Tonka Bay Equity Partners Acquires CORWIL

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 Backs ESP

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.

Molly Simmons of Tonka Bay Equity is Named Chair of the SBIA

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.

Simmons Elected SBIA Chair

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 Backs P.T. International Corporation

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 Appoints Reck as Investment Associate

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 Acquires Quick Cable in MBO

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 Adds Jory Kutchmarek

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 Raises $150 Mln With Fund III

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 Sells Resort Co.

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.

Tonka Bay Equity Announces Circuit Check Dividend Recap

Minnesota private equity firm Tonka Bay Equity Partners completed a dividend recapitalization of its portfolio company, Circuit Check Holdings, which provides test solutions for printed circuit board assemblies. Specifics on the transaction were not publicized, but Tonka Bay and other Circuit Check shareholders get a cut and the rest will be used to fund growth.

Slominski Named Principal at Tonka Bay

Tonka Bay Equity Partners, the Minnesota-based PE firm, has named Shane Slominski a principal with the firm. Slominski joined Tonka Bay in 2006 as a Senior Associate and was promoted to Director in 2007. Prior to joining Tonka Bay, Slominski was a Manager in the Minneapolis office of Deloitte & Touche LLP.

Andrew Petz Joins Tonka Bay

Andrew Petz has joined Tonka Bay Equity Partners as an analyst. He previously was an analyst in Piper Jaffray’s investment banking and merchant banking groups.

Molly Simmons Leaving Gemini for Tonka Bay

Molly Simmons has stepped down as a managing director with Gemini Investors, in order to join Tonka Bay Equity Partners. An official announcement is expected shortly. In an email to friends and colleagues, Simmons wrote: Tonka Bay Equity Partners is a veteran private equity firm focused on recapitalizations, buyouts and growth capital transactions in middle […]

Tonka Bay and Boulder Brook purchase North American Industries

North American Industries, a provider of overhead cranes, has sold to Boulder Brook Partners LLC and Tonka Bay Equity Partners LLC for an undisclosed amount. Cobblestone Advisors, a specialty group of Harris Williams & Co., advised on the deal. Press Release: Cobblestone Advisors is pleased to announce the sale of North American Industries, Inc. to […]

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