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Private Equity
FINANCE | Investment Firms & Funds
ridgemontep.com

Investments

78

Portfolio Exits

39

Funds

6

Partners & Customers

10

Service Providers

3

About Ridgemont Equity Partners

Ridgemont Equity Partners operates a private equity firm that provides buyout and growth capital to closely-held private companies and new business platforms. It focuses on investments in basic industries and services, energy, healthcare, and telecommunications, media, technology. The company was founded in and is based in Charlotte, North Carolina.

Headquarters Location

150 North College Street Suite 2500

Charlotte, North Carolina, 28202,

United States

704-944-0914

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Latest Ridgemont Equity Partners News

Ridgemont Equity Partners Recapitalizes Worldwide Produce

Jan 25, 2023

Ridgemont Equity Partners Recapitalizes Worldwide Produce Ridgemont Equity Partners Recapitalizes Worldwide Produce CHARLOTTE, N.C.- Ridgemont Equity Partners , a middle market private equity investor, today announced the recapitalization of  Worldwide Produce  (the “Company”), a leading distributor of fresh fruits, vegetables, dairy products and specialty foods to restaurants, foodservice customers and grocery stores across the western United States. Worldwide Produce operates five climate-controlled distribution facilities across its geographic footprint. Sole Source Capital , the Company’s existing financial sponsor, will retain a meaningful minority stake in Worldwide Produce in partnership with Ridgemont and Company management. “Ridgemont’s partnership with Worldwide Produce is the culmination of a multi-year firm effort to invest in the B2B food supply chain industry, based on the resilience of the food end market, durable shifts in consumer preferences for ‘better for you’ foods and the increasing consumption of food away from the home,” said John Grenier, Principal at Ridgemont. “Worldwide Produce exemplifies many of the most important characteristics that we have been seeking – the Company has a diversified customer and product mix, operates in a large and fragmented industry and is led by a strong, well-rounded management team that has experience executing organic and M&A growth initiatives.” Tim Dillon, Partner at Ridgemont, added: “We are excited to help implement a growth and value creation strategy that we’ve been successful executing with other specialty distributors. Together with management and Sole Source, we have the opportunity to build a super-regional leader through selective acquisitions across the United States. We are all aligned on how to invest in the team and operations so that the Company can enter new markets and win new business. Worldwide Produce is large enough to benefit from scale with an extensive product and service offering, but locally-focused to deliver a high-touch customer experience on a daily basis.” “We look forward to continuing our track record of adding new independent specialty food distributors to the Worldwide Produce footprint and integrating operations and relationships to strengthen our position in the market with our grower partners and customers,” said Todd Ferguson, CEO of Worldwide Produce. “We have the best salesforce in the business in our regions – they are knowledgeable and passionate and have built trusted relationships with key members of the local food communities. We will continue to focus on recruiting and supporting our salespeople and other employees as we scale our Company.” David Fredston, Founder and CEO of Sole Source Capital, added: “We have developed a great partnership with the Worldwide Produce team over the last three years and are very pleased to continue supporting the platform. There are many more growth opportunities to pursue together, and recapitalizing the business with Ridgemont and management positions Worldwide Produce to continue its trajectory.” Financing for the transaction was provided by Ares Management Credit Funds, NXT Capital, Kayne Anderson Private Credit, Manulife Investment Management, PNC Erieview Capital and Yukon Partners. Harris Williams LLC served as financial advisor to Ridgemont, and Truist Securities served as financial advisor to Worldwide Produce and Sole Source. Alston & Bird served as legal advisor to Ridgemont and Proskauer served as legal advisor to the Company and Sole Source. This investment was made from Ridgemont Equity Partners IV, L.P. Financial terms of the transaction were not disclosed. About Worldwide Produce Worldwide Produce is a leading distributor of fresh fruits, vegetables, dairy products and specialty foods to restaurants, foodservice customers, and grocery stores across the western United States. The Company continues to expand its footprint quickly through organic growth and acquisitions. Worldwide Produce offers an extensive selection of fresh and specialty food products, sourced directly from its best-in-class grower and supplier network to its foodservice-focused customer base. www.wwproduce.com About Ridgemont Equity Partners Ridgemont Equity Partners is a Charlotte-based middle market private equity firm that has provided buyout and growth capital to industry-leading companies in the business and tech-enabled services, industrial growth, and healthcare sectors for nearly three decades. The principals of Ridgemont have refined a proven, industry-focused model designed to build distinctive middle market companies. For more information, please visit  www.ridgemontep.com . About Sole Source Capital Founded in 2016 by David Fredston, Sole Source Capital is a private equity firm that thematically invests in fragmented, high-growth industrial subsectors. Sole Source seeks founder-owned businesses or corporate carve-outs that will benefit from the team’s operating and M&A capabilities. The firm has a strong operating heritage that enables it to execute a buy-and-build strategy with significant downside protection. The firm is headquartered in Dallas, Texas with an additional office in Santa Monica, California.

Ridgemont Equity Partners Investments

78 Investments

Ridgemont Equity Partners has made 78 investments. Their latest investment was in Worldwide Produce as part of their Recap on January 1, 2023.

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Ridgemont Equity Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/24/2023

Recap

Worldwide Produce

Yes

5

1/5/2023

Recap - II

RoadOne

Yes

3

6/2/2022

Private Equity

Crete Mechanical Group

Yes

1

10/13/2021

Private Equity

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10

10/5/2021

Private Equity

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10

Date

1/24/2023

1/5/2023

6/2/2022

10/13/2021

10/5/2021

Round

Recap

Recap - II

Private Equity

Private Equity

Private Equity

Company

Worldwide Produce

RoadOne

Crete Mechanical Group

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Amount

New?

Yes

Yes

Yes

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Co-Investors

Sources

5

3

1

10

10

Ridgemont Equity Partners Portfolio Exits

39 Portfolio Exits

Ridgemont Equity Partners has 39 portfolio exits. Their latest portfolio exit was Backstage on February 01, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

2/1/2022

Acquired

$99M

1

1/11/2022

Acquired

$99M

5

9/7/2021

Acquired

$99M

3

6/2/2021

Acquired

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$99M

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10

1/5/2021

Acquired

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$99M

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10

Date

2/1/2022

1/11/2022

9/7/2021

6/2/2021

1/5/2021

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

5

3

10

10

Ridgemont Equity Partners Acquisitions

34 Acquisitions

Ridgemont Equity Partners acquired 34 companies. Their latest acquisition was American Outcomes Management on February 24, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

2/24/2022

$99M

Acq - Fin

1

10/19/2021

$99M

Acq - Fin

1

8/3/2021

Private Equity

$99M

$7.5M

Acq - Fin

1

10/20/2020

Private Equity

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$99M

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10

6/22/2020

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$99M

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10

Date

2/24/2022

10/19/2021

8/3/2021

10/20/2020

6/22/2020

Investment Stage

Private Equity

Private Equity

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$7.5M

Note

Acq - Fin

Acq - Fin

Acq - Fin

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Sources

1

1

1

10

10

Ridgemont Equity Partners Fund History

6 Fund Histories

Ridgemont Equity Partners has 6 funds, including Ridgemont Equity Partners IV.

Closing Date

Fund

Fund Type

Status

Amount

Sources

10/25/2022

Ridgemont Equity Partners IV

$2,350M

2

12/18/2018

Ridgemont Equity Partners III

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$99M

10

11/9/2017

Ridgemont Equity Partners Energy Opportunity Fund

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$99M

10

11/11/2015

Ridgemont Equity Partners II

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$99M

10

3/31/2013

Ridgemont Equity Partners I LP

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$99M

10

Closing Date

10/25/2022

12/18/2018

11/9/2017

11/11/2015

3/31/2013

Fund

Ridgemont Equity Partners IV

Ridgemont Equity Partners III

Ridgemont Equity Partners Energy Opportunity Fund

Ridgemont Equity Partners II

Ridgemont Equity Partners I LP

Fund Type

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Status

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Amount

$2,350M

$99M

$99M

$99M

$99M

Sources

2

10

10

10

10

Ridgemont Equity Partners Partners & Customers

10 Partners and customers

Ridgemont Equity Partners has 10 strategic partners and customers. Ridgemont Equity Partners recently partnered with Crete Mechanical Group on June 6, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

6/2/2022

Partner

United States

Ridgemont Equity Partners Provides Growth Capital to Crete Mechanical Group

`` This growth capital investment and strategic partnership with Ridgemont Equity Partners marks an important milestone for Crete Mechanical Group , '' said Jake Sloane and Frank Zhang , Co-Founders and Co-CEOs of Crete Mechanical Group , in a joint statement on behalf of CMG .

2

6/2/2022

Partner

United States

Ridgemont Equity Partners Provides Growth Capital to Crete Mechanical Group.

`` This growth capital investment and strategic partnership with Ridgemont Equity Partners marks an important milestone for Crete , '' said Jake Sloane and Frank Zhang , Co-Founders and Co-CEOs of Crete Mechanical Group , in a joint statement on behalf of CMG .

1

6/1/2020

Partner

United States

Ridgemont Equity Partners, HealthMark Group, and OTech Group Form HCIT Partnership

Charlotte , NC -LRB- February 4 , 2020 -RRB- -- Ridgemont Equity Partners , a middle market private equity investor , today announced its partnership with HealthMark , a technology-enabled provider of release of information and other health information management services , and OTech Group , a provider of patient intake management software and systems .

1

6/1/2020

Partner

United States

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10

2/4/2020

Partner

United States

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10

Date

6/2/2022

6/2/2022

6/1/2020

6/1/2020

2/4/2020

Type

Partner

Partner

Partner

Partner

Partner

Business Partner

Country

United States

United States

United States

United States

United States

News Snippet

Ridgemont Equity Partners Provides Growth Capital to Crete Mechanical Group

`` This growth capital investment and strategic partnership with Ridgemont Equity Partners marks an important milestone for Crete Mechanical Group , '' said Jake Sloane and Frank Zhang , Co-Founders and Co-CEOs of Crete Mechanical Group , in a joint statement on behalf of CMG .

Ridgemont Equity Partners Provides Growth Capital to Crete Mechanical Group.

`` This growth capital investment and strategic partnership with Ridgemont Equity Partners marks an important milestone for Crete , '' said Jake Sloane and Frank Zhang , Co-Founders and Co-CEOs of Crete Mechanical Group , in a joint statement on behalf of CMG .

Ridgemont Equity Partners, HealthMark Group, and OTech Group Form HCIT Partnership

Charlotte , NC -LRB- February 4 , 2020 -RRB- -- Ridgemont Equity Partners , a middle market private equity investor , today announced its partnership with HealthMark , a technology-enabled provider of release of information and other health information management services , and OTech Group , a provider of patient intake management software and systems .

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Sources

2

1

1

10

10

Ridgemont Equity Partners Service Providers

9 Service Providers

Ridgemont Equity Partners has 9 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Private Equity

Investment Bank

Financial Advisor

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Service Provider

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Associated Rounds

Private Equity

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Provider Type

Investment Bank

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Service Type

Financial Advisor

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Partnership data by VentureSource

Ridgemont Equity Partners Team

1 Team Member

Ridgemont Equity Partners has 1 team member, including current Chief Operating Officer, Edward A. Balogh.

Name

Work History

Title

Status

Edward A. Balogh

Chief Operating Officer

Current

Name

Edward A. Balogh

Work History

Title

Chief Operating Officer

Status

Current

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