M&A Deal Summary

Harvest Partners Private Equity and Harvest Partners Structured Capital Acquire Service Express

On November 22, 2019, private equity firms Harvest Partners Private Equity and Harvest Partners Structured Capital acquired information technology company Service Express from Pamlico Capital

Acquisition Highlights
  • This is Harvest Partners Private Equity’s 2nd and Harvest Partners Structured Capital’s 3rd transaction in the Information Technology sector.
  • This is Harvest Partners Private Equity’s 37th and Harvest Partners Structured Capital’s 23rd transaction in the United States.
  • This is Harvest Partners Private Equity’s 1st and Harvest Partners Structured Capital’s 2nd transaction in Michigan.

M&A Deal Summary

Date 2019-11-22
Target Service Express
Sector Information Technology
Buyer(s) Harvest Partners Private Equity
Harvest Partners Structured Capital
Sellers(s) Pamlico Capital
Deal Type Secondary Buyout
Advisor(s) Edmond de Rothschild Corporate Finance
William Blair (Financial)
Alston & Bird LLP (Legal)

Target

Service Express

Grand Rapids, Michigan, United States
website
Service Express is a provider of Third Party Maintenance (“TPM”) services for mission-critical data center infrastructure focused on server and storage equipment. Service Express was founded in 1986 and is based in Grand Rapids, Michigan.

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Buyer(S) 2

Buyer

Harvest Partners Private Equity

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harvest Partners is a private equity firm that targets buyout and growth capital investments in middle-market public and private companies. Harvest Partners looks to invest in profitable ($30 to $300 million of EBITDA) consumer products/retail, manufacturing, marketing, building products, industrial, specialty services, and value-added distribution companies valued between $100 and $600 million. The Firm prefers opportunities headquartered in North America. Harvest Partners was formed in 1981 and is based in New York City.


DEAL STATS #
Overall 40 of 49
Sector (Information Technology) 2 of 3
Type (Secondary Buyout) 21 of 27
State (Michigan) 1 of 1
Country (United States) 37 of 46
Year (2019) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-01 Yellowstone Landscape

Plano, Texas, United States

Yellowstone Landscape is a provider of a variety of landscaping services to commercial, governmental and institutional customers located in the Southeastern United States and Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-09 Lazer Logistics

Alpharetta, Georgia, United States

Lazer Logistics is a provider of comprehensive yard management solutions, including trailer spotting, shuttling and other complementary transportation and logistics services. Lazer Logistics was founded in 1996 and is based in Alpharetta, Georgia.

Buy -
DESCRIPTION

Harvest Partners Structured Capital is a private investment group focused on minority position, non-control investments. The Group looks for businesses with $100 million to $1 billion in revenues where Harvest can commit $50 to $250 million. Sectors of interest include business services, consumer services, healthcare, industrial services, manufacturing, and distribution. Harvest Partners Structured Capital is a unit of PE Firm Harvest Partners. The Firm is based in New York City.


DEAL STATS #
Overall 24 of 31
Sector (Information Technology) 3 of 4
Type (Secondary Buyout) 9 of 12
State (Michigan) 2 of 2
Country (United States) 23 of 30
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-28 Integrity Marketing Group

Dallas, Texas, United States

Integrity Marketing Group is a distributor of life and health insurance products focused on serving the senior market. Integrity Marketing Group was founded in 2006 and headquartered in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 8th Avenue Food & Provisions

Edina, Minnesota, United States

8th Avenue Food & Provisions is a manufacturer of private brand food products, with a focus on organic and conventional peanut and tree nut butters, dry pasta, and organic and non-GMO granola. 8th Avenue Food & Provisions was founded in 2018 and is based in Edina, Minnesota.

Buy -

Seller(S) 1

SELLER

Pamlico Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Pamlico Capital is a private equity group focused on mid-sized transactions. Pamlico looks to invest $25 to $125 million per transaction. Sectors of interest include business and technology services, consumer products/services, industrial, energy, financial services, healthcare, media, and communications. Pamlico will consider both minority and majority positions. Prospective transactions include management or leveraged buyouts, recapitalizations, growth financings, mezzanine, and special situations. Pamlico was formerly known as Wachovia Capital Partners. The Firm was originally formed in 1988 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 49 of 61
Sector (Information Technology) 6 of 7
Type (Secondary Buyout) 17 of 21
State (Michigan) 2 of 3
Country (United States) 47 of 59
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-30 MetaMetrics

Durham, North Carolina, United States

MetaMetrics is an education technology organization that offers the only scientifically valid, universal scales for measuring reading and listening (Lexile) as well as math (Quantile). The Lexile and Quantile Frameworks measure student ability and the complexity of the content they encounter. Lexile and Quantile measures and related technologies link assessment to instruction and provide next steps for students of all ages and abilities. MetaMetrics was formed in 1984 and is based in Durham, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-01 HelioCampus

Bethesda, Maryland, United States

HelioCampus is a business-performance analytics tech-enabled services platform for colleges and universities. HelioCampus’ technology platform consolidates, organizes, and manages an institution’s data as HelioCampus’ data scientists partner with customers to develop solutions for their most pressing challenges. HelioCampus helps institutions jump-start or accelerate their path to advanced analytics and realize improvements in enrollment, persistence, and managing costs. HelioCampus was founded in 2015 and is based in Bethesda, Maryland.

Buy -