News
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 LoneStar 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 LoneStar Overnight in May, 2007. Headquartered in Austin, Texas, LoneStar 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 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.
