Northleaf Capital Partners has provided undisclosed financing to an affiliate of Kidd & Co LLC (KCO), an Old Greenwich, Connecticut-based family office private equity firm.
The funds raised will be used to refinance KCO’s existing credit facilities, support portfolio growth, and make new platform investments.
KCO, which currently backs five U.S.-based mid-market companies, invests on behalf of the Kidd family. It is led by Founding Partner William Kidd.
Based in Toronto, Northleaf is a private equity, infrastructure and private credit investment firm.
Photo: William Kidd, founding partner of Kidd & Co LLC.
Northleaf announces structured financing for a family office private equity investor
TORONTO (November 1, 2018) – Northleaf Capital Partners (Northleaf) today announced that it completed a financing for an affiliate of Kidd & Company, LLC (KCO), a family office private equity investor based in Old Greenwich, CT. Northleaf’s investment will be used to refinance KCO’s existing credit facilities, support the growth of the current portfolio and invest in new platform opportunities.
The KCO portfolio consists of five US-based companies, each of which is a leader in its respective industry:
• Family RV, a multi-location dealership of new and used RVs, parts and accessories and related services;
• Imaginetics, a manufacturer of precision metal components and assemblies for the aerospace industry;
• Logistyx Technologies, a provider of end-to-end parcel shipping software and solutions to manufacturers, retailers/e-retailers and third-party logistics companies;
• NextPhase Medical Devices, a contract manufacturer of electro-mechanical capital equipment and single-use disposables to the medical device industry; and
• Numet, a manufacturer of high precision parts for use in gas turbine engines in the aerospace industry.
“We are excited to begin a long-term partnership with Bill Kidd and the KCO team,” said Matt Shafer, Managing Director at Northleaf. “This transaction demonstrates Northleaf’s ability to provide flexible structuring options to well-established private equity investors, whether operating independently or through a traditional private equity fund model.”
Bill Kidd, Founding Partner of KCO, added, “Northleaf understood our objectives early on and provided a creative, flexible structure that met our needs. Their ability to provide debt, equity and structured capital makes Northleaf an ideal partner to support the continued growth of our portfolio and firm overall.”
Upwelling Capital Group LLC acted as financial adviser to KCO.
About Northleaf Capital Partners
Northleaf Capital Partners is an independent global private markets fund manager with more than $11 billion in private equity, private credit and infrastructure commitments under management on behalf of public, corporate and multi-employer pension plans, endowments, foundations, financial institutions and family offices. Northleaf’s 110-person team, located in Toronto, Montreal, London, New York, Chicago, Menlo Park and Melbourne, is focused exclusively on sourcing, evaluating and managing private markets investments globally. Northleaf’s portfolio includes more than 250 active investments in 14 countries, with a focus on mid-market companies and assets. For more information on Northleaf, please visit www.northleafcapital.com.
About Kidd and Company, LLC
Kidd & Company, LLC is a family office private equity investor. KCO sponsors control equity investments in the lower middle market where the complementary skills and experience of the firm’s partners can be applied to create significant value over time. The firm invests in single company growth transactions and the simultaneous acquisition of multiple companies as part of a thesis-driven investment strategy. KCO implements strategic and operational improvements that drive above-market growth in revenue and earnings, both organically and through accretive acquisitions. The diverse skill set of the firm’s partners allows KCO to bring management, operational, sales and marketing, corporate finance, and M&A expertise to bear to substantially increase the total value of its investments. For more information on KCO, please visit www.kiddcompany.com.
About Upwelling Capital Group LLC
Upwelling Capital Group LLC (“Upwelling”) is a boutique investment advisor that provides customized strategies and liquidity solutions to enhance the overall returns for premier alternative investors. Since 2011, Upwelling has advised a wide range of sophisticated organizations, from family offices, endowments and foundations to leading private equity firms and global asset managers. Upwelling specializes in addressing complex situations in which the team leverages their experience of having successfully built and managed global private equity portfolios. In addition, the principals have resolved multiple tail-end portfolio transfers and restructurings. For more information on Upwelling, please visit www.upwellingcapital.com.
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