PE Weekly: Taco Bell, YumEarth Deals Place Food and Beverage in M&A Spotlight

Monomoy Completes Jiffy Lube Buy from Shell. Monomoy Capital Partners said it completed its previously announced acquisition of Jiffy Lube from Shell. The transaction values the automotive servicer at about $1.3 billion.

ACON Acquires Confectionary Business YumEarth. ACON Investments, a private equity investment firm, has acquired YumEarth, a recent press release said. The brand manufactures organic and allergy-friendly candy. The transaction marks the first from ACON’s Evolution Fund, the announcement noted.

Harvest Partners Acquires Integra Testing Services. Harvest Partners has acquired Integra Testing Services from Keystone Capital. Integra provides commercial HVAC testing, adjusting and balancing services, along with controlled-environment testing and certification services for mission-critical facilities across a range of end markets.

Thompson Street’s PestCo Acquires Arrow. PestCo, a pest control services business backed by Thompson Street Capital Partners, has acquired Arrow Pest Control, a press release said this week. The acquisition augments PestCo’s pest control offerings to both residential and commercial customers.

Berkshire- and Ares-Backed EP Wealth Advisors Acquires Opes. EP Wealth Advisors, a registered investment advisor backed by Berkshire Partners and Ares Management, has acquired Opes Wealth Management, a Silicon Valley wealth management firm serving technology professionals and clients with significant real estate holdings. The acquisition adds more than $900 million in assets under management and expands EP Wealth’s presence in Northern California.

Commerce Bank Acquires Nolan for Midmarket Investment Banking. Commerce Bank is expanding its middle-market investment banking offerings with the acquisition of Nolan & Associates. The boutique investment banking firm provides buy-side, sell-side, and capital raise advisory services to middle-market businesses, private equity firms, and corporates.

Bessemer-Backed Mas Exits Taco Bell Units to Strategic Buyer. Mas Restaurant Group, a Taco Bell franchisee backed by Bessemer Investors, has sold 43 Taco Bell locations. The buyer, Southpaw, is a Taco Bell and Dunkin’ owner and operator.

Wynnchurch Exits A&D Supplier Premier Forge. Wynnchurch Capital, a middle-market private equity firm, announced this week it completed the sale of aerospace and defense supplier Premier Forge Group. H.I.G. Capital acquired the business.

Nexus Exits ACT Admissions Testing to ETS. ETS, the nonprofit educational testing organization behind the GRE and TOEFL exams, has acquired ACT from its previous sponsor, Nexus Capital Management. ACT provides college admissions testing and workforce readiness assessments.

Capitalworks Exits Minet to Adenia. Private equity firm Capitalworks has exited Minet Group, an insurance brokerage and risk advisory firm that operates across Africa. The company was acquired by Adenia Partners, which targets growth opportunities in Africa, a press release said.

Inflexion Sells A&D Manufacturer Avantus to Arcline. Arcline Investment Management announced this week it has acquired Avantus Aerospace Group, a manufacturer of aerospace and defense parts that will now operate as brands of Arcline portfolio company Novaria Group. Arcline acquired the company from private equity firm Inflexion.