P. Announces the Sale of Home Made Brand Foods, Inc.
Pittsburgh, PA (April 29, 2008) – PNC Equity Partners ("PNC Equity") announced today the sale of Home Made Brand Foods, Inc. ("HMBF"), a portfolio investment of PNC Equity Partners, L.P., to Greencore Group plc, one of Europe's leading convenience food and malt producers.
PNC Equity Partners II, L.P. Acquires Bacharach, Inc.
Pittsburgh, PA (September 2007) – PNC Equity Partners II, L.P., a private equity fund affiliated with The PNC Financial Services Group, Inc., announced today the acquisitions of Bacharach, Inc. and Bacharach of Canada, Inc. Headquartered in New Kensington, Pennsylvania, Bacharach is a leading manufacturer of gas analysis and detection instruments and refrigerant monitoring and recovery products. PNC Equity invested equity and subordinated debt to finance the transaction and is the Company’s largest shareholder. Senior debt was provided by Madison Capital Funding. Additional subordinated debt and equity was provided by Calvert Street Capital Partners and Management. Terms of the transaction were not disclosed.
PNC Equity Partners II, L.P. Acquires Lone Star Overnight from Brazos Equity Partners
Pittsburgh, PA (May 2007) – PNC Equity Partners II, L.P. (PNC Equity), the private equity affiliate of The PNC Financial Services Group, Inc. announced today the acquisition of Lone Star Overnight in May, 2007. Headquartered in Austin, Texas, Lone Star is the largest regional express package delivery company operating exclusively in the Southwestern United States. Equity financing for the transaction was provided by PNC and management. Debt financing was provided by Merrill Lynch and New Canaan Partners.
PNC Equity Partners, L.P. Acquires The Hilsinger Company
Pittsburgh, PA (December 29, 2006) – PNC Equity Partners, L.P. (PNC Equity), the private equity affiliate of The PNC Financial Services Group, Inc. announced today the acquisition of Hilsinger Holdings, Inc. Headquartered in Plainvile, Mass., Hilsinger is a leading provider of eyewear and eye care accessory products and supplies in the U.S. and Western Europe.
PNC Equity Partners, L.P. Acquires The Faucet Queens, Inc. from Masco Corporation
Pittsburgh, PA (April 25, 2006) – PNC Equity Partners, L.P. (PNC Equity), the private equity affiliate of The PNC Financial Services Group, Inc. announced today the acquisition of The Faucet Queens, Inc. (“Faucet Queen”) from Masco Corporation. Headquartered in Vernon Hills, IL, Faucet Queen is the leading innovator and marketer of convenience-oriented home hardware products to the food and drug retail channel. Faucet Queen’s management and Citizens Ventures, Inc. also invested in the transaction, and the senior debt financing was provided by CapitalSource.
PNC Equity Partners Acquires the Wood Products and Services Divisions from RailWorks Corporation
Pittsburgh, PA [October 22, 2005] - PNC Equity Partners, the private equity affiliate of The PNC Financial Services Group, Inc., and the management team announced today the acquisition of four subsidiaries of RailWorks Corporation forming the new Tangent Rail Corporation. With headquarters in Pittsburgh, Pa., Tangent Rail is a leading provider of maintenance of way products and services to the railroad industry. PNC Equity Partners provided $13.2 million of equity to finance the transaction. Senior debt was provided by Merrill Lynch Capital and subordinated debt was provided by Babson Capital Management LLC.
PNC Equity Partners is pleased to announce the addition of Jonathan B. Lewis
Pittsburgh, PA [August, 2005] - PNC Equity Partners is pleased to announce the addition of a new deal professional, Jonathan B. Lewis, who joins the firm as a Senior Associate.
PNC Equity Partners and Management Recapitalize Home Made Brand Foods
Pittsburgh, PA [May 3, 2005] - On May 3, 2005, PNC Equity Partners and Management led a recapitalization of Home Made Brand Foods, a leading manufacturer of prepared foods, prepared salads, hot food entrees, chilled entrees and desserts. PNC Equity Partners provided $10.4 million of equity and subordinated debt to finance the transaction.
PNC Equity Partners Acquires Portec Group International, Inc.
Pittsburgh, PA [March 24, 2005] - On March 24, 2005, PNC Equity Partners acquired Portec Group International, a leading designer, manufacturer and marketer of components and sub-systems used in the material handling industry. PNC Equity Partners provided $12.8 million of equity and $5.0 million of subordinated debt to finance the transaction. Senior debt was provided by General Electric Capital Corporation.
PNC Equity Partners Leads Acquisition of MG Industries' Gas Technology & Services Group
Pittsburgh, PA [October, 2005] - In late October, PNC Equity Partners led the acquisition of Messer Griesheim (MG) Industries Inc. Gas Technology & Services Group (GT&S). PNC Equity Partners worked with the company's management team to purchase the business from French chemicals company, Air Liquide, just five months after Air Liquide completed its acquisition of MG Industries. Air Liquide's divestiture of GT&S was completed for strategic reasons and in cooperation with a Federal Trade Commission mandate that Air Liquide divest certain assets it acquired from MG Industries.
