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. 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. He said management fees wont change and will be necessary to pay the team to deploy Fund III and manage out the firms existing investments. 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. Don't have an account? 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. 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. The project got commissioned in December 2003. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. March 29-30, 2023 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 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. content GMEC is headquartered in Austin, Texas, the US. ", Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Backstage and collection highlights at Milan Fashion Week. Insight. It also offers carbon offset programs. Shareholders will maintain their existing ownership stake in Vision Source, which was established in 1991 and boasts a . Heres an excerpt: Most funds take 12 years or more to fully liquidate. https://www.wsj.com/articles/DJFLBO0120150113eb1dr636p. esgSubNav, Discover more about S&P Globals offerings, Global Economies in Flux: Drive Decisions with the Purchasing Managers Index (PMI) Data, The Natural Language Processing (NLP) Revolution and ChatGPT: An Introduction to the field, our latest research, and how Kensho is empowering businesses to make the most of these technologies, 10:00 - 11:00 am EST | 4:00 - 5:00 pm CET, Long Beach Convention & Entertainment Center. 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". Click here. The company offers comprehensive line of residential/commercial roofing products and accessories as well as insulation, siding, windows, doors and other building materials. Many cases likely involve straggler investments and not the lions share of a funds portfolio, which may be sold off well within a 5 to 7-year time frame. We are their across the production floor partner delivering value through product and supply chain performance that lowers their total cost of production. Contact: Mark Semer Kekst and Company (212). it's been delivered there. Register now to read this article and more for free. The project is currently active. MORE IN PICTURES. 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. 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 . Brazos focuses on investments in middle-market companies with enterprise values up to $500 million. Information, analytics and exclusive news on financial markets - delivered in an intuitive desktop and mobile interface. 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. The . Vision Source, a network of independent optometrists and dentists in the portfolio of Brazos Private Equity Partners, has completed a dividend recapitalization. Proxy Disclosure & 20th Annual Executive Compensation Conferences, Cross-Border: Key Trends Driving Global M&A, SPACs Seek Relief for Defective de-SPAC Charter Amendments, Antitrust: The FTC Wants More Time for Merger Reviews, 8911 N Capital of TX Hwy, Suite 4200-110, Austin, TX 78759. Brazos Private Equity will focus on making platform and add-on investments with the remaining capital, he said. It also provides construction management, project financing, operations and maintenance and asset management services. Phone Number (214) 756-6500. You should only be asked to sign in once. Shelter Distribution, Inc.is one of the largest wholesale distributors of roofing products and related accessories in the Midwest/Southwest U.S. Friday, May 20, 2022. Theyre still going to manage the portfolio companies at Brazos through the entire lifecycle, said Megan Griffin at BackBay Communications. Salim wouldnt go into detail but said some partners are in talks to start up their own ventures or join new firms. 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. peHUB-Exclusive: Dallas-based Brazos Private Equity to wind down. CenterOak Partners, LLC ("CenterOak" or the "Firm"), 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"). Market Intelligence 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. In June, Brazos-backed wine distributor Winebow placed debt backing a merger with Vintner Group, a portfolio company of Brockway Moran & Partners. Margaret Dipp Facility Maintenance, Repair & Operations, Brazos Private Equity Partners and Bill Scheller seek to build a new industrial distribution platform. Brazos focuses on investments in middle-market companies with enterprise values up to $500 million. And Russell Beard, a managing director, left the firm in 2012 after eight years. A re-enactment of the March First Independence Movement was held honoring the national holiday and 1919 demonstrations that called for independence from Japan. Brazos has a long runway ahead of it. We remain good friends, and weve told ourselves that we want our process as we wind up the Brazos deployment cycle to be a model for how people do this, he said. A link has been emailed to you - check your inbox. Winding up a private equity fund. ORS Nasco, Inc.is one of the largest, pure wholesale distributors of industrial supplies in North America. Best of Cannes Film Festival. For additional information about Brazos, please visit the firm's website atwww.brazospartners.com. Brazos Private Equity Partners is a Dallas-based private equity firm that has managed investment funds with approximately $1.4 billion of equity capital since inception. Brazos Private Equity Partners, LLC operates as a private equity firm. 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. 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. A selection of some of our top photography from the month. For Brazos, Mr. NRG sells energy, services and associated products and services to retail customers under the NRG, Reliant, Green Mountain Energy, Stream and XOOM Energy. A Pitchbook article does a deep dive into PE cash management practices & makes some interesting observations about distributions to LPs. See here for a complete list of exchanges and delays. Highlights from the 75th Cannes Film Festival. Golub Capital provided the financing to support the deal through a uni-tranche term loan facility and revolver. 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? Over the past decade, since the firm's founding in 1999, Brazos has been one of the most active and successful private equity firms focused . 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. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address. Brazos Private Equity Partners LLC. It designs, develops, owns, and operates utility-grade wind power projects. Ex-Brazos senior executivesMichael Salim,Lucas Cutler,Jason Sutherland, andWilliam Henryare joining him. Next Slideshows . 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"). He will lead the firm alongside former Brazos. Not surprisingly, the article also says that smaller funds are quicker to liquidate much more quickly than larger funds. Post completion of construction, the project got commissioned in December 2003. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market. Enter your email address and gain instant access to this article. OEG is headquartered in Oakland, California, the US. 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. Click All power projects included in this report are drawn from GlobalDatas Power Intelligence Center. Well be together operating Brazos to the conclusion of portfolio company investment horizon(s), he said. Brazos Private Equity Partners is a Dallas-based private equity firm that manages approximately $1.6 billion of equity capital. Brazos Wind Ranch is a 160MW onshore wind power project. Copyright 2019 BlackHawk Industrial / All rights reserved. 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