M&A Deal Summary

Oak Hill Capital and Ardian Acquire Trinity Consultants

On June 29, 2021, private equity firms Oak Hill Capital and Ardian acquired business services company Trinity Consultants from Levine Leichtman Capital Partners

Acquisition Highlights
  • This is Oak Hill Capital’s 6th and Ardian’s 31st transaction in the Business Services sector.
  • This is Oak Hill Capital’s 60th and Ardian’s 56th transaction in the United States.
  • This is Oak Hill Capital’s 8th and Ardian’s 8th transaction in Texas.

M&A Deal Summary
Date 2021-06-29
Target Trinity Consultants
Sector Business Services
Buyer(s) Oak Hill Capital
Ardian
Sellers(s) Levine Leichtman Capital Partners
Deal Type Secondary Buyout
Advisor(s) Robert W. Baird & Co., Inc.
Piper Sandler & Co. (Financial)

Target

Trinity Consultants

Dallas, Texas, United States
website
Trinity Consultants is a provider of air quality consulting and compliance services in the United States. Trinity’s deep experience in consulting, technology, training, and staffing across environmental, health and safety, engineering, and science helps organizations effectively overcome complex, mission-critical challenges. Trinity Consultants was founded in 1974 and is based in Dallas, Texas.

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Buyer(S) 2

Buyer

Oak Hill Capital

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1986
PE ASSETS 9.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oak Hill Capital Partners was originally formed as the private equity investment vehicle for Robert Bass and in 1999, opened up to outside investors and raised its first private equity fund. Oak Hill looks to invest in middle-market companies and focuses its efforts within six industry groups. The six groups include basic industries; business and financial services; consumer, retail, and distribution; healthcare; media and telecom; and technology. Oak Hill targets businesses with defensible business models, strong market positions, and 'best-in-class' management. Oak Hill Capital was formed in 1986 and has offices in Stamford, Connecticut; Menlo Park, California; and New York City.

DEAL STATS #
Overall 67 of 73
Sector (Business Services) 6 of 7
Type (Secondary Buyout) 23 of 24
State (Texas) 8 of 9
Country (United States) 60 of 66
Year (2021) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-07 Technimark

Asheboro, North Carolina, United States

Technimark is a manufacturer of high-value injection-molded packaging and components serving the consumer packaging, healthcare, and industrial markets. Technimark was founded in 1983 and is based in Asheboro, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-26 Pulsant

Maidenhead, United Kingdom

Pulsant is a provider of connectivity, hosting and managed IT services to medium-sized businesses, acting as the outsourced partner responsible for IT infrastructure and hosting critical IT hardware in secure physical facilities or data centres to ensure a consistent IT environment with no downtime. Pulsant was established in 1995 and is based in Maidenhead, United Kingdom.

Sell -
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1996
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €150 million per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.

DEAL STATS #
Overall 393 of 416
Sector (Business Services) 31 of 35
Type (Secondary Buyout) 125 of 135
State (Texas) 8 of 8
Country (United States) 56 of 58
Year (2021) 11 of 25
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-17 NetCo

Bordeaux, France

NetCo is a provider of general maintenance and servicing of conveyor systems across a wide range of production sectors - particularly food processing, logistics, minerals and agro-food. NetCo was founded in 1902 and is based in Bordeaux, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-30 Translated

Rome, Italy

Translated provides human translation services through internet based language translation platform. The company has developed an Enterprise-grade end-to-end offering based on its translation management software, with dedicated offerings for text translation, video subtitling and asynchronous dubbing. Translated was founded in 1999 and is based in Rome, Italy.

Buy -

Seller(S) 1

SELLER

Levine Leichtman Capital Partners

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 1984
PE ASSETS 12.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Levine Leichtman Capital Partners (LLCP) is a West Coast US based private investment firm that targets mezzanine and other structured equity investments in middle-market companies. The Firm has several funds, each with different strategies. LLCP's larger fund targets subordinated debt, preferred equity, and/or common equity investments in companies with $100 to $750 million of revenue. The Firm's smaller fund invests $5 to $15 million in emerging companies with less than $25 million in revenue. LLCP also invests in financially distressed businesses. LLCP was formed in 1984 and has offices in Beverly Hills, California; Chicago, Illinois; Dallas, Texas; New York City; and London.

DEAL STATS #
Overall 43 of 54
Sector (Business Services) 2 of 4
Type (Secondary Buyout) 22 of 28
State (Texas) 6 of 9
Country (United States) 40 of 50
Year (2021) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-14 Nothing Bundt Cakes

Addison, Texas, United States

Nothing Bundt Cakes is a franchisor of gourmet bakeries offering specialty Bundt cakes and related merchandise items in over 175 locations in the United States and Canada. The Company's products are hand-crafted and baked on-site. Nothing Bundt Cakes was founded in 1997 and is headquartered in Addison, TX.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-26 Flexxray

Arlington, Texas, United States

FlexXray is a provider of x-ray inspection services focused exclusively on food safety. The company assists food manufacturers with regulatory compliance and food safety issues by identifying and removing foreign contaminants from food. Hundreds of manufacturing plants in North America rely on FlexXray’s expertise and customer service to salvage valuable products when contamination events occur in the normal course of the food manufacturing process. FlexXray was founded in 2001 and is headquartered in Arlington, Texas.

Sell -
Mergr

Product

Company

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