Carousel Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Carousel Capital has acquired 6 companies. It has also invested in 1 other.

Carousel Capital’s most common sectors for investment areconsumer services (13%) and software (10%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (46%) and recapitalization (28%). In total, Carousel Capital has invested in 8 US states.

In the last 3 years, Carousel Capital has exited 4 companies. The Firm’s most common exit type is secondary buyout (58%). Carousel Capital’s largest (disclosed) exit occurred in 2015 when it sold Nestor Sales for $39M.

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M&A Summary

  • M&A Total Activity52
    • M&A Buy Activity33
    • M&A Sell Activity19
  • Total Sectors Invested 20
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 19
  • M&A Advisors 7

Carousel Capital

201 N Tryon Street Suite 2450,
Charlotte, North Carolina 28202
United States
(704) 372-2040
www.carouselcapital.com
info@carouselcapital.com

Carousel Capital is a private investment group that invests in companies headquartered in the Southeast US. The Firm targets leveraged buyouts and recapitalizations of businesses in consumer products/services, business services, and healthcare services. Carousel will consider both the majority and minority situations. Prospective companies are generally valued up to $250 million and have at least $3 million of EBITDA. Carousel Capital was formed in 1996 and is based in Charlotte, North Carolina.


Investment Criteria

Sectors of Interest: Business Services, Consumer Services, Healthcare Services

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Recapitalization, Secondary Buyout

Geographic Preferences: South US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 3 -
Investment Size - -
Enterprise Value - 250
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (1.6/yr) # 25 1 3 2 2 - 33
Sell (1.0/yr) # 14 1 2 - 2 - 19
vol $39M $39M
  52

Most Recent M&A

Company Date Value Type
Consolidated Claims Group LLC 2021-12-20 - Add-on Acquisition
Charlotte, North Carolina · www.ccgiq.com
Pegasus Transtech LLC 2021-12-14 - Growth Capital
Tampa, Florida · www.transflo.com
Legacy Data Access LLC 2021-07-20 - Recapitalization
Charlotte, North Carolina · www.legacydataaccess.com
The Advantage Software Co. 2021-01-19 - Add-on Acquisition
Mooresville, North Carolina · www.gotoadvantage.com
Ethos Risk Services, Inc. 2020-11-20 - Recapitalization
St. Petersburg, Florida · www.ethosrisk.com
Landscape Workshop, Inc. 2020-09-22 - Recapitalization
Birmingham, Alabama · www.landscapeworkshop.com
Pye-Barker Fire & Safety LLC 2019-11-26 - Secondary Buyout
Alpharetta, Georgia · www.pyebarkerfire.com
Joe Hudson's Collision Center 2019-08-22 - Secondary Buyout
Montgomery, Alabama · www.jhcc.com
Armstrong Transport Group LLC 2019-06-18 - Recapitalization
Charlotte, North Carolina · www.armstrongtransport.com
Palmetto Infusion Services LLC 2019-04-16 - Divestiture
West Columbia, South Carolina · www.palmettoinfusion.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Consumer Services - - 4 (12%) -
Business Services 2 (20%) - 3 (9%) -
Healthcare Services 1 (10%) - 3 (9%) -
Software 2 (20%) - 3 (9%) -
Building Materials - - 2 (6%) -
Environmental 1 (10%) - 2 (6%) -
Franchising - - 2 (6%) -
Information Technology 1 (10%) - 2 (6%) -
Automotive - - 1 (3%) -
Consumer Products - - 1 (3%) -
Distribution - - 1 (3%) -
Electrical Equipment - - 1 (3%) -
Information Services - - 1 (3%) -
Internet Software and Services 1 (10%) - 1 (3%) -
Machinery 1 (10%) - 1 (3%) -
Medical Products - - 1 (3%) -
Packaging - - 1 (3%) -
Publishing - - 1 (3%) -
Safety/Security - - 1 (3%) -
Transportation 1 (10%) - 1 (3%) -
Total 10 - 33 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 10 (100%) - 33 (100%) -
  North Carolina 4 (40%) - 11 (33%) -
  Alabama 2 (20%) - 6 (18%) -
  Florida 3 (30%) - 5 (15%) -
  South Carolina 1 (10%) - 5 (15%) -
  Virginia - - 2 (6%) -
  Georgia - - 2 (6%) -
  Texas - - 1 (3%) -
  Kentucky - - 1 (3%) -
Total 10 - 33 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) - - 15 (45%) -
Recapitalization 6 (60%) - 9 (27%) -
Secondary Buyout 2 (20%) - 6 (18%) -
Divestiture 1 (10%) - 1 (3%) -
Going Private - - 1 (3%) -
Growth Capital 1 (10%) - 1 (3%) -
Total 10 - 33 -

Exits by Deal Type

Type Total # Value
Secondary Sale 11 (58%) -
Trade Sale - Public Company 3 (16%) 39M (100%)
Trade Sale 3 (16%) -
Unknown 2 (11%) -
Total 19 $39M

Top M&A Advisors

Financial Deals
Harris Williams & Co.
 2
Fidus Partners LLC
 1
Sagent Advisors LLC
 1
Legal Deals
K&L Gates LLP
 10
Bradley Arant Boult Cummings LLP
 1
Culp Elliott & Carpenter P.L.L.C.
 1

Deal Values

sell # Total
< $100M 1 $39M
TOTAL $39M
Largest Nestor Sales LLC
$39M (2015-08-03)

M&A Connections

Deals
Acquired from
Investor(s)
18%
6 (18%)
Strategic(s)
3%
1 (3%)
Exited to
Investor(s)
58%
11 (58%)
Strategic(s)
32%
6 (32%)

Investor Summary

Investor Type

Private Equity Firm

Size

Large

PE Assets

1.3B USD

Established

1996

Specialist/Generalist

Generalist

Leadership

Nelson Schwab III

Co-Founder & Senior Advisor

Charles Grigg

Managing Partner

Jason Schmidly

Managing Partner

Alan Welch Jr

Partner

Peter Clark Jr.

Partner

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