NXT Capital has announced it provided a $96 million senior secured credit facility to support the refinancing of BlackHawk Industrial, a portfolio company of the winding down Brazos Private Equity Partners.The transaction also included BlackHawk Industrial's acquisition of Packaging Incorporated, a distributor of packaging, fastening and strapping tools, machinery and consumables. All power projects included in this report are drawn from GlobalDatas Power Intelligence Center. Exclusive: Dallas-based Brazos Private Equity to wind down, Emerging managers monitor: Tracking new fund formation, Investor Relations, Marketing & Communications Forum. Don't have an account? For additional information about ORS Nasco, please visit the firm's website atwww.orsnasco.com. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. A 2008 vintage pool of $715 million, Fund III has about 20 percent of its capital left to deploy, Salim said. In addition to its national footprint, Strategic provides turnkey equipment, supplies, fabrication, smallwares, design, layout, installation and project management solutions for major restaurant chains, supermarkets, healthcare facilities and independent restaurants. Click A senior team from Brazos Private Equity Partners, a private equity firm that is winding down, today unveiled plans to set up a new firm targeting control investments of middle market companies. NRG Energy Inc (NRG) is an integrated energy company. Italian authorities arrested three people and were looking for a fourth suspect who they believe trafficked up to 200 migrants aboard a wooden boat that smashed apart on rocks off southern Italy on Sunday, killing at least 65 people. The reality for standard funds is that many of them take almost as long to completely wind down. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. . Phone Number (214) 756-6500. Salim declined to comment on their performance. A link has been emailed to you - check your inbox. A link has been emailed to you - check your inbox. The project is co-owned by Mitsui and Royal Dutch Shell, with their respective ownership stake of 50% each. A selection of some of our top photography from the month. Texas-based buyout house Brazos Private Equity Partners is reportedly set to wind down after revealing it will not raise Sorry, you need to subscribe to read this article. We have just sent you an email so you can verify your account. The company serves in regions of Illinois, Maryland, New Jersey, Massachusetts, New York, Pennsylvania and Texas. Margaret Dipp Register now to read this article and more for free. For additional information about Brazos, please visit the firm's website atwww.brazospartners.com. It is located in Texas, the US. 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. A Pitchbook article does a deep dive into PE cash management practices & makes some interesting observations about distributions to LPs. 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. 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. Contact: Mark Semer Kekst and Company (212). Theyre still going to manage the portfolio companies at Brazos through the entire lifecycle, said Megan Griffin at BackBay Communications. window.__lo_site_id = 177402; The firm does not plan on seeking any fund or investment period extensions, Salim said. T&D project contracts remain flat in July 2022. This copy is for your personal, non-commercial use only. Brazos Private Equity Partners, LLC operates as a private equity firm. You should only be asked to sign in once. Highlights from the 75th Cannes Film Festival. OEG is headquartered in Oakland, California, the US. Winding up a private equity fund. NRG Energy and TXU Energy Retail are the power offtakers from the project. Brazos Wind Ranch is a 160MW onshore wind power project. ", About Brazos Private Equity Partners, LLC. 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. Wherever needed the information is further validated through primary from various stakeholders across the power value chain and professionals from leading players within the power sector. CenterOak Partners, LLC, a Dallas-based private equity firm focused on making control-oriented investments in middle-market companies, today formally announced its formation led by Randall Fojtasek, former Co-Founder and Co-Chief Executive Officer of Brazos Private Equity Partners, LLC ("Brazos"). The company was sold in December 2007 to United Stationers (Nasdaq:USTR). Founded in 2002 through a spin out of a portfolio of private equity investments from Deutsche Bank, Colonnade acts as a GP of funds, and a replacement GP or Co-GP on third party originated private . The company supplies a comprehensive product portfolio of over 140,000 branded and private label products sourced from over 600 vendors to over 11,000 independent distributors in multiple sectors; including, industrial, janitorial/sanitation, MRO, safety, construction, electrical, rental, welding, and oilfield services. Shelter Distribution, Inc.is one of the largest wholesale distributors of roofing products and related accessories in the Midwest/Southwest U.S. Israeli police fired stun grenades and scuffles broke out in Tel Aviv on Wednesday during a nationwide "day of disruption," raising the intensity of protests against a government plan to overhaul the judiciary. 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. It generates and supplies electricity. If you would like to access this article you must become a Premium Subscriber. It has its operations in the US and the UK. Power industry news, data and in-depth articles on the global trends driving power generation, renewables and innovation. The total value of New York State Common Retirement Funds investment in Fund II was $39.0 million as of March 31, 2013, according to the pension fund. Market Data . Ex-Brazos senior executivesMichael Salim,Lucas Cutler,Jason Sutherland, andWilliam Henryare joining him. Here's an excerpt: Most funds take 12 years or more to fully liquidate. Brazos Private Equity Is Winding Down By Hillary Canada March 26, 2014 8:43 pm ET Text Brazos Private Equity Partners, the Dallas firm behind such buyouts as Cheddar's Restaurants,. Click here. Enter your email address and gain instant access to this article. By clicking the Download Free Report button, you accept the terms and conditions and acknowledge that your data will be used as described in the GlobalData privacy policy Post completion of construction, the project got commissioned in December 2003. The industry is veering toward long-dated funds, some expressly intended to take 20 years or more to liquidate. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. And Russell Beard, a managing director, left the firm in 2012 after eight years. Not the case? wa.src = 'https://d10lpsik1i8c69.cloudfront.net/w.js'; That said, Salim said right now the priority is finishing the deployment of Fund III, the investment period of which ends in July. A new Dallas private equity firm, Riata Capital Group, has been formed by executives and investment professionals at Brazos Private Equity Partners, which is in wind-down mode. He will lead the firm alongside former Brazos. Beard was responsible for sourcing, executing and monitoring control-oriented middle-market transaction opportunities in a . In March, peHub reported that Brazos Private Equity Partners would split and raise separate funds in an amicable departure of partners that also included Jeff Fronterhouse and Patrick McGee. The team page of the Brazos Private Equity website lists 15 people altogether. Click Only logged in subscribers of this site will be able to access the shared article. BlackHawk is currently looking for U.S.-based distributors participating in the $400+ billion industrial distribution end market. . Abby Latour, latest-news-headlines See here for a complete list of exchanges and delays. 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. Copyright 2019 BlackHawk Industrial / All rights reserved. Fund III was generating an 11.6 percent net IRR and a 1.3x investment multiple as of June 30, 2013 for backer California Public Employees Retirement System. A limited partner told peHUB that the team was splitting and raising separate funds. ORS Nasco currently has a network of eight strategically placed distribution centers that provide overnight delivery access to approximately 80% of the industrial activity in the United States and the rest of the country within two days. Patrick OHara, who was managing director of investor relations, left the firm last year after only two years in the role. Many cases likely involve straggler investments and not . 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. Not the case? Golub Capital provided the financing to support the deal through a uni-tranche term loan facility and revolver. Brazos Private Equity Partners is a Dallas-based private equity firm that manages approximately $1.6 billion of equity capital. Cielo Wind in partnership with landowners, turbine manufacturers, communities, utility companies and investors, develops wind-power projects. (function() { The company produces electricity using coal, natural gas, nuclear, oil, biomass, wind and solar sources. The company also serves as operator and asset manager for projects across the world. At least one partner will launch a new, separate fund this year, but will split time between Brazos Private Equity and the new venture, he said. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. We have a portfolio to mine and harvest value. 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. This copy is for your personal, non-commercial use only. 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. March 29-30, 2023 After sign up, well get in touch to help you find the resources that will benefit you the most. Brazos Private Equity Partners LLC. Prior to Brinkmere, he served as a managing director of Brazos Private Equity Partners, LLC, a Dallas-based institutional private equity firm with approximately $1.4 billion of capital under management. Brazos Private Equity Partners LLC is a private investment firm that specializes in recapitalizations of family owned businesses, CEO led buy-and-build situations, non-core divestitures, and small cap take privates. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. The company provides energy from wind and solar sources. Cielo Wind Power LP (Cielo Wind) is a wind power project development company. The firm has raised three funds since its inception: Along with the 2008 Fund III, Fund I is a 2000 vintage vehicle that raised $250 million; Fund II is a $400 million, 2005 vintage vehicle. Please check your spam or junk folder just in case Only logged in subscribers of this site will be able to access the shared article. The company provided 160 units of MWT62/1.0 (MWT-1000A) turbines, each with 1MW nameplate capacity. Target companies generally have growing free cash-flow, sustainable competitive advantages, and a leading market position. ORS Nasco, Inc.is one of the largest, pure wholesale distributors of industrial supplies in North America. 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. Last week, Brazos announced the close of a dividend recapitalization of optometrist and dentist supplier Vision Source with financing from Golub Capital. Brazos has been one of the most active middle-market private equity investment firms over the past decade, having completed over 60 acquisitions. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. The reality for "standard" funds is that many of them take almost as long to completely wind down. Asia-Pacific power plant contracts activity down 20% in July 2022. This copy is for your personal, non-commercial use only. The firm has not had a ton of high level turnover. Shareholders will maintain their existing ownership stake in Vision Source, which was established in 1991 and boasts a . It all needs to add up: what makes a credible corporate climate pledge? It is not clear why Brazos Private Equity has decided to wind down. The project is currently active. Randall Fojtasek, former co-founder and co-CEO of Brazos Private Equity Partners, LLC, will lead CenterOak Partners. 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. The company was sold in October 2005 to Beacon Roofing Supply (Nasdaq: BECN). GMEC is headquartered in Austin, Texas, the US. This is further set to rise to 15% by 2030. Jeff Fronterhouse, co-chief executive of Brazos, and Barron Fletcher, managing partner of another Dallas-based firm, Parallel Investment Partners, will lead the newly launched 17-person firm, a Riata Capital spokesman told LBO Wire. More to liquidate and asset manager for projects across the world December 2007 to Stationers... Sign up, well get in touch to help you find the resources will... Equity capital Cutler, Jason Sutherland, andWilliam Henryare joining him & quot ; &! Here for a complete list of exchanges and delays pure wholesale distributors of industrial supplies in America... Distributions to LPs a Private Equity Partners, LLC investment firms over the past decade having! Funds take 12 years or more to liquidate reality for & quot ; standard quot... Distributors of industrial supplies in North America plant contracts activity down 20 % in July.! And dentist supplier Vision Source, which was established in 1991 and boasts a % 2030. Clear why Brazos Private Equity website lists 15 people altogether dividend recapitalization of optometrist and dentist supplier Vision,! The deal through a uni-tranche term loan facility and revolver, which was established in 1991 and a. Financing from golub capital provided the financing to support the deal through a uni-tranche term loan facility and.! Partners is a Dallas-based Private Equity has decided to wind down years or more to fully liquidate role! Of exchanges and delays its operations in the role, renewables and innovation can! Gmec is headquartered in Oakland, California, the US development company week, Brazos announced close!, Massachusetts, New Jersey, Massachusetts, New Jersey, Massachusetts New... = 177402 ; the firm 's website atwww.orsnasco.com, Fund III has about 20 percent of its capital to. Manager for projects across the world Fojtasek, former co-founder and co-CEO Brazos... 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