M&A Deal Summary

Main Street Capital and Iron Creek Partners Acquire Career Team

On January 5, 2022, private equity firms Main Street Capital and Iron Creek Partners acquired business services company Career Team for 25M USD

Acquisition Highlights
  • This is Main Street Capital’s 16th and Iron Creek Partners’ 1st transaction in the Business Services sector.
  • This is Main Street Capital’s 12th and Iron Creek Partners’ largest (disclosed) transaction.
  • This is Main Street Capital’s 126th and Iron Creek Partners’ 10th transaction in the United States.
  • This is Main Street Capital’s 3rd and Iron Creek Partners’ 1st transaction in Connecticut.

M&A Deal Summary

Date 2022-01-05
Target Career Team
Sector Business Services
Buyer(s) Main Street Capital
Iron Creek Partners
Deal Type Recapitalization
Deal Value 25M USD

Target

Career Team

North Haven, Connecticut, United States
website
Career Team is a provider of workforce development services and learning and case management software solutions to regional workforce development boards, federally and state-funded work programs, and higher learning institutions across the country. Career Team was founded in 1996 and North Haven, Connecticut.

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Buyer(S) 2

Buyer

Main Street Capital

Houston, Texas, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1997
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Main Street Capital Holdings is a public investment firm that invests in mid-market companies to support ownership transitions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives. Main Street looks for businesses opearting in basic industries with positive cash-flow and and defensible competitive advantages. Main Street generally invests $5 to $75 million in companies with $10 to $150 million of revenue and EBITDA of $3 to $20 million. Investments are usually in the form of term debt and/or direct equity. Main Street Capital Corporation was formed in 1997 and is based in Houston, Texas.


DEAL STATS #
Overall 126 of 136
Sector (Business Services) 16 of 17
Type (Recapitalization) 50 of 56
State (Connecticut) 3 of 3
Country (United States) 126 of 136
Year (2022) 1 of 7
Size (of disclosed) 12 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-16 Johnson Downie

Houston, Texas, United States

Johnson Downie is a retained search firm that specializes in placing lateral partners and groups at the most prestigious law firms in the world. Johnson Downie was founded in 2006 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-13 Robbins Brothers

Azusa, California, United States

Robbins Brothers operates retail jewelry stores in California, Texas, Washington, Arizona, and online, primarily in the bridal segment. The company provides extensive product education, exceptional quality and value and steadfast commitment to its customers. Robbins Brothers was founded in 1921 and is based in Azusa, California.

Buy -
DESCRIPTION

Iron Creek Partners is a private investment partnership focused on partnering with management teams to pursue divestitures, fundless sponsor acquisitions, and select public market investments. Iron Creek Partners was formed in 2009 and is headquartered in Santa Fe, New Mexico.


DEAL STATS #
Overall 10 of 10
Sector (Business Services) 1 of 1
Type (Recapitalization) 6 of 6
State (Connecticut) 1 of 1
Country (United States) 10 of 10
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-13 CAI

Smithfield, Rhode Island, United States

CAI is a provider of specialized enterprise resource planning (ERP) software with industry expertise in several industry sectors, including seafood and other food processing and distribution, lumber and building materials, precious metal refining, and jewelry manufacturing. CAI was founded in 1977 and is based in Smithfield, Rhode Island.

Sell -