M&A Deal Summary

Morgan Stanley Capital Partners and Constitution Capital Partners Acquire EmployBridge

On May 23, 2011, private equity firms Morgan Stanley Capital Partners and Constitution Capital Partners acquired staffing company EmployBridge from Prospect Hill Growth Partners and MSouth Equity Partners for 165M USD

Acquisition Highlights
  • This is Morgan Stanley Capital Partners’ 1st and Constitution Capital Partners’ 1st transaction in the Staffing sector.
  • This is Morgan Stanley Capital Partners’ 3rd and Constitution Capital Partners’ 5th largest (disclosed) transaction.
  • This is Morgan Stanley Capital Partners’ 8th and Constitution Capital Partners’ 12th transaction in the United States.
  • This is Morgan Stanley Capital Partners’ 1st and Constitution Capital Partners’ 1st transaction in Georgia.
Investment Fate
  • EmployBridge was sold to a strategic buyer in 2015 for 410M USD.
  • EmployBridge was divested to a consortium of buyers in 2021.

M&A Deal Summary
Date 2011-05-23
Target EmployBridge
Sector Staffing
Buyer(s) Morgan Stanley Capital Partners
Constitution Capital Partners
Sellers(s) Prospect Hill Growth Partners
MSouth Equity Partners
Deal Type Secondary Buyout
Deal Value 165M USD

Target

EmployBridge

Atlanta, Georgia, United States
website
EmployBridge is a provider of specialty staffing services including three primary industry verticals: logistics, manufacturing, and transportation. Within its target industries, EmployBridge has developed service models that enable it to attract and place qualified personnel through the development of defined recruiting, testing, placement, and sales processes that are tailored to meet the needs of its target industries. EmployBridge is based in Atlanta, Georgia.

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Buyer(S) 2

Buyer

Morgan Stanley Capital Partners

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1985
Size Large
Type Sector Agnostic
DESCRIPTION

Morgan Stanley Capital Partners (MSCP) is the private investment arm of financial services firm and investment bank Morgan Stanley. MSCP looks to partner with founders looking to leverage Morgan Stanley's resources, as well as fund corporate carveouts, recapitalizations, buyouts, and industry consolidations. Areas of interest include business services, industrials, education, consumer products/services, food/beverage, retail, healthcare, and packaging. MSCP primarily targets businesses operating in North America valued between $75 and $750 million. Morgan Stanley Capital Partners is based in New York City.

DEAL STATS #
Overall 8 of 47
Sector (Staffing) 1 of 3
Type (Secondary Buyout) 2 of 16
State (Georgia) 1 of 2
Country (United States) 8 of 44
Year (2011) 1 of 3
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-08 China International Capital

Beijing, China

China International Capital Corporation is a provider of financial services in Mainland China and internationally. Its business scope includes economic, securities, and market research, debt and equity issuance and underwriting, merger and acquisition advisory, equity sales, and trading, fixed income, principal investment, asset management, wealth management, private equity, and investment advisory. China International Capital Corporation was founded in 1995 and is based in Beijing, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-11 Sterling Energy

Denver, Colorado, United States

Sterling Energy is a natural gas gathering, processing and marketing company serving oil and gas producers in the Denver-Julesburg Basin of northeast Colorado and the Williston Basin of northwest North Dakota. Sterling Energy was founded in 2000 and is based in Denver, Colorado.

Buy -
Buyer

Constitution Capital Partners

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2008
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Constitution Capital Partners is a private equity firm focused on buyouts of North American companies. Constitution typically invests in private equity partnerships, however the Firm also makes direct private equity and credit investments. Constitution Capital Partners does not have any sector preferences. The Firm was formed in 2008 and is headquartered in Andover, Massachusetts.

DEAL STATS #
Overall 14 of 25
Sector (Staffing) 1 of 2
Type (Secondary Buyout) 3 of 8
State (Georgia) 1 of 1
Country (United States) 12 of 22
Year (2011) 2 of 2
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-24 Petmate

Arlington, Texas, United States

Petmate is a supplier of a wide variety of non-food pet products to leading retailers. The Company’s diverse product line includes crates and carriers, outdoor shelters, feeding and watering, and a wide selection of innovative toys. The Company’s portfolio of branded toys and licensed products includes ChuckIt!®, JW Pet®, and Jackson Galaxy® which lead the industry in innovative interactive products. Petmate serves the market through a multi-channel approach which includes big box pet retailers, mass merchandisers, major e-commerce retailers, farm and ag stores, and specialty pet stores. Petmate was founded in 1959 and is based in Arlington, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-06 Stafford Logistic

Walker, Louisiana, United States

Stafford Logistics is a provider of outsourced waste services for large commercial waste collection businesses and waste generators.

Buy -

Seller(S) 2

SELLER

Prospect Hill Growth Partners

Waltham, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1995
PE ASSETS 2.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Prospect Hill Growth Partners is a private equity firm specializing in leveraged buyouts and recapitalizations of middle-market growth companies across the US. Prospect Hill looks for profitable businesses ($5 to $25 million of EBITDA) with annual revenues from $50 to $300 million with strong brands and leading market positions. Target sectors include consumer products, healthcare, specialty retail, and asset management. Prospect Hill Growth Partners was formerly known as J.W. Childs and changed its name in 2019. The Firm was originally formed in 1995 and is headquartered in Waltham, Massachusetts.

DEAL STATS #
Overall 10 of 20
Sector (Staffing) 1 of 2
Type (Secondary Buyout) 6 of 10
State (Georgia) 1 of 1
Country (United States) 10 of 20
Year (2011) 1 of 2
Size (of disclosed) 7 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-25 Advantage Solutions

Irvine, California, United States

Advantage Solutions is a business solutions provider committed to driving growth for consumer goods manufacturers and retailers through winning insights and execution. Advantage’s data and technology-enabled omnichannel solutions including sales, retail merchandising, business intelligence, digital commerce, and a full suite of marketing services are designed to help brands and retailers across a broad range of channels drive consumer demand, increase sales and achieve operating efficiencies. Headquartered in Irvine, California, Advantage has offices throughout the United States and Canada and a presence in select markets throughout Africa, Asia, Australia and Europe. Advantage Solutions was founded in 1987 and is based in Irvine, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-18 Mattress Firm

Houston, Texas, United States

Mattress Firm is multi-brand mattress retailer. Mattress Firm brands include Mattress Firm, Sleepy's and Sleep Train, offers a broad selection of both traditional and specialty mattresses, bedding accessories and other related products. Mattress Firm was formed in 1886 and is based in Houston, Texas.

Sell -
SELLER

MSouth Equity Partners

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1984
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

MSouth Equity Partners is a private equity firm focused on mid-sized company investments and acquisitions valued between $25 and $250 million. The Firm prefers opportunities in Southern US and looks to commit $25 to $100 million per transaction. Sectors of interest include distribution, business services, media, telecom, and specialty manufacturing. MSouth is the successor to private equity firm, Cravey, Green & Wahlen, Inc. which was founded in 1984. MSouth Equity Partners is based in Atlanta, Georgia.

DEAL STATS #
Overall 5 of 30
Sector (Staffing) 1 of 2
Type (Secondary Buyout) 3 of 12
State (Georgia) 4 of 13
Country (United States) 5 of 30
Year (2011) 1 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-02 Fischbein

Statesville, North Carolina, United States

Fischbein designs, manufactures, and distributes packaging and material handling equipment. The Company offers filling, weighing, closing, handling, palletizing equipment, and sewing and sealing equipment. Fischbein is headquartered in Statesville, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-23 United Communications

Chapel Hill, Tennessee, United States

United provides voice and data services. United provides superior broadband coverage when compared to many other rural telephone companies. United has over 13,000 access lines and a state-of-the-art network that provides services to underserved rural communities located near Nashville, TN.

Buy -
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