The first business day of 2025 saw five private equity and credit transactions in the U.S. and Canada, including acquisitions by Next Edge Capital, H.I.G Capital, One Equity Partners, and Truelink Capital, plus an exit by Turning Rock Partners.
Next Edge Capital acquires Dundee’s CMP flow-through business for undisclosed sum
Next Edge Capital completed its acquisition of Dundee Corporation’s CMP flow-through business, forming CMP Next Edge as a joint venture with former Dundee President Mark Goodman. Financial terms were not disclosed.
The CMP brand, known for flow-through limited partnerships in Canada since the 1980s, will continue under new management. The Dundee Resource Class will be renamed to CMP Next Edge Resource Fund, with Next Edge taking over as investment fund manager and portfolio manager for both this fund and CMP 2023 Resource Limited Partnership.
Montreal-based Palos Wealth Management will serve as investment advisor to both funds and future CMP Resource Limited Partnership offerings. CMP Next Edge plans to launch new flow-through offerings, with the first expected in the first half of 2025.
Turning Rock Partners exits Next Level Aviation investment
Turning Rock Partners completed its exit from Next Level Aviation, a Sunrise, Fla.-based company, following a preferred equity investment made in December 2019. The investment supported inventory purchases, geographic expansion, and consignment deals. During its ownership, Turning Rock secured an asset-based lending facility during the 2020 COVID market disruption, and supported the expansion of Next Level’s Florida warehouse and establishment of an Irish subsidiary. The exit marks Turning Rock’s 18th realization since its founding in 2017.
H.I.G. Capital acquires Best Version Media
H.I.G. Capital completed its acquisition of Best Version Media, a provider of localized advertising solutions for small and medium-sized businesses. Based in Brookfield, Wisc., Best Version Media serves over 30,000 SMB clients through community publications and digital advertising across the U.S. and Canada. The company plans to expand its product and service offerings to customers and publishers following the acquisition. Terms were not disclosed.
Truelink Capital closes acquisition of exhibition services provider GES
Truelink Capital completed its acquisition of GES from Viad Corp. The transaction includes GES Exhibitions, which provides global exhibitions and logistics services; Spiro, a global experiential agency; and onPeak, SHOWTECH, and Visit, which provide event accommodation, power/lighting, and registration services. Termswere not disclosed.
One Equity Partners closes EthosEnergy acquisition
One Equity Partners completed its acquisition of EthosEnergy, a global service provider specializing in rotating equipment for power generation, energy, industrial, and aerospace and defense markets. Financial terms were not disclosed.
