Investment Summary

SkyKnight Capital and Freeman Spogli Invest In NearU

On January 6, 2021, private equity firms SkyKnight Capital and Freeman Spogli invested in business services company NearU

Investment Highlights
  • This is SkyKnight Capital’s 2nd and Freeman Spogli’s 5th transaction in the Business Services sector.
  • This is SkyKnight Capital’s 8th and Freeman Spogli’s 45th transaction in the United States.
  • This is SkyKnight Capital’s 2nd and Freeman Spogli’s 4th transaction in North Carolina.

Investment Summary

Date 2021-01-06
Target NearU
Sector Business Services
Investor(s) SkyKnight Capital
Freeman Spogli
Deal Type Growth Capital
Advisor(s) Jefferies (Financial)
Troutman Pepper Hamilton Sanders (Legal)

Target

NearU

Charlotte, North Carolina, United States
website
NearU is a technology-enabled customer service platform that provides residential and light commercial HVAC services. The company is well-capitalized and seeks to grow aggressively, both organically and by acquiring or partnering with leading HVAC contractors. NearU was formed in 2018 and is based in Charlotte, North Carolina.

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Investor(S) 2

DESCRIPTION

SkyKnight Capital is a private equity firm focused on long-term investments in businesses requiring value-add strategies to achieve growth. SkyKnight will consider majority or minority investment situations and generally looks to commit $25 to $250 million per transaction. Sectors of interest include healthcare, financial services, and tech-enabled services. SkyKnight is headquartered in San Francisco, California.


DEAL STATS #
Overall 8 of 12
Sector (Business Services) 2 of 2
Type (Growth Capital) 5 of 8
State (North Carolina) 2 of 3
Country (United States) 8 of 12
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Aerocare

Orlando, Florida, United States

Aerocare is a provider of oxygen, respiratory, sleep, and other chronic therapy services to patients in the home. AeroCare's patients typically suffer from the chronic obstructive pulmonary disease (COPD), obstructive sleep apnea (OSA), or congestive heart failure (CHF) and require in-home therapy services. Aerocare Holdings, Inc. was founded in 2000 and is based in Orlando, Florida.

Sell $2.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-12 GoodVets

Chicago, Illinois, United States

GoodVets is a veterinary care platform providing elevated pet healthcare in beautifully designed, newly built spaces for today’s pet community. GoodVets partners with entrepreneurial veterinarians who want to own and lead their own practices and redefine the veterinary care experience for their communities. GoodVets hospitals prioritize wellness, prevention, and urgent care. GoodVets was founded in 2016 and is based in Chicago, Illinois.

Buy -
Investor

Freeman Spogli

Los Angeles, California, United States

website


Category Private Equity Firm
Founded 1983
PE ASSETS 7.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Freeman Spogli & Co. is a private equity firm focused on acquiring middle-market retail, direct marketing, and distribution companies. The Firm will consider opportunities throughout North America and prefers partnering with management when pursuing acquisitions. Freeman Spogli looks to invest $75 to $300 million in transactions valued up to $750 million. Freeman Spogli was formed in 1983 and is based in Los Angeles, California with an additional office in New York City.


DEAL STATS #
Overall 45 of 48
Sector (Business Services) 5 of 6
Type (Growth Capital) 8 of 9
State (North Carolina) 4 of 4
Country (United States) 45 of 48
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-31 Green Garden Products

Norton, Massachusetts, United States

Green Garden Products LLC is a supplier of branded, consumable gardening products. Green Garden Products is a provider of seed packets and seed starter products for flower and vegetable gardens in North America, and an emerging participant in the specialty soil and plant nutrient categories. Green Garden Products was founded in 1980 and is based in Norton, Massachusetts.

Sell $532M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-30 FASTSIGNS

Carrollton, Texas, United States

FASTSIGNS is a franchisor of signage and visual graphics products and services, serving more than 650,000 businesses. The Company is 100% franchised, with more than 700 locations worldwide. FASTSIGNS locations sell a broad set of graphics-related products, including signs, custom visual communications, interior décor, architectural signage, vehicle graphics, and digital signs, and offer a variety of value-added services, including consulting, surveying, permitting, and installation. FASTSIGNS was founded in 1985 and is based in Carrollton, Texas.

Sell -