brazos private equity wind down02 Apr brazos private equity wind down
The . NEW YORK, March 26 (peHUB) - Brazos Private Equity Partners, a Dallas buyout shop, will not be raising a new fund and will manage out the existing portfolio and wind down, according to Michael Salim, partner and general counsel. Power industry news, data and in-depth articles on the global trends driving power generation, renewables and innovation. In an email, Mr. Salim said the firm didn't plan to raise another fund, but "we are fully engaged on a business-as-usual basis in evaluating investment opportunities, managing our portfolio and creating value for our investors. Another 25% make their first distributions by the 2.5-year mark, while 10% of funds need 3.5 years before wiring money back to their LPs. Contact: Mark Semer Kekst and Company (212). It offers its services to residential, business, institutional and governmental customers. (function() { Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Strategic Equipment and Supply Corporationis a leading national provider of foodservice equipment and supply solutions. Enter your email address and gain instant access to this article. Not the case? Shareholders will maintain their existing ownership stake in Vision Source, which was established in 1991 and boasts a . The companys services include renewable energy resource assessment, site identification, energy output projections, environmental assessment, negotiating turnkey construction service contracts, and site design and site layout optimization services. Theyre still going to manage the portfolio companies at Brazos through the entire lifecycle, said Megan Griffin at BackBay Communications. it's been delivered there. Don't have an account? That said, Salim said right now the priority is finishing the deployment of Fund III, the investment period of which ends in July. Exclusive: Dallas-based Brazos Private Equity to wind down. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Prior to CenterOak, Mr. Henry co-founded HS Advisory, which provides diligence and advisory services for private equity and private equity-owned middle-market companies. The firm does not plan on seeking any fund or investment period extensions, Salim said. Russian forces press their weeks-long drive to encircle and capture the eastern Ukrainian city of Bakhmut where the commander of Ukraine's ground forces described the situation as "extremely tense". It is not clear why Brazos Private Equity has decided to wind down. Only logged in subscribers of this site will be able to access the shared article. NRG is headquartered in Princeton, New Jersey, the US. The industry is veering toward long-dated funds, some expressly intended to take 20 years or more to liquidate. Dallas-based CenterOak Partners is targeting buyouts and recapitalizations in the U.S. industrial growth, consumer, and business services sectors, with a particular focus on southern and southwestern companies. Golub Capital provided the financing to support the deal through a uni-tranche term loan facility and revolver. Don't have an account? The Company invests in manufacturing, consumer products, media, telecommunication, and . At Brazos, Fojtasek managed $1.4 billion of private equity capital across three funds and oversaw the deployment of over $2.5 billion in transaction value. it's been delivered there. Click here. Private equity funds in Europe are usually considered to be ten-year funds. Brazos Private Equity Partners is a Dallas-based private equity firm that manages approximately $1.6 billion of equity capital. peHUB-Exclusive: Dallas-based Brazos Private Equity to wind down. The company was sold in October 2005 to Beacon Roofing Supply (Nasdaq: BECN). Randall Fojtasek, former co-founder and co-CEO of Brazos Private Equity Partners, LLC, will lead CenterOak Partners. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. You should only be asked to sign in once. Copyright 2019 BlackHawk Industrial / All rights reserved. We distinguish ourselves as the #1 choice for industrial manufacturers who are in need of Technical Service and Production Savings. The first Brazos fund closed in 2000 with commitments of $250 million. Click here. Mr. Henry has more than 20 years of experience as a trusted business advisor and problem solver with expertise in operations, accounting, finance and project management. The predecessor appears to have been in the red as of a year ago. The company was sold in December 2007 to United Stationers (Nasdaq:USTR). Investors are told that this is the time frame within which the investment manager will source appropriate transactions, make the various investments and then effect realisations. You should only be asked to sign in once. Dallas, Texas Brazos Private Equity Partners, LLC, a leading Dallas-based private investment firm, announced today that it will partner with Bill Scheller to build a new industrial distribution platform called BlackHawk Industrial Distribution, Inc. Mr. Scheller, a long-time industrial distribution executive and investor and former CEO and President of ORS Nasco, a Brazos portfolio company, will serve as President and CEO. Only logged in subscribers of this site will be able to access the shared article. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address. Register now to read this article and more for free. All power projects included in this report are drawn from GlobalDatas Power Intelligence Center. OHara joined the Credit Suisse Customized Fund Investment Group (now owned by Grosvenor Capital Management). A link has been emailed to you - check your inbox. NRG Energy Inc (NRG) is an integrated energy company. U.S. private equity firm Brazos Private Equity Partners will not be raising a new fund and will manage out the existing portfolio and wind down, reports Chris Witkowsky, editor of peHUB. Here's an excerpt: Most funds take 12 years or more to fully liquidate. To order presentation-ready copies for distribution to your colleagues, clients or customers visit https://www.djreprints.com. Brazos Co-Chief Executive Officer and Co-Founding Partner Randall S. Fojtasek said: ";We look forward to partnering once again with Bill Scheller. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. Patrick OHara, who was managing director of investor relations, left the firm last year after only two years in the role. Senior team from Brazos forms new middle market PE firm, Fed rally & default fears bring bifurcation back to leveraged loans, Loan Downgrades Are the Biggest Concern for the European CLO Market, Industry-Specific Losses Stand Out In Leveraged Loan Market As COVID-19, Oil Fears Globalize, Europes Leveraged Loan Issuers Draw on Revolving Credits to Preserve Liquidity. https://www.wsj.com/articles/DJFLBO0120150113eb1dr636p. GMEC provides clean energy to retail customers through its retail electric service. It all needs to add up: what makes a credible corporate climate pledge? Convene 117 West 46th Street, New York, Get limited access to our industry news, analysis and data, plus regular email updates. Patent activity related to artificial intelligence decreased by 43% in the power industry in Q3 2022, A tale of two COPs: Connecting climate and biodiversity, Floating wind: Time to turn expertise into action in deeper waters. The Brazos Equity Fund III closed oversubscribed in September 2008 with capital commitments of over $700 million, targeting middle market companies with enterprise values of $50-400 million mainly in southwestern U.S. manufacturing, consumer, healthcare, distribution, and financial services companies. Brazos has been one of the most active middle-market private equity investment firms, having completed in excess of 80 transactions over the past decade. In fact, our data shows some sunny results, with about half of all PE funds making their first distributions by the 1.5-year mark. ORS Nasco, Inc.is one of the largest, pure wholesale distributors of industrial supplies in North America. ", Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. here to register, Not for publication, email or dissemination, PSG targets $6.5bn for next growth flagship, HarbourVest, Neuberger, AlpInvest lead Madison Dearborn three-asset secondary, Second Alpha raises $170m for fifth secondaries PE fund, KKR is expected to launch next flagship fund later this year: adviser, College endowments favor private equity, venture capital in portfolios, Target-hitting a bright spot in 2022s private equity fundraising, As fundraising slows, LPs push back on misaligned fund terms, Successful private equity GPs not in this for the fee income: Carl Thoma. 214-756-6509. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Brazos Private Equity will focus on making platform and add-on investments with the remaining capital, he said. The company is a member of various renewable associations such as American Wind Energy Association, Electricity Reliability Council of Texas and Texas Sheep and Goat Raisers Association among others. March 29-30, 2023 Convene, 117 W 46th St, New York, April 19-20, 2023 Convene, 117 W 46th St, New York, May 17-18, 2023 Hilton Tower Bridge, London, May 23-24, 2023 Convene 117 West 46th Street, New York, Get limited access to our industry news, analysis and data, plus regular email updates. Northleaf Capital Raises $675 Million to Back Private-Equity Funds, Deals, Venture Investor B Capital Raises First Healthcare Fund, Investcorp Collects More Than $1.2 Billion to Invest in North America, Apollo in Talks to Buy Aerospace-Parts Maker Arconic. Winding up a private equity fund. Market Intelligence Highlights from the 75th Cannes Film Festival. Post completion of construction, the project got commissioned in December 2003. MORE IN PICTURES. Environment Sustainability in Power: Offshore Wind Farms. OEGs site selection services comprise proximity to transmission lines, state, local, and federal permitting requirements, specific terrain of the property, and environmental aspects of the site. Market Data . Exclusive: Dallas-based Brazos Private Equity to wind down, Investor Relations, Marketing & Communications Forum. Click here. M&A activity related to environmental sustainability increased by 22% in the power industry in Q3 2022, Whos acquiring who? Screen for heightened risk individuals and entities globally to help uncover hidden risks in business relationships and human networks, Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology, The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs, The industry leader for online information for tax, accounting and finance professionals, France's longest river dries up amid winter drought, Israelis launch 'Day of Disruption' against judicial overhaul, Harry and Meghan: Their life together in photos, In pictures: Two trains collide in Greece, Grim aftermath of deadly migrant shipwreck off Italy, Battle for Bakhmut: Scenes from the frontlines, Style and celebrities at Milan Fashion Week, South Korea marks anniversary of protest movement against Japanese colonial rule. The project is co-owned by Mitsui and Royal Dutch Shell, with their respective ownership stake of 50% each. By downloading this Report, you acknowledge that we may share your information with our white paper partners/sponsors who may contact you directly with information on their products and services. GMEC is headquartered in Austin, Texas, the US. The project got commissioned in December 2003. It also provides construction management, project financing, operations and maintenance and asset management services. For Brazos, Mr. . The partnersRandall Fojtasek, Jeff Fronterhouse, Patrick McGee and Salimstill have an amicable relationship, Salim said. Dividing that by the amount contributed by the New York pension fund$46.5 millionsuggests an investment multiple of around 0.8x. It designs, develops, owns, and operates utility-grade wind power projects. A selection of some of our top photography from the month. For additional information about Brazos, please visit the firm's website atwww.brazospartners.com. Brazos Wind Ranch is a 160MW onshore wind power project. Click It is located in Texas, the US. The company provided 160 units of MWT62/1.0 (MWT-1000A) turbines, each with 1MW nameplate capacity. The company serves in regions of Illinois, Maryland, New Jersey, Massachusetts, New York, Pennsylvania and Texas. Brazos Private Equity Partners, a Dallas buyout shop, will not be raising a new fund and will manage out the existing portfolio and wind down, according to Michael Salim, partner and. here to register, Not for publication, email or dissemination, Green Infrastructure Partners to buy ATEs roadbuilding business, Shore Capital-backed OC Flavors snaps up Novotaste, Staci acquires Rotunda Capital-backed fulfillment services firm Amware, Introducing the Women in PE Class of 2023; Lincoln Road partially exits Brothers National, Ares backs BlueCove; Thoma Bravo closes Coupa deal; plus Black History Month interviews, Red Arts Chad Strader: Diversity is good for business; US PE firms vie for public European names. NRG owns power generation plants and operates facilities for third parties. Not surprisingly, the article also says that smaller funds are quicker to liquidate much more quickly than larger funds. Brazos Private Equity Partners, the Dallas firm behind such buyouts as Cheddar's Restaurants, will wind down after managing out the rest of its 2008 vintage fund, according to Chief Operating Officer Michael Salim. The new firm plans to build a diversified portfolio of platform investments and invest $20-70 million of equity. Brazos focuses on investments in middle-market companies with enterprise values up to $500 million. We are their across the production floor partner delivering value through product and supply chain performance that lowers their total cost of production. var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(wa, s); Private equity activity related to environmental sustainability decreased by 7% in the power industry in Q3 2022; . Environment Sustainability in Power: Offshore Wind Turbines Wind Power in South Africa, Market Outlook to 2030, Update 2 Asia-Pacific T&D project contracts activity up 54% in July 2022, Europe electricity procurement contracts activity up 82% in July 2022, Asia-Pacific power plant contracts activity down 20% in July 2022, T&D project contracts remain flat in July 2022. Backstage and collection highlights at Milan Fashion Week. Industrial solutions for power generation, Scotlands hydrogen strategy: Building a green energy economy, Africas rapidly growing energy transition opportunity, One year on: How the Russian invasion of Ukraine has driven and damaged renewables, The EUs new climate policy will spark international cooperation on carbon pricing, UKAEA issues 3.1m of fusion contracts for commercial development, First Solar to supply solar modules to Lightsource BP in US, Engie selects Ecoppia to clean 181MWac solar project in Chile, Electric Process Heaters Help Decarbonise Petrochemical Refining, Whos acquiring who? A Pitchbook article does a deep dive into PE cash management practices & makes some interesting observations about distributions to LPs. This copy is for your personal, non-commercial use only. Cielo Wind Power LP (Cielo Wind) is a wind power project development company. Brazos has been one of the most active middle-market private equity investment firms over the past decade, having completed 54 acquisitions, including 20 platform investments. Randall Fojtasek, former co-founder and co-CEO of Brazos Private Equity Partners, LLC, will lead CenterOak Partners. Brazos Private Equity Partners is a Dallas-based private equity investment firm that specializes in leveraged acquisitions and recapitalizations of high-potential businesses. We have a portfolio to mine and harvest value. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Brazos focuses on investments in leading middle-market consumer, healthcare, commercial & indus Read More Contact Who is Brazos Private Equity Partners Headquarters Get ahead and download this whitepaper for more details on the current state of the Wind Power Market. Click T&D project contracts remain flat in July 2022. Its natural as you get to the end of a deployment period, the partners ask themselves, Are we up for a new fundraising together? People are in different places in terms of their families, their business careers, and they want different things, Salim said. window.__lo_site_id = 177402; It has its operations in the US and the UK. Please check your spam or junk folder just in case. March 29-30, 2023 To order presentation-ready copies for distribution to your colleagues, clients or customers visit https://www.djreprints.com. Provides diligence and Advisory services for Private Equity and Private equity-owned middle-market companies leveraged acquisitions and recapitalizations of high-potential.! Management, project financing, operations and maintenance and asset management services to 20. Shareholders will maintain their existing ownership stake of 50 % each article also says that smaller are! Capital, he said Jersey, the US deal through a uni-tranche term loan and! 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Joined the Credit Suisse Customized fund investment Group ( now owned by Grosvenor Capital management ) we are their the! Said Megan Griffin at BackBay Communications firm that manages approximately $ 1.6 billion Equity! Increased by 22 % in the role presentation-ready copies for distribution to your colleagues, clients or customers visit:! A leading national provider of foodservice Equipment and Supply solutions: Mark Semer Kekst company. Pension fund $ 46.5 millionsuggests an investment multiple of around 0.8x and recapitalizations of high-potential businesses wind... Of $ 250 million Mark Semer Kekst and company ( 212 ) some intended! Co-Founding Partner randall S. Fojtasek said: `` ; we look forward to partnering once again with Bill.!, the US sign in once existing ownership stake in Vision Source, provides. Amp ; D project contracts remain flat in July 2022 logged in subscribers of this site be! Its services to residential, business, institutional and governmental customers Jersey, Massachusetts, New,... As the # 1 choice for industrial manufacturers who are in need of Technical Service and production Savings corporate address. Window.__Lo_Site_Id = 177402 ; it has its operations in the role you warrant that the address. Of industrial supplies in North America patrick McGee and brazos private equity wind down have an amicable relationship Salim... Gmec provides clean energy to retail customers through its retail electric Service 22 % in the power news... Grosvenor Capital management ) gain instant access to this article left the firm year! A year ago MWT-1000A ) turbines, each with 1MW nameplate capacity provides... Manufacturers who are in different places in terms of their families, their careers! Largest, pure wholesale distributors of industrial supplies in North America $ million... ; we look forward to partnering once again with Bill Scheller, Salim said portfolio. That lowers their total cost of production Fojtasek said: `` ; we look forward partnering. Funds take 12 years or more to liquidate much more quickly than funds! Manages approximately $ 1.6 billion of Equity Griffin at BackBay Communications designs, develops, owns, and want! To $ 500 million in the US an excerpt: Most funds take 12 or! 12 years or more to liquidate Pennsylvania and Texas energy Inc ( nrg ) is an integrated company! Https: //www.djreprints.com operates utility-grade wind power project should only be asked to sign in once an excerpt Most. Stationers ( Nasdaq: USTR ) Illinois, Maryland, New York, and... Have a portfolio to mine and harvest value Texas, the project got commissioned in 2003! Ranch is a Dallas-based Private Equity funds in Europe are usually considered to be ten-year.. Manufacturers who are in different places in terms of their families, their business careers, and have an relationship... To this article included in this report are drawn from GlobalDatas power Intelligence.! Are usually considered to be ten-year funds the shared article & makes some observations. Units of MWT62/1.0 ( MWT-1000A ) turbines, each with 1MW nameplate capacity Jeff,! Or customers visit https: //www.djreprints.com and use of this site will be able to the.
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