Author Archives: Joele Frank

Oct 22, 2021

Blue Wolf Capital to Acquire CIVCO Radiotherapy from Roper Technologies

October 22, 2021 – NEW YORK – Blue Wolf Capital Partners LLC (“Blue Wolf”), a New York-based private equity firm, today announced it has entered into an agreement to acquire CIVCO Radiotherapy, a global leader of radiotherapy patient positioning and immobilization equipment, from Roper Technologies, Inc. (NYSE: ROP).

With a nearly 40-year operating history and a track record of quality and reliability, CIVCO Radiotherapy serves a blue-chip customer base of academic and community hospitals, cancer centers and OEM manufacturers. CIVCO Radiotherapy is headquartered in Iowa and operates globally in 90+ countries.

Jeremy Kogler, Partner at Blue Wolf Capital, said, “We are incredibly pleased to partner with CIVCO Radiotherapy’s leadership team to further strengthen the company’s longstanding leading position in mission-critical radiotherapy products. We look forward to many years of continued growth at CIVCO Radiotherapy.”

“We are pleased to have found a trusted partner in Blue Wolf with the skills, expertise and capital to support our significant growth goals and mission of improving outcomes for patients and healthcare providers worldwide,” said Nat Geissel, current President of CIVCO Radiotherapy, who will be named CEO of the company at transaction close. “Blue Wolf has a track record of successfully managing businesses. I’m confident their team will help to enhance our production capabilities and distribution efficiencies to meet the needs of patients and healthcare providers globally.”

“CIVCO Radiotherapy is a leader in the provision of radiotherapy positioning equipment,” said Shashank Patel, Principal at Blue Wolf Capital. “The company has a rich history of improving the patient experience and clinical outcomes for cancer patients globally. We believe CIVCO Radiotherapy is well positioned to further help clinicians offer more targeted and accurate treatment to patients as innovations in the radiotherapy space continue. We look forward to working with Nat and his team to build on its mission of improving outcomes and quality care for patients.”

The transaction is expected to close by the end of the year. Terms of the transaction were not disclosed.

About CIVCO Radiotherapy
Founded in 1982, CIVCO Radiotherapy has a nearly 40-year track record of designing and manufacturing radiotherapy patient positioning and immobilization devices that are critical to the provision of safe, quality cancer treatment to patients. The company has approximately 115 employees, serving customers across 90+ countries. CIVCO Radiotherapy corporate headquarters and production facilities are located in Iowa. For more information, please visit www.civcort.com.

About Blue Wolf Capital Partners
Blue Wolf Capital Partners LLC is a private equity firm that specializes in control investments in middle market companies. Leading by experience, and with a commitment to excellence, Blue Wolf transforms companies strategically, operationally and collaboratively. Blue Wolf manages challenging situations and complex relationships between business, customers, employees, unions, and regulators to build value for stakeholders. For additional information, please visit www.bluewolfcapital.com.

Contacts
Jenny Zhu
jenny@bluewolfcapital.com
212.488.3686

Joele Frank, Wilkinson Brimmer Katcher
Steve Frankel / Ed Trissel / Arielle Rothstein
212.355.4449

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Oct 5, 2021

Blue Wolf Capital Named in Inc.’s 2021 List of Founder-Friendly Investors

NEW YORK, October 5, 2021 – Blue Wolf Capital Partners LLC (“Blue Wolf”), a New York-based private equity firm, today announced it was named to Inc.’s third annual Founder-Friendly Investors list, honoring the private equity and venture capital firms with the best track record of success backing entrepreneurs.

“Entrepreneurship is at the heart of Blue Wolf and we are proud to partner with innovative leaders to transform their businesses, bring key stakeholders together and generate value,” Adam Blumenthal, Managing Partner of Blue Wolf. “We are honored to be recognized and believe it is a reflection of our outstanding team and their ability to work collaboratively with founders and management teams across our portfolio companies.”

“Supporting an entrepreneur’s vision and driving growth is more than just a financial investment. It’s about building a relationship and supporting the founders beyond that initial year. These private equity firms treat the founders like partners,” says Scott Omelianuk, editor-in-chief of Inc. media. Since Blue Wolf’s founding 15 years ago, it has established a distinctive catalyst-driven approach to building stronger businesses, focused on combining financial and operational discipline with environmental, social, and governance principles. Working hand-in-hand with management teams, Blue Wolf takes a collaborative investment approach that is both value-generating and values-driven, which has translated to its proven track record of transforming businesses to create sustainable value for stakeholders and investors.

Blue Wolf demonstrated its ability to drive value for founder-owned businesses with the formation and ultimate successful sale of the Mulch and Soil Company earlier this year. Blue Wolf formed the Mulch and Soil Company in 2018 through a merger of Forestry Resources and later K&B Landscapes – two founder-owned businesses based on Florida – with the mulch division from Suwannee Lumber Company. Under Blue Wolf’s leadership prior to the sale, the Mulch and Soil Company became one of the Southeast region’s leading manufacturers of premium mulch and soil products.

According to Inc., the final Founder-Friendly Investors list recognizes firms that entrepreneurs can trust and collaborate with while receiving the financial support they need to help accelerate growth. The firms selected have a successful track record of remaining actively involved in the businesses after their investment.

To compile the list, Inc. went straight to the source: entrepreneurs who have sold to private equity. Founders filled out a questionnaire about their experiences partnering with private equity firms and shared data on how their portfolio companies have grown during these partnerships.

To see the complete list, go to: https://www.inc.com/founder-friendly-investors/2021. The October 2021 issue of Inc. magazine is available online now at https://www.inc.com/magazine and will be on newsstands beginning October 5, 2021.

About Inc.
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community they need to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.

The Founder-Friendly Investors list of 2021 recognition presented herein is awarded by Inc., a thirdparty that is not affiliated with Blue Wolf, requested nominees provide them with a certain number of entrepreneur references, and Inc. independently assessed the nominees based on responses to a questionnaire by such entrepreneur references. The number of nominees reviewed for this recognition was not disclosed to Blue Wolf, and therefore, it and the percentage of nominees receiving the recognition, cannot be disclosed herein. Inc.’s recognition is not indicative of Blue Wolf’s future performance and does not reflect the experience of, or any rating by, Blue Wolf’s investors. Blue Wolf paid an application fee to participate in this process. For more information regarding this recognition, please see the linked publication.

Contacts
Jenny Zhu
jenny@bluewolfcapital.com
212.488.3686

Joele Frank, Wilkinson Brimmer Katcher
Steve Frankel / Ed Trissel / Arielle Rothstein
212.355.4449

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Aug 23, 2021

Blue Wolf Capital Names Mike Sutter as Operating Partner

AUGUST 23, 2021, NEW YORK – Blue Wolf Capital Partners LLC (“Blue Wolf”), a New York-based private equity firm, today announced that Mike Sutter will be joining the firm as an Operating Partner focused on Blue Wolf’s investments in the industrials sector. Mr. Sutter most recently served as Chief Executive Officer of Airtech Vacuum Inc., a leading global designer and manufacturer of vacuum pumps, blowers and vacuum and compressor systems.

“One of Blue Wolf’s key differentiators is our team’s industry and operating expertise, and I am pleased to build on this talent with the addition of an industrial manufacturing veteran like Mike,” said Adam Blumenthal, Managing Partner of Blue Wolf. “Mike has a track record of success in improving operating performance and driving organic and inorganic growth, having led a variety of businesses throughout his career in the sectors in which we operate. He also brings a background in talent development and union environments, both of which are important to Blue Wolf’s ESG principles. I’m confident Mike will draw on his years of relevant experience as he works to support our industrial portfolio companies.”

Prior to his most recent role, Mr. Sutter served as President, Chief Executive Officer and as a Director of Chromalox, during which time Chromalox, then private, was successfully sold by a private equity firm to a publicly traded company. Before then, Mr. Sutter held leadership roles at ITT in the Industrial Process Division. Earlier in his career, Mr. Sutter was an executive at Flowserve, among other industrial companies. In these positions, he has focused on areas such as strategic planning, sales and operations management, global supply chain management, lean management and talent development.

Mr. Sutter stated, “Blue Wolf has a stellar track record and a reputation for removing complex operational barriers and driving significant value across its investments. I’m truly excited to be joining Blue Wolf as an Operating Partner and am eager to collaborate with Blue Wolf’s investment team and portfolio company management as the firm continues to grow its presence in the industrials sector.”

Aakash Patel, a Principal at Blue Wolf who concentrates on the firm’s investments in the industrials sector, added, “It’s an exciting time to be investing in and partnering with industrial manufacturing and distribution businesses. Mike is known for his ability to foster operational and organizational excellence, and his skillset is well-aligned with our investment approach. I look forward to working alongside him in his new role.”

About Blue Wolf Capital Partners
Blue Wolf Capital Partners LLC is a private equity firm that specializes in control investments in middle market companies. Leading by experience, and with a commitment to excellence, Blue Wolf transforms companies strategically, operationally and collaboratively. Blue Wolf manages challenging situations and complex relationships between businesses, customers, employees, unions, and regulators to build value for stakeholders. For additional information, please visit www.bluewolfcapital.com

Contacts
Jenny Zhu
jenny@bluewolfcapital.com
212.488.3686

Joele Frank, Wilkinson Brimmer Katcher
Steve Frankel / Ed Trissel / Arielle Rothstein
212.355.4449

View / Download PDF of Article

Jun 23, 2021

Blue Wolf Capital Announces Sale of Novo Building Products

June 23, 2021, NEW YORK – Blue Wolf Capital Partners (“Blue Wolf”), a New York-based private equity firm, today announced that it has entered into a definitive agreement to sell Novo Building Products LLC (“Novo”) to Hardwoods Distribution Inc. (TSX:HDI) (“HDI”), one of North America’s largest distributors of architectural grade building products to the residential, repair and remodel, and commercial construction industries.

Headquartered in Zeeland, MI, Novo is an industry leading manufacturer and value-added distributor of mouldings, millwork, stair parts and other specialty building products to national home retail centers and building material dealers throughout the United States and parts of Canada and Mexico.

Blue Wolf acquired Novo in 2016 from Tenon Limited, a New Zealand-based public company, and has since worked with the Novo team to execute on a value creation plan focused on achieving operational efficiencies and diversifying the company’s customer base and product portfolio through organic growth and M&A. In 2019, George Judd, a Strategic Advisor to Blue Wolf with a successful track record as a building products industry executive, was appointed CEO of Novo. His leadership greatly accelerated the value creation plan and has positioned Novo for long-term growth.

“This transaction represents an outstanding outcome for Blue Wolf and our LPs, as well as for Novo and its stakeholders, including its employees,” said Adam Blumenthal, Managing Partner of Blue Wolf. “Our experience with Novo demonstrates the value that Blue Wolf brings in transaction execution and as an owner. Our investment involved a highly complex carve-out from a publicly traded, international corporation. Over the course of the last five years, we leveraged our experience in the building products sector and effectively utilized our operating resources to advance the company’s position as an industry leader. I want to thank the entire Novo management team and the company’s more than 1,400 employees for their immense contributions in these efforts. We look forward to following Novo in its next phase of growth as it joins forces with HDI.”

“Under George’s leadership, the Novo management team executed a set of strategic initiatives that expanded the company’s footprint, diversified its product offering and improved its operational performance, creating a substantially larger, more diversified and more efficient enterprise,” added James Shovlin, Vice President of Blue Wolf.

Mr. Judd said, “Today marks an exciting day for Novo, and underscores the great progress we have made in partnership with Blue Wolf to significantly improve the company’s operational and financial performance and build upon its leadership position in the specialty building products sector. I am confident that HDI is the ideal long-term owner for Novo and expect that our employees will benefit from new opportunities as part of HDI’s larger platform. In addition, I am optimistic about the growth opportunities that lie ahead for Novo and HDI. Our complementary portfolio of product offerings will deliver significant value to our customers and other stakeholders.”

Transaction Details
The transaction is expected to close in late July or early August 2021, subject to completion of all necessary regulatory approvals and satisfaction of all closing conditions under the definitive agreement.

Rothschild & Co is serving as financial advisor and Holland & Knight is serving as legal advisor to Blue Wolf in connection with this transaction.

About Novo Building Products
Novo Building Products is a value-added distributor and manufacturer of specialty building products. Novo supplies mouldings, stair parts, doors, and other specialty millwork products to customers throughout the United States and in parts of Canada and Mexico. Novo operates out of 14 facilities, primarily in the Eastern and Midwestern U.S., Florida and Texas. The company’s divisions include Empire Moulding & Millwork, Southwest Moulding & Millwork, Ornamental Decorative Millwork, LJ Smith Stair Systems and Novo Direct.

Contacts
Jenny Zhu
jenny@bluewolfcapital.com
212.488.3686

Joele Frank, Wilkinson Brimmer Katcher
Steve Frankel / Ed Trissel / Arielle Rothstein
212.355.4449

View / Download PDF of Article