M&A Deal Summary

First Reserve Management Acquires CHA Consulting

On April 10, 2018, private equity firm First Reserve Management acquired business services company CHA Consulting from Long Point Capital

Acquisition Highlights
  • This is First Reserve Management’s 3rd transaction in the Business Services sector.
  • This is First Reserve Management’s 65th transaction in the United States.
  • This is First Reserve Management’s 1st transaction in New York.

M&A Deal Summary

Date 2018-04-10
Target CHA Consulting
Sector Business Services
Buyer(s) First Reserve Management
Sellers(s) Long Point Capital
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)

Target

CHA Consulting

Albany, New York, United States
website
CHA Consulting, Inc. is a highly diversified, full-service engineering consulting firm providing a wide range of technology-enhanced planning and design services to public, private and institutional clients. CHA was ranked the 36th largest design firm in the United States in 2017 by Engineering News Record and has annual revenue of $290 million. With technical personnel and offices throughout the United States and Canada, CHA offers engineering, architectural, survey, construction, and other services necessary to complete projects on time and within budget.

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Buyer(S) 1

DESCRIPTION

First Reserve Corporation is a specialist private equity firm focused on investments in energy companies. First Reserve targets equity investments of $50 to $500 million in companies valued from $100 million to $10 billion. Target areas of interest within the energy industry include energy manufacturing and services (drilling service providers and wellhead equipment manufacturers), energy infrastructure, energy reserves, renewable energy and alternative fuels, and energy related insurance and financial products. First Reserve was established in 1983 and has offices in Greenwich, Connecticut; Houston, Texas; and London.


DEAL STATS #
Overall 99 of 108
Sector (Business Services) 3 of 3
Type (Secondary Buyout) 10 of 10
State (New York) 1 of 1
Country (United States) 65 of 71
Year (2018) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-02 PetroShale

Calgary, Alberta, Canada

PetroShale, Inc. is an oil company engaged in the acquisition, development, and consolidation of interests in the North Dakota Bakken / Three Forks.

Buy $75M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-18 M Group Services

Hertfordshire, United Kingdom

M Group Services is a service provider to the regulated infrastructure markets in the UK and Ireland through its utilities, transport, telecom, and data divisions. The Company operates through its subsidiaries that include Morrison Utility Services, Morrison Data Services, Dyer & Butler, Magdalene, PMP Utilities and M Group Services Plant & Fleet Solutions. M Group Services was formed in 1847 and is based in Hertfordshire, England.

Sell -

Seller(S) 1

SELLER

Long Point Capital

Royal Oak, Michigan, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
PE ASSETS 315M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Long Point Capital is a private equity firm that targets investments in mid-sized North American companies where current management looks to continue on with the business. Sectors of interest include manufacturing, distribution, and services. Long Point prefers to be the lead investor and looks for businesses generating sales of $30 to $200 million and EBITDA of at least $5 million. Prospective transaction types include recapitalizations, growth equity investments, industry consolidations, generational ownership changes, and management buyouts. Long Point was formed in 1998 and is based in Royal Oak, Michigan with an additional office in New York City.


DEAL STATS #
Overall 19 of 21
Sector (Business Services) 2 of 2
Type (Secondary Buyout) 9 of 11
State (New York) 3 of 3
Country (United States) 18 of 20
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-06 Woolpert

Dayton, Ohio, United States

Woolpert, Inc. is an international architecture, engineering, and geospatial (AEG) firm that delivers value to clients by strategically blending engineering excellence with leading-edge technology and geospatial applications. Woolpert was founded in 1911 and is based in Dayton, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-13 CentriLogic

Mississauga, Ontario, Canada

CentriLogic is a provider of managed hosting, cloud computing, and advanced IT outsourcing solutions. CentriLogic was founded in 2007 and is based in Mississauga, Ontario.

Buy -