Key Takeaways
- • Reefline Capital, a sector-focused private equity firm headquartered in West Palm Beach, Florida, has been formed by industry veterans Rick Wandoff, Scott Kirkendall and Eric Hansen to invest in growth industrials and aerospace & defense businesses.
- • The team's approach continues the Industrial Growth strategy they ran at Blue Sea Capital, where Wandoff, Kirkendall and Hansen retain management and portfolio responsibilities for Blue Sea Capital Funds I, II and III.
- • Reefline targets North American Critical Services, Industrial Technology and Aerospace & Defense companies with EBITDA up to $40 million and enterprise value up to $500 million.
- • The firm has more than 20 team members, including Drew Koeneman, Mitch Ulman and veteran investor and operator Jonathan Satter on its leadership team.
- • Current partnerships include MicroCare, Rhino Tool House, Flagger Force, Plasma Processes and Abrasive Technology, and the principals previously exited RESA Power, NSI Industries, Sunvair Aerospace, MW Industries, Integrated Aerospace and Tri-Star Electronics.
Summary
Reefline is a continuation of the Industrial Growth strategy the team employed at Blue Sea Capital. Wandoff, Kirkendall and Hansen maintain management and portfolio responsibilities with Blue Sea Capital Funds I, II and III and serve on the Investment Committee of those funds. Wandoff said the team's relationships and playbook were developed through building successful businesses together.
The firm partners with founders and leadership teams of Critical Services, Industrial Technology and Aerospace & Defense companies based in North America, with EBITDA up to $40 million and enterprise value up to $500 million. Reefline's more than 20 team members include Drew Koeneman and Mitch Ulman, who join veteran investor and operator Jonathan Satter on the leadership team. Its Operating Executives and Executive Advisors bring company-building experience shared with the principals.
The release cites current partnerships in MicroCare (specialty chemicals), Rhino Tool House (end-to-end assembly solutions), Flagger Force (utility services), Plasma Processes (defense technology) and Abrasive Technology (superabrasive products). It also lists prior exits of RESA Power, NSI Industries, Sunvair Aerospace, MW Industries, Integrated Aerospace and Tri-Star Electronics. Mark Silk, ThinKom CEO and former Integrated Aerospace and Tri-Star Electronics CEO, said he had worked with the Reefline principals for nearly three decades, including selling a business, leading multiple businesses and founding one with them.
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