M&A Deal Summary

GenNx360 Capital Partners Acquires GenServe

On April 16, 2018, private equity firm GenNx360 Capital Partners acquired energy services and equipment company GenServe from Anvil Capital and Argosy Private Equity

Acquisition Highlights
  • This is GenNx360 Capital Partners’ 2nd transaction in the Energy Services and Equipment sector.
  • This is GenNx360 Capital Partners’ 15th transaction in the United States.
  • This is GenNx360 Capital Partners’ 1st transaction in New York.

M&A Deal Summary
Date 2018-04-16
Target GenServe
Sector Energy Services and Equipment
Buyer(s) GenNx360 Capital Partners
Sellers(s) Anvil Capital
Argosy Private Equity
Deal Type Secondary Buyout

Target

GenServe

Bay Shore, New York, United States
website
GenServe is an independent provider of scheduled and emergency power generator maintenance, repair and sales in the North Atlantic region serving commercial customers in various industries. GenServe was formed in 1990 and is headquartered in Plainview, New York.

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Buyer(S) 1

Buyer

GenNx360 Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2006
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GenNx360 Capital Partners is a private equity firm focused on acquiring mid-sized US-based businesses. GenNx360 targets companies with revenues between $50 and $500 million and $5 to $35 million of EBITDA. The Firm looks to invest $25 to $100 million per transaction. Specific areas of interest include industrial water treatment, specialty chemicals/engineered materials, industrial machinery/equipment components, agriculture products and services, global transportation component parts, aerospace/defense, oil/gas services and business services. GenNx360 Capital Partners was formed in 2006 and is based in New York City.

DEAL STATS #
Overall 17 of 26
Sector (Energy Services and Equipment) 2 of 2
Type (Secondary Buyout) 7 of 9
State (New York) 1 of 3
Country (United States) 15 of 24
Year (2018) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-03 Subsea

Miami, Florida, United States

Subsea is a provider of underwater vessel maintenance, inspection and repair services to vessel owners and operators within diversified marine transportation and construction sectors. Subsea services include hull and propeller fleet management, underwater wet welding, seal replacement, tunnel thruster repair, azimuth thruster repair, and environmental hull cleaning. The Company provides both routine hull maintenance services to drive fuel efficiencies and highly technical repair solutions allowing vessel operators to reduce dry-docking costs, while keeping the vessel in service. Subsea is headquartered in Miami, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-30 Precision Aviation Group

Atlanta, Georgia, United States

Precision Aviation Group is a provider of products and value-added services to the worldwide aerospace and defense industry. With nine locations and more than 260,000-square-feet of sales and service facilities in the United States, Canada, Australia, Brazil, and Singapore, PAG uses its distinct business units and customer-focused business model to serve aviation customers through two business functions – Aviation Supply Chain, and its Inventory Supported Maintenance, Repair and Overhaul services. Precision Aviation Group is headquartered in Atlanta, Georgia.

Buy -

Seller(S) 2

SELLER

Anvil Capital

Boston, Massachusetts, United States

Investor Investor

website

Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Anvil Capital LLC is a private investment firm that seeks equity investments in established, privately held businesses. The Firm pursues companies with revenues of $5 to $20 million and EBITDA between $1 and $3 million. Anvil looks for businesses with significant organic and acquisition growth opportunities. Funds are generally used to support generational transitions of family businesses, recapitalizations, industry consolidations, and corporate divestitures. Anvil avoids investing in companies that are turnarounds, early stage, or operate in the industries of high technology, real estate, and healthcare. Anvil Capital was formed in 2002 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 3 of 4
Sector (Energy Services and Equipment) 2 of 2
Type (Secondary Buyout) 1 of 2
State (New York) 2 of 2
Country (United States) 3 of 4
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-14 Atlas Devices

Chelmsford, Massachusetts, United States

Atlas Devices is a developer, manufacturer, and supplier of rapid access solutions for security, defense and rescue applications. Atlas Devices was founded in 2005 and is based in Chelmsford, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-01 Leahy Landscaping

Lynn, Massachusetts, United States

Leahy Landscaping is a provider of landscaping services to commercial, municipal and high-end residential customers throughout Massachusetts and southern New Hampshire. Leahy Landscaping was founded in 1984 and is based in Lynn, Massachusetts.

Buy -
SELLER

Argosy Private Equity

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1990
PE ASSETS 575M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Argosy Private Equity is the private equity arm of Argosy Capital, an asset management firm. Argosy Private Equity provides both debt and equity capital to lower middle-market companies located throughout the US. Argosy focuses on growth companies with experienced management teams and revenues between $15 and $100 million and EBITDA of $3 to $9 million. Argosy looks to invest $5 - $20 million per transaction. Specific areas of interest include manufacturing, business services, franchising and Value added distributions. The Firm will consider a variety of transaction types, including MBO’s, recapitalizations, growth equity and acquisitions. Argosy was formed in 1990 and is based in Wayne, Pennsylvania.

DEAL STATS #
Overall 31 of 52
Sector (Energy Services and Equipment) 2 of 2
Type (Secondary Buyout) 8 of 9
State (New York) 2 of 3
Country (United States) 31 of 52
Year (2018) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-19 Nationwide Industries

Tampa, Florida, United States

Nationwide Industries is a designer and manufacturer of quality hardware and components for the building materials industry. Nationwide’s products include a broad line of fence and gate hardware, railing component and infill systems, perimeter security components, custom building materials components sold on an OEM basis, and hardware for the patio industry. Nationwide Industries is based in Tampa, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-30 Simkar

Philadelphia, Pennsylvania, United States

Simkar Corp. is a manufacturer of linear and compact fluorescent, exit and emergency, HID and vandal resistant lighting fixtures for commercial, industrial and residential applications.

Sell -
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