Buyout (LBO, MBO, MBI) • Business Services

Diamond State Ventures and Aavin Equity Advisors Acquire Weeks Service

On March 1, 2017, growth capital firm Diamond State Ventures and private equity firm Aavin Equity Advisors acquired business services company Weeks Service

Acquisition Context
  • This is Diamond State Ventures’ 2nd and Aavin Equity Advisors’ 2nd transaction in the Business Services sector.
  • This is Diamond State Ventures’ 24th and Aavin Equity Advisors’ 13th transaction in the United States.
  • This is Diamond State Ventures’ 3rd and Aavin Equity Advisors’ 3rd transaction in Texas.
Investment Fate
  • Weeks Service was sold to a strategic buyer in 2023.

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M&A Deal Summary

Date March 1, 2017
Target Weeks Service
Sector Business Services
Buyer(s) Diamond State Ventures
Aavin Equity Advisors
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Weeks Service

League City, Texas, United States
Weeks Service offers installation, service, and maintenance for heating and air conditioning systems in addition to electrical and generator service, replacement and maintenance. Weeks Service was founded in 1972 and is based in League City, Texas.
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Buyers Overview 2

Buyer

Diamond State Ventures

Little Rock, Arkansas, United States

Investor


Category Growth Capital Firm
Founded 1999
PE ASSETS 125M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Diamond State Ventures (DSV) is a private equity and venture capital firm focused on small and lower middle-market company investments in Arkansas, as well as the Midwest and Southeast US. DSV looks to commit $1 to $5 million per investment, which can take the form of subordinated debt, preferred equity or a combination of the two. Prospective transaction situations include growth capital financings, management buyouts, family successions, recapitalizations, and early stage investments. Sectors of interest include niche manufacturing, business services, media, consumer products and services, education, healthcare, and technology. DSV will not invest in seed or startup companies. Diamond State Ventures is based in Little Rock.


Deal Context for Buyer #
Overall 24 of 24
Sector: Business Services 2 of 2
Type: Buyout (LBO, MBO, MBI) 18 of 18
State: Texas 3 of 3
Country: United States 24 of 24
Year: 2017 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-01 Standard Precast

Jacksonville, Florida, United States

Standard Precast is a manufacturer of precast concrete products for storm drainage, sanitation, and other underground infrastructure applications. Standard Precast was founded in 1965 and is based in Jacksonville, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-31 Arkansas Automatic Sprinklers

Cabot, Arizona, United States

Arkansas Automatic Sprinklers designs, manufactures, installs, maintains, and inspects fire protection equipment for hospitals, warehouses, schools, nursing homes, office buildings, penitentiaries, high rise buildings, and institutions in the United States. Arkansas Automatic Sprinklers was founded in 1984 and is based in Cabot, Arizona.

Sell -
Buyer

Aavin Equity Advisors

Cedar Rapids, Iowa, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 275M USD
Size Small
Type Sector Agnostic
DESCRIPTION

AAVIN Private Equity is a private investment firm that targets investments in smaller companies at all stages of development from early stage to later stage/buyouts. AAVIN typically looks for opportunities located in the Midwest and typically commits $1 to $5 million of capital per transaction. Sectors of interest include medical services & devices, telecommunications, manufacturing & distribution, industrial products & services and computer & software. AAVIN was formed in 1999 and is based in Cedar Rapids, Iowa.


Deal Context for Buyer #
Overall 13 of 29
Sector: Business Services 2 of 3
Type: Buyout (LBO, MBO, MBI) 7 of 21
State: Texas 3 of 4
Country: United States 13 of 29
Year: 2017 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-01 Standard Precast

Jacksonville, Florida, United States

Standard Precast is a manufacturer of precast concrete products for storm drainage, sanitation, and other underground infrastructure applications. Standard Precast was founded in 1965 and is based in Jacksonville, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-25 Green Diamond Performance Materials

Riddle, Oregon, United States

Green Diamond Performance Materials is a manufacturer of industrial minerals. Green Diamond Performance Materials processes and sells a 40+ product array of environmentally friendly, inert material made from a proprietary mineral reserve the only substantial reserve of laterite nickel smelter materials. Green Diamond Performance Materials was founded in 1961 and is based in Riddle, Oregon.

Buy -