DFX Intelligence
Private Equity Intelligence
Firms, funds, people, portfolio companies and transactions from sworn filings and cited announcements, kept as a graph with a date and a source on every edge. Reported gross assets are never fund size, regulatory AUM is never dry powder, and a deal value prints only when someone disclosed it.
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Firms / T•••• H•••••••• L••
T•••• H•••••••• L••
T•••• is a private investment firm focused exclusively on building distinctive middle market service companies across the food supply chain.
Classification
- Class
- Buyout firmconfirmed, confidence 85%
- Basis
- R6: 3 of 3 distinct vehicles are sworn Private Equity Funds; 3 reported gross assets on a filing in 2022 or later
- Size band
- Lower middle marketdefined by: proxy: $0.36bn Private Equity Fund GAV on the Form ADV filed 2024-03-29
- Strategies
- SECONDARIES
Classification history (1)
- Sep 13, 2026Buyout firm (confirmed, 85%, cls-pe-1)R6: 3 of 3 distinct vehicles are sworn Private Equity Funds; 3 reported gross assets on a filing in 2022 or later
Regulatory footprint (Form ADV)
- Adviser type
- registered investment adviser
- Form ADV filings
- Feb 6, 2018 to Mar 29, 2024
- RAUM
- $358Mregulatory assets under management of the adviser; not dry powder, not a fund size
- PE funds, latest filing
- 3
- PE fund GAV, latest filing
- $358Mreported gross assets (Form ADV), not fund size
- All private fund GAV
- $358Mevery private fund type, latest filing
- 2024 PE fund GAV
- $358Msum over funds typed Private Equity Fund with a 2024 or later as-of date
- PE share of funds, lifetime
- 100%
- Fund type mix
- filed 2024-03-29, latest gav Private Equity Fund $358M, latest counts Private Equity Fund 3, lifetime distinct Private Equity Fund 3
- Employees
- 9
- Headquarters
- Chicago, IL
- Office address
- 320 S. CANAL ST., SUITE 2930, Chicago, IL, 60606
- Business phone
- 312-535-0225
Stated criteria beside observed behaviour
8 observed deals
Stated by the firm
- Sectors
- food beverage, transportation logistics
- Geography
- not stated or not yet read
- Revenue
- not stated or not yet read
- EBITDA
- not stated or not yet read
- Enterprise value
- not stated or not yet read
- Equity check
- not stated or not yet read
- Control
- control
- Thesis
- At T••••, we make control investments, partnering with growing companies who provide business services and solutions to larger customers and suppliers operating within the global food supply chain.
Observed from deals on record
- roles
- add on 1, unknown 2, platform 6
- period
- to 2024-10-18, from 2018-03-19, undated holdings 1, dated observations 16
- window
- last 2024-10-18, first 2018-03-19
- control
- control 7, unknown 2
- companies
- 8
- geography
- count 1, share 0.125, value NJ
- investments
- 9
- seller kinds
- transactions
- 8
- cadence by year
- 2018 platforms 1, 2019 platforms 3, 2021 platforms 2, other deals 1, 2024 add ons 1
- platform add on
- add ons 1, platforms 6, add ons per platform 0.17
- sector known for
- 5
- disclosed value usd
- n 0
- sector distribution
- count 3, share 0.375, value industrial manufacturing, examples STONE GROUND BAKERY, Wheat Montana, Proven Partners Group, count 2, share 0.25, value transportation logistics, examples TRILOGY WAREHOUSE PARTNERS, Refrig-It
- holding period years
- n 0
- repeat counterparties
- role legal adviser, shared 4, entity id b64f3c6e-561e-4d72-8a72-2164e6b1f28c, role lender, shared 2, entity id 1f20ddd5-ccd6-4a20-9df9-91e2a80879e8
- subsector distribution
- count 2, share 0.25, value food manufacturing, examples STONE GROUND BAKERY, Wheat Montana, count 1, share 0.125, value warehousing, examples TRILOGY WAREHOUSE PARTNERS, count 1, share 0.125, value miscellaneous manufacturing, examples Proven Partners Group, count 1, share 0.125, value freight forwarding brokerage, examples Refrig-It
8 companies on the graph (8 transactions); most in industrial manufacturing (3); 6 platforms and 1 add-ons; observed 2018 to 2024
Funds
3 on record
| Fund | Vehicle | Vintage | Reported gross assets (Form ADV), not fund size | GAV by year | Form D sold | Lifecycle |
|---|---|---|---|---|---|---|
| T•••• A•••• F••• I• L••• ADV: Private Equity Fund | Continuation vehicle | 2022 first reported on Form ADV | $16.3M as of Mar 29, 2024 | no Form D | Unknown | |
| T•••• F••• I•• L••• ADV: Private Equity Fund | buyout or unlabelled | 2021 first reported on Form ADV | $188M as of Mar 29, 2024 | no Form D | Unknown | |
| T•••• F••• I• L••• ADV: Private Equity Fund | buyout or unlabelled | unknown | $154M as of Mar 29, 2024 | no Form D | Harvest |
Team
10 current, 0 former
Managing partner (4)
- E••• C•••••••• L••••• · Co-Founder, Chairman & Co-CEO · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- E••• C•••••••• L••••• · Managing Partner, Managing Member · since Feb 1, 2017 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- J••••••• P•• B••••• · Managing Partner, Managing Member · since Feb 1, 2017 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- J••••••• P•• B••••• · Co-Founder & Co-CEO · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Partner (4)
- E•••• H••••• · Administrative Services Manager · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- J• E•••• · Managing Director, Head of AI & Data · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- M••••••• M•••••• · Managing Director & Chief Growth Officer · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- R•• C•••• · Managing Director, Chief of Staff · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Platform (2)
- J••• S••••• · Vice President, Finance & Administration, CCO · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- J••• S••••• · Vp Of Finance And Administration, Chief Compliance Officer · since Jun 1, 2019 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
Portfolio
9 relationships, 6 platforms, 1 add-ons
Transactions
8 on record
| Date | Type | Target | This firm’s role | Source |
|---|---|---|---|---|
| Oct 18, 2024 | Add-on acquisition | X••• S•••••••• | Sponsor (confirmed) | t•••••••.com |
| Nov 9, 2021 | Growth investment | S•••• G••••• B••••• | Sponsor (confirmed) | t•••••••.com |
| Jul 26, 2021 | Exit to a strategic buyer | F••••••• | Seller (confirmed) | t•••••••.com |
| May 7, 2021 | Platform acquisition | W•••• M•••••• | Sponsor (confirmed) | t•••••••.com |
| Apr 30, 2021 | Platform acquisition | N••••••••• I••••••••• | Sponsor (confirmed) | t•••••••.com |
| Dec 6, 2019 | Platform acquisition | T•••••• W•••••••• P••••••• | Sponsor (confirmed), Sponsor (confirmed) | t•••••••.com |
| Mar 21, 2019 | Platform acquisition | P••••• P••••••• G•••• | Sponsor (confirmed) | t•••••••.com |
| Mar 19, 2018 | Platform acquisition | R•••••••• | Sponsor (confirmed) | t•••••••.com |
Placement agents, lenders, advisers and co-investors
13 relationships
Placement agents (2)
- A••••••••• C••••••• I••• 1 shared · one time · last Jan 1, 2021
- N•••• S•• S••••••••• L••• 1 shared · one time · last Jan 1, 2018
Lenders (6)
- T••• W••• C•••••• P••••••• 2 shared · recurring · last Nov 9, 2021
- T••• B•••• C•••••• P••••••• 1 shared · one time · last Apr 30, 2021
- C••• A•••• M••••••••• L•• 1 shared · one time · last Mar 21, 2019
- T•• N••••••• B••• 1 shared · one time · last May 7, 2021
- L•• C••••• P••••••• 1 shared · one time · last Mar 21, 2019
- H••••••••• N••••••• B••• 1 shared · one time · last Nov 9, 2021
Financial advisers (3)
- A•••••• 1 shared · one time · last Apr 30, 2021
- L•••••• I••••••••• L•• 1 shared · one time · last May 7, 2021
- C••• A••••••• 1 shared · one time · last Nov 9, 2021
Legal advisers (2)
- M•••• B•••• L•• 4 shared · strong · last Nov 9, 2021
- F•••• • L•••••• L•• 1 shared · one time · last Apr 30, 2021
LP commitments
0 disclosed
No LP commitment collected yet. An LP edge needs a public disclosure with a quote, such as a pension plan’s report or an announcement naming the LP.
Events
28 most recent
- Jul 8, 2025T•••• Announces Acquisition Of Caputo Cheese, A Leading Value-Added Processor Of High-Quality Italian Cheeses Serving Foodservice And Food Manufacturing Sectors
- Oct 18, 2024N••••••••• I••••••••• Acquires X••• S••••••••
- Aug 21, 2024TILIA HOLDINGS SELLS ELLISON, A PREMIER MANUFACTURER OF BAKED INGREDIENT SOLUTIONS
- Dec 20, 2023TILIA PARTNERS WITH EVER FRESH FRUIT COMPANY, A PROVIDER OF FORMULATED INGREDIENT SOLUTIONS
- Jun 26, 2023JONATHAN HOOK JOINS TILIA AS SENIOR ADVISOR
- Jun 23, 2023M••••••• M•••••• JOINS TILIA AS AN OPERATING PARTNER
- Jun 16, 2023TILIA HOLDINGS ANNOUNCES EXPANSION OF INVESTMENT TEAM
- Nov 2, 2022TILIA HOLDINGS SELLS UNIVERSAL PURE, A LEADING FOOD SAFETY PLATFORM FOR COLD CHAIN HUMAN AND PET FOOD CUSTOMERS
- Jun 2, 2022UNIVERSAL PURE ACQUIRES HYDROFRESH HPP FROM KELLER LOGISTICS GROUP
- Nov 9, 2021TILIA HOLDINGS ANNOUNCES GROWTH INVESTMENT IN S•••• G••••• B•••••
- Nov 9, 2021TILIA HOLDINGS ANNOUNCES GROWTH INVESTMENT IN S•••• G••••• B•••••
- Jul 26, 2021FlexXray Announces Significant Growth Investment from Warburg Pincus and T•••• Holdings
- Jul 26, 2021FlexXray Announces Significant Growth Investment from Warburg Pincus and T•••• Holdings
- Jul 8, 2021Warburg Pincus and T•••• Holdings Announce Investment in Food Safety Net Services
- May 7, 2021TILIA PARTNERS WITH W•••• M••••••, A PREMIUM PROVIDER OF BETTER-FOR-YOU FRESH AND FROZEN B••••• AND MILLED PRODUCTS
- May 7, 2021TILIA PARTNERS WITH W•••• M••••••, A PREMIUM PROVIDER OF BETTER-FOR-YOU FRESH AND FROZEN B••••• AND MILLED PRODUCTS
- Apr 30, 2021TILIA PARTNERS WITH N••••••••• I•••••••••, A SPECIALTY INGREDIENTS SOLUTIONS PROVIDER
- Apr 30, 2021TILIA PARTNERS WITH N••••••••• I•••••••••, A SPECIALTY INGREDIENTS SOLUTIONS PROVIDER
- Oct 23, 2020JIM MILLER JOINS TILIA AS OPERATING PARTNER
- Dec 6, 2019TILIA INVESTS IN T•••••• W•••••••• P•••••••
- Dec 6, 2019TILIA INVESTS IN T•••••• W•••••••• P•••••••
- Jul 15, 2019Universal Pure Acquires Stay Fresh Foods
- Mar 21, 2019T•••• Announces Acquisition Of P••••• P••••••• G••••, A Leading Food Contract Manufacturer And Packager
- Mar 21, 2019T•••• Announces Acquisition Of P••••• P••••••• G••••, A Leading Food Contract Manufacturer And Packager
- Dec 10, 2018T•••• Partners With Universal Pure, A Leading Food Safety Platform
- Mar 19, 2018T•••• Holdings LLC Announces its Recent Acquisition of R••••••••, Inc.
- Mar 19, 2018T•••• Holdings LLC Announces its Recent Acquisition of R••••••••, Inc.
- Feb 6, 2018T•••• H•••••••• L•• first filed Form ADV in the extract (ERA)
Across the graphs
T•••• H•••••••• L•• is the same institution as 3 records in Venture Capital, Independent Sponsors and RIA and Wealth.
Venture Capital1Independent Sponsors1RIA and Wealth1
Which record it is in each graph, what it is called there, and what the two were joined on. The Data Factory holds all nine graphs and the identity layer between them.
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