M&A Deal Summary

Iron Creek Partners and Main Street Capital Acquire Verified Credentials

On December 3, 2021, private equity firms Iron Creek Partners and Main Street Capital acquired staffing company Verified Credentials

Acquisition Highlights
  • This is Iron Creek Partners’ 3rd and Main Street Capital’s 3rd transaction in the Staffing sector.
  • This is Iron Creek Partners’ 9th and Main Street Capital’s 123rd transaction in the United States.
  • This is Iron Creek Partners’ 1st and Main Street Capital’s 2nd transaction in Minnesota.

M&A Deal Summary

Date 2021-12-03
Target Verified Credentials
Sector Staffing
Buyer(s) Iron Creek Partners
Main Street Capital
Deal Type Recapitalization

Target

Verified Credentials

Lakeville, Minnesota, United States
Verified Credentials is a provider of background screening solutions for businesses and individuals. Verified has thousands of customers across the healthcare, education, hospitality, staffing, construction, government services, financial, and security industries. Verified Credentials was founded in 1984 and headquartered in Lakeville, Minnesota.

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Buyer(S) 2

Buyer

Iron Creek Partners

Investor


Category Private Equity Firm
Founded 2009
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
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 9 of 11
Sector (Staffing) 3 of 3
Type (Recapitalization) 5 of 6
State (Minnesota) 1 of 1
Country (United States) 9 of 11
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-03 Credential Check

Troy, Michigan, United States

Credential Check is a provider of employment background screening and drug testing services to employers across the country. CredentialCheck has thousands of customers across the finance, manufacturing, food and retail, healthcare, and staffing industries. Credential Check was founded in 1984 and is based in Troy, Michigan.

Buy -
FOLLOWING 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 -
Buyer

Main Street Capital

Houston, Texas, United States

Investor Investor Investor Investor Investor


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 123 of 137
Sector (Staffing) 3 of 3
Type (Recapitalization) 48 of 56
State (Minnesota) 2 of 2
Country (United States) 123 of 137
Year (2021) 10 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-04 Flame King

Pico Rivera, California, United States

Flame King is a supplier of propane storage solutions and accessories. The Company sells its products to recreational consumers indirectly through retailers, propane tank exchangers, RV OEMs and directly to consumers through eCommerce platforms. Flame King was founded in 1998 and headquartered in Pico Rivera, California.

Buy $32M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-07 Valley Vet

Marysville, Kansas, United States

Valley Vet provides customers with animal health solutions. Valley Vet Supply serves equine, livestock and pet owners with thousands of medications, vaccines and quality products through its e-commerce website, catalog circulation program, phone sales department and brick & mortar retail store. Valley Vet was founded in 1985 and is based in Marysville, Kansas.

Buy $42M