M&A Deal Summary

Charlesbank Capital Partners and GI Partners Acquire ARS

On May 6, 2014, private equity firms Charlesbank Capital Partners and GI Partners acquired consumer services company ARS from CI Capital Partners, BlackRock Capital Investment and Royal Palm Capital Partners

Acquisition Highlights
  • This is Charlesbank Capital Partners’ 1st and GI Partners’ 1st transaction in the Consumer Services sector.
  • This is Charlesbank Capital Partners’ 41st and GI Partners’ 17th transaction in the United States.
  • This is Charlesbank Capital Partners’ 3rd and GI Partners’ 1st transaction in Tennessee.

M&A Deal Summary

Date 2014-05-06
Target ARS
Sector Consumer Services
Buyer(s) Charlesbank Capital Partners
GI Partners
Sellers(s) CI Capital Partners
BlackRock Capital Investment
Royal Palm Capital Partners
Deal Type Secondary Buyout
Advisor(s) Berenson & Co. LLC (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison (Legal)

Target

ARS

Memphis, Tennessee, United States
website
ARS is a provider of heating and air conditioning (HVAC) and plumbing services nationwide. ARS primarily serves homeowners in need of emergency repair and replacement services for heating, air conditioning, energy efficiency, plumbing, drain cleaning and sewer lines. It operates under two well-known national brands, ARS and Rescue Rooter, as well as through trusted local brands in select markets. ARS was founded in 1995 and is based in Memphis, Tennessee.

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Buyer(S) 2

Buyer

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 46 of 86
Sector (Consumer Services) 1 of 3
Type (Secondary Buyout) 8 of 29
State (Tennessee) 3 of 6
Country (United States) 41 of 76
Year (2014) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-19 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.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-30 The Princeton Review

Framingham, Massachusetts, United States

The Princeton Review is a proivder of test preparation and college admission services company. Every year it helps millions of college- and graduate school-bound students achieve their education and career goals through its test preparation, tutoring, and admissions services, its online resources, and its more than 150 print and digital books published by Random House LLC.

Sell -
Buyer

GI Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2001
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GI Partners (Global Innovation Partners) is a private equity firm focused on control oriented investments in asset-backed businesses and properties located throughout North America and Western Europe. GI looks to invest up to $1500 million in companies generating predictable, recurring cash flows; underperforming businesses with intrinsic value; and direct asset investments with operational complexity. Sectors of interest include energy, education, healthcare services, leisure, retail, logistics, media, entertainment, financial services, technology, and telecommunications. GI Partners was formed in 2001 and has offices in San Francisco, Greenwich, and Chicago.


DEAL STATS #
Overall 25 of 58
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 5 of 21
State (Tennessee) 1 of 1
Country (United States) 17 of 46
Year (2014) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-11 Cambian Group

London, United Kingdom

Cambian Group is a provider of specialist residential care, rehabilitation and education services for children and adults with complex needs resulting from mental illness or autistic spectrum disorders. Cambian was formed in 2003 and is based in London.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-12 Flexential

Charlotte, North Carolina, United States

Flexential is a hybrid IT infrastructure provider with a national footprint offering expertise in colocation, connectivity, cloud, and managed solutions. The company operates 40 data center facilities across 20 major domestic and international markets. Flexential serves 4,400 blue chip customers diversified across industries, geographies, and size with particular expertise in healthcare and SaaS. Flexential was founded in 2000 and is based in Charlotte, North Carolina.

Buy -

Seller(S) 3

SELLER

CI Capital Partners

New York, New York, United States

Investor Investor

website


Category Private Equity Firm
Founded 1993
Size Large
Type Sector Agnostic
DESCRIPTION

CI Capital Partners is a private equity investment firm specializing in leveraged buyouts of middle-market companies. CI Capital primarily targets investments in North America and looks to invest between $10 and $150 million of equity capital per transaction. The Firm concentrates on acquiring companies in stable industries with consolidation potential. CI has a particular interest in business services, consumer services, distribution, transportation, and healthcare Services. CI Capital Partners was founded in 1993 and is based in New York City.


DEAL STATS #
Overall 10 of 27
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 3 of 14
State (Tennessee) 1 of 1
Country (United States) 8 of 24
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-28 Transplace

Frisco, Texas, United States

Transplace is a provider of managed transportation, supply chain consulting and transportation management systems (TMS) technology solutions, as well as other intermodal, truck brokerage, and cross-border trade services. Providing manufacturers, retailers, chemical and consumer-packaged goods companies with the optimal blend of logistics technology and transportation management services, Transplace delivers integrated solutions tailored to meet customers’ in-country and cross-border supply chain needs. Transplace was founded in 2000 and is based in Frisco, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-07 Maroon Group

Avon, Ohio, United States

Maroon Group is a distributor of specialty chemicals (CASE and HI&I) and life science ingredients across North America. Founded in 1977 and based in Avon, Ohio, Maroon Group has a common infrastructure of industry-leading technology, value-added services, global sourcing and logistics network, and a commitment to Creating Customer Success.

Buy -
SELLER

BlackRock Capital Investment

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Business Development Company
Founded 2005
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

BlackRock Capital Investment is a publicly traded business development company (BDC) that provides middle-market companies with a variety of financing solutions. This includes senior and junior secured, unsecured and subordinated debt securities and loans, as well as equity. BlackRock Capital targets profitable companies with strong management and defensible market positions that may be underserved by traditional lending sources. The Firm looks to commit $10 to $50 million in businesses generating $10 to $50 million of EBITDA. BlackRock was formed in 2005 by BlackRock and Kelso & Company. The Firm has offices in New York City and Chicago.


DEAL STATS #
Overall 5 of 22
Sector (Consumer Services) 1 of 2
Type (Secondary Buyout) 1 of 11
State (Tennessee) 1 of 2
Country (United States) 5 of 21
Year (2014) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-10 Electrical Components International

Creve Coeur, Missouri, United States

Electrical Components International is a manufacturer of wire harnesses and value-added assembly services for consumer appliance and specialty-industrial applications. Electrical Components International was established in 1953 and is based in Creve Coeur, Missouri.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-29 Dynatect

New Berlin, Wisconsin, United States

Dynatect is a manufacturer of engineered, mission-critical components for the protection of equipment and people. Dynatect was founded in 1945 and is based in New Berlin, Wisconsin.

Sell $110M
DESCRIPTION

Royal Palm Capital Partners is a South Florida private investment and M&A advisory firm. The Firm's investment practice does not have any sector preferences and focuses on $5 to $20 million in established profitable companies throughout the US. Royal Palm Capital Partners was formed in 2002 and is based in Boca Raton, Florida.


DEAL STATS #
Overall 1 of 1
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Tennessee) 1 of 1
Country (United States) 1 of 1
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-01 ARS

Memphis, Tennessee, United States

ARS is a provider of heating and air conditioning (HVAC) and plumbing services nationwide. ARS primarily serves homeowners in need of emergency repair and replacement services for heating, air conditioning, energy efficiency, plumbing, drain cleaning and sewer lines. It operates under two well-known national brands, ARS and Rescue Rooter, as well as through trusted local brands in select markets. ARS was founded in 1995 and is based in Memphis, Tennessee.

Buy -