M&A Deal Summary

Crescent Capital Group, GTCR and Geneva Glen Capital Acquire Coinmach

On July 6, 2000, mezzanine finance firm Crescent Capital Group, private equity firm GTCR and private equity firm Geneva Glen Capital acquired business services company Coinmach

Acquisition Highlights
  • This is Crescent Capital Group’s 1st, GTCR’s 5th and Geneva Glen Capital’s 1st transaction in the Business Services sector.
  • This is Crescent Capital Group’s 11th, GTCR’s 22nd and Geneva Glen Capital’s 1st transaction in the United States.
  • This is Crescent Capital Group’s 2nd, GTCR’s 2nd and Geneva Glen Capital’s 1st transaction in New York.

M&A Deal Summary

Date 2000-07-06
Target Coinmach
Sector Business Services
Buyer(s) Crescent Capital Group
GTCR
Geneva Glen Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Coinmach

Plainview, New York, United States
Coinmach Laundry Corporation operates as a supplier of outsourced laundry equipment services for multi family housing properties in the United States. It also operated as a laundromat equipment distribution company.

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Buyer(S) 3

Buyer

Crescent Capital Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1991
PE ASSETS 48.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Crescent Capital is a provider of debt securities to middle-market companies. Crescent looks to issue senior bank loans, high yield bonds, mezzanine debt and distressed debt to fund a variety of needs. The FIrm's direct lending group looks to provide $10 to $30 million to sponsor-backed companies that generate $5 to $40 million of EBITDA. Crescent's mezzanine practice typically provides junior capital to support buyouts, recapitalizations, and refinancings. Crescent Capital was formed in 1991 and was originally known as TCW/Crescent Mezzanine. The Firm has offices in Los Angeles, Boston, New York, and London.


DEAL STATS #
Overall 11 of 67
Sector: Business Services M&A 1 of 6
Type: Buyout (LBO, MBO, MBI) M&A Deals 9 of 20
State: New York M&A 2 of 4
Country: United States M&A 11 of 54
Year: 2000 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-06-23 Charles River Laboratories International

Wilmington, Massachusetts, United States

Charles River Laboratories International is a provider of essential products and contract services to help pharmaceutical and biotechnology companies, government agencies and academic institutions around the globe accelerate their research and drug development efforts. Charles River Laboratories International was incorporated in 1947 and is based in Wilmington, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-11-01 TravelCenters of America

Westlake, Ohio, United States

TravelCenters of America is a full-service travel center network operating TA, Petro Stopping Centers, and TA Express brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists. It operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet and Country Pride. TravelCenters of America was founded in 1972 and is based in Westlake, Ohio.

Buy -
Buyer

GTCR

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GTCR is a private equity firm that typically partners with management when pursuing acquisitions. The Firm looks to grow companies through build-on acquisitions, consolidations, and internal growth. GTCR will consider both equity and mezzanine capital commitments and concentrates its investment activity in consumer products & services, healthcare services, outsourced business services, technology, transaction processing, and pharma/medical products. GTCR was formed in 1980 and is based in Chicago, Illinois.


DEAL STATS #
Overall 22 of 157
Sector: Business Services M&A 5 of 17
Type: Buyout (LBO, MBO, MBI) M&A Deals 6 of 29
State: New York M&A 2 of 14
Country: United States M&A 22 of 148
Year: 2000 M&A 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-07-06 CuraScript

Orlando, Florida, United States

CuraScript is dedicated to the delivery of extraordinary care, one patient at a time. Providing affordable, high quality care for complex chronic conditions requires cooperation among many healthcare experts. CuraScript offers a broad range of services for physicians, health plan sponsors, and pharmaceutical manufacturers to support the delivery of that care.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-04-01 Select Medical

Mechanicsburg, Pennsylvania, United States

Select Medical is an operator of acute care hospitals and medical rehabilitation hospitals. Select Medical Holdings was founded in 1996 and is based in Mechanicsburg, Pennsylvania.

Sell -
Buyer

Geneva Glen Capital

Chicago, Illinois, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2008
Size Small
Type Sector Agnostic
DESCRIPTION

Geneva Glen Capital is a private equity firm that invests in lower middle-market companies. The Firm partners with management when pursuing private companies with leading market positions, significant growth potential, and stable cash flows. Target businesses are located in the US or Canada and have $2 to $20 million of EBITDA. Sectors of interest include business/consumer services, consumer products, environmental services, education, healthcare, niche manufacturing, publishing, chemicals, insurance, and value-added distribution. Geneva Glen will not invest in high technology, retail, restaurants, real estate, or early-stage companies. Geneva Glen Capital was formed in 2008 and is based in Chicago, Illinois.


DEAL STATS #
Overall 1 of 15
Sector: Business Services M&A 1 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 6
State: New York M&A 1 of 1
Country: United States M&A 1 of 15
Year: 2000 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-03-01 AIR-serv Group

Mendota Heights, Minnesota, United States

AIR-serv Group LLC is an operator of freestanding coin-operated tire-inflation and vacuum vending machines. AIR-Serv owns and operates over 32,000 air vending machines, and maintains exclusive contracts for the provision of air vending services with over 90 major national gas station and convenience stores chains.

Buy -