Investment Summary

Versa Capital Management and Kohlberg & Company Invest In SP Plus

On October 2, 2012, distressed investor Versa Capital Management and private equity firm Kohlberg & Company invested in consumer services company SP Plus

Investment Highlights
  • This is Versa Capital Management’s 3rd and Kohlberg & Company’s 2nd transaction in the Consumer Services sector.
  • This is Versa Capital Management’s 17th and Kohlberg & Company’s 41st transaction in the United States.
  • This is Versa Capital Management’s 3rd and Kohlberg & Company’s 2nd transaction in Illinois.
Investment Fate
  • SP Plus was sold to a strategic buyer in 2023 for 1.5B USD.

Investment Summary

Date 2012-10-02
Target SP Plus
Sector Consumer Services
Investor(s) Versa Capital Management
Kohlberg & Company
Deal Type Stake Purchase

Target

SP Plus

Chicago, Illinois, United States
SP Plus is a provider of parking facility management services. The company provides on-site management services at multi-level and surface parking facilities for all major markets of the parking industry. SP Plus was founded in 1929 and is based in Chicago, Illinois.

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Investor(S) 2

Investor

Versa Capital Management

Philadelphia, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Distressed Investor
Founded 2004
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Versa Capital Management is a private equity firm focused on investing in complex or distressed situations. Versa will consider businesses headquartered in North America and valued between $100 million and $1 billion. Prospective investment situations include buyouts, divestitures, recapitalizations, restructurings/turnarounds, take privates, rescue financings, and liquidations. Versa Capital Management is headquartered in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 19 of 28
Sector: Consumer Services M&A 3 of 3
Type: Stake Purchase M&A Deals 2 of 2
State: Illinois M&A 3 of 3
Country: United States M&A 17 of 26
Year: 2012 M&A 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-02 Central Parking

Nashville, Tennessee, United States

Central Parking Corp. is a provider of parking services. Central Parking owns, operates and manages multi-level parking facilities and surface lots, and provides parking-related services, including valet, parking meter collection and enforcements, shuttle bus operations, billing services and parking consulting.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-26 Eastern Mountain Sports

Meriden, Connecticut, United States

Eastern Mountain Sports helps people of all ages and abilities have more fun outside as a trusted source of top-quality outdoor gear, apparel, and advice. EMS offers consumers a compelling product portfolio consisting of EMS branded products and leading outdoor and active brands such as The North Face, Oboz, Thule, and Columbia. The retailer operates more than 20 locations in seven U.S. northeastern states and has a robust e-commerce platform. Eastern Mountain Sports was formed in 1967 and is based in Meriden, Connecticut.

Buy -
Investor

Kohlberg & Company

Mount Kisco, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kohlberg & Company is a private equity firm which acquires middle-market companies with consistent cash flow, and underperforming companies with operational deficiencies. Kohlberg looks to commit $100 to $500 million of equity capital in opportunities valued from $200 million to $2 billion. Kohlberg generally looks for opportunities in the manufacturing and service sectors, however the Firm will also selectively consider businesses in food and healthcare. Kohlberg tends not to consider technology or communications companies. Kohlberg & Company was formed in 1987 and has offices in Mt. Kisco, New York.


DEAL STATS #
Overall 42 of 82
Sector: Consumer Services M&A 2 of 3
Type: Stake Purchase M&A Deals 7 of 7
State: Illinois M&A 2 of 4
Country: United States M&A 41 of 81
Year: 2012 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-02 Central Parking

Nashville, Tennessee, United States

Central Parking Corp. is a provider of parking services. Central Parking owns, operates and manages multi-level parking facilities and surface lots, and provides parking-related services, including valet, parking meter collection and enforcements, shuttle bus operations, billing services and parking consulting.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-17 Centerplate

Stamford, Connecticut, United States

Centerplate, Inc. is a provider of live event hospitality, "Making It Better To Be There®" for more than 116 million guests each year at prominent entertainment, sports and convention venues across North America, Europe and the United Kingdom. Centerplate has provided event hospitality services to 36 official U.S. Presidential Inaugural Balls, 14 Super Bowls and 22 World Series

Sell $551M