Leonard Green exits Jetro; TruArc Partners buys Matrix Adhesives

Deal Wrap is updated as of 3 p.m. ET.

– Leonard Green & Partners LP and co-investors agreed to sell Jetro Cash & Carry LLC, the owner of wholesale foodservice distributor Jetro Restaurant Depot, to Sysco Corp. for approximately $29.1 billion in cash and stock. The deal values Jetro at 14.6x TEV/EBIT, based on Jetro's 2025 revenue of $16 billion and EBITDA of $2.1 billion. Goldman Sachs and TD Securities acted as financial advisers to Sysco, while Paul Weiss and Jones Day were Sysco's legal advisers. Evercore advised Jetro, with Wachtell Lipton and Macfarlanes as legal advisers, J.P. Morgan and Latham & Watkins advised major shareholder Leonard Green & Partners.

– TruArc Partners LP acquired adhesives and sealants manufacturer Matrix Adhesives Group LLC from Goldner Hawn LP. Chemlink Partners served as financial adviser and Davis Polk & Wardwell LLP acted as legal adviser to TruArc Partners. Houlihan Lokey and BMO Capital Markets served as financial advisers to Matrix Adhesives Group.

– Del Monte Capital completed a majority recapitalization of DLG Infrastructure Services. Troutman Pepper Locke served as legal adviser to Del Monte Capital. Gilbert & Pardue Transaction Advisors was sell-side adviser to DLG.

– Kain Capital LLC invested in White-Wilson Medical Center PA, a multi-specialty physician group.

– Limestone Capital Advisors, LLC, through its Amethyst III fund, invested €30 million in Eterniti SL, a luxury private villa and ski chalet rental and property management group. The investment brings total capital raised to €50 million.

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