M&A Deal Summary

NewSpring Capital and Southfield Mezzanine Capital Acquire REIC

On June 2, 2016, private equity firm NewSpring Capital and mezzanine finance firm Southfield Mezzanine Capital acquired business services company REIC

Acquisition Highlights
  • This is NewSpring Capital’s 8th and Southfield Mezzanine Capital’s 3rd transaction in the Business Services sector.
  • This is NewSpring Capital’s 99th and Southfield Mezzanine Capital’s 8th transaction in the United States.
  • This is NewSpring Capital’s 1st and Southfield Mezzanine Capital’s 1st transaction in Montana.
Investment Fate
  • REIC was sold to a consortium of financial buyers in 2022.

M&A Deal Summary

Date 2016-06-02
Target REIC
Sector Business Services
Buyer(s) NewSpring Capital
Southfield Mezzanine Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

REIC

Kalispell, Montana, United States
website
REIC is an equipment rental company that provides construction and industrial equipment for rent, as well as used equipment for sale. The Company operates equipment rental stores throughout the Mountain West region of the United States. REIC was founded in 2014 and is based in Kalispell, Montana.

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Buyer(S) 2

Buyer

NewSpring Capital

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1999
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.


DEAL STATS #
Overall 100 of 184
Sector (Business Services) 8 of 11
Type (Buyout (LBO, MBO, MBI)) 23 of 37
State (Montana) 1 of 1
Country (United States) 99 of 180
Year (2016) 7 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-07 Circonus

Malvern, Pennsylvania, United States

Circonus is a monitoring and analytics platform built for the modern-day enterprise. Circonus delivers crystal-clear, real-time visibility of the behavior, health, trends, and performance of traditional infrastructure and cloud-based technologies in one powerful, unified platform. Circonus was founded in 2010 and is based in Malvern, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-28 Advanced Call Center Technologies

Berwyn, Pennsylvania, United States

Advanced Call Center Technologies is an outsourced call center operator specializing in customer relationship management (“CRM”) and accounts receivable management (“ARM”) services for customers primarily in the financial services and telecommunications industries. Advanced Call Center Technologies was founded in 1996 and is based in Berwyn, Pennsylvania.

Buy -
DESCRIPTION

Southfield Mezzanine Capital is a mezzanine finance provider that looks to invest $5 to $20 million to support profitable ($3+ million of EBITDA) manufacturing, business services, and distribution companies across the US. Prospective transaction situation include acquisition financings, growth capital financings, and recapitalizations. Southfield Mezzanine Capital was formed in 2013 and is headquartered in Greenwich, Connecticut.


DEAL STATS #
Overall 8 of 14
Sector (Business Services) 3 of 4
Type (Buyout (LBO, MBO, MBI)) 3 of 6
State (Montana) 1 of 1
Country (United States) 8 of 14
Year (2016) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-10 inthinc Technology Solutions

Salt Lake City, Utah, United States

inthinc Technology Solutions is a provider of fleet management and driver safety solutions to a broad range of industrial enterprises. inthinc’s vehicle telematics solutions are focused on improving driver safety, operational efficiency, regulatory compliance and workforce optimization through the two-way integration of in-vehicle devices, smart mobile devices, web applications and data management services. inthinc Technology Solutions is based in Salt Lake City, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-05 Nationwide Property & Appraisal Services

Voorhees, New Jersey, United States

Nationwide Property & Appraisal Services is an appraisal management company specializing in the management of appraisal and property valuation services for residential and commercial property lenders. Nationwide Property & Appraisal Services was founded in 2008 and is based in Voorhees, New Jersey.

Buy -