M&A Deal Summary

Greenbriar Equity Group Acquires Towne Park

On July 5, 2023, private equity firm Greenbriar Equity Group acquired business services company Towne Park from TA Associates and HarbourVest Partners

Acquisition Highlights
  • This is Greenbriar Equity Group’s 2nd transaction in the Business Services sector.
  • This is Greenbriar Equity Group’s 37th transaction in the United States.
  • This is Greenbriar Equity Group’s 1st transaction in Maryland.

M&A Deal Summary

Date 2023-07-05
Target Towne Park
Sector Business Services
Buyer(s) Greenbriar Equity Group
Sellers(s) TA Associates
HarbourVest Partners
Deal Type Secondary Buyout
Advisor(s) Goodwin Procter (Legal)

Target

Towne Park

Annapolis, Maryland, United States
Towne Park is a provider of contracted hospitality services and parking systems nationwide. Towne Park was founded in 1988 and is based in Annapolis, Maryland.

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Buyer(S) 1

Buyer

Greenbriar Equity Group

Rye, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Greenbriar Equity Group is a specialized private equity firm focused on investing in the global transportation and advanced manufacturing industries. Companies of interest include traditional carriers, such as railroads, cruise lines, airlines, air freight, shipping, and trucking, as well as ancillary manufacturers and service companies that support the transportation industry. Greenbriar will consider making majority as well as minority investments through a variety of structures, including leveraged buyouts, recapitalizations, growth capital investments, corporate joint ventures and privatizations. The Firm targets businesses valued from $100 million to $1 billion. Greenbriar Equity was formed in 1999 and is based in Rye, New York.


DEAL STATS #
Overall 42 of 45
Sector (Business Services) 2 of 3
Type (Secondary Buyout) 18 of 20
State (Maryland) 1 of 1
Country (United States) 37 of 40
Year (2023) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-16 Whitcraft

Eastford, Connecticut, United States

Whitcraft is a manufacturer of high quality, precision formed, machined and fabricated metal parts for the U.S. aerospace industry. The Company manufactures new and replacement jet engine and helicopter parts for large engine manufacturers serving both the commercial and military aircraft market. Whitcraft was founded in 1960 and is based in Eastford, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-20 VIVE Collision

New York, New York, United States

VIVE Collision is a multi-site collision repair operator providing collision repair services to customers across New York, Maine, Rhode Island and Massachusetts. VIVE Collision is based in New York City.

Buy -

Seller(S) 2

SELLER

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 252 of 255
Sector (Business Services) 12 of 12
Type (Secondary Buyout) 47 of 49
State (Maryland) 5 of 5
Country (United States) 206 of 207
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-26 Diatech Pharmacogenetics

Jesi, Italy

Diatech Pharmacogenetics is a producer and distributor of reagents and comprehensive solutions in pharmacogenetics and pharmacogenomics. The company provides customized genomics testing solutions in the oncological disease niche, aimed at optimising cancer treatment effectiveness through increased diagnosis precision. Diatech Pharmacogenetics was founded in 1998 and is based in Jesi, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-28 Indira IVF

Udaipur, India

Indira IVF is a fertility hospital serving a network spanning 116 centers across 20 states in India. The company provides Assisted Reproductive Technology services in India and completes approximately 40,000 IVF cycles annually. It has successfully supported over 125,000 couples in their journey towards achieving pregnancy. Indira IVF was founded in 1988 and is based in Udaipur, India.

Sell -
SELLER

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 125 of 129
Sector (Business Services) 7 of 7
Type (Secondary Buyout) 34 of 34
State (Maryland) 5 of 5
Country (United States) 80 of 83
Year (2023) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-30 Elatec

Puchheim, Germany

Elatec is a provider in the development and global sales of contactless (RFID, NFC, Bluetooth) and contact (SmartCard) readers/writers. Elatec modules enable the clear identification of individual users on end devices and are used across a broad range of numerous applications and solutions, such as secure printing, elevator systems, fitness devices, industrial production, kiosk, physical access, and point-of-sale systems. Elatec was founded in 1988 and is based in Puchheim, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-24 Horizon

Columbus, Ohio, United States

Horizon is a provider of advanced broadband services throughout much of Ohio and into surrounding states. Utilizing its extensive network of fiber optic cable, Horizon delivers advanced high-speed data services, Internet, voice, digital video, security, and monitoring services. Horizon was founded in 1895 and is based in Columbus, Ohio.

Sell $385M