Tonka Bay Equity Partners has acquired CORWIL Technology Corporation. Tonka Bay partnered with investor/CEO and industry veteran Matt Bergeron and co-founders Rob Corrao and Finn Wilhelmsen in this transaction.

Tonka Bay Equity Partners has made an investment in Engineered Specialty Products. Tonka Bay partnered with current management in this transaction. ESP is Tonka Bay’s third investment from its recently formed third fund, with $150 million in available capital.

Tonka Bay Equity Partners, a Minnetonka, Minn.-based private equity firm, has announced that one of its principals, Molly Simmons, has been elected as chair of the board of the Small Business Investor Alliance (SBIA). Simmons has served on the SBIA board for four years.

Tonka Bay Equity Partners has appointed principal Molly Simmons as chair of the board of the Small Business Investor Alliance. Simmons has served on the SBIA board for four years, and brings over twelve years of middle market private equity experience to this role.

Tonka Bay Equity Partners has backed P.T. International Corporation. Tonka Bay partnered with current management, including president Thomas Haffner, in this recapitalization transaction. Based in Charlotte, NC, PTI is a supplier of branded European and American standard (metric & inch) industrial power transmission products.

Tonka Bay Equity Partners has appointed Matt Reck as an investment associate. Prior to joining Tonka Bay, Reck was an associate in the Minneapolis office of Harris Williams & Co, a middle market investment bank. PRESS RELEASE Tonka Bay Equity Partners LLC (“Tonka Bay”) announced that Matt Reck has joined the firm as an Investment [...]

Tonka Bay Equity Partners has acquired electrical storage business Quick Cable Corporation. Tonka Bay teamed up with current management, including newly appointed president Robert Hoganson, to acquire the company from John Shannon, who will retain an ownership interest and will serve as business development advisor. Quick Cable is Tonka Bay’s first platform company in its [...]

Tonka Bay Equity Partners named Kory Kutchmarek as an investment associate. Previously, Kutchmarek was a manager in the Minneapolis office of the accounting firm Ernst & Young. Minnetonka, Minn.-based Tonka Bay Equity Partners focuses on lower middle market businesses in the manufacturing, business services and distribution sectors. PRESS RELEASE Tonka Bay Equity Partners LLC (“Tonka [...]

Tonka Bay Equity Partners’ third fund came in at $150 million, above its initial target.

The Minnetonka, Minn.-based PE firm had planned to raise $125 million for fund III, according to a statement. Instead, Tonka Bay collected $63 million in private capital and, through the SBIC, leveraged the pool to $150 million, says Cary Musech, a Tonka Bay managing principal.

Tonka Bay didn’t use a placement agent, he says. Marketing began in February. “It went extremely quickly,” Musech says of the fundraising. Tonka Bay ended up turning away some investors, he says.

Tonka Bay Equity Partners, the Minnesota-based private equity firm, is selling The Resort Company, a vacation property rental company in Colorado, to Wyndham Vacation Rentals, part of the listed Wyndham Worldwide Co. Tonka Bay recapped the company in Sept. 2007.