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Juggernaut sells Nature’s One to Bobbie Bay; TT Capital Partners seeks to alleviate loneliness

Good morning, Hubsters. MK Flynn here with today’s Wire.

Happy Monday. I’ve just returned from a few days in Vermont and Massachusetts, where I enjoyed the New England scenery and ate a lot of fresh blueberries and maple syrup. I hope you had a good weekend too!

On the dealmaking front this morning, a couple of transactions caught our attention, one involving baby formula and the other involving property management services.

We’ve also got a look inside a PE deal that involves technology to help identify people at risk for loneliness, a growing problem in the US.

Let’s start with today’s deals.

Baby formula

Juggernaut Capital Partners has sold Nature’s One, a Lewis Center, Ohio-based pediatric nutrition company, to Bobbie Bay, which specializes in European style organic baby formula, as Iris Dorbian reports.

Upgrade to the premium version of PE Hub’s Wire to learn more about the deal, and the role Nature’s One plays in the industry.

Multifamily dwellings

The RMR Group has agreed to acquire 100 percent of the equity interests in MPC Partnership Holdings, doing business as CARROLL, a provider of management services to multifamily properties, in an all-cash transaction for $80 million, subject to customary purchase price adjustments, with the potential for incremental earnout consideration up to $20 million based on the deployment of future capital.

To learn more about why the company is poised for future growth, upgrade to the premium version of the Wire.

Predictive model

The US Surgeon General Vivek Murthy recently warned of a loneliness epidemic hitting the country.

TT Capital Partners, a Bloomington, Minnesota-based private equity firm is stepping up to the table with a recent majority investment in Pyx Health, a Tucson, Arizona-based provider of technology and support that reduces loneliness.

PE Hub reporter Obey Martin Manayiti spoke with Dawn Owens, TTCP partner and CEO, on what enticed the firm to invest in this space.

To read the interview, sign up for the premium version of the Wire.

That’s all for today. I’ll be back with more tomorrow. In the meantime, I’d love to hear from you at my new email address: mk.flynn@pei.group

See you tomorrow,

MK

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

European buyout firm Permira last week said it had agreed to pick up a 40 percent stake in Spanish fund of funds manager AltamarCAM. Private Equity International caught up with José Luis Molina, managing partner and chief executive at AltamarCAM, to find out more about the rationale behind the transaction, what it means for LPs and the firm’s near-term plans.

Plymouth County Retirement Association, a $1.3 billion system in Massachusetts, said it will commit $30 million to three private equity funds this year and provided insights into who they will invest with. (Buyouts)

H1 fundraising: In the first half, private equity fund sizes were larger, GPs spent even more time on the road and targets were still being hit. (Buyouts)

Nuveen has added farmland to its partnership with iCapital, a platform through which it already offers wealth management advisers access to its private equity, credit and real estate strategies. (Agri Investor)

Glendower Capital, the fourth-largest UK-headquartered secondaries firm according to the SI 50, has closed its latest flagship on $5.8 billion. (Secondaries Investor)

In a comparatively short span of time, energy storage developer Eku Energy has gained a foothold in several major battery markets. Chris Morrison, head of emerging technology at Macquarie Asset Management’s Green Investment Group, owner of Eku, explained to Infrastructure Investor what drives GIG’s focus on batteries.

Tikehau will seek between €2 billion and €3 billion for its second decarbonization fund, a growth equity and buyout strategy that will launch towards the end of 2023. (New Private Markets)