2018 marked the most active year in Blue Sage Capital’s 18-year history. The execution of three portfolio company exits, two new platform acquisitions, several tuck-in opportunities, and a number of personnel additions and promotions during the year positions us to continue our strong track record as patient, disciplined, top-quartile investors.
In February 2019, Blue Sage invested in All-State Industries.
Blue Sage Capital completed an investment in All-State Industries ("All-State") in February 2019. Headquartered in Des Moines, Iowa with six manufacturing facilities throughout the Midwest and Texas, All-State is a leading manufacturer of non-metallic components for OEMs across a diverse range of end markets. The company has a demonstrated history of partnering with its customers to design and manufacture solution-oriented products that are used for sealing, acoustics, thermal management, motion control, instrumental panel and impact absorption...more
Blue Sage Capital is pleased to announce its recently completed investment in All-State Industries, Inc. (“All-State”). Headquartered in Des Moines, Iowa with six manufacturing facilities located throughout the Midwest and Texas, All-State is a leading manufacturer of non-metallic components for OEMs across a diverse range of end markets. The Company was founded in 1974 by Bob Pulver and has a demonstrated history of partnering with its customers to design and manufacture solution-oriented products that are used for sealing, acoustics, thermal management, motion control, instrumental panel and impact absorption applications.
All-State’s CEO, Scott Pulver, commented, “We are excited about our partnership with Blue Sage and look forward to the next phase of our company’s growth. Blue Sage has an excellent track record of investing in family-owned manufacturing businesses, and we plan to leverage their strategic and financial resources in order to further expand All-State’s reach and...more
Blue Sage Capital announced today that it closed on the sale of PRIMUS Sterilizer Company, LLC (“PRIMUS” or the "Company") to the Chalmers Group of Companies, a privately-owned Canadian corporation headquartered in Mississauga, Ontario. The sale represents the thirteenth and final portfolio company exit for Blue Sage’s first fund, Blue Sage Capital, L.P.
Based in Omaha, Nebraska, PRIMUS is the leading independent manufacturer of steam sterilizers in the United States. The Company’s sterilizers can be found in premier research laboratories, hospitals and pharmaceutical companies throughout the world.
About Blue Sage
Blue Sage is an Austin, Texas-based private equity firm...more
Blue Sage Capital, an Austin, Texas-based private investment firm, is pleased to announce the additions of David Berry and Blake Jones to the investment team. David and Blake join Blue Sage as Associates. In their roles, they will assist with evaluating, structuring, due diligence, and financial monitoring of investment opportunities.more
Blue Sage Capital and Hanover Partners are pleased to announce their recently completed investment in Ligchine International Corporation ("Ligchine"). With primary manufacturing facilities in Darien, WI and an additional office in Floyds Knobs, IN, Ligchine is a globally-recognized, leading designer, manufacturer and marketer of laser-guided boom operated concrete screeds. The Company produces a diverse range of models under the ScreedSaver™ banner, and Ligchine’s products provide best-in-class concrete floor flatness and levelness results for its customers.
Ligchine’s co-founders, Gary and Peter Ligman, commented, “We are excited to partner with Blue Sage and Hanover to accelerate our Company’s growth trajectory. Both Blue Sage and Hanover have a strong track record leveraging their strategic and financial resources to help founder-owned businesses reach their full potential. We believe the investment will enable us to reach more customers while elevating our already top service levels.”...more
Blue Sage Capital announced today that it closed on the sale of Marine Accessories Corporation (“MAC”) to Patrick Industries, Inc. Based in Maryville, Tennessee, MAC is a manufacturer, distributor and aftermarket supplier of custom tower and canvas products and other related accessories to OEMs, dealers, retailers and distributors, as well as direct to consumers within the marine market. Blue Sage made its initial investment in MAC in July 2015, and during its ownership, assisted MAC with multiple tuck-in acquisitions.
Blue Sage Co-Founder, Jim McBride, explained, “We were honored and privileged to partner with MAC’s proven and motivated leadership team to accelerate the business’s growth trajectory in a rebounding market. MAC is now a larger and stronger organization, and we are excited to follow the next stage of the company’s evolution under Patrick Industries’ leadership.”
Blue Sage Capital announced today that it closed on the sale of C&M Conveyor, Inc. to CapitalWorks, LLC, a Cleveland-based private equity firm.
Based in Bloomington, Indiana, C&M Conveyor designs, engineers, manufactures and services turnkey automated material handling and conveying systems, serving as a value-added and critical partner to its industrial and commercial customers, particularly in the corrugated box industry. Blue Sage made its initial investment in C&M Conveyor in July 2006.
Blue Sage and other stakeholders were represented in the transaction by BB&T Capital Markets.
About Blue Sage
Blue Sage is an Austin, Texas-based private equity firm specializing in growth, recapitalization and buyout financings of small middle market companies. With over fifteen years as a team and over $200 million in assets under management, we have extensive experience transitioning founder-run businesses and seek companies with leadership in their...more
We begin each year with the goal of identifying two or three opportunities to partner with business owners to build and grow interesting, profitable, small/middle-market companies. To find these two or three "gems," we evaluate over 300 opportunities. Our patience and discipline were rewarded again this year.more
AUSTIN, Texas — Blue Sage Capital is pleased to announce its recently completed investment in Americo Manufacturing Company ("Americo"). Headquartered in Acworth, GA, with additional facilities in Cartersville, GA and Los Angeles, CA, Americo is a globally-recognized, leading manufacturer of floor maintenance pads and a top manufacturer of commercial and retail floor matting products in the USA. The Company produces a diverse range of high-loft, nonwoven products, which include floor maintenance pads as well as specialty fabrics which are utilized in a variety of industries. Aside from nonwovens, Americo also designs and manufactures a complete line of vinyl-backed, walk-off floor mats for use in industrial, promotional, retail, custom and specialty market applications.
Americo’s CEO, Lenny Shutzberg, commented, “We are delighted to be partnering with Blue Sage as we continue to grow our business from the solid foundation established nearly 50 years ago. Blue Sage’s expertise of investing in...more
AUSTIN, Texas – Lower middle-market private equity firm Blue Sage Capital is pleased to announce its partnership with John Gustafson and Trailcreek Capital Group in the formation of Frontier Waste Holdings. Headquartered in Dallas, Texas, Frontier is a provider of municipal solid waste services to the municipal, residential, commercial and industrial markets. The initial Frontier platform includes the acquisitions of Access Disposal Services, serving Hillsboro, Texas and the market area between Waco and Ft. Worth, Texas and K2 Waste Solutions, servicing the areas around Corpus Christi and Liberty County, Texas markets. As part of those acquisitions, Tim Henderson (Access) and Bill Killian (K2) have joined the Frontier leadership team. Leading Frontier is CEO John Gustafson, a veteran in the waste industry with prior experience in senior management roles at Progressive Waste Solutions and IESI.
Jake Friemel has also joined the company as Chief Financial Officer. Previously, Friemel worked at Comerica as a Vice President in the bank’s Environmental Services Department....more
AUSTIN, Texas - Despite an unpredictable political climate in 2016, Blue Sage enjoyed an active and productive year. We trained our focus on identifying compelling investment opportunities, building value alongside our operating partners, and evolving our team to generate top quartile risk-adjusted returns for our investors.more
AUSTIN, Texas – Blue Sage Capital (“Blue Sage”) is pleased to announce the recently completed acquisition of Broken Arrow Communications, Inc. (“BACOM”). Headquartered in Albuquerque, NM with 13 locations throughout the Western U.S., BACOM is a leading provider of services for the installation, modification, construction, and maintenance of wireless communication facilities and related infrastructure. As a result of BACOM’s deep service offering and reputation for high-quality work, the company is poised to take advantage of strong tailwinds in the wireless industry including the expected rollout of 5G wireless networks and continued adoption of the Internet of Things technology. Blue Sage partnered with Private Equity Capital Corporation (“PECC”), a Rancho Santa Fe, CA-based private investment firm on the transaction.
President of BACOM, Ryan Calhoun, remarked “the BACOM management team is excited to work with Blue Sage and PECC in the company’s next phase of growth. Through this partnership, we have increased conviction that BACOM is in a position to benefit from the wave...more
AUSTIN, Texas - Lower middle-market private equity firm Blue Sage Capital (“Blue Sage”) is pleased to announce the recently completed acquisition of Magnum Systems, Inc. (“Magnum”). Headquartered in Kansas City with an additional manufacturing facility in Parsons, Kansas, Magnum, through its Taylor Products and Smoot brands, is a leading designer and manufacturer of branded packaging and material handling solutions serving a diverse set of end markets, applications, and customers. The Company’s highly engineered products are designed to handle free-flowing materials that are difficult to package or convey in all types of manufacturing environments. Magnum’s products are recognized throughout the industry for their superior quality, performance, reliability and ease of use.
President and CEO of Magnum, Travis Wallace, remarked, “The Magnum management team is thrilled to partner with Blue Sage as we seek to lead the company into its next stage of growth. The Magnum brand is highly respected in the industry and with the resources and skill set Blue Sage can bring to bear, we...more
Blue Sage Capital rounded out a productive and rewarding year.
Blue Sage Capital II
In July, we completed the purchase of Marine Accessories Corporation (“MAC”). Located in Knoxville, TN, MAC is the leading designer and manufacturer of wakeboard towers, bimini tops, custom boat covers and related accessories sold to OEMs, dealers and direct to consumers.
In August, we partnered with management to complete the recapitalization of this Hot Springs, AR manufacturer of timber automation equipment. Owned and operated by a team that has worked together for over three decades, Baxley-LogPro manufactures equipment that facilitates the efficient flow of timber in sawmills: scanners, sorters, stackers, edgers, and...more
AUSTIN, Texas – The Baxley-LogPro Holdings, Inc. (“Baxley-LogPro”) management team and Blue Sage Capital (“Blue Sage”) are pleased to announce that Blue Sage recently completed a majority investment in Baxley-LogPro. Located in Hot Springs, AR, with an additional manufacturing facility in Baxley, GA, Baxley-LogPro is a leading manufacturer and supplier of equipment and systems for the forest products and biomass industries. Baxley-LogPro represents the combined entity of Baxley Equipment Company (“Baxley”) and Price LogPro, LLC (“LogPro”). Baxley manufactures and supplies blue chip customers and independent sawmills with custom engineered equipment and control systems that maximize lumber yield and reduce labor costs. LogPro manufactures machinery for sawmill logyards, engineered wood products plants, pulp and paper plants, chip mills, and pellet mills.
President Russell Kennedy allowed, “We are excited to partner with Blue Sage as we work to take Baxley-LogPro into its next stage of growth and development, and believe that the combined skills and resources will allow...more
AUSTIN, Texas – The Marine Accessories Corporation (“MAC”) management team and Blue Sage Capital (“Blue Sage”) are pleased to announce that Blue Sage recently completed a purchase of MAC. Located in Maryville, TN, MAC is the leading designer and manufacturer of wakeboard towers and accessories and a leading producer of custom-patterned cockpit covers, bimini tops, and boat covers. Through its industry-leading brands and products, MAC serves a broad base of leading boat builders, dealers, retailers, e-commerce sites, distributors, and consumers directly.
Jim McBride, Co-Founder and Managing Member of Blue Sage, said, “MAC is poised to take advantage of both the recovery in the boating market and the proliferation in towers across all boat types. MAC is the clear leader in this space, and we are excited to provide capital to help the business accelerate its growth trajectory. We are honored and privileged to partner with such a proven and motivated team.”
Rick Reyenger, CEO of MAC said, “Blue Sage’s investment is well timed with the rebound in the boating industry. We...more
Austin, TX – Blue Sage Capital announced today that it has completed the sale of Parker School Uniforms, LLC to an investment group led by Argosy Investment Partners, Plexus Capital and Salem Investment Partners. Houston-based Parker is the leading provider of premium school uniforms to private and charter schools across the Sunbelt region of the United States including Texas, California, Oklahoma, Kansas, Alabama, Mississippi, Georgia, Tennessee, and Kentucky. Blue Sage made its initial investment in a recapitalization transaction, partnering with owner Mac Shuford, in August 2008. During its ownership, Blue Sage assisted Parker with multiple tuck-in acquisitions and a CEO transition.
Blue Sage Co-Founder, Peter Huff, explained, “We were excited to partner with Mac and help him transform the company, including the acquisition of four companies that helped build Parker’s business substantially. Parker is now a larger and stronger organization, and we are excited for current CEO, Troy Pike, in the next stage of the company’s evolution. Our investment in Parker also produced...more
Austin, TX – Blue Sage Capital, an Austin, Texas-based private investment firm, is pleased to announce the addition of Davis Miller to its team.
Davis Miller joins Blue Sage as an Associate. In his role with Blue Sage, Davis assists with evaluating, structuring, due diligence, and financial modeling of investment opportunities.
Previously, Davis worked as an analyst in the Natural Resources Investment Banking Group at Barclays in Houston, where he advised on mergers and acquisitions, capital markets activities, financings, and other strategic transactions in the oil and gas sector.
Davis graduated with Highest Honors from the University of Texas with a Bachelor of Business Administration degree in Finance from the Business Honors Program and a minor in Accounting.
About Blue Sage Capital
Blue Sage Capital is an Austin, Texas-based private equity firm specializing in growth, recapitalization and buyout financings of smaller...more
Austin, TX – Blue Sage Capital is pleased to announce the promotion of Jonathan Pearce and Eric Weiner to Vice President. In this role, Jonathan and Eric will be responsible for sourcing, evaluating, negotiating structuring, managing due diligence, and closing investment opportunities and subsequent portfolio company monitoring.
Jonathan joined the team in May 2013 after spending four years with Avista Capital Partners, a generalist middle-market private equity firm with $5 billion under management. While at Avista, Jonathan focused on the evaluation and execution of investments primarily in the energy sector. Jonathan is a Certified Public Accountant and a graduate of The University of Texas at Austin, where he earned a Masters in Professional Accounting and a Bachelor of Business Administration with a Minor in Finance.more
Austin, TX – Blue Sage Capital announced today that it closed on the sale of its interest in Hoak Media, LLC to Gray Television, Inc. Pending regulatory approval, the deal was first announced in November 2013 as part of a series of transactions through which Gray Television and Excalibur Broadcasting, LLC agreed to acquire from Hoak Media and Parker Broadcasting, Inc. a total of 15 network-affiliated television stations in seven markets for $335 million in cash and a working capital adjustment. Blue Sage made its initial investment in Hoak Media as a minority investor in January 2007.
Blue Sage Capital recently closed its second fund, Blue Sage Capital II, L.P. http://www.bluesage.com/blue-sage-exits-hoak-media/ http://www.bluesage.com/blue-sage-exits-hoak-media/Blue Sage invests in profitable, growing, lower middle-market industrial, manufacturing, service and distribution companies with revenue of $20 to $100 million and EBITDA of $5 to $10 million. Of particular interest are opportunities to partner with founders as the first round of institutional capital in a...more
Austin, TX – Blue Sage Capital announced today that it sold its interest in MultiCam, Inc. to Rosewood Private Investments. Dallas-based MultiCam is one of the leading manufacturers of CNC cutting equipment. Its product line includes routers, digital finishing, lasers, water jets, and plasmas that are sold worldwide through a unique global distribution network. Blue Sage made its initial investment in a recapitalization transaction, partnering with founder Ken Koelling, in April 2008.
“Blue Sage was an invaluable resource in growing our company. Their strategic input and guidance allowed us to fundamentally transform what we do by systematically undertaking new product development, recruiting and creating aligned interests with a top-flight management team, and generally inculcating a performance-oriented, metrics-driven culture. They were outstanding partners.”
Blue Sage co-founding partner, Jim McBride, allowed...more
Blue Sage Capital is pleased to announce that it is the recipient of two prestigious awards. The U.S. Small Business Administration named Blue Sage Capital the 2013 Small Business Investment Company (SBIC) of the Year. Blue Sage, since its inception in 2003, has consistently proven to be a leading participant in the SBIC program.
Additionally, Mergers & Acquisitions named Blue Sage its Seller of the Year for its original investment in Controlled Recovery, Inc. (CRI) and subsequent investment in R360 Environmental Solutions. Blue Sage, during its six year hold, had a return of over 63 times the capital it originally invested in CRI, and sold R360 to Waste Connections (NYSE: WCN) for over $1.3 billion in October 2012. Click here for more information.more
Palm Beach, FL – The Small Business Investor Alliance (SBIA), the leading association for lower middle market private equity funds and investors, today announced that Ashbrook Simon-Hartley (Ashbrook), a portfolio company of SBIA member firm Blue Sage Capital and a leading provider of water and wastewater treatment solutions, won its Portfolio Company of the Year Award. The SBIA honored Ashbrook and Blue Sage Capital with the award today at its annual National Summit for Middle Market Funds, the premier private equity conference for the lower middle market, in Palm Beach, Florida.
The SBIA Portfolio Company of the Year Award demonstrates the effectiveness of private equity financing and the benefits of the partnership between private equity investors and small businesses. Based in Houston, Texas, Ashbrook was selected from among a group of successful private equity-backed companies throughout the country. Ashbrook is based in an economically disadvantaged area of Houston, where it hires local employees. Ashbrook has additional offices and service hubs in...more
AUSTIN, Texas – Blue Sage Capital is pleased to announce today the addition of two hires to its team: Eric Weiner as a Senior Associate and Erica Holland as an Associate. Blue Sage closed its second fund of $150 million earlier this year and is actively seeking investment opportunities.
Eric Weiner joins Blue Sage as a Senior Associate. In his role with Blue Sage, Eric assists with evaluating, structuring, due diligence, and financial modeling of investment opportunities and maintains portfolio company monitoring responsibility. Eric joins Blue Sage following the completion of his MBA from the Stanford Graduate School of Business, where he was an Arjay Miller Scholar.
Peter Huff, Blue Sage Co-Founder and Managing Member, said, “We are thrilled to have Eric join our team. He brings with him extensive portfolio company and sourcing experience that will benefit Blue Sage as we seek to...more
AUSTIN, Texas – Blue Sage Capital, an Austin, Texas-based private investment firm, announced today the first and final closing of its oversubscribed second fund, Blue Sage Capital II, L.P. Capital commitments totaled $150 million, above the $100 million target size. Blue Sage received strong support from existing investors as well as new limited partners. Blue Sage’s investors include a diverse group of limited partners such as large financial institutions, private equity fund of funds, prominent family offices, endowed trusts, government entities, and the partners of Blue Sage, who represent the largest commitment to the fund.
Blue Sage is led by founding members, Peter Huff and Jim McBride, and has a team of five investment professionals including Adam Norris, Chris Petrini, and Ali Williford. Eric Weiner, a former Berkshire Partners professional in Boston, is slated to join the team this summer after he completes his MBA at Stanford. The firm anticipates adding one or two additional investment professionals early next year.
Wells Fargo’s Tim Rafalovich, a...more
AUSTIN, Texas – Blue Sage Capital is pleased to announce it has completed the sale of one of its portfolio companies, Visual Merchandising, Inc., to Noa Visual Group, S.L.
Visual Merchandising, Inc. (“VMI”), headquartered in Broomfield, Colorado, is a state-of-the-art designer, manufacturer, and distributor of custom mannequins, forms, and other visual merchandising products to the global retail industry. With a number one market share position in the U.S., VMI markets its products under the brands of Fusion Specialties, Inc. and Goldsmith, Inc. VMI’s customers include Nike, J. Crew, Kate Spade, The North Face, and J.C. Penney.
Jim McBride, Co-Founder and Managing Member of Blue Sage, served on the VMI Board of Directors and was integrally involved with the VMI management team, “VMI presented a unique opportunity to invest in a leading company in a truly niche industry.”
Blue Sage initially invested in VMI in 2007 and completed the acquisition of Goldsmith, Inc. in 2009 during the downturn to strategically expand VMI’s product offering. Over its hold, Blue Sage...more
AUSTIN, Texas – Blue Sage Capital announced today that it has completed the sale of one of its portfolio companies, R360 Environmental Solutions, to Waste Connections, Inc. (NYSE: WCN).
R360, headquartered in Houston, Texas, is a leading provider of non-hazardous oilfield waste treatment, recovery and disposal services in several of the most active natural resource producing areas in the United States, including the Permian, Bakken, and Eagle Ford Basins. R360 operates 26 facilities across Louisiana, New Mexico, North Dakota, Oklahoma, Texas, and Wyoming.
Blue Sage has had a longstanding commitment to the oilfield waste treatment sector. The firm previously owned Controlled Recovery, Inc. (CRI), which was acquired by R360 in 2010. Peter Huff, Co-Founder and Managing Member of Blue Sage, served on the R360 Board of Directors and helped steer R360, utilizing his significant experience from CRI. Peter said, “We have been active owners in this market since 2006. Our businesses have steadily grown during this time. This transaction will deliver exceptional returns to our...more
AUSTIN, Texas – Blue Sage Capital is pleased to announce it has completed the sale of Ashbrook Simon-Hartley to Swedish corporate buyer Alfa Laval. Blue Sage was the majority controlling shareholder of Ashbrook.
Headquartered in Houston, Texas, Ashbrook is an industry leader in liquid and solid separation technologies for the wastewater industry. The company provides highly efficient and cost effective solutions for dewatering and process system requirements for large customers. Ashbrook has a global presence with offices in the United States, the United Kingdom, Chile, and Brazil.
Blue Sage Capital invested in Ashbrook in 2005 and completed two follow-on acquisitions that materially expanded the company’s product offering. The private equity firm partnered with Ashbrook’s management team to achieve continued growth and increased profitability throughout Blue Sage's ownership. Bob Williams, President of Ashbrook, said “We were able to partner with an outstanding team at Blue Sage. Blue Sage provided active operational expertise, and we grew the business together. We...more
AUSTIN, Texas — Blue Sage Capital is pleased to announce that it has successfully exited its investment in Controlled Recovery, better known as CRI. Blue Sage was the majority controlling shareholder of CRI. CRI owns and operates the largest facility for non-hazardous oil and gas waste in the United States. Peter Huff, a Founding Board Member of CRI and leader of the deal team, said that “the sale of CRI to R360 Treatment not only provides the company with an opportunity to continue its rapid expansion, but also provides Blue Sage with a very strong return on its invested capital.” John Barnidge, CEO of CRI, said that “Peter Huff and his team at Blue Sage Capital did an incredible job negotiating and closing the sale of CRI to R360 Treatment. I think this represents a great outcome for all parties. Blue Sage was also extremely active providing frontline operational expertise to my team as we jointly built this company.” Wayne Patterson, Founder of Atreides Capital, a co-investor in CRI, said that his firm “enjoyed working with the CRI management team and Blue Sage and was pleased...more