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FalconPoint makes debut investment; Audax hires bank, co-advisers to review portfolio firms, say sources

Morning all, Craig McGlashan here with the Tuesday Wire.

We’re focusing on the industrial sector this morning, where Rafael Cantonbroke the news that FalconPoint Partners has made its first investment with the acquisition of ground control manufacturer Jennmar.

Next, sources tell Michael Schoeckthat Audax Private Equity has hired an investment bank and co-advisers to review strategic options for a group of portfolio companies, some of which are in the industrial sector.

We then round things out with Comvest Partners-backed GAI Consultants acquiring an engineering, planning and environmental consulting company.

Tunneling

PE Hub’s Rafael Canton this morning broke the news that FalconPoint Partners is today announcing its first deal, the acquisition of Pittsburgh-based ground control manufacturer Jennmar.

Rafael spoke with FalconPoint founder and managing partner Russell Gehrett about the New York-based firm’s first deal, its growth plans for Jennmar and its overall investment strategy.

You can read all of that in the subscriber version of the Wire.

Potential sales

Audax Private Equity has enlisted an investment bank and co-advisers to review strategic options that could include a potential sale of five portfolio companies whose initial investment dates go back to 2015, sources briefed on the matter told PE Hub’s Michael Schoeck.

Full details in the subscriber version of the Wire.

Engineering

Sticking with the industrial sector, and GAI Consultants, which is backed by Comvest Partners, has acquired Creighton Manning Engineering, an engineering, planning and environmental consulting firm based in Albany, New York.

OK that’s all from me today. Chris Witkowsky will be with you tomorrow for Wire Wednesday.

Cheers,

Craig

Read the full wire commentary on PE Hub ...

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