Secondary Buyout • Business Services

AEA Investors Acquires CLS Management Services

On June 29, 2020, private equity firm AEA Investors acquired business services company CLS Management Services from GFI Energy Ventures

Acquisition Context
  • This is AEA Investors’ 5th transaction in the Business Services sector.
  • This is AEA Investors’ 83rd transaction in the United States.
  • This is AEA Investors’ 12th transaction in Texas.

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M&A Deal Summary

Date June 29, 2020
Target CLS Management Services
Sector Business Services
Buyer(s) AEA Investors
Sellers(s) GFI Energy Ventures
Deal Type Secondary Buyout

Target Company

CLS Management Services

Sugar Land, Texas, United States
CLS Management Services is an independent provider of the right of way and land management consulting services in the U.S. The Company provides a comprehensive suite of land management services including project management, right of way acquisition, training, staffing, and related field services to both public and private sector clients in the utility, public infrastructure, and energy end-markets. CLS Management Services was founded in 1985 and is based in Sugar Land, Texas.
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Buyer Overview 1

Buyer

AEA Investors

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

AEA Investors is a private investment firm focused on investing in and acquiring businesses headquartered primarily in the US, Europe, and China. AEA looks for companies operating in stable to growing industries with a proven ability to generate positive cash-flow. Broad sectors of interest include value-added industrial products/services, specialty chemicals, consumer products, and services. In addition to its primary middle-market private equity fund, AEA maintains additional funds targeted towards mezzanine financing, senior secured debt, and small business buyouts. AEA Investors was formed in 1968 and is based in New York City.


Deal Context for Buyer #
Overall 95 of 121
Sector: Business Services 5 of 7
Type: Secondary Buyout 43 of 57
State: Texas 12 of 13
Country: United States 83 of 106
Year: 2020 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-15 24 Hour Fitness

San Ramon, California, United States

24 Hour Fitness is a health club provider, involved in helping members change their lives and reach their individual fitness goals. 24 Hour Fitness offers fitness solutions for everyone including personal training services, group exercise classes and strength, cardio and functional training equipment.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-23 1-800 Contacts

Draper, Utah, United States

1-800 Contacts is a direct-to-consumer independent retailer of contact lenses. The Company also provides contact lens sourcing and fulfillment services to leading brick-and-mortar retailers. 1-800 Contacts was formed in 1995 and is based in Draper, Utah.

Sell -

Seller Profile 1

SELLER

GFI Energy Ventures

Los Angeles, California, United States

Category Private Equity Firm
Founded 1995
PE ASSETS 1.8B USD
Size Large
Type Sector Focused
DESCRIPTION

GFI Energy Ventures is a specialist private investment firm focused on businesses surrounding the energy industry. GFI generally looks to acquire a controlling or significant interest in private companies or business units of public companies. Energy sub-sectors of interest include power quality/power conversion; energy measurement and control; transmission and distribution optimization; and information systems/transaction support. GFI seeks opportunities with at least $50 million in revenue and valued up to $500 million. The Firm will not invest in start-ups, turnarounds, unproven technology, or investments requiring less than $30 million of equity capital. GFI Energy Ventures was formed in 1995 and is based in Los Angeles, California. GFI Energy Ventures was acquired by Oaktree Capital Management in 2009.


Deal Context for Seller #
Overall 29 of 30
Sector: Business Services 5 of 5
Type: Secondary Buyout 4 of 4
State: Texas 5 of 6
Country: United States 27 of 28
Year: 2020 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-15 KDB

Rockville, Maryland, United States

KDB is a construction and engineering company, that offers engineering and design, fabrication, construction, commissioning and service. KDB comprised of full-service specialty contracting companies capable of performing any type of commercial, industrial and governmental construction and renovation projects. KDB was founded in 1960 and is based in Rockville, Maryland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-27 RECON

Houston, Texas, United States

RECON is a private sector environmental remediation and geotechnical construction services company. RECON’s environmental remediation service offering includes: soil treatment, groundwater services, sludge solidification, cap and cell construction and hazardous demolition. The company also performs geotechnical construction services (modifying soil and controlling groundwater). RECON has performed over 2,000 projects throughout its 21-year history and has long histories with international oil and industrial companies as well as major engineering, procurement and construction companies.

Sell -