Ridgemont Equity Partners promotes

Ridgemont Equity Partners has promoted Jack Purcell to Partner and Kurt Leedy to principal. Leedy will be relocating to Ridgemont’s Dallas office in the near future.

Ridgemont Equity Partners and management form Pintail Oil and Gas

Ridgemont Equity Partners and the company’s founders have formed Pintail Oil and Gas. The company will focus on acquiring, enhancing, and developing oil and gas properties primarily along the onshore Gulf Coast. Pintail’s strategy will be supported by over $50 million of equity capital committed by Ridgemont and Pintail’s management team.

Ridgemont and Post Oak Commit $100m to Titan River

Ridgemont Equity Partners and Post Oak Energy Capital have announced a $100 million capital commitment to the management team of Titan River Energy. Titan River’s management team will be co-investing alongside Ridgemont and Post Oak. No other financial terms of the transaction were disclosed. Titan River is a newly formed oil and gas company headquartered in Fort Worth, Texas, with an additional office in The Woodlands.

Ridgemont Equity Partners: We’re JAM-ming

JAM Distributing Co., a distributor of lubricants, fuel and other products, has been acquired by North Carolina-based private equity firm Ridgemont Equity Partners. Specifics on the deal were not publicized. JAM is based in Houston.

AccentHealth Acquires Havas’ Impact Wallboard Business

AccentHealth, a health education television waiting room network, has acquired the patient education wallboard business of HavasImpact division. AccentHealth is based in New York City and Tampa, FL and is owned by M/C Partners, Ridgemont Equity Partners and senior management.

Unite Private Networks to Buy Fiber Optic Network in Nebraska

Kansas City, Missouri-based communications company Unite Private Networks (UPN) is acquiring a fiber-optic network from Zito Media for an undisclosed amount of money. The network covers southeast Nebraska. PRESS RELEASE: Unite Private Networks (UPN) today announced an agreement with Zito Media for UPN to acquire an 838 route mile fiber-optic network covering southeast Nebraska and […]

Lightower Fiber Gets $380 Mln Loan from GE Capital

GE Capital’s TMT group has provided a $380 million credit facility to Lightower Fiber Netwrosk. Pamlico Capital, M/C Venture Partners and Ridgemont Equity Partners own Lightower. Boxborough, Mass.-based Lightower is a metro fiber network and bandwidth service company. PRESS RELEASE GE Capital’s Telecom, Media and Technology (TMT) financing business today announced it served as administrative […]

Slideshow: Spinning Their Way to New Investors

Investment firms are being spun out of banks left and right—some, to keep companies in compliance with the new requirements imposed on banks via Dodd-Frank. peHUB has been tracking some of the spin-outs seeking capital, and some others, that have not yet needed to fundraise—but soon, might. While the fundraising market has been generous to some private equity firms, other PE shops could face difficulty bringing in capital absent of their big-brother LPs. Only time will tell….

Ridgemont Equity Partners Buys Aurora Parts

Charlotte, N.C.-based buyout shop Ridgemont Equity Partners bought a majority stake in Aurora Parts & Accessories, a distributor of aftermarket and replacement semi-trailer parts and accessories. Financial terms of the deal were not released. Aurora is based near Indianapolis. NXT Capital, DE Shaw Direct Capital Portfolios and BB&T Capital Partners Mezzanine Fund II provided financing for the deal.

Ridgemont Equity Partners Buys Gallus Biopharmaceuticals

Middle-market buyout shop Ridgemont Equity Partners has acquired a majority stake in Gallus Biopharmaceuticals, a biologics contract manufacturing company based in St. Louis, Mo. Terms of the deal were not disclosed. Ridgemont Equity Partners is a Charlotte, N.C.-based private equity firm.

Elson to Star Avenue Capital

Star Avenue Capital, the growth equity firm formed by Irving Place Capital and Creative Artists Agency, has added Craig Elson as a managing director. Elson’s experience includes working with Banc of America Capital Investors, the predecessor to Ridgemont Equity Partners, and the Turner Broadcasting System.

Midway Truck Parts Agrees to Sell 14 Locations to FleetPride

FleetPride, which is backed by Investcorp and Ridgemont Equity Partners has agreed to buy 14 locations from Midway Truck Parts. The deal includes 13 Midway Truck locations in Illinois and one in St. Louis. However, the Midway Trailer Sales & Service division is not part of the deal. Financial terms were not announced.

Treasury Blesses ‘Feeder Funds’ Under Volcker Rule

The Treasury Department’s guidance on the Volcker Rule, published this week, says regulators can allow banks to offer “feeder funds” for customers to invest in private equity and hedge funds. But it also encourages regulators to eliminate loopholes that banks might try to use to get around restrictions on their direct private equity and hedge fund investments.

The 81-page report, released Tuesday by the department’s Financial Stability Oversight Council, fulfills a requirement of the Dodd-Frank financial reform law, which will ultimately be enforced by the Federal Reserve, the FDIC and other federal agencies. The report offers only a general discussion of the Volcker Rule, a provision of the law that bans banks from proprietary trading, as well as from making investments in third-party private equity and hedge funds. Another key requirement of the law: Banks can commit no more than 3 percent of their core, “Tier One” capital, to their own sponsored private equity and hedge funds, nor can they provide more than 3 percent of the commitments to such funds.

Ridgemont Equity Will Seek New LPs in 2011

Ridgemont Equity Partners, the North Carolina-based private equity firm, will spend part of 2011 looking to replace its lone LP with a batch of new ones for its next fund, multiple sources confirmed. Currently, the PE shop is reaching out to third-party investors, although it anticipates it will still work with BofA in the future, […]

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