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Charlesbank bets on RIAs; Kinderhook backs trash compactors; Blue Road readies honey maker for sale

Good morning dealmakers, thank goodness it’s Friday.

It’s Obey Martin Manayiti here with the newsletter this morning.

Happy Groundhog Day, Hubsters. Good news: Punxsutawney Phil Predicts an early Spring!

And in PE deal news, Kinderhook Industries has acquired a company that provides sustainable waste containment infrastructure.

Up next, we have some wealth management news from Charlesbank Capital Partners.

We’ve also got a lead on a sweet sale process reportedly coming up from Blue Road Capital.

Finally, for our Friday listicle, we’re rounding out the week with a look at five PE deals leveraging the talent shortage and other HR complexities.

Waste management

Kinderhook Industries has acquired Phoenix-based Compactor Rentals of America (CRA), a provider of sustainable waste containment infrastructure.

The transaction represents Kinderhook’s 123rd environmental/business services acquisition since inception in 2003, according to the firm.

To learn more about this deal, please upgrade to the premium version of the Wire.

Wealth management

Charlesbank Capital Partners yesterday announced its investment of $250 million in Rise Growth Partners, a company that provides growth-oriented capital to registered investment advisers (RIAs).

David Katz, a managing director at the Boston firm told PE Hub that the deal was in part to tap compelling risk-adjusted returns in the wealth management space.

Subscribers to the premium version of the Wire can learn more on how Rise Growth will operate.

Sweet sale

Blue Road Capital is launching a review of Sweet Harvest Foods, sources familiar with the matter told  PE Hub’s Michael Schoeck. The producer of natural products, including honey, agave and molasses, is likely to attract PE sponsors focused on consumer products.

Subscribe to the premium version of the Wire for more.

Staffing up

The talent shortage in the US job market and increased complexity in managing employees are driving private equity investments in companies that offer multiple human resources-related services across different sectors.

I rounded up five deals here in this sector from TPG, MidOcean Partners, (CDPQ) and others.

Please upgrade to the premium version of the Wire to read more on these deals.

That’s it for today. MK Flynn will be back with more on Monday.  

Have a nice weekend,

Obey

Read the full wire commentary on PE Hub ...

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Can the government regulate privately negotiated contracts between sophisticated parties? This is one of the main points of contention being put to three judges at the Fifth Circuit Court of Appeals in New Orleans on Monday as business groups and industry bodies present oral arguments in a lawsuit against the US Securities and Exchange Commission’s private fund advisers rule. (Private Equity International)

Hedging: How some borrowers were caught out by rate rises. The 'higher for longer' scenario has resulted in some substantial cost increases. (Private Debt Investor)

Bridge Investment Group is doubling down on industrial net leases, officially launching a new vehicle to provide wider investor access to the sought-after sector. (Private Equity Real Estate)

Charlesbank Capital Partners has closed the third vintage of its opportunities fund at $1.5 billion, beating its target of $1.25 billion and nearly double the size of its predecessor fund. (Private Debt Investor)

Primary Venture Partners has completed a $95 million secondary strip sale to StepStone Group, generating liquidity for limited partners in its first fund, Venture Capital Journal has learned.

Speaking of StepStone, the firm announced a number of promotions, including eight new partners and 18 new managing directors. (Private Funds CFO)