Going Private • Business Services

Blackstreet Capital Management Acquires Cartesian

On August 22, 2019, private equity firm Blackstreet Capital Management acquired business services company Cartesian

Acquisition Context
  • This is Blackstreet Capital Management’s 2nd transaction in the Business Services sector.
  • This is Blackstreet Capital Management’s 19th transaction in the United States.
  • This is Blackstreet Capital Management’s 2nd transaction in Massachusetts.

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M&A Deal Summary

Date August 22, 2019
Target Cartesian
Sector Business Services
Buyer(s) Blackstreet Capital Management
Deal Type Going Private

Target Company

Cartesian

Boston, Massachusetts, United States
Cartesian is a provider of strategy, management, operational and e-business consulting services to the global telecommunications industry. Cartesian was founded in 1990 and is based in Boston, Massachusetts.
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Buyer Overview 1

Buyer

Blackstreet Capital Management

Chevy Chase, Maryland, United States

Category Private Equity Firm
Founded 2003
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Blackstreet Capital is a private equity firm focused on control buyouts of under-performing corporate orphans with $25 to $150 million in revenue. Industries of interest include niche manufacturing, distribution, specialty retail, education and training, healthcare services and devices, and restaurants. Blackstreet invests up to $15 million of equity capital in businesses valued up to $75 million. Blackstreet's average holding period is three to five years. Blackstreet Capital(formerly Milestone Capital Management was founded in 2003 and is based in Bethesda, Maryland.


Deal Context for Buyer #
Overall 37 of 38
Sector: Business Services 2 of 2
Type: Going Private 1 of 1
State: Massachusetts 2 of 2
Country: United States 19 of 19
Year: 2019 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-11 Northern Brewer

Roseville, Minnesota, United States

Northern Brewer is a multi-channel marketer of home brewing supplies, winemaking supplies, beer kits, and equipment to craft brewing enthusiasts. The company sells it's products online and at 3 retail stores. Northern Brewer was founded in 1993 and is based in Roseville, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-06 Red Apple Stores

Mississauga, Ontario, Canada

Red Apple Stores operates 140 extreme value stores throughout Canada (excluding Quebec) which serve middle-income consumers in rural secondary and tertiary markets and select urban markets. Red Apple Stores is based in Mississauga, Ontario.

Buy -