Backcast Partners Provides Senior Secured Debt and Senior Equity to Fund New Platform for Turnspire Capital Partners


NEW YORK, September 14, 2021 / PRNewswire / – Backcast Partners Management, LLC (“Backcast”), a provider of capital to private equity and non-private mid-market companies, is pleased to announce its most recent investment supporting the acquisition by Turnspire Capital Partners (“Turnspire”) of the Daniel Measurement and Control (“Daniel” or the “Company”) business of Emerson Electric Co. (NYSE: EMR).

Based at Houston with a state-of-the-art manufacturing facility strategically located in Chihuahua, Mexico, Daniel is a global leader in providing flow and energy measurement technologies and services to the natural gas and refined hydrocarbon industries. With an 85-year heritage as a leading provider of engineering solutions for flow measurement in trade transfer applications, Daniel is the most trusted brand for energy supply chain customers and customers. hydrocarbons.

Backcast Managing Partner Mark Gudis said, “Daniel is the global leader in the energy test and measurement instrument industry with cutting-edge technology and manufacturing excellence, which we expect to be significantly. increased with the addition of Keith barnard, Seasoned CEO of energy services. We are delighted to once again support Turnspire as they seek attractive organic growth opportunities and a strong pipeline of strategic acquisition opportunities, especially in light of Turnspire’s strong track record of investing in companies. carveouts. ”

Backcast’s investment consisted of senior secured debt and a co-investment in equities. “Backcast has once again been an ideal partner to work with on this transaction,” said Abel S. Osorio, Partner at Turnspire. “This was a complex and iterative transaction and Backcast’s in-depth industry knowledge, ability to understand the complex nature of separating into a stand-alone business and belief in crossing the finish line reinforced the reason they are a value-added partner. “

Backcast was represented in the transaction by Greenberg Traurig LLP.

About Backcast Partners
Formed in 2016, Backcast provides thoughtful and personalized capital solutions across the capital stack to mid-market companies. Backcast’s Managing Partners have supported traditional mid-market companies for decades. Backcast, with assets under management of over $ 775 million, targets investments of $ 10 million to $ 100 million in sponsored and non-sponsored businesses. The company has offices in New York, Millburn, NJ and Los Angeles, CA.

For more information please contact:

Marc Gudis, Management partner
[email protected]
(973) 512-7487
www.backcastpartners.com

SOURCE Backcast Partners

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