M&A Deal Summary

The Carlyle Group Acquires United Road Services

On September 5, 2017, private equity firm The Carlyle Group acquired transportation company United Road Services from Charlesbank Capital Partners, Post Capital Partners and TRP Capital Partners

Acquisition Highlights
  • This is The Carlyle Group’s 15th transaction in the Transportation sector.
  • This is The Carlyle Group’s 290th transaction in the United States.
  • This is The Carlyle Group’s 6th transaction in Michigan.

M&A Deal Summary

Date 2017-09-05
Target United Road Services
Sector Transportation
Buyer(s) The Carlyle Group
Sellers(s) Charlesbank Capital Partners
Post Capital Partners
TRP Capital Partners
Deal Type Secondary Buyout
Advisor(s) RBC Capital Markets (Financial)

Target

United Road Services

Romulus, Michigan, United States
website
United Road Services is a provider of vehicle transport and logistics in North America. United Road serves 10,000-plus diverse customers including manufacturers, retailers, finance and leasing companies, rental agencies, auctions, web-based logistics firms and individuals transporting millions of new, remarketed and specialty vehicles annually.

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Buyer(S) 1

Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 376.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 595 of 695
Sector (Transportation) 15 of 16
Type (Secondary Buyout) 87 of 125
State (Michigan) 6 of 6
Country (United States) 290 of 336
Year (2017) 18 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-01 Thomas Scientific

Swedesboro, New Jersey, United States

Thomas Scientific is a distributor of laboratory products and equipment used by the scientific and research community. Products include laboratory equipment, consumables, chemicals, and safety products. Thomas Scientific was founded in 1900 and is based in Swedesboro, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-06 Prima Solutions

Paris, France

Prima Solutions is a software vendor that designs, develops and markets software exclusively for insurance providers. Prima Solutions offers modular digital applications to help insurance companies optimize customer relations and insurance policy management.

Buy -

Seller(S) 3

SELLER

Charlesbank Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Charlesbank Capital Partners is a private equity firm focused on investing in companies at various stages of development, including private and public companies, distressed situations, as well as later stage high growth businesses. Charlesbank typically invests $50 to $150 million per deal, in companies valued between $150 million and $3 billion. Industries of interest include consumer products, distribution, energy, financial services, food, education, health-care products and services, manufacturing, media and communications, and retail. Charlesbank Capital Partners is based in Boston, Massachusetts with an additional office in New York City.


DEAL STATS #
Overall 38 of 49
Sector (Transportation) 1 of 1
Type (Secondary Buyout) 11 of 15
State (Michigan) 1 of 1
Country (United States) 34 of 45
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-01 Tecomet

Wilmington, Massachusetts, United States

Tecomet is a contract manufacturer of precision-engineered medical devices and components for the orthopedic, cardiovascular, medical imaging and aerospace markets. The company manufactures orthopedic implants as well as trauma and cranio-maxillofacial products for medical device customers (accounting for 70% of revenue). Tecomet also makes aerospace and industrial products, including components for satellites and infrared applications. Tecomet was founded in 1964 and is based in Wilmington, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-01 Galls

Lexington, Kentucky, United States

Galls is a distributor of uniforms and equipment to the public safety market. Galls represents the largest distributor of uniform and equipment to public safety personnel, including police, fire, EMS, private security, corrections, federal/military, and postal. Galls services customers through a national catalogue, convenient eCommerce site, more than 50 dedicated sales reps, 80 locations, and its proprietary "eQuip" online solution serving state and local agencies. Each year, more than one million men and women in the public safety, postal and public transportation industries depend on Galls for their essential equipment and apparel. Galls was founded in 1967 and is based in Lexington, Kentucky.

Buy -
SELLER

Post Capital Partners

New York, New York, United States

Investor

website


Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Post Capital Partners is a private investment firm that targets smaller middle-market businesses in traditional, basic industries. Prospective companies generally have revenues of $10 to $150 million and $2 to $20 million of EBITDA. Preferred company criteria include businesses with recurring or repeat revenue models, strong brand recognition, and minimal capital requirements. Sectors of interest include business services, financial / insurance services, consumer products and services, healthcare services, media, publishing, niche manufacturing, industrial, transportation and logistics. Post only considers companies headquartered in North America. Post Capital Partners is based in New York City.


DEAL STATS #
Overall 6 of 8
Sector (Transportation) 1 of 1
Type (Secondary Buyout) 2 of 4
State (Michigan) 1 of 1
Country (United States) 6 of 7
Year (2017) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-17 BHS Specialty Chemicals

Salt Lake City, Utah, United States

BHS Specialty Chemicals LLC (formerly BHS Marketing LLC) is a manufacturer, blender and distributor of specialty chemicals with facilities in Salt Lake City, UT, Nampa, ID and Fort Lupton, CO. BHS primarily serves the food processing and water treatment industries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-25 iShared.com

Tampa, Florida, United States

iShared.com is a third-party logistics & asset-light transportation services provider. The Company’s comprehensive brokerage servicing offering spans nationwide, across multiple modes of transportation, including Load-to-Ride (“LTR”), Less-than-Truckload (“LTL”), truckload, and rail/intermodal brokerage. iShared.com was founded in 1980 and is based in Tampa, Florida.

Buy -
SELLER

TRP Capital Partners

Birmingham, Michigan, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1997
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

TRP Capital Partners is a private investment firm focused on opportunities within the transportation industry. Specific areas of interest include auto dealerships, education/training, outsourced services, niche manufacturing, environmental, and distribution/logistics. The Firm prefers to control situations and targets companies valued from $25 to $250 million. TRP Capital Partners was formed in 1997 and is based in Birmingham, Michigan.


DEAL STATS #
Overall 8 of 12
Sector (Transportation) 2 of 3
Type (Secondary Buyout) 2 of 2
State (Michigan) 1 of 1
Country (United States) 8 of 11
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 QLS

Hendersonville, Tennessee, United States

QLS provides quality control, parts inspection & repair, and on-site representation for suppliers to manufacturing plants throughout North America. QLS was founded in 2004 and is based in Hendersonville, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-19 CarLotz

Richmond, Virginia, United States

CarLotz is a used vehicle consignment and retail remarketing business that enables consumers and corporations to make the most money possible when selling their vehicles. For a flat-fee, CarLotz will prepare the vehicle for sale, market it nationwide, manage buyer questions and conduct test drives from its retail stores, negotiate a deal on the seller’s behalf, and ultimately cut them a check when the vehicle sells. CarLotz was founded in 2011 and is based in Richmond, Virginia.

Buy -