Los Angeles Daily Journal Dealmakers
Rutan & Tucker LLP advised RCP Advisors, a private equity investment management firm focused on North American lower middle market buyouts, in a merger with P10 Industries, Inc. Rutan & Tucker released details on its role in the deal Oct. 11.
RCP Advisors has received 44,171,233 newly issued P10 Industries shares, representing about 49 percent of P10’s outstanding shares, along with cash and seller notes.
P10 Industries closed its acquisition of RCP Advisors 2 LLC and entered into a deal to buy RCP Advisors 3 LLC in January 2018, according to a news release.
RCP Advisors 2 and RCP Advisors 3 collectively make up RCP Advisors, which also provides advisory and research services. The company, founded nearly two decades ago, has raised nearly $6 billion of committed capital. RCP Advisors will continue with its existing management team and operate as a wholly owned P10 Industries subsidiary, according to a news release.
Rutan & Tucker also announced it advised RCP Advisors in a related senior credit facility.
P10 Industries Inc., a Dallas-based public company, said it aims to buy valuable intellectual property assets and profitable businesses in the commercial and industrial markets. The company was founded late last year after Piller Power Systems Inc. finalized an asset acquisition of Active Power Inc. Active Power rebranded and changed its name to P10 Industries in accordance with terms of that acquisition agreement.
Partner Ellis G. Wasson (pictured) in Costa Mesa led negotiations on behalf of Rutan & Tucker.