One Equity Partners Closes $1 Billion Continuation Fund

One Equity Partners, a NYC-based middle market private equity firm, closed a $1 billion Continuation Fund.

The fund was co-led by AlpInvest Partners, a subsidiary of global investment firm Carlyle (NASDAQ: CG), and HarbourVest Partners that will support continued growth for two European portfolio companies.

The additional capital will help drive transformational acquisitions and continued growth at aftermarket construction parts manufacturer and distributor USCO SpA and laboratory glassware manufacturer DWK Life Sciences.

USCO, based in Modena, Italy, supplies aftermarket and OEM parts to the earthmoving machinery industry globally, including repair components and ground-engaging and undercarriage parts. Since investing in April 2017, OEP has helped drive completion of six acquisitions providing USCO with a global distribution network, OEM quality engineering capability and a competitive manufacturing presence worldwide. Together with an organic growth push by the company, an earthmoving industry parts supplier was created.

DWK Life Sciences, based in Wertheim, Germany, is a global manufacturer of premium laboratory glassware, storage solutions and other products for the life science and pharmaceutical end markets. Employing a transformational acquisition strategy, OEP first acquired Duran Group in February 2015, a leading brand and global manufacturer of premium borosilicate glass used primarily for laboratory glassware. This was followed by the acquisitions of Wheaton, a laboratory consumables business in September 2015, and laboratory and scientific glassware manufacturer and distributor Kimble Chase in October 2016, to create DWK Life Sciences. The subsequent acquisition of tubular glass packaging material maker Müller + Müller in September 2020 helped expand DWK’s presence in the fast-growing pharmaceutical packaging segment.

One Equity Partners is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build companies by identifying and executing transformative business combinations. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. One Equity Partners has offices in New York, Chicago, Frankfurt and Amsterdam.

FinSMEs

10/05/2023