Mergers & Acquisitions

On August 15, 2023, KeyBanc Capital Markets® (KBCM) successfully advised the shareholders of East Manufacturing Corporation on the sale of their interests in the operating business and its affiliated real estate company (collectively “East” or the “Company”) to Fruehauf North America, S.A. de C.V. (Fruehauf), a subsidiary of Fultra, S.A.P.I. de C.V. (Fultra).

KBCM was selected to serve as East’s Exclusive Sell-Side Advisor based on its proven M&A execution capabilities and unique insight into the specialty trailer and related transportation markets.

East is a leading manufacturer of premium, heavy-duty aluminum trailers used across diverse industrial and other trade applications. Regarded by many as the leading brand in the domestic market, the Company maintains a comprehensive portfolio of customizable flatbed, dump and refuse trailers primarily sold through a network of more than 90 dealer locations in the U.S. and Canada. East operates a 460,000-square-foot manufacturing facility located on over 100 acres in Randolph, Ohio.

Founded in 2012, Fultra operates a portfolio of transportation-focused companies in the U.S. and Mexico comprised of four business units: Fruehauf, Amparts, Sierra Norte, and Idealease. Fruehauf, Fultra’s trailer manufacturing division, is one of Mexico’s leading producers of dry van and specialty trailers. Fruehauf reentered the U.S. market in 2022 after a 25-year hiatus, opening its new American production facility in Bowling Green, Kentucky. Fultra is headquartered in Guadalupe, Mexico, with more than 2,000 employees across its business units.

Cain Brothers, a division of KeyBanc Capital Markets, served as the exclusive financial advisor to Clario in connection with the sale of its Software Solutions business to Sitero.

Cain Brothers was engaged to serve as Clario’s financial advisor based on its deep experience across the pharma services continuum, ability to navigate complex transactions and carveouts, and long-standing relationships with the relevant strategic buyers in the space.

Clario is a healthcare research technology company that delivers leading endpoint technology solutions for clinical trials. Clario’s technology platform combines its eCOA, Cardiac Safety, Respiratory and Medical Imaging business lines. Clario’s global team of science, technology and operational experts have helped deliver more than 27,000 trials and contributed to over 500 FDA and EMEA new drug approvals involving more than seven million participants in over 100 countries.

Software Solutions, a Clario business, provides an end-to-end solution to support the clinical trial lifecycle. Software’s eClinical product suite offerings include Clinical Trial Management Systems, Electronic Data Capture, Randomization and Trial Supply Management / Interactive Response Technology, Patient and Site Payments, and eConsent.

Sitero is a next-generation, site-focused CRO that helps the life science industry get treatments to market safer and faster through tech-forward services that streamline research. Sitero’s clinical, drug safety, biosafety, and ethical review services drive compliance and innovation for more than 100 customers worldwide. Sitero partners with clinical trial sponsors across therapeutic areas and from early-phase studies through late-phase and post-market research. Sitero combines the expertise of a tenured team with a nimble, innovative approach to clinical research. Sitero has offices in the U.S., U.K., and India.

On June 30, 2023, KeyBanc Capital Markets (KBCM) successfully advised Dealer Solutions & Design, LLC (DSD or the Company), a portfolio company of KT Capital, on its sale to Safe-Guard Products International, LLC (Safe-Guard), a portfolio company of Stone Point Capital (Stone Point). KBCM served as DSD’s Sell-Side Advisor based on its industry-leading Industrial & Business Services practice and proven M&A execution capabilities.

DSD, headquartered in Duluth, GA, is a nationwide industry leader in engineering, procurement and project management for automotive service centers. Since its inception, the Company has earned its reputation as the partner of choice based on its long-tenured relationships with highly sought-after automotive groups and “concept to completion” approach.

KT Capital is a Georgia-based private equity investment firm that has completed over 130 acquisitions. Since inception in 2006, KT Capital has partnered with talented management teams to accomplish shared growth objectives.

Headquartered in Atlanta, GA, Safe-Guard provides finance and insurance solutions for the motor vehicle industry in the U.S. and Canada. Safe-Guard supports over 12,000 motor vehicle dealers daily and administers over five million contracts annually.

Stone Point is a leading private equity firm with offices in Connecticut, New York and Florida. Stone Point has raised over $35 billion in aggregate capital commitments to invest in more than 145 companies across ten active verticals.

Cain Brothers, a division of KeyBanc Capital Markets, served as the exclusive financial advisor to Cordant Health Solutions in connection with the divestiture of its laboratory business. Cordant divested its direct client bill business consisting of laboratories in Arizona and Indiana to DCA Partners, and its 3rd party reimbursed business consisting of laboratories in Massachusetts, New York, and Washington to Navis Clinical Laboratories.

About the Transaction
Cain Brothers was engaged to serve as Cordant’s exclusive financial advisor based on its deep experience in the Laboratory sector, ability to navigate complex transactions and carveouts and its long-standing relationships with buyers in the space.

About Cordant Health Solutions
Cordant Health Solutions provides innovative solutions for clinicians, organizations and payers involved with substance use disorder, pain management and criminal justice cases. Cordant's unique pharmacy and drug testing programs provide accurate, actionable results to protect prescribers, hold patients accountable, and optimize quality of life. Cordant is one of the only healthcare companies that offers monitoring and risk assessment tools through its innovative drug testing options and full-service, high-touch pharmacies.

About DCA Partners
DCA provides growth and buyout capital to promising, growth-oriented, middle-market businesses in under-served markets across the Western United States. DCA partners with top-quality owners and management teams, providing the capital and expertise needed to successfully expand their businesses.

About Navis Clinical Laboratories
Navis Clinical Laboratories is committed to providing cutting-edge toxicological, molecular and clinical laboratory testing solutions. Navis serves healthcare providers in the behavioral health, mental health, chronic pain management and addiction treatment spaces, as well as hospitals and health systems, with the goal of increasing patient access to whole-person healthcare and improving overall health and well-being.

Methodist Healthcare, the joint-venture between HCA Healthcare and Methodist Healthcare Ministries of South Texas, has completed the acquisition of Hill Country Memorial making Hill Country Memorial a part of Methodist Healthcare. An affiliation transaction was completed on April 1, 2023.

Cain Brothers was engaged by Hill Country Memorial as its exclusive sell-side advisor to assist HCM through the sale process and negotiations with Methodist. Cain Brothers brought deep domain expertise in the hospital and health system sector and a strong understanding of the health care market in Texas. This affiliation will help achieve HCM and Methodist’s shared goal of increasing access to care and providing quality healthcare services to patients in the Texas Hill Country region.

Hill Country Memorial is a not-for-profit, non-tax-supported health care network supporting the Hill Country region of Texas since 1971. Located in Fredericksburg, HCM includes an 84-licensed bed general Acute Care Community Hospital, 8 Medical Clinics, one Immediate Care Clinic, and a joint venture Ambulatory Surgery Center.

Methodist Healthcare, a 50-50 co-ownership between Methodist Healthcare Ministries of South Texas, Inc., and HCA Healthcare, is recognized as a leading healthcare provider in South Texas, offering an outstanding selection of doctors, healthcare professionals, equipment and health services. Methodist operates a network of hospitals in the greater San Antonio area, including nine acute care facilities: Methodist Hospital, Methodist Children's Hospital, Methodist Hospital Metropolitan, Methodist Hospital Northeast, Methodist Hospital Atascosa, Methodist Hospital Specialty and Transplant, Methodist Hospital Stone Oak and Methodist Hospital Texsan.

Nashville-based HCA Healthcare is one of the nation’s leading providers of healthcare services comprising 182 hospitals and approximately 2,300 ambulatory sites of care, including surgery centers, freestanding ERs, urgent care centers, and physician clinics, in 20 states and the United Kingdom. With its founding in 1968, HCA Healthcare created a new model for hospital care in the United States, using combined resources to strengthen hospitals, deliver patient-focused care and improve the practice of medicine. 

KeyBanc Capital Markets (KBCM) represented Patriot Renewables, LLC (Patriot) on the sale of its 81.5 MW portfolio of four operating wind farms in Maine to CPV Renewable Power, an affiliate of Competitive Power Ventures. The projects sell energy to a consortium of high-quality commercial offtakers. KBCM served as the Exclusive Sell-Side Advisor on the transaction.

Patriot Renewables is a developer, owner, and operator of commercial-scale wind, solar and energy storage projects. Patriot is comprised of skilled individuals with proven abilities in project development, environmental stewardship, finance and tax equity investments. The company is an affiliate of Jay Cashman, Inc., an experienced, multidisciplinary East Coast construction firm which has executed some of the most difficult and complex projects across the globe.

CPV Group LP, a partnership majority owned by OPC Energy Ltd., has over two decades of success in the development and operation of highly efficient and low emitting electric generation and renewable projects in the United States. Competitive Power Ventures is focused on applying its development, financial and project management expertise to advance the next generation of technologies, including an extensive renewable pipeline, and dispatchable power projects that will utilize carbon capture technology, to yield extremely low carbon power that will help drive the nation’s decarbonization goals forward.

Cain Brothers, a division of KeyBanc Capital Markets, served as the exclusive financial advisor to Starling Physicians, a leading primary care and multispecialty group in Connecticut, in its sale to VillageMD.

Cain Brothers was engaged to serve as Starling’s exclusive financial advisor based on its deep expertise and experience in the multispecialty physician group space. The transaction builds on VillageMD’s expansion into both the Northeast region and multi-specialty care services.

Starling Physicians is Connecticut’s physician-led multispecialty group, delivering the highest quality medical care to people of all ages. Starling works as a unified team to deliver personalized treatment with compassion and skill, resulting in better outcomes and a more enjoyable healthcare experience. Starling Physicians practice healthcare the way it should be – where patients and doctors form enduring relationships. With Starling Physicians all members of a family can receive outstanding care for a lifetime.

VillageMD provides high-quality, accessible healthcare services for individuals and communities across the United States, with primary, multispecialty, and urgent care providers serving patients in traditional clinic settings, in patients’ homes and online appointments. Committed to serving all patients and working with all payers, VillageMD consistently innovates value-based care, bringing integrated applications, population insights and staffing expertise to its owned and affiliate practices, ensuring high-quality care, better patient outcomes and a reduction in the total cost of care. Through Village Medical, Village Medical at Home, Summit Health, CityMD and other practices, VillageMD serves millions of patients throughout their lives, wherever and whenever they need care. Its dedicated workforce of more than 20,000 operates from 680 practice locations in 26 markets.

KeyBanc Capital Markets, Inc. (“KBCM”), served as exclusive financial advisor to SolAmerica Energy ( “SolAmerica” or the “Company”) on its sale to AB Carval Investors L.P. (“AB CarVal”). The transaction closed in March 2023.

Transaction Overview
KBCM was retained by SolAmerica as its exclusive financial advisor to assist the Company in a sale process. KBCM’s marketing efforts identified the most logical investors for SolAmerica, generating multiple offers for the Company. This transaction demonstrates KBCM’s strong relationships and ability to identify leading-edge investors for renewable energy platforms. The SolAmerica team relied heavily on KBCM’s expertise in evaluating and negotiating the transaction.

SolAmerica Overview
SolAmerica is a leading provider of turnkey solar energy and storage solutions. The Company specializes in the development and engineering, procurement, and construction (“EPC”) of ground-mount, rooftop, and parking canopy solar systems designed to provide solar energy to utilities, communities, and large commercial and industrial facilities. SolAmerica relies on substantial industry expertise, best-in-class materials, operational excellence, and highly competitive pricing. Since its founding in 2009, SolAmerica has developed or constructed hundreds of megawatts of solar projects in 15 states and over 100 counties.

AB CarVal Overview
AB CarVal is an established global alternative investment manager. Since 1987, AB CarVal’s team has navigated through ever-changing credit market cycles, opportunistically investing $142 billion in 5,675 transactions across 82 countries. Today, AB CarVal has approximately $16 billion in assets under management in corporate securities, loan portfolios, structured credit, and hard assets. Since 2017, AB CarVal has deployed more than $3 billion in clean energy investments.

On February 13, 2023, Talos Energy Inc. (Talos) closed on its $1.1 billion acquisition of EnVen Energy Corporation (EnVen), a private operator in the deepwater U.S. Gulf of Mexico. The transaction expands Talos' Gulf of Mexico operations with high margin, oil-weighted assets. KeyBanc Capital Markets (KBCM) served as Buy-Side Advisor on the transaction. KBCM was selected as a buy-side advisor to Talos Energy because of its deep relationships and extensive experience in the Gulf of Mexico.

Talos (NYSE:TALO) is a technically driven independent exploration and production company with operations in the United States and offshore Mexico. With the addition of  EnVen's assets, Talos will produce nearly 90 MBoe/d. The company is also actively expanding its carbon capture and sequestration business through several joint ventures.

Prior to the transaction, EnVen engaged in exploration and production of oil and gas in the Gulf of Mexico. At the time of the transaction, EnVen produced approximately 24 MBoe/d that was >80% oil weighted. The company operated numerous platforms, including five major deepwater facilities with significant open capacity.

A consortium comprising funds managed by Fiera Infrastructure Inc. (Fiera Infrastructure), an affiliate of Fiera Capital Corporation (TSX: FSZ), and Palisade Infrastructure Group (Palisade Infrastructure), has agreed to jointly acquire 100% of the equity interests in Amp US Primary Holdings Inc. (Amp US), a US-based renewable energy generation and battery storage business, from Amp Solar Group Inc. (Amp Energy), a Canadian-based global energy transition platform. KeyBanc Capital Markets served as Exclusive Sell-Side Advisor on the transaction.

Amp US is a leading developer, owner and operator of US community solar and storage projects. Since entering the US market in 2016, the company has experienced significant growth, placing the platform in a primary position within the distributed generation market. With headquarters in Denver, Colorado, the company has built a portfolio with generation capacity of approximately 200 MWDC across 39 operating or under construction projects expected to be completed in the short term. Additionally, the company has a large pipeline of solar and storage projects expected to be developed and built across existing and new US markets. Its management team has deep experience in greenfield development, asset management, offtaker and subscriber management, project acquisitions and financing.

Fiera Infrastructure is a leading global mid-market direct infrastructure investor operating across all subsectors of the infrastructure asset class and an affiliate of Fiera Capital Corporation (Fiera Capital). Led by a team of highly experienced and specialized professionals, the firm leverages strong global relationships, with a local presence in Toronto, London, and New York. Fiera Infrastructure has assets under management and commitments of C$3.8 billion as of December 31, 2022. Fiera Infrastructure has invested in more than 50 infrastructure assets across utilities, telecommunications, transportation, renewables, and PPPs.

Palisade Infrastructure is a global independent, specialist infrastructure and real assets manager with a local presence in New York, Sydney and Melbourne. Their primary focus is generating outstanding risk-adjusted returns for their institutional and wholesale investors by investing in mid-market infrastructure and infrastructure adjacent assets in a sustainable manner. Palisade Infrastructure’s North American infrastructure capability leverages its extensive track record of successful investment in Australia & New Zealand and is focused on the energy transition, digitization and transport infrastructure sectors. It employs a partnership-focused approach with a long-term investment horizon. Palisade Impact is part of the Palisade Infrastructure Group and is a specialist, impact investment manager that provides institutional and wholesale investors with access to investments targeting solutions to environmental and social challenges.

Lone View Capital, a growth-oriented private equity firm investing across the technology ecosystem, announced its investment in Trend Health Partners, a leader in credit balance management and payment accuracy solutions for healthcare payers and providers.

Lone View Capital has made a platform investment in Trend Health Partners. Lone View plans to support Trend’s continued rapid growth by enhancing and expanding the solutions it provides to clients while accelerating innovation in the industry. Trend’s management and employees remain significant shareholders.

Cain Brothers was engaged to serve as Trend’s exclusive financial advisor based on its deep HealthTech and Payment Integrity sector knowledge as well as its strong, longstanding relationships with buyers in the space.

Founded in 2018 and Maryland-based, Trend Health Partners is a leader in credit balance management and payment accuracy solutions for healthcare payers and providers. The Company leverages proprietary, state-of-the-art applications and provider relationships to mitigate the complexity of healthcare billing and payments for their payer customers. 

Today, Trend serves more than 50 health plans and 750 hospitals, leveraging its advanced analytics and workflow platform, TRENDConnect, to identify and resolve inaccurate payments while reducing administrative costs for all parties.

Lone View is a growth-oriented private equity firm investing across the technology ecosystem. Lone View’s team comprises both investors and operators who leverage their deep domain and operational expertise to build market-leading businesses. Lone View is based in Los Angeles, CA. 

Cain Brothers, a division of KeyBanc Capital Markets, served as the exclusive financial advisor to Cordant Health Solutions in connection with the divestiture of its laboratory business. Cordant divested its direct client bill business consisting of laboratories in Arizona and Indiana to DCA Partners, and its 3rd party reimbursed business consisting of laboratories in Massachusetts, New York, and Washington to Navis Clinical Laboratories.

About the Transaction
Cain Brothers was engaged to serve as Cordant’s exclusive financial advisor based on its deep experience in the Laboratory sector, ability to navigate complex transactions and carveouts and its long-standing relationships with buyers in the space.

About Cordant Health Solutions
Cordant Health Solutions provides innovative solutions for clinicians, organizations and payers involved with substance use disorder, pain management and criminal justice cases. Cordant's unique pharmacy and drug testing programs provide accurate, actionable results to protect prescribers, hold patients accountable, and optimize quality of life. Cordant is one of the only healthcare companies that offers monitoring and risk assessment tools through its innovative drug testing options and full-service, high-touch pharmacies.

About DCA Partners
DCA provides growth and buyout capital to promising, growth-oriented, middle-market businesses in under-served markets across the Western United States. DCA partners with top-quality owners and management teams, providing the capital and expertise needed to successfully expand their businesses.

About Navis Clinical Laboratories
Navis Clinical Laboratories is committed to providing cutting-edge toxicological, molecular and clinical laboratory testing solutions. Navis serves healthcare providers in the behavioral health, mental health, chronic pain management and addiction treatment spaces, as well as hospitals and health systems, with the goal of increasing patient access to whole-person healthcare and improving overall health and well-being.

Cain Brothers, a division of KeyBanc Capital Markets, served as financial advisor to TPG Growth on its partnership with Novant Health Enterprises, a division of Novant Health, to expand MedQuest Associates.

MedQuest has more than 20 years of experience partnering with hospitals and health systems to develop and execute outpatient radiology strategies, including owning and managing freestanding outpatient and mobile imaging centers, both stand-alone and through joint ventures. As part of this new venture, the initial owned and managed imaging centers span Virginia, North Carolina, Maryland, Mississippi, and South Carolina, and MedQuest intends to quickly expand its services through new joint ventures with healthcare providers across the country. 

Novant Health, a nationally recognized not-for-profit health system, and TPG, a leading global alternative asset management firm, have announced an innovative new partnership to expand MedQuest across the country. TPG’s investment in the partnership is being made through TPG Growth, the firm’s middle market and growth equity platform.

Cain Brothers was engaged to serve as financial advisor to TPG based on its deep industry expertise in outpatient imaging, managed service organizations, and knowledge of the health system landscape, as well as its long-standing relationship with TPG.

Novant Health is an integrated network of physician clinics, outpatient facilities and hospitals that delivers a seamless and convenient healthcare experience to communities in Virginia, North and South Carolina, and Georgia. The Novant Health network consists of more than 2,400 physicians and over 37,000 employees who provide care at more than 800 locations, including 18 hospitals and hundreds of outpatient facilities and physician clinics. In 2021, Novant Health was the highest-ranking healthcare system in North Carolina to be included on Forbes’ Best Employers for Diversity list. Diversity MBA Magazine has also included Novant Health on its 2020 list of “Best Places for Women & Diverse Managers to Work.” In 2020, Novant Health provided more than $1.02 billion in community benefit, including financial assistance and services. 

TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $135 billion of assets under management and investment and operational teams in 12 offices globally. TPG invests across five multi-product platforms: Capital, Growth, Impact, Real Estate, and Market Solutions and our unique strategy is driven by collaboration, innovation, and inclusion. TPG’s combined teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. 

On January 10, 2023, KeyBanc Capital Markets (KBCM) successfully advised HASA, Inc. (HASA or the Company), a portfolio company of GHK Capital Partners (GHK), on its sale to Wind Point Partners (WPP). KBCM was selected to serve as Exclusive Sell-Side Advisor based on its industry-leading specialty distribution and chemicals investment banking practices, deep industry expertise, relevant transaction experience and track record of successful M&A execution.

HASA is a leading producer and distributor of high-quality water treatment solutions. Founded in 1964, the company is recognized industry-wide as the premier source for sodium hypochlorite sanitization and shock solutions for the pool and industrial/municipal markets. HASA is headquartered in Saugus, California, and has 11 facilities throughout the Western United States.

Founded in 2018, GHK is a leading middle market private equity firm focused on making control investments in industrial companies across North America. GHK targets well-performing, defensible businesses and partners with exceptional management teams to accelerate earnings growth and maximize equity value.

Wind Point Partners is a Chicago-based private equity investment firm with approximately $5 billion in assets under management. Wind Point focuses on partnering with top caliber management teams to acquire well-positioned middle market businesses where it can establish a clear path to value creation. The firm targets investments in the consumer products, industrial products and business services sectors.

KeyBanc Capital Markets (KBCM) represented Stonepeak Infrastructure Partners (Stonepeak) on the sale of its portfolio company Madison Energy Investments (Madison or the Company) to EQT. KBCM served as Sell-Side Advisor on the transaction.

Madison was founded in 2019 to acquire, build, own, and operate distributed renewable energy projects including commercial, industrial, and community solar and energy storage. Since inception, the Company has aggregated a nationwide portfolio of 386 MW. Madison is accelerating the energy transition by bringing solar energy generation and energy storage to universities, distribution centers, data centers, and other commercial, municipal, and industrial customers across North America. By developing, acquiring, and operating distributed generation assets, Madison is paving the way for customers in the public and private sector to recognize environmental goals.

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $53.4 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include transport and logistics, communications, water, energy transition, and power and renewable energy. Stonepeak is headquartered in New York with offices in Houston, Austin, Hong Kong, London, Sydney and Singapore.

EQT is a purpose-driven global investment organization with EUR 114 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence, and market leadership.

Cain Brothers, a division of KeyBanc Capital Markets, served as exclusive financial advisor to AvMed Inc., a not-for-profit health plan in Florida, on its acquisition by Sentara Healthcare, one of the largest not-for-profit integrated health care delivery systems in the U.S. Mid-Atlantic region. Previously owned by SantaFe Healthcare, the transaction for AvMed was closed on December 31, 2022. 

Cain Brothers was engaged to serve as exclusive financial advisor to AvMed and SantaFe Healthcare based on its deep expertise and experience in the managed care sector, especially within the not-for-profit space, as well as its long-standing relationship with SantaFe Healthcare and AvMed. The Cain Brothers team executed a targeted and highly competitive process to identify the optimal partner for AvMed.

AvMed is a Florida-based health plan headquartered in Miami. More than 200,000 members count on AvMed for commercial group, individual and Medicare Advantage coverage. Members have the support of nearly 500 employees and a network of more than 35,000 providers.

Sentara Healthcare celebrates more than 130 years in pursuit of its mission – “we improve health every day.” Sentara is a not-for-profit integrated health care delivery system with approximately 30,000 employees (including 1,375 physicians and advanced practice providers), 12 hospitals in Virginia and Northeastern North Carolina and the Sentara Health Plans division which serves over 1.2 million members. Sentara is recognized nationally for clinical quality and safety, and is strategically focused on innovation and creating an extraordinary health care experience for our patients and members. Sentara was named to IBM Watson Health’s “Top 15 Health Systems” in 2021 and 2018, and was recognized by Forbes as a “Best Employer for New Grads” and “Best Employer for Veterans” in 2022, “Best Employer for Women” in 2020, and one of “America’s Best Employers” in 2018.

KeyBanc Capital Markets (KBCM) served as Exclusive Sell-Side Advisor to Longroad Energy (Longroad) on its divestiture of a 143 MW portfolio of operating solar projects to EDP Renewables NA Distributed Generation LLC. The portfolio consists of 386 behind-the-meter projects located across 14 U.S. states and Puerto Rico. The portfolio sells energy to a diverse group of commercial and industrial, municipal and utility customers.

Founded in 2016, Longroad Energy is focused on wind, solar, and energy storage project development and operation. Today, Longroad owns 1.6 GW of renewable energy projects across the United States and manages a total of 3.4 GW of wind and solar projects on behalf of Longroad and third parties.

EDP Renewables NA Distributed Generation is a wholly owned subsidiary of EDP Renewables North America, which owns and operates more than 8.2 GW of wind and solar projects across the U.S., Canada and Mexico. With more than 500 projects across 16 states, the company is one of the largest owners and operators of distributed generation assets in the U.S.

Cain Brothers, a division of KeyBanc Capital Markets, served as financial advisor to Arlington Capital Partners on its acquisition of AVS Bio from Charles River Laboratories International, Inc. (NYSE:CRL). To support the acquisition, on December 20, 2022, KeyBanc Capital Markets Inc. successfully closed the syndication of Senior Secured Credit Facilities, consisting of a Senior Secured Revolving Credit Facility and a Senior Secured Term Loan. KBCM acted as Left Lead Arranger, Joint Bookrunner, and Administrative Agent on the Credit Facilities.

Cain Brothers was engaged to serve as financial advisor to ACP based on its deep domain expertise and experience in the Life Sciences sector, as well as its long-standing relationship with ACP.

Arlington Capital Partners is a Washington, DC-based private equity firm that has managed approximately $7 billion in capital commitments. Arlington is focused on middle market investment opportunities in growth industries including healthcare, government services and technology, aerospace and defense, and business services and software. The firm’s professionals and network have a unique combination of operating and private equity experience that enables Arlington to be a value-added investor. Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their company’s position as leading competitors in their field.

Headquartered in Norwich, CT, AVS Bio is a global provider of specific pathogen-free eggs and adjacent laboratory products and services that support the development and manufacturing of vaccines, therapeutics, and other biologics used for human and animal health. Prior to its acquisition by Arlington, the Company operated as a subsidiary of Charles River. The Company currently employs ~250 employees across 20+ facilities in Connecticut, New York, Illinois, Missouri, and Europe.

Founded in 1947 and based in Wilmington, MA, Charles River is an early-stage contract research organization offering services and solutions focused on the discovery, development, and manufacturing of pharmaceuticals. Charles River covers a broad portion of the early-stage research process from discovery through pre-clinical development and offers its services and solutions to a diversified, global customer base consisting of pharmaceutical companies, biotechnology companies, government agencies, hospitals, and academic institutions.

On December 16, 2022, Quinbrook Infrastructure Partners (Quinbrook) closed the sale of 100% of the equity interests in its portfolio company, Scout Clean Energy (Scout or the Company), to Brookfield Renewable (Brookfield). KeyBanc Capital Markets (KBCM) served as Sell-Side Advisor on the transaction.

KBCM was mandated by Quinbrook alongside another advisor to identify a competitive investment partner to support the continued buildout of Scout’s 22+ GW wind, solar, and storage pipeline, including 1.6 GW of assets expected to begin construction in the next 18-24 months. As one of the largest fully integrated platforms with wind expertise in the U.S., the advisors highlighted Scout as a compelling opportunity to achieve instant scale in a market with historically high barriers to entry.

Quinbrook Infrastructure Partners is a specialist investment manager focused exclusively on renewables, storage, and grid support infrastructure needed to drive the energy transition in the U.S., U.K., and Australia. Quinbrook is led and managed by a senior team of power industry professionals who have collectively invested in energy infrastructure assets since the early 1990s, representing 19.5 GW of power supply capacity.

Scout Clean Energy is a renewable energy developer, owner-operator headquartered in Boulder, Colorado, with over 1,200 MW of operating assets, including 400 MW managed on behalf of third parties. Scout is actively developing a portfolio of over 22,000 MW of onshore wind, solar PV, and battery storage projects across 24 U.S. states. Scout has expertise in all aspects of renewables project development, permitting, power marketing, finance, construction, 24/7 operations, and asset management.

Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms. Its portfolio consists of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia, and totals approximately 24,000 MW of installed capacity and an approximately 100,000 MW development pipeline. Brookfield Renewable is the flagship listed renewable power company of Brookfield Asset Management, a leading global alternative asset manager with approximately $750 billion of assets under management.

Cain Brothers, a division of KeyBanc Capital Markets, served as financial advisor to GCX Mounting Solutions and Audax Private Equity on the acquisition of Jaco, Inc.

Cain Brothers was engaged to serve as financial advisor to GCX Corporation based on its deep expertise and experience in the medical technologies sector, as well as its long-standing relationship with Audax.

GCX, based in Petaluma, CA, has been providing medical device and IT mounting solutions for the healthcare industry since 1971, through direct sales and working with original equipment manufacturers. Major product lines include wall mounts, roll stands, countertop mounts, pole mounts, and a variety of mounting accessories. GCX mounting solutions feature space-saving, ergonomic designs to improve both equipment and patient access. The company has offices in North America, Europe, Japan and Taiwan. It also operates warehouse and production facilities in Petaluma, California; El Paso, Texas; and New Taipei City, Taiwan.

Audax Group is a leading alternative investment manager with offices in Boston, New York, San Francisco and London. Since its founding in 1999, the firm has raised over $32 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $9 billion in more than 150 platforms and over 1,100 add-on companies and is currently investing in add-ons out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 360 employees and over 150 investment professionals, the firm is a leading capital partner for North American middle market companies.

Jaco, Inc., located in Franklin, Massachusetts, is a leading manufacturer and integrator of computer carts and wall-arm workstations for point-of-care Electronic Health Records. Proudly manufacturing in the United States of America for over 50 years, Jaco has set the healthcare industry standard for superior infection control, ergonomic design and safety, sustainable quality and unmatched capital equipment investment value. Jaco is an ISO 9001-2008 Registered Company.

MultiCare Health System and Yakima Valley Memorial have announced plans for Memorial to become a wholly owned subsidiary of MultiCare. An Affiliation Agreement was signed in October 2022. This transaction is subject to routine regulatory approval as well as customary closing conditions and is expected to close in early 2023.

Cain Brothers, a division of KeyBanc Capital Markets, was retained by MultiCare as its exclusive buy-side advisor to assist MultiCare through the acquisition process and negotiations with Memorial. Cain Brothers brought deep domain expertise in the hospital and health system sector and a strong understanding of the Washington health care market. This affiliation will help achieve MultiCare and Memorial’s shared goal of retaining and expanding local access to health care and improving the quality and cost of care for Yakima Valley communities. Under the terms of the agreement, MultiCare will invest in new programs, implement an integrated electronic health record system, strengthen the hospital’s role as the leading health care hub in Central Washington, and help provide a sustainable future for Yakima’s only hospital. The Central Washington health system will become a part of MultiCare in early 2023 and its name will change to MultiCare Yakima Memorial Hospital at that time.

MultiCare is a not-for-profit health care organization that has been caring for communities in Washington state since the founding of Tacoma’s first hospital in 1882. MultiCare has grown from a Tacoma-centric, hospital-based organization into the largest, not-for-profit, community-based, locally owned health system in the State of Washington. With more than 20,000 team members, its network of care includes 11 hospitals and 240+ clinics in both the Puget Sound and Inland Northwest regions.

Yakima Valley Memorial is a not-for-profit health system with nearly 3,000 team members and is the largest employer in Yakima County. Memorial has been providing quality patient care to the Yakima Valley for 72 years. Memorial comprises a 226-bed hospital, primary care practices and specialty care services including cardiac care, cancer care through North Star Lodge, breast health at Ohana Mammography Center, acute hospice and respite care at Cottage in the Meadow, pain management at Water’s Edge, the only level-3 NICU in Central Washington, and advanced services for children with special health care needs at Children’s Village.

KeyBanc Capital Markets acted as Sell-Side Advisor to Cenergy Power on its divestiture of a 14.2 MW portfolio of solar projects in Illinois (the Portfolio) to Luminace Holdings, LLC, a Brookfield Renewable company. The Portfolio consists of six community solar projects located across the Commonwealth Edison service territory in Northern Illinois, which Cenergy will construct. The Portfolio will sell energy to community subscribers, participate in the Illinois Adjustable Block Program, and is expected to achieve commercial operation in Q4 2023.

Based in California, Cenergy is a leading national commercial solar developer with over 300 MWs of solar experience working with local communities and businesses on value-added solar and solar plus storage solutions. Cenergy's mission is to spread the economic and sustainability benefits of reliable clean energy projects for local stakeholders.

KeyBanc Capital Markets (KBCM), in collaboration with Clearwater International (CWI), advised John Lawrie Group Ltd. (JLG or the Company), a portfolio company of Rubicon Partners (Rubicon), on its successful sale to Center Rock Capital Partners (Center Rock). The transaction closed on November 7, 2022. KBCM was selected to serve as Sell-Side Advisor based on our industry-leading metals investment banking practice, deep industry expertise and market relationships, and proven track-record of successful M&A execution.

Headquartered in Houston, Texas, John Lawrie is a value-added processor and distributor of steel tubular and piling products primarily used in construction and infrastructure applications. Operating out of six facilities in the US and two in the UK, the Company’s scale offers its customers a unique global supply network and the necessary technical and logistical support to meet their project demands. Customers rely on John Lawrie for reliable, high-quality surplus and secondary steel tubular products that are delivered with short lead times and unmatched customer service.

Rubicon Partners is a hands-on investment partnership focused on the acquisition of complex industrial businesses in the UK. Over the past 29 years, Rubicon has invested in 79 businesses across the manufacturing, distribution and service sectors, ranging in value from £15M to £250M. Rubicon focuses on opportunities for long-term value creation through working closely with company management in addressing strategic opportunities and operational performance.

Center Rock is a Midwest-based private equity firm focused on building leading industrial companies in the lower middle market. Center Rock seeks industrial manufacturing, industrial services and industrial distribution companies headquartered in North America, often with multinational operations and locations that serve both domestic and global markets.

KeyBanc Capital Markets (KBCM) served as Sell-Side Advisor to Longroad Energy (the Company) on a $500 million equity investment from MEAG, the asset management arm of Munich Re, alongside two of the company’s existing investors, the NZ Super Fund, and Infratil. The investment will support the Company’s strategic shift from a primarily “develop to sell” business model to one that is oriented towards ownership and will accelerate the expansion of its current 1.5 GW portfolio of owned assets to 8.5 GW of wind, solar, and storage projects over the next five years. The transaction closed in October 2022.

MEAG manages approximately €330 billion of assets for insurance companies Munich Re and ERGO. MEAG’s most recent infrastructure investments in the U.S. include 400 MW of solar and battery storage projects in California in 2021, various regulated U.S. water assets in 2020, as well as New York’s Astoria Energy Partners and Long Beach Container Terminal in 2019.

Founded in 2016, Longroad Energy Holdings, LLC is focused on wind, solar, and energy storage project development and operation. Today, Longroad owns 1.5 GW of renewable energy projects across the United States and manages a total of 3.5 GW of wind and solar projects on behalf of Longroad and third parties. Upon closing this transaction, Longroad will be owned by the NZ Super Fund, Infratil Limited, MEAG, and Longroad Energy Partners, LLC.

On October 14, 2022, KeyBanc Capital Markets (KBCM) successfully advised Martin Door Holdings, Inc. (Martin Door or the Company) on its sale to PGT Innovations, Inc. (PGT Innovations or PGT) for $185 million. KBCM was chosen to serve as Martin Door’s exclusive sell-side advisor based on its industry-leading Building Products practice and proven M&A execution capabilities.

Founded in 1936, Martin Door is a leading manufacturer of overhead garage doors and accessories serving the western U.S. residential and commercial markets. Headquartered in Salt Lake City, UT, the Company offers a comprehensive array of high-quality, customizable solutions via its technology-driven manufacturing processes.

PGT Innovations manufactures and supplies a variety of building products, such as impact-resistant windows and vinyl window frames, to domestic and international customers. PGT operates under the Anlin, CGI, ECO, Eze-Breeze, NewSouth, Western and WinDoor brand names. Headquartered in North Venice, FL, PGT has approximately 5,500 team members across the U.S. to support its 30 facilities.