M&A Deal Summary

New Heritage Capital Acquires Continental Services

On February 22, 2017, private equity firm New Heritage Capital acquired business services company Continental Services from Rock Island Capital

Acquisition Highlights
  • This is New Heritage Capital’s 2nd transaction in the Business Services sector.
  • This is New Heritage Capital’s 18th transaction in the United States.
  • This is New Heritage Capital’s 1st transaction in Michigan.

M&A Deal Summary

Date 2017-02-22
Target Continental Services
Sector Business Services
Buyer(s) New Heritage Capital
Sellers(s) Rock Island Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Continental Services

Detroit, Michigan, United States
website
Continental Services is a provider of a spectrum of tailored services, including vending services, office coffee replenishment, corporate cafés, grab-and-go markets, and special events. Continental Services was founded in 1990 and is based in Detroit, Michigan.

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Buyer(S) 1

Buyer

New Heritage Capital

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2006
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

New Heritage Capital LLC is a private investment firm specializing in the acquisition and equity-based recapitalization of private, family owned businesses. Heritage looks to invest in growing, middle-market companies with at least $30 million in annual revenue and EBITDA of at least $4 million. Target sectors include aerospace, consumer products, food/beverage, media/publishing, healthcare, manufacturing, pet products, plastics/packaging, printing, and value-added distribution. New Heritage Capital LLC was formed in 2006 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 20 of 29
Sector (Business Services) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 9 of 9
State (Michigan) 1 of 1
Country (United States) 18 of 26
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-06 Tandym Group

New York, New York, United States

Tandym Group is a recruitment firm focused on serving accounting firms, boutique hedge funds, and private equity funds. Tandym Group was founded in 1985 and is based in New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-08 Flying Colours

Peterborough, Ontario, Canada

Flying Colours is an aviation services company, that provides aircraft completions and maintenance services. Flying Colours specializes in all mid to large-sized business aircraft, including the bombardier global express and challenger families, dassault falcon, beechcraft/hawker and gulfstream models. Flying Colours was founded in 1989 and is based in Peterborough, Ontario.

Buy -

Seller(S) 1

SELLER

Rock Island Capital

Oak Brook, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 310M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Rock Island Capital is a private equity firm that provides equity and mezzanine capital to middle-market manufacturing, distribution or service companies located in the US. Rock Island typically invests to support management buyouts, generational changes of ownership, growth and expansion, and recapitalization. Prospective companies generally have sales of at least $10 million and are valued up to $150 million. The Firm will consider both majority or minority positions. Rock Island Capital has offices in Oak Brook, Illinois and Kansas City, Missouri.


DEAL STATS #
Overall 7 of 12
Sector (Business Services) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 1 of 1
State (Michigan) 2 of 2
Country (United States) 7 of 12
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Baker Manufacturing

Evansville, Wisconsin, United States

Baker Manufacturing is a manufacturer of pumps for the viscous fluid transfer market; water well equipment and accessories for residential and industrial/municipal water systems; and short-run castings for general industrial markets. Baker Manufacturing was founded in 1873 and is based in Evansville, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-20 DGS Retail

Mansfield, Massachusetts, United States

DGS Retail is a provider of interior décor, signage, and fixtures for major chain retailers and restaurant chains. Its products include design elements that help define a retailer’s brand and image: wall décor, banners, signage, displays, risers, and counters. DGS Retail was founded in 1979 and is based in Mansfield, Massachusetts.

Buy -