M&A Deal Summary

Sentinel Capital Partners and Yukon Partners Acquire Apex Companies

On November 28, 2018, private equity firm Sentinel Capital Partners and mezzanine finance firm Yukon Partners acquired environmental company Apex Companies from Tailwind

Acquisition Highlights
  • This is Sentinel Capital Partners’ 1st and Yukon Partners’ 1st transaction in the Environmental sector.
  • This is Sentinel Capital Partners’ 66th and Yukon Partners’ 37th transaction in the United States.
  • This is Sentinel Capital Partners’ 2nd and Yukon Partners’ 1st transaction in Maryland.
Investment Fate
  • Apex Companies was sold to a consortium of financial buyers in 2023.

M&A Deal Summary
Date 2018-11-28
Target Apex Companies
Sector Environmental
Buyer(s) Sentinel Capital Partners
Yukon Partners
Sellers(s) Tailwind
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)

Target

Apex Companies

Rockville, Maryland, United States
website
Apex is a multi-disciplinary environmental services firm with 28 branches located throughout the Eastern and Central United States. The company provides a broad platform of environmental services, including stormwater system design, engineering, and maintenance; ports, harbors, and water system design and engineering; environmental remediation; industrial hygiene services; and general site assessment, regulatory compliance, and environmental consulting work. Apex was formed in 1988 and is headquartered in Rockville, Maryland.

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Buyer(S) 2

Buyer

Sentinel Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1995
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Sentinel Capital Partners is a private equity firm that targets investments in middle-market companies with strong management and 'attractive growth prospects'. Sentinel looks to invest up to $175 million of equity in companies generating EBITDA of up to $65 million. Sectors of interest include business services/outsourcing, consumer products and services, food and restaurants, franchising, and manufacturing. Prospective transaction situations include management buyouts, recapitalizations, corporate divestitures, take-privates, and growth capital financings. Sentinel Capital Partners was formed in 1995 and is based in New York City.

DEAL STATS #
Overall 72 of 95
Sector (Environmental) 1 of 1
Type (Secondary Buyout) 23 of 35
State (Maryland) 2 of 2
Country (United States) 66 of 88
Year (2018) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-29 Driven Performance Brands

Santa Rosa, California, United States

Driven Performance Brands is a manufacturer of automotive aftermarket products. The Company was founded in 1953 and is based in Santa Rosa, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-13 Pet Supplies Plus

Livonia, Michigan, United States

Pet Supplies Plus is a pet specialty retailer in the United States by total system sales, providing a wide variety of pet food, treats, hard goods and services for dogs, cats, and small animals. Pet Supplies Plus was founded in 1988 and is based in Livonia, Michigan.

Buy -
Buyer

Yukon Partners

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 2008
PE ASSETS 640M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Yukon Partners is a mezzanine finance firm that works with private equity sponsors to fund a variety of investment situations. Yukon looks to invest $10 to $40 million to support buyouts, recapitalizations, take privates, and refinancings. Sectors of interest include automotive, building products, business services, consumer products, food/beverages, healthcare products/services, industrial manufacturing, niche manufacturing, and transportation/logistics. Prospective companies generally have revenues of $30 to $500 million and are profitable with EBITDA of $5 to $50 million. Yukon Partners was formed in 2008 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 38 of 52
Sector (Environmental) 1 of 1
Type (Secondary Buyout) 13 of 17
State (Maryland) 1 of 1
Country (United States) 37 of 51
Year (2018) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-15 Team Technologies

Morristown, Tennessee, United States

Team Technologies is a provider of manufacturing solutions provider for medical and dental products. From conceptualization to completion, TEAM Technologies offers the technology and solutions for every stage of the development and manufacturing processes all under ISO 13485 and FDA-regulated guidelines. Team Technologies was founded in 1988 and is based in Morristown, Tennessee.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-31 American Eye Associates

Chula Vista, California, United States

American Eye Associates is a retina surgery and ophthalmology practice based in Southern California. American Eye Associates is one of the largest retina-focused eye care practices in Southern California and operates across three clinical sites and one ambulatory surgery center in San Diego and Imperial Counties. American Eye Associates' specialist physicians provide a diverse range of treatments related to retina and vitreous diseases and other common eye diseases such as glaucoma and cataracts. American Eye Associates is based in Chula Vista, California.

Buy -

Seller(S) 1

SELLER

Tailwind

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2003
PE ASSETS 3.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Tailwind is an independent private equity firm focused on making control investments in companies operating in the healthcare, media/communications, and business services sectors. Tailwind looks to invest $25 to $200 million in profitable businesses valued above $500 million. The Firm seeks companies with proven business models and strong opportunities for growth, either organically or through acquisition. Tailwind Capital was formed in 2003 and is based in New York, New York.

DEAL STATS #
Overall 16 of 32
Sector (Environmental) 1 of 1
Type (Secondary Buyout) 4 of 12
State (Maryland) 1 of 1
Country (United States) 16 of 32
Year (2018) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-14 Colony Hardware

Orange, Connecticut, United States

Colony Hardware is a distributor of safety equipment, power tools, and other small-ticket job site essentials to multiple trades of contractors serving the commercial construction and public infrastructure construction markets. Colony Hardware was founded in 1988 and is based in Orange, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-29 National HME

Richland Hills, Texas, United States

National HME is a provider of outsourced medical equipment management solutions to the hospice market. National HME delivers medical equipment to hospice caregivers either directly through its full-service locations or through its credentialed network of local providers. The company also provides consolidated ordering and invoicing as well as data on utilization, cost trends, and network management for reporting and analytics. National HME was formed in 2006 and is based in Richland Hills, Texas.

Sell -
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