WELL/Aurora/Peace-Paw-Park Place

KeyBank Community Development Lending & Investment provided $66 million in capital for the new construction of Vita Lifestyle of Lafayette, a 198-unit senior affordable housing project in Lafayette, Indiana. This project will serve senior citizens earning no more than 40%–60% of Area Median Income (AMI). The property will feature amenities for residents that include a community room, pet wash, sports courts, and community patio. We want to thank Vita Investment Holdings LLC for their sponsorship and shared mission to build much-needed affordable housing in Indiana.

The financing includes $37.2 million in construction loans, a $28.8 million permanent loan arranged by Key Commercial Mortgage Group, and bond underwriting arranged by KeyBank Capital Markets.

KeyBank Community Development Lending and Investment (CDLI) provided a $25.9 million loan to finance the new construction of 1434 W. Compton Blvd LP, a 75-unit affordable housing project located in Compton, California. The Coalition for Responsible Community Development (CRCD) has partnered with LandSpire Group, LLC, to develop the project. This is the inaugural development project between the sponsor, CRCD, and LandSpire Group, LLC, a partnership that aims to produce 1,000+ permanent supportive and affordable housing units across the Greater Los Angeles area over the next decade.

The project will be a three-story development consisting of studio, one-bedroom and two-bedroom units, all of which are restricted at or below 50% of the area median income (AMI). Fifty percent of the units are set aside as permanent supportive housing, and the remaining 50% as general affordable housing. Additional LIHTC equity and Freddie Mac TEL permanent financing were secured from Walker & Dunlop.

Founded in 2005, the Coalition for Responsible Community Development (CRCD) is a 501(c) 3 organization dedicated to improving the quality of life in South Los Angeles. CRCD supports low-income residents and small businesses with jobs, education, training, affordable housing, and comprehensive support. Since its inception, CRCD has facilitated $160 million in investments, creating 464 housing units and additional development worth $665 million.

Founded in 2019, LandSpire Group is a Southern California-based real estate private equity firm specializing in investing in ground-up developments in select U.S. markets that are experiencing housing affordability challenges and supply imbalances. LandSpire's housing portfolio currently consists of 500 units of market rate and workforce housing, with an additional 400 units of affordable and workforce housing scheduled for delivery by the end of 2025.

1434 W. Compton Blvd LP, which is expected to be completed by May 2027, will have onsite amenities including laundry facilities, a community room, a tot lot, a landscaped courtyard, an amphitheater-style seating area, a basketball/multi-court play area, onsite parking and a resident manager. Social services will also be provided on-site by CRCD and other community partners.

Matthew Haas and Cathy Danigelis of KeyBank CDLI structured the financing.

On September 26, 2025, KeyBanc Capital Markets Inc. (KBCM) successfully closed a new financing transaction for Ho-Chunk Nation of Wisconsin (HCN). The $610 million Senior Secured Credit Facilities (the Credit Facilities) consist of a $305 million Revolving Credit Facility and a $305 million Delayed Draw Term Loan. In combination with ~$95 million of equity, proceeds of the Credit Facilities will be used to finance the construction of the Nation’s new flagship casino resort in Beloit, Wisconsin, and pay fees and expenses. KBCM acted as Left Lead Arranger, Joint Bookrunner and Administrative Agent on the transaction.

HCN is a new Left Lead Agency for KBCM. KBCM was selected to arrange the financing due to our unmatched experience and expertise in the Native American Financial Services industry, robust Debt Capital Markets platform, and historical track record of success leading and syndicating transactions in the gaming space.

About Ho-Chunk Nation of Wisconsin
Ho-Chunk Nation is a federally recognized sovereign Tribal nation with ~7,766 enrolled members. Headquartered in Black River Falls, Wisconsin, the Nation’s trust lands are mainly non-contiguous and scattered across 14 counties throughout Wisconsin and surrounding states. The Ho-Chunk Nation Legislature skillfully negotiated and authorized the credit facility. The Nation’s Department of Business is responsible for the management and administration of its business enterprises, including Ho-Chunk Gaming Wisconsin.

About Ho-Chunk Gaming Wisconsin
The Nation currently owns and operates six gaming facilities under the Ho-Chunk Gaming Wisconsin brand, with locations in Black River Falls, Wisconsin Dells, Madison, Wittenberg, Tomah, and Nekoosa. Ho-Chunk Gaming Wisconsin is developing a new ~$705 million destination-style casino resort in Beloit, Wisconsin. The property will feature over 1,500 slot machines and 40 table games, a 312-room hotel with a rooftop lounge, numerous food and beverage outlets, a 2,000-seat convention center, and a parking garage. Construction started in October 2024 with the Casino opening in September 2026. The Hotel and Convention Center is expected to be completed in September 2027.

On September 18, 2025, KeyBanc Capital Markets served as Joint Bookrunner on Pattern Group Inc.’s (Pattern or the Company) $300 million Initial Public Offering of 21,428,572 shares, excluding overallotment.

Pattern accelerates brands on global e-commerce marketplaces leveraging proprietary technology and AI. Utilizing more than 46 trillion data points, sophisticated machine learning and AI models, Pattern optimizes and automates all levers of e-commerce growth for global brands, including advertising, content management, logistics and fulfillment, pricing, forecasting and customer service. Hundreds of global brands depend on the Company’s e-commerce acceleration platform every day to drive profitable revenue growth across 60+ global marketplaces — including Amazon, Walmart.com, Target.com, eBay, Tmall, TikTok Shop, JD, and Mercado Libre.

On September 17, 2025, KeyBanc Capital Markets served as Joint Bookrunner on Netskope, Inc.’s (Netskope or the Company) $1.04 billion Initial Public Offering of 54,970,000 shares, including overallotment.

Netskope, a leader in modern security and networking for the cloud and AI era, addresses the needs of both security and networking teams by providing optimized access and real-time, context-based security for people, devices, and data anywhere they go. Netskope delivers its offerings through a Software-as-a-Service business model, selling subscriptions that provide customers access to its platform along with related support services. The Company is a developer of a cloud security platform designed to provide visibility and real-time data and threat protection while accessing websites and private applications.

In September 2025, KeyBanc Capital Markets (KBCM) acted as Joint Bookrunner on Amkor Technology, Inc.’s (Amkor or the Company) offering of $500 million Senior Notes due 2033 (the Notes). Proceeds from the Notes will be used to repay the existing 6.625% Senior Notes due 2027, for general corporate purposes, and to pay related fees and expenses. 

KBCM was selected to serve as Joint Bookrunner on the offering as a result of our deep industry knowledge and High Yield Capital Markets expertise.

Amkor is the world’s largest U.S.-headquartered OSAT service provider and is a global leader in outsourced semiconductor packaging and test services. Since its founding in 1968, Amkor has pioneered the outsourcing of integrated circuit packaging and test services and is a strategic manufacturing partner for the world’s leading semiconductor companies, foundries, and electronics OEMs. Amkor provides turnkey manufacturing services for the communication, computing, automotive and industrial and consumer markets, including smartphones, data centers, artificial intelligence, electric vehicles and wearables.

In September 2025, we served as Active Joint Bookrunner on Interstate Power & Light’s (IPL) issuance of $300 million Senior Debentures due October 1, 2055, with a 5.6% coupon. IPL, a wholly owned subsidiary of Alliant Energy Corporation, is a public utility serving Iowa with electricity and natural gas. It provides electric service to about 500,000 customers and 230,000 natural gas customers.

IPL intends to use the net proceeds to reduce outstanding capital under their receivables purchase and sale program, to reduce outstanding commercial paper, and/or for general corporate purposes. KeyBanc Capital Markets served as Active Joint Bookrunner.

On September 10, 2025, KeyBanc Capital Markets (KBCM) successfully priced $225 million of Convertible Senior Notes due 2031 for Astronics Corporation (Astronics or the Company). Proceeds will be used to fund the repurchase of a portion of the existing 5.500% Convertible Senior Notes due 2030 and to fund a Capped Call in connection with the offering. KBCM acted as Joint Bookrunner on the transaction. 

Astronics Corporation (NASDAQ: ATRO) serves the world’s aerospace, defense, and other mission critical industries with proven, innovative technology solutions. The Company works side-by-side with customers, integrating their array of power, connectivity, lighting, structures, interiors, and test technologies to solve complex challenges. For over 50 years, Astronics has delivered creative, customer-focused solutions with exceptional responsiveness. Today, global airframe manufacturers, airlines, militaries, completion centers, and Fortune 500 companies rely on the collaborative spirit and innovation of Astronics.

KeyBank Community Development Lending & Investment provided $22.4 million in capital for the new construction of Timber Ridge, a 52-unit senior affordable housing project in Davenport, Iowa. All 52 units will serve senior citizens earning no more than 40%-60% of Area Median Income (AMI). The property will feature amenities for residents that will include a clubhouse, fitness center, business center, playground, and a picnic area. We want to thank Woda Cooper Companies Inc for their sponsorship and shared mission to build much-needed affordable housing in Iowa.

The financing includes a $11.2 million construction loan and $11.2 million in LIHTC equity.

KeyBank Community Development Lending & Investment provided capital for new construction of Beeler Park Flats, a 64-unit affordable housing project in Denver, Colorado. All 64 units will serve families and individuals earning no more than 30%-60% Area Median Income (AMI). Supportive services will be offered to residents through the Foundation for Sustainable Urban Communities (FSUC), who will utilize the community space to provide services that aim to promote healthy living, lifelong learning, and sustainable transportation. We want to thank Mile High Development and BMC Investments for their sponsorship and shared mission to build much-needed affordable housing in Colorado.

The financing includes a construction loan, LIHTC equity, and a Freddie Mac forward commitment for permanent financing.

Cain Brothers, a division of KeyBanc Capital Markets, served as exclusive financial advisor to HonorHealth in its proposed acquisition of Evernorth Care Group from The Cigna Group.

Cain Brothers advised HonorHealth throughout a competitive process, providing strategic guidance, diligence support, and transaction execution. The transaction expands HonorHealth’s footprint in the Phoenix area and underscores its commitment to delivering coordinated, high-quality care.

HonorHealth is a leading health system with a 100+ year legacy of providing care to the more than 5 million people across the greater Phoenix area. The system operates nine acute care hospitals and a broad network of primary, specialty, and urgent care locations. HonorHealth focuses on expanding access and enhancing care delivery through strategic partnerships and innovation.

Evernorth Care Group provides care to patients in 18 locations across the Phoenix area, serving nearly 200,000 patients. The organization has a 50-year history of providing integrated, high-quality, affordable care and is recognized for its team-based, patient-centered model.  

The Cigna Group (NYSE: CI) is a global health company serving individuals and communities worldwide through its divisions, including Cigna Healthcare and Evernorth Health Services.

On August 29, 2025, KeyBanc Capital Markets (KBCM) successfully advised United Titanium, Inc. (United Titanium or the Company), on its sale to Riverspan Partners (Riverspan). KBCM was chosen to serve as United Titanium’s Exclusive Sell-Side Advisor based on its industry-leading industrial investment banking franchise, longstanding relationship with the Company and proven M&A execution capabilities.

Founded in 1962 and headquartered in Wooster, Ohio, United Titanium is a leading manufacturer of engineered mission-critical fasteners, fittings and precision components. The Company specializes in hard-to-manufacture alloys including titanium, zirconium, cobalt, nickel, tantalum, nitronic and other specialty alloys. United Titanium serves customers across the defense, electronics, medical, petrochemical, commercial and industrial distribution end markets.

Riverspan is a middle-market private equity firm headquartered in Chicago, Illinois. Founded in 2022, the firm seeks to invest in companies within the chemicals and materials, engineered components, industrial services and manufacturing sectors. The firm is currently investing out of its first institutional fund.

On August 27, 2025, KeyBanc Capital Markets Inc. successfully closed on an $800 million senior secured facility (the Facility) supporting Madison Energy Infrastructure. The construction-to-term Facility will support the expansion and deployment of clean energy infrastructure to customers and partners across the U.S. The Facility positions Madison to meet rapidly growing customer demand as the company advances toward 1 GW of operating capacity. 

About Madison Energy Infrastructure
Madison Energy Infrastructure is building a leading clean energy ecosystem to deliver operational value, certainty, and sustainability to businesses, organizations, and communities. Our robust portfolio is bolstered by the strength of EQT and our globally renowned capital partners. With a proven track record of successfully executing hundreds of projects, we are unwaveringly focused on exceeding expectations and achieving meaningful results for our partners and customers.

On August 26, 2025, KeyBanc Capital Markets (KBCM) successfully advised G2 Secure Staff, LLC (G2 Secure Staff, or the Company), a portfolio company of Tenex Capital Management, L.P. (Tenex), on its sale to Menzies Aviation Ltd. (Menzies Aviation). KBCM was chosen to serve as G2 Secure Staff’s Sell-Side Advisor based on its industry-leading Industrial & Business Services practice, longstanding relationship with Tenex and the Company and proven M&A execution capabilities. 

G2 Secure Staff is a provider of outsourced aviation services to the US airline industry, supporting airlines across terminals, cabins, ramps, cargo, and security functions. The Company operates across ~90 airports nationwide in key primary and secondary hubs for all of the major US carriers and employs ~12,000 people.

Tenex Capital Management is a private equity firm that invests in middle market companies. Tenex uses an in-house team of hybrid investment professionals skilled in operational leadership, investing, and capital markets structuring to maximize long-term value creation. Tenex’s deep operating experience allows the firm to collaborate with management teams to capitalize on business and market opportunities.

Menzies Aviation is the leading service partner to the world's airports and airlines, with operations on six continents, at more than 300 airports in 65-plus countries, serving more than 4.8 million flights a year and handling over 2.4 million tons of cargo. Supported by a team of over 50,000 highly trained people, Menzies Aviation provides complex and time-critical ground services, including passenger, lounge and ramp services; air cargo services, including handling, warehousing and wholesale freight forwarding; and fuel services, including fuel farm management and into-plane fueling.

On August 19, 2025, KeyBanc Capital Markets acted as Sole Manager on the successful closing of $32 million National Finance Authority Lease Revenue Bonds, Tax-Exempt Series 2025A and Taxable Series 2025B (the Series 2025 Bonds) for the NCCD-UNR Fieldhouse Properties LLC (the Borrower).

The Series 2025 Bonds were issued to primarily finance the cost of the development, design, construction and equipping of a new fieldhouse and turf fields (the Project) on the campus of the University of Nevada, Reno (UNR). The Nevada System of Higher Education (NSHE), on behalf of UNR, will enter a 35-year Ground Lease and corresponding 30-year Sublease with the Borrower for the purposes of executing the Project.

NSHE currently includes the three universities (one of which is UNR), a research institute, four community colleges and Nevada State University. UNR serves over 20,000 students and offers 123 major fields of study leading to baccalaureate and 131 major fields of study leading to advanced degrees through academic departments in these colleges and schools.

In April 2024, Southwest Gas (NYSE: SWX) IPO’d its utility infrastructure services business, Centuri (NYSE: CTRI), raising $299,460,000. The initial public offering featured primary shares with a use of proceeds for debt repayment, working capital, and general corporate purposes.

In May, June, and August 2025, Centuri priced three follow-on offerings featuring 100% secondary shares. The three transactions represented $750,159,375 in aggregate proceeds and allowed Southwest Gas to partially monetize its position in Centuri to further repay debt at Southwest Gas Holdings and other general corporate purposes. Of note, KeyBanc Capital Markets served as a bookrunner on the June 2025 and August 2025 follow-on offerings.

Cain Brothers, a division of KeyBanc Capital Markets, served as exclusive financial advisor to Streamline Health Solutions (Nasdaq: STRM) on its sale to MDaudit.

Cain Brothers was retained by Streamline Health as its exclusive financial advisor and to deliver a fairness opinion to its Board of Directors based on its extensive knowledge of the HealthTech and revenue cycle management sector. Cain Brothers worked with the Streamline Board of Directors to design and execute a broad auction process to identify the optimal buyer.

Streamline Health enables healthcare organizations to proactively address revenue leakage and improve financial performance. Streamline delivers integrated solutions, technology-enabled services and analytics that drive compliant revenue leading to improved financial performance across the enterprise. Streamline supports several leading health systems, including Memorial Hermann, Baylor Scott & White, MedStar Health and Honor Health.

MDaudit, a portfolio company of Bregal Sagemount and Primus Capital, is a leading healthcare technology provider that partners with the nation’s premier healthcare systems to reduce compliance risk, improve efficiency, retain revenue, and enhance communication between cross-functional teams.

On August 12, 2025, KeyBank successfully closed a $6.1 million equipment term loan for Target Ag Production, LLC. Proceeds from the facility were used to help the business install a new six-lane onion line. This was nearly a yearlong project that Key financed via progress payment installments. Key acted as the Sole Lender on the transaction.

Target Ag Production, LLC, is a dry onion storage, processing, and shipping operation. Target has been supplying its clients with fresh, high-quality onions since 2000.

On August 8, 2025, KeyBanc Capital Markets, Inc. (KBCM) successfully closed the syndication of $295 million Senior Secured Credit Facilities (the Credit Facilities) for the Mississippi Band of Choctaw Indians (d/b/a Choctaw Resort Development Enterprise) (MBCI, or the Tribe). The Credit Facilities consist of a $100 million Revolving Credit Facility, $85 million Term Loan A, and $110 million Delayed Draw Term Loan. The proceeds will be used to refinance existing indebtedness, fund working capital and gaming-related capital expenditures, finance the construction of the new Choctaw Central Middle School and High School Campus, and pay transaction-related fees and expenses.

This transaction represents KBCM’s second left lead syndicated transaction with the Tribe. MBCI selected KBCM based on our longstanding relationship with the Tribe, along with our extensive knowledge and expertise within the Native American Financial Services industry, and successful track record of syndication transactions in the gaming space.

Choctaw Central Middle School and High School Campus
Scheduled to open in Summer 2026, the new Choctaw Central Middle School and High School Campus will feature a two-story academic building to accommodate up to 1,200 students. The campus will include offices for middle school and high school staff, principals’ offices, counselors’ offices, a band hall, cafeteria, dormitory, library, ADA bathrooms, elevators, a two-level arena, and a 2,000-seat turf football field.

Tribe Overview
The Tribe is a sovereign nation and the only federally recognized Tribe in Mississippi, with over 11,000 enrolled members. Tribal lands encompass 35,000 acres across 14 counties, and contain a diversified portfolio of manufacturing, service, retail, gaming, hospitality, and construction enterprises. The Tribe established CRDE in October 1999 for the purpose of managing existing and future gaming and resort operations. The CRDE gaming and hospitality portfolio includes Golden Moon Hotel & Casino, Silver Star Hotel & Casino, Bok Homa Casino, Crystal Sky Travel Plaza, Dancing Rabbit Golf Club, Dancing Rabbit Inn, and Geyser Falls Water Theme Park.

On August 7, 2025, KeyBanc Capital Markets (KBCM) successfully closed the syndication of a $550 million Term Loan B (TLB) for MillerKnoll, Inc. (MillerKnoll or the Company). This transaction follows the Company’s pro rata transaction in April 2025, which included a $400 million Term Loan A and a $725 million Revolving Credit Facility. In aggregate, the Company’s refinancing resulted in $1.675 billion of Senior Secured Credit Facilities (the Credit Facilities). Proceeds from the Credit Facilities were used to refinance existing indebtedness, enhance liquidity, and pay transaction related expenses. KBCM acted as a Joint Lead Arranger and Joint Bookrunner.

KBCM was chosen as Joint Lead Arranger and Joint Bookrunner due to our long-standing relationship with the Company, strong presence in the Retail sector, and robust debt capital markets platform.

Formed in 2021 through the merger between Herman Miller and Knoll, MillerKnoll (NASDAQ: MLKN) is a global leader of design with 15 dynamic brands and a significant global reach, operating in 110 countries through 75+ retail stores and 1,000+ dealers. The Company designs, manufactures, and distributes interior furnishings for use in various environments including residential, office, healthcare, and educational settings.

Key Community Development Lending & Investment provided $19.5 million in financing for the new construction of Hawthorne Heights, an 86-unit affordable senior housing building in Gainesville, Florida. This project will serve senior citizens earning no more than 22-70% of Area Median Income. Supportive services will be offered to residents and will include assistance with light housekeeping, grocery shopping, and laundry as well as daily activities, including book club, gardening club, and game night. We want to thank National CORE Community Renaissance for their commitment to building much-needed affordable housing in Florida.

The financing includes a construction loan and a permanent loan.

Key Community Development Lending & Investment provided $117 million in financing for the new construction of Covington Acres, a 252-unit affordable housing building in Keene, Texas. This project will serve families and individuals earning no more than 60% of Area Median Income. Supportive services will be offered to residents and will include access to a food pantry, an annual health fair, and other events and classes, including arts and crafts. We want to thank Kittle Property Group for their commitment to building much-needed affordable housing in Texas.

The financing includes a construction loan, LIHTC Equity, a permanent loan, and bond underwriting.

Key Community Development Lending & Investment provided $28 million in financing for the new construction of New Hope, a 92-unit affordable housing building in Seattle, Washington. This project will serve families and individuals earning no more than 50-60% of Area Median Income. The property will feature amenities for residents including a community room, bicycle room, and a rooftop deck. We want to thank the Low Income Housing Institute for their commitment to creating much-needed affordable housing in Washington.

The financing includes a construction loan.

Key Community Development Lending & Investment provided $86.3 million in financing for the new construction of Domes Church, a 152-unit affordable housing building in Caldwell, Idaho. This project will serve families and individuals earning no more than 60% of Area Median Income. The property will feature amenities for residents including a picnic area, exercise facility, courtyard, basketball court, and a community room. We want to thank Devco for their commitment to creating much-needed affordable housing in Idaho.

The financing includes a construction loan, LIHTC equity, a permanent loan, and a public bond sale.

Cain Brothers, a division of KeyBanc Capital Markets, and KeyBanc Capital Markets, Inc. acted as Joint Lead Arranger and Joint Bookrunner.

On July 31, 2025, KeyBank Beach Point Direct Lending Program and KeyBanc Capital Markets successfully closed $565 million of Senior Secured Credit Facilities in support of Audax Private Equity and Parthenon Capital Partners’ acquisition of Elevate Patient Financial from Frazier Healthcare Partners and The Edgewater Funds.

Elevate is a leading provider of revenue cycle management solutions to hospitals and health systems across the United States. Formerly known as MedData, the Company provides innovative, specialized technology to address the most complex challenges of the revenue cycle. Offerings include eligibility & enrollment, self-pay, complex claims, and accounts receivable services. With clients and offices coast-to-coast and state-specific experience in all 50 states, Elevate is a trusted RCM partner to nearly 1,700 client facilities with over 11.5 million patient accounts each year.

Audax is a Boston-based private equity firm focused on investing in U.S. middle market companies across the business services, consumer, financial services, healthcare, industrials, and software sectors. Founded in 1999, Audax has grown to ~$19 billion in assets under management, successfully completing over 175 platform investments and 1,400+ add-on acquisitions.

Founded in 1998, Parthenon is a private equity firm specializing in the business, financial, and healthcare services segments. Since inception, Parthenon has partnered with world-class management teams to complete over 50 platform acquisitions, with 200+ additional tuck-ins, representing over $5 billion in value across core sectors.

On June 26, 2025, KeyBanc Capital Markets (KBCM), as Sole Manager, and the City of Huber Heights, Ohio (the City), successfully closed a $56.2 million Various Purpose Notes, Series 2025 (General Obligation – Limited Tax) (the Notes) transaction. Proceeds received from the sale of the Notes will be used to 1) retire, with Note proceeds and cash in hand, Notes issued for the purpose of paying the costs of improving (a) the public works department, (b) city council facilities, (c) fire station facilities, (d) the Meadows infrastructure project, (e) public improvements; and (2) providing funds for City Hall renovations and the design of an indoor music center for community use.

Located just minutes from Wright-Patterson Air Force Base and Dayton’s commercial center, Huber Heights is home to over 800 businesses, from high-tech manufacturers to distributors. The residents of Huber Heights are spread comfortably over 25 square miles. Just over 38,000 residents of diverse backgrounds earn an average income of more than $69,000. The City is a community that provides an outstanding business environment that supports a high quality of life and an affordable cost of living coupled with abundant recreational and cultural amenities. A host of nationally acclaimed institutions of higher learning are within minutes of the City, including the Air Force Institute of Technology, several acclaimed universities (Cedarville, the University of Dayton Wilberforce, Wittenberg, and Wright State, among others). Together these institutions offer everything from advanced degrees to executive leadership training and lend to robust community amenities.

On July 25, 2025, KeyBank successfully closed a Term Loan and Revolving Line of Credit for The Memory Company, LLC (“TMC”). TMC was acquired by Fruition Partners. Proceeds from the facilities were used to fund the acquisition, cover transaction costs, and support future working capital requirements. KeyBank acted as Sole Lender on the transaction. 

Founded in 1998 and headquartered in Phenix City, Alabama, The Memory Company is a leading developer and distributor of licensed consumer drinkware, home décor, and related hard goods products, serving major retailers and e-commerce platforms. TMC holds long-standing licensing agreements with major U.S. sports leagues such as the NFL, MLB, and NCAA, with an average tenure of over 25 years, as well as other globally recognized consumer brands. TMC is a rapidly growing business that sets itself apart through its broad portfolio of top-tier licenses, trend-driven product innovation, and strong retail relationships.

Fruition Partners is a growth-oriented private equity firm that partners with founder-led and family-owned companies to accelerate their next phase of development. With deep expertise in scaling businesses organically and through M&A, the firm focuses on category-defining platforms with durable competitive advantages. Fruition Partners is dedicated to supporting entrepreneurially minded management teams in building exceptional businesses. The firm emphasizes long-term partnership over portfolio volume, providing focused support and strategic alignment. Fruition's investment philosophy centers on backing bold visions, enabling execution of transformative growth plans while maintaining strong alignment and integrity throughout the process. 

Fruition will build on TMC’s success by supporting continued growth with both new and existing partners, while protecting and enhancing its strategic licensing position in an increasingly IP-conscious market.

On July 24, 2025, KeyBanc Capital Markets (KBCM) successfully advised Omni Glass & Paint, LLC (Omni or the Company), a portfolio company of Merit Capital Partners (Merit), on its sale to The Sterling Group Foundation Fund (Sterling). KBCM was selected to serve as Omni's Exclusive Sell-Side Advisor based on its industry-leading specialty distribution investment banking practice, long history of transaction success within the glass/window industry, and track record of successful M&A execution.

Omni is a leading provider of a broad range of glass and paint products and services. Founded in 1967, Omni provides custom glass, panels, contract glazing, and specialty coating solutions to general contractors and manufacturers, primarily in Wisconsin. The Company operates through five divisions including Glass, Paint, OEM, Residential, and Tempering. Omni is headquartered in Oshkosh, Wisconsin, and has six facilities throughout the state.

Headquartered in Chicago, Merit is a private equity investment firm with $2.7 billion of capital under management. Founded in 1993, the firm focuses on providing equity and subordinated debt to lower middle market companies. Merit partners with business owners, management teams and independent sponsors to support management buyouts, recapitalizations and growth financings across the manufacturing, distribution and services sectors.

Headquartered in Houston, Texas, The Sterling Group is a leading private equity and private credit investment firm with $9.4 billion of assets under management. Founded in 1982, the firm focuses on lower middle market companies and partners with management teams to strategically and operationally improve businesses operating within basic manufacturing, distribution, and industrial service industries. The Foundation Fund is a 2023 vintage buyout fund with over $635 million of committed capital.