PITTSBURGH - PNC Equity Partners, III, L.P., the private equity fund managed by an affiliate of the PNC Financial Services Group Inc., has announced the acquisition of Bacharach Inc., previously a closely held private company, and also Lone Star Overnight (LSO), previously a portfolio company of Brazos Private Equity. These acquisitions are the first two investments by PNC Equity Partners, II, L.P., a $272 million private equity fund that closed in August.
The acquisition of Bacharach, a leader in the gas detection
equipment market, includes its affiliate, Bacharach of Canada Inc.
Headquartered in New Kensington, Pa., northeast of Pittsburgh, Bacharach
manufactures instruments that detect, measure, and record combustion and
environmental gases, temperature, relative humidity, air velocity, and other
air quality and safety parameters.
LSO is a regional delivery company headquartered in Austin, Texas. LSO offers
overnight delivery via both air and ground transportation, and serves
Louisiana, New Mexico, Texas, Oklahoma, and Mexico.
PNC Equity Partners, II, L.P., is PNC’s second equity fund that had a final
close last month at $272 million with 14 institutional and seven individual
investors. PNC Equity Partners invests in middle-market companies with
enterprise values between $25 million and $125 million and traditionally
targets companies that operate in the niche manufacturing, value-added distribution
and outsourced service industries.
For more information, visit www.pncequity.com.
Sept. 25, 2007: PNC Equity Partners Acquires Bacharach
September 25, 2007