Silver Hill Energy Partners has closed its fourth partnership and second institutional private equity fund, Silver Hill Energy Partners IV. The oversubscribed fund garnered total capital commitments of $1.13 billion from a diverse group of institutional investors, including endowments, pension funds, and family offices, many of whom are repeat investors.
“The strong demand and oversubscribed interest we experienced with Silver Hill IV is reflective of institutions’ continuing appetite for compelling risk-adjusted returns in the energy sector,” Silver Hill Founder and CEO Kyle D. Miller said. “We are proud of the high-quality portfolio we have strategically built and developed over the last several years, and we are extremely grateful for our partners and the shared sentiment they’ve shown through their support of our latest fund.”
This new fund continues the company’s focus on the direct ownership, operation, and management of onshore oil, natural gas, and related infrastructure assets in key U.S. basins. Since its inception in 2011, Silver Hill has raised a total of $2.875 billion in cumulative capital commitments.
Infrastructure Solutions Company Arcosa Acquires Construction Materials Business of Stavola for $1.2 Billion
Arcosa, a provider of infrastructure-related products and solutions in construction, engineering, and transportation markets, has acquired construction materials business Stavola Holdings Corp. for $1.2 billion in cash.
“Since becoming an independent public company in 2018, Arcosa has successfully executed against its long-term vision to grow in attractive markets and reduce the complexity and cyclicality of the overall business through strategic acquisitions and select divestitures,” Arcosa President and CEO Antonio Carrillo said. “Over that time, we have expanded our Construction Products business both organically and inorganically, deploying approximately $1.5 billion on value enhancing acquisitions to date and increasing our aggregates presence in the top 50 MSAs.”
Stavola was founded in 1948 and is a materials company based in the New York-New Jersey area. Since the end of June, the company has generated $283 million in revenue and $100 million in adjusted EBITDA. The structure of the transaction is expected to create tax benefits for Acrosa with a net present value of roughly $125 million.
StoneTree Investment Partners Closes Fund at $155 Million
StoneTree Investment Partners, a private equity firm focused on lower middle market buy-outs in the industrial and manufacturing sectors in the U.S. and Canada, has closed its fund, StoneTree Investment Partners Fund I at a hard cap of $155 million. The fund achieved its target in just over two months, attracting institutional investors including family offices, foundations, and pension funds.
“We are thrilled to partner with a remarkable group of blue-chip institutional investors, including multiple long-standing relationships,” StoneTree Partner Joel Stanwood said. “We are grateful for the opportunity to support the respective missions of world-class institutions as we pursue StoneTree’s own mission and purpose of ‘Transforming Industrials. Investing in People’.”
The fund will primarily seek controlling equity interests in lower middle market industrial businesses, with a focus on manufacturing, leveraging StoneTree’s operational expertise to drive growth and create opportunities for employees. Pacenote Capital served as the exclusive agent for the fund, facilitating a streamlined fundraising process, while McGuireWoods provided legal counsel.
Texoma Semiconductor Tech Hub Receives $500,000 Consortium Accelerator Award
The Texoma Semiconductor Tech Hub has received a $500,000 Consortium Accelerator Award from the U.S. Department of Commerce’s Economic Development Administration to enhance semiconductor production in North Texas and southern Oklahoma. This marks TSTH’s second federal award, following a $400,000 strategy development grant received in October 2023.
“We are delighted to accept this award from EDA that furthers the work of the Texoma Semiconductor Tech Hub,” Suku Nair, vice provost for research and CIO at SMU said. “We continue to expand our consortium by adding new members, and this support from EDA shows that we are headed in the right direction.”
The initiative focuses on deploying FabletsTM labs at community colleges and mobile labs for various semiconductor-related processes. The Tech Hubs Program, part of the Biden-Harris Administration’s Investing in America agenda, aims to expand critical technology production and was established under the bipartisan CHIPS and Science Act.
“The Biden-Harris Administration is working to build world-class ecosystems across the nation that will advance America’s global leadership in technologies of the future, catalyze the creation of good jobs, and strengthen U.S. national and economic security,” assistant secretary of commerce for economic development Alejandra Y. Castillo said. “These Consortium Accelerator Awards demonstrate the level of excellence every designee embodies and will enable Tech Hubs to not only keep up their momentum but also leverage their coveted designation to attract additional collaboration and capital.”
Authors
Bridget Reis
View Profile
