Silver Hill Energy Partners closes latest fund with $1.13 billion

Silver Hill Energy Partners has closed its fourth partnership and second institutional private equity fund, Silver Hill Energy Partners IV. The oversubscribed fund raised total capital commitments of $1.13 billion from a diverse group of institutional investors, including foundations, pension funds and family offices, many of whom are repeat investors.

“The strong demand and oversubscription we saw for Silver Hill IV reflects the continued institutional appetite for attractive risk-adjusted returns in the energy sector,” said Silver Hill Founder and CEO Kyle D. Miller. “We are proud of the high-quality portfolio we have strategically built and grown over the past several years, and we are extremely grateful to our partners and the collective spirit they have demonstrated in supporting our latest fund.”

This new fund continues the firm’s focus on directly owning, developing and managing onshore oil, natural gas and related infrastructure assets in key U.S. basins. Since inception in 2011, Silver Hill has raised $2.875 billion in cumulative capital commitments.

Infrastructure solutions company Arcosa acquires Stavola construction materials business for $1.2 billion

Arcosa, a provider of infrastructure products and solutions for the construction, engineering and transportation markets, has acquired construction materials company Stavola Holdings Corp. for $1.2 billion in cash.

“Since becoming an independent public company in 2018, Arcosa has successfully executed on its long-term vision of growing in attractive markets and reducing the complexity and cyclicality of the overall business through strategic acquisitions and select divestitures,” said Antonio Carrillo, Arcosa’s Chairman and CEO. “During that time, we have expanded our Construction Products business both organically and inorganically, committing approximately $1.5 billion in value-adding acquisitions to date and increasing our aggregates presence in the top 50 MSAs.”

Stavola was founded in 1948 and is a materials company based in the New York-New Jersey area. As of the end of June, the company had generated $283 million in revenue and $100 million in adjusted EBITDA. The transaction structure is expected to provide tax benefits to Acrosa with a net present value of approximately $125 million.

StoneTree Investment Partners closes fund at $155 million

StoneTree Investment Partners, a private equity firm focused on lower middle market buyouts in the industrial and manufacturing sectors in the U.S. and Canada, closed its StoneTree Investment Partners Fund I at a firm $155 million cap. The fund reached its target in just over two months, attracting institutional investors including family offices, foundations and pension funds.

“We are excited to be working with an extraordinary group of blue-chip institutional investors, including many long-standing relationships,” said StoneTree Partner Joel Stanwood. “We are grateful for the opportunity to support the individual missions of these world-class institutions while we further StoneTree’s own mission and purpose: ‘Transforming the Industry. Investing in People.’”

The Fund will primarily seek to acquire controlling interests in downstream industrial businesses with a focus on manufacturing, leveraging StoneTree’s operational expertise to drive growth and create opportunities for employees. Pacenote Capital acted as exclusive agent for the Fund, facilitating a streamlined fundraising process, while McGuireWoods provided legal counsel.

Texoma Semiconductor Tech Hub Receives $500,000 Consortium Accelerator Award

Texoma Semiconductor Tech Hub has received a $500,000 Consortium Accelerator Award from the U.S. Department of Commerce’s Economic Development Administration to boost semiconductor manufacturing in North Texas and Southern Oklahoma. This is the second federal award for TSTH, following a $400,000 Strategy Development Grant received in October 2023.

“We are pleased to receive this award from EDA, which supports the work of the Texoma Semiconductor Tech Hub,” said Suku Nair, vice provost for research and chief information officer at SMU. “As we continue to expand our consortium with new members, this support from EDA shows that we are moving in the right direction.”

The initiative focuses on deploying FabletsTM labs in higher education and mobile labs for a variety of semiconductor processes. The Tech Hubs program, part of the Biden-Harris Administration’s Investing in America program, aims to expand manufacturing of critical technologies and was established by the bipartisan CHIPS and Science Act.

“The Biden-Harris Administration is working to build world-class ecosystems across the country that will advance America’s global leadership in tomorrow’s technologies, accelerate the creation of good jobs, and strengthen our national and economic security,” said Alejandra Y. Castillo, Assistant Secretary of Commerce for Economic Development. “These Consortium Accelerator Awards demonstrate the level of excellence that each nominee embodies and will allow Tech Hubs to not only maintain their momentum but also leverage their coveted distinction to attract additional collaboration and capital.”