M&A Deal Summary

Seacoast Capital Acquires LSO

On December 1, 2021, growth capital firm Seacoast Capital acquired transportation company LSO from Eagle Merchant Partners and Petra Capital Partners

Acquisition Highlights
  • This is Seacoast Capital’s 4th transaction in the Transportation sector.
  • This is Seacoast Capital’s 44th transaction in the United States.
  • This is Seacoast Capital’s 2nd transaction in Texas.

M&A Deal Summary
Date 2021-12-01
Target LSO
Sector Transportation
Buyer(s) Seacoast Capital
Sellers(s) Eagle Merchant Partners
Petra Capital Partners
Deal Type Secondary Buyout

Target

LSO

Austin, Texas, United States
website
LSO is a provider of parcel delivery services throughout the Southern United States. LSO offers its clients overnight, expedited ground, same-day, and last-mile logistics solutions. LSO was founded in 1991 and is based in Austin, Texas.

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Buyer(S) 1

Buyer

Seacoast Capital

Danvers, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 1994
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Seacoast Capital is a private investment firm that invests equity and mezzanine capital in smaller companies with revenues greater than $10 million and at least $2 million in operating income. Sectors of interest include manufacturing, distribution, business services and industrial technologies. Seacoast has a particular interest in companies located in underserved urban and rural markets, and in all cases, partners with management when considering transactions. Seacoast Capital was formed in 1994 and has offices in Danvers, Massachusetts and San Francisco, California.

DEAL STATS #
Overall 44 of 45
Sector (Transportation) 4 of 4
Type (Secondary Buyout) 1 of 1
State (Texas) 2 of 2
Country (United States) 44 of 45
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-28 CityLeaf

Richmond, California, United States

CityLeaf, through a strategic alliance with Medallion Landscape, offers a complete suite of indoor and outdoor landscaping services including design; maintenance; arbor care; living walls; moss walls; and holiday décor. Customers include corporate campuses; healthcare facilities; homeowners associations; and apartment complexes. CityLeaf is based in Richmond, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-03 East Coast Warehouse & Distribution

Elizabeth, New Jersey, United States

East Coast Warehouse & Distribution is a provider of integrated temperature-controlled logistics services in the port of New York, New Jersey Marine Terminal and Jersey City. East Coast Warehouse & Distribution was established in 1957 and is based in Elizabeth, New Jersey.

Sell -

Seller(S) 2

SELLER

Eagle Merchant Partners

Atlanta, Georgia, United States

Investor

website

Category Private Equity Firm
Founded 2013
PE ASSETS 265M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Eagle Merchant Partners focused on investing in US-based middle-market consumer, business services, and industrial companies. The Firm targets companies with revenue between $20 and $200 million and EBITDA between $2 and $20 million. Eagle Merchant Partners is based in Atlanta, Georgia.

DEAL STATS #
Overall 4 of 6
Sector (Transportation) 1 of 1
Type (Secondary Buyout) 3 of 5
State (Texas) 3 of 3
Country (United States) 4 of 6
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-12 Caliber Car Wash

Atlanta, Georgia, United States

Caliber Car Wash is a multi-unit operator and developer of premium, express car washes in the United States. Caliber Car Wash was founded in 2019 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-16 Caliber Car Wash

Atlanta, Georgia, United States

Caliber Car Wash is a multi-unit operator and developer of premium, express car washes in the United States. Caliber Car Wash was founded in 2019 and is based in Atlanta, Georgia.

Sell -
SELLER

Petra Capital Partners

Nashville, Tennessee, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1996
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Petra Capital Partners is a private investment firm that invests in US-based, high-growth businesses operating in the business services, healthcare services, media/publishing, telecom, IT, and information services sectors. Target companies are generally cash-flow positive with revenues in excess of $10 million and growth rates above 20%. Petra can commit up to $20 million per transaction. The Firm typically invests in subordinated debentures with warrants to purchase equity securities. Petra Capital Partners is licensed as a SBIC. The Firm was formed in 1996 and is based in Nashville, Tennessee.

DEAL STATS #
Overall 27 of 30
Sector (Transportation) 2 of 2
Type (Secondary Buyout) 6 of 8
State (Texas) 7 of 7
Country (United States) 27 of 30
Year (2021) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-02 T2 Systems

Indianapolis, Indiana, United States

T2 Systems is a provider of unified SaaS (Software as a Service) parking management solutions. T2 Systems's comprehensive portfolio of services includes solutions that help organizations manage parking permits, citations, gated parking facilities, and special events. T2 Systems was established in 1994 and is based in Indianapolis, Indiana.

Sell $356M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 Acute Behavioral Health

Nashville, Tennessee, United States

Acute Behavioral Health is a operator of non-hospital inpatient psychiatric treatment facilities providing behavioral healthcare services to adolescents. Acute Behavioral Health was founded in 2021 and is based in Nashville, Tennessee.

Buy -
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