Robert Daniel

Littlejohn & Co’s Wellfleet Credit Partners closed a $358.5 million collateralized loan obligation. It’s the second issued by Wellfleet, the performing-credit business of Littlejohn, the Greenwich, Conn., middle-market private equity firm. The first CLO closed last September at $360 million. The latest CLO is backed by a diversified portfolio of broadly syndicated senior secured loans, Wellfleet said in a statement. Six classes of notes rated Aaa through Ba3 by Moody’s and two classes of notes rated AAA by Fitch totaling $324.0 million were placed. Morgan Stanley & Co was arranger for the CLO and Dechert LLP was legal adviser.

Brazos Private Equity Partners LLC, the Dallas private investment firm, sold Southern Tide LLC, a Greenville, South Carolina, apparel brand, to Oxford Industries Inc. Brazos said that under its management, Southern Tide, a lifestyle apparel brand combining “high-quality design with classic Southern style,” expanded its product line, sales channels and geographic presence. Brazos invested in Southern Tide in 2013, via its $715 million Brazos Equity Fund III. In a statement, Oxford, the Atlanta parent of Tommy Bahama and other brands, said it paid $85 million for Southern Tide.

Staple Street Capital, the New York middle-market private equity firm, said that an affiliate acquired substantially all of the assets of Mid-States Supply Co, the Kansas City, Missouri, distributor of industrial valves, pipe, automation products, fittings, steam specialty items and controls. Terms weren’t disclosed. The deal was done via a stalking-horse bid in U.S. Bankruptcy Court, the firm said. Kirkland & Ellis was legal adviser to Staple Street Capital. Staple Street is currently investing out of a $265 million PE fund. It typically seeks to invest $15 million to $75 million of equity per transaction.

Wind Point Partners, the Chicago middle-market private equity firm, said Workrite Ergonomics acquired Toronto-based International Source for Ergonomics. Terms weren’t disclosed. ISE is a division of Wind Point’s Knape & Vogt portfolio company in Grand Rapids, Michigan. ISE provides ergonomic office and workstation products, including adjustable keyboard platforms, computer-monitor supports, education and training stations, and accessories to companies and government agencies across North America. The deal expands Workrite’s distribution channels and gives it access to new markets, Workrite President Charlie Lawrence said in a statement. Workrite is based in Petaluma, California.

Soundcore Capital Partners LLC, the New York private equity firm that invests in lower-middle-market businesses, named William M. Berry an operating partner, focused on specialty distribution and business services. From 2009 to 2015 Berry, who is a certified public accountant, had been chief executive of American Tire Distributors. In his tenure, sales more than doubled […]

Frontenac, the Chicago private equity firm focused on lower-middle-market, family-held and owner-operated businesses, completed the recapitalization of Liquid Technologies, the Chino, California, contract formulator and producer of personal-care products like shampoo and skin-care cream. Terms weren’t disclosed. Ron Kuehl, managing director at Frontenac, in a statement called Liquid Technologies’ growth trajectory “impressive” and said the company would pursue strategic and complementary acquisitions. As part of the deal, Jay Kline, whose background includes executive tenures at Kennametal and BASF, was named chief executive of Liquid Technologies.

Abraaj Group through a fund led a US$30 million fundraising for Ninja Logistics Pte Ltd , a Singapore provider of last-mile logistics operating in Singapore, Malaysia and Indonesia. Abraaj invested in the round alongside current investor Monk’s Hill Ventures and new investors B Capital Group and YJ Capital. The logistics firm, known as Ninja Van, plans to use the capital to expand to new markets, including Thailand, Vietnam and the Philippines, this year. Ninja Van also plans to triple its customer-service headcount across the Asia region while improving related systems. Abraaj manages $9.5 billion, including $1.4 billion in Asian sectors including healthcare, financial services, logistics, e-commerce, consumer goods, and food and beverage.

Huron Capital Partners LLC, the Detroit private equity firm focused on middle-market firms, said that its specialty-coatings platform, Valentus Specialty Chemicals Inc. acquired the floor-finishes business of Precision Technology LLC of Memphis. Terms weren’t disclosed. Valentus closed its first investment in December 2015 with the acquisition of coatings producer National Paint Industries. Mike Beauregard, senior partner at Huron Capital, said that Huron had foreseen an add-on deal like this one and said the firm hopes to expand Valentus’s product lines and geographic footprint. Valentus is based in North Brunswick, New Jersey.

Stonepeak Infrastructure Partners committed as much as $500 million to enable Sage Midstream Ventures LLC of Houston to pursue midstream acquisition and development opportunities in North America. Stonepeak is the New York private equity firm focused on infrastructure investments in energy, power and renewables, transportation, utilities, water and communications. Sage in a statement said it would pursue opportunities “across the hydrocarbon value chain, including natural gas, natural gas liquids, crude oil, petrochemicals and refined products.” Jack Howell, Luke Taylor and Forrest Wylie of Stonepeak will join Sage's board. Sidley Austin LLP advised Stonepeak on legal matters while Willkie Farr & Gallagher LLP was Sage management's counsel.