M&A Report: Louisiana-based private equity groups make strategic moves in June

Taylor Gilbert And Liam Norton // July 9, 2024

Louisiana’s mergers and acquisitions landscape remained vibrant in June 2024, with three prominent Louisiana-based private equity firms engaging in strategic investments across a variety of sectors.

Bernhard Capital Partners (“BCP”), a private equity firm focused on services and infrastructure, recently established an institutional program management (IPM) platform through a controlling investment in Brailsford & Dunlavey Inc. (“B&D”). B&D is a leading development advisory and program management firm, serving a diverse clientele that includes educational institutions, municipal agencies, sports venues, and non-profits. The firm’s offerings encompass project planning, development, construction oversight, and operational efficiency improvement.

Mark Spender, a partner at BCP, expressed enthusiasm about the partnership, which marks the firm’s latest platform investment.

“As the cornerstone of our institutional program management platform, we look forward to working alongside B&D’s experienced and dynamic leadership team and leveraging our proprietary Blueprint framework to accelerate growth through acquisitions, as well as expanded capabilities,” Spender said. “We’re confident that B&D’s talented team and existing customer relationships across its business segments will serve as a strong foundation for the success of our IPM platform.”

Over the past two years, BCP has completed several transactions with the most recent being the May acquisition of Apogee Engineering, a governmental technology solutions provider, which bolsters its governmental services investment platform. Financial terms of the deal were not disclosed.

LongueVue Capital (“LVC”) recently announced that its portfolio company, Pinnacle Clinical Research (Pinnacle), has successfully invested in five healthcare organizations: Kerwin Medical Center (KMC), The Cognitive and Research Center of New Jersey (CRCNJ), Bellaire Clinical Research, Palmetto Clinical Research – Low Country, and the Dallas Research Institute.

Pinnacle, which provides health care research services, conducts clinical trials focused on hepatology and gastroenterology, with a particular emphasis on fatty liver disease. Founded in 2016 and acquired by LVC in November 2022, Pinnacle has grown rapidly. These strategic acquisitions expand Pinnacle’s geographic footprint, bringing its total to 12 sites across Texas, New Jersey, and South Carolina. Notably, the KMC and CRCNJ investments enhance Pinnacle’s expertise in central nervous system indications, particularly Alzheimer’s Disease. This expansion aims to improve patient care, enrollment timelines, and access for underrepresented populations.

“Pinnacle’s rapid expansion to twelve best-in-class sites from only three sites in 2022, coupled with its renowned physician-led executive team, further solidifies the Company as the leading site network focused on multiple complex therapeutic areas,” said Ryan Nagim, managing partner and head of health care at LVC. He added, “We remain committed to supporting Pinnacle’s continued growth both organically and through acquisitions.”

Terms of the acquisitions were not disclosed.

Carr’s Hill Capital Partners Management LP (“Carr’s Hill”) continued its streak of investments in the industrial services sector by acquiring SMART Safety Gulf Coast (“SMART Safety”) from the Baton Rouge-based industrial construction firm PALA Group for an undisclosed price. SMART Safety, a leading provider of turnkey life safety and compliance management services based in Georgia, offers safety program management, including safety policy development, job site safety audits, claims management, and OSHA reporting & representation.

Blake Beach, CEO of SMART Safety, expressed excitement about the partnership.

“The SMART Safety team is grateful for the support from PALA over the past decade and is excited for this new chapter…The [Carr’s Hill] team’s resources and strategic vision will undoubtedly help us expand our reach and enhance our service offerings,” Beach said.

David de Laureal, Managing Partner at Carr’s Hill, echoed this sentiment.

“SMART Safety’s exceptional reputation and commitment to enhancing workplace safety align well with our investment philosophy,” he said. “We look forward to supporting the team’s growth and delivery of exceptional safety solutions to their clients.”

SMART Safety joins Carr’s Hill’s portfolio of industrially-focused companies which includes Matthews Brothers Dredging, Axis Industries, and Arrow Waste.

Taylor Gilbert is vice president of mergers and acquisitions for Chaffe & Associates Inc. Liam Norton is a corporate finance analyst with the firm. Investment banking services are provided by Chaffe Securities Inc., member FINRA/SIPC. For more information, visit http://chaffe-associates.com.