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Private Equity Strategies

Dealmakers Q&A: Quad-C Management Makes New Investments, Sales Sees A Strong Pipeline in 2014

Thursday, March 27, 2014

Charlottesville, Virginia-based Quad-C Management is making the first quarter of this year count with the announcement of five new investments and the sale of one of its portfolio companies. Quad-C is a middle market private equity firm focused on investing in well-established business services, consumer, general industrial, healthcare, specialty distribution and transportation/logistics companies.

“It has been a very active year for Quad-C. These investments are in-line with our focus areas. 2013 was a bit slower for us, but we’ve seen an uptick heading into this year,” says Steve Burns, Senior Partner at Quad-C. “The financing is really hot right now and we’re seeing better quality in the market than there has been.”

The five investments constitute four fresh transactions and one add-on. The investments include:

Interwrap: a global manufacturer of coated woven materials and multi-layer laminated substrates for industrial use.

Worldwide Express: a franchisor providing logistics services to small and medium size businesses.

EFC international: which provides specialty fasteners to automotive and industrial end markets.

Network Hardware International: which is a global provider of refurbished and surplus networking equipment, servers and optics as well as network equipment maintenance services.

The add-on investment went to Towncare Dental which is now part of the Dental Care Alliance, another Quad-C company. “DCA has been growing by acquisition and Towncare represents a significant addition there,” Burns adds.

Finally, Quad-C has also sold its portfolio company Cloverhill Bakery to Switzerland-based global food business ARYZTA AG. During Quad-C’s investment period, Cloverhill has invested approximately $100 million in growth capital and grown revenue by more than 80%.

Looking ahead, Burns says “it’s definitely a sellers market right now, the multiples for companies are better and the quality of companies out there are better.” He expects to see a slightly more active dealflow than last year. The company will be focusing on healthcare, industrials, and domestic manufacturing. “We think the US is looking a lot more attractive in terms of energy, freight and manufacturing and there aren’t a lot of firms out there with the expertise to find the great companies in that space.”

This article was published in Opalesque's Private Equity Strategies our monthly research update on the global private equity landscape including all sectors and market caps.
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