M&A Deal Summary

New Mountain Capital Acquires Inframark

On December 21, 2020, private equity firm New Mountain Capital acquired infrastructure company Inframark LLC from Alston Capital Partners, LLC and PPC Enterprises LLC (Public Pension Capital)

Acquisition Highlights
  • This is New Mountain Capital’s 1st transaction in the Infrastructure sector.
  • This is New Mountain Capital’s 66th transaction in the United States.
  • This is New Mountain Capital’s 3rd transaction in Texas.

M&A Deal Summary

Date 2020-12-21
Target Inframark LLC
Sector Infrastructure
Buyer(s) New Mountain Capital
Sellers(s) Alston Capital Partners, LLC
PPC Enterprises LLC (Public Pension Capital)
Deal Type Secondary Buyout
Advisor(s) Harris Williams & Co. (Financial)

Target

Inframark LLC

Katy, Texas, United States
website
Inframark is an infrastructure services company focused on the operation and maintenance of water and wastewater systems, management of community infrastructure, and back-office services. With more than 40 years of experience in managing water-related infrastructure, the company employs in excess of 1,500 people serving more than 400 clients in 19 states. Its North American operations manage facilities that can treat over 900 million gallons of drinking water and wastewater daily. It also manages more than 7,000 miles of wastewater collection and water distribution networks. Its infrastructure management services group serves 220 clients with financial, administrative, and specialized support services. Inframark is based in Katy, Texas.

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Buyer(S) 1

Buyer

New Mountain Capital

New York, New York, United States

website


Category Private Equity Firm
Founded 2000
PE ASSETS 35.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

New Mountain Capital is a private investment firm focused on investment in public and private companies in a variety of industries. New Mountain generally invests $100 to $500 million per transaction and looks for businesses with strong market positions and high barriers to entry. New Mountain also prefers businesses that succeed in both good and bad economies. Sectors of interest include education, healthcare, business services, federal IT services, media, software, consumer products, logistics, financial services and technologies, and energy. New Mountain Capital was formed in 2000 and is based in New York City.


DEAL STATS #
Overall 70 of 85
Sector (Infrastructure) 1 of 1
Type (Secondary Buyout) 28 of 35
State (Texas) 3 of 4
Country (United States) 66 of 81
Year (2020) 10 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-21 Cytel, Inc.

Waltham, Massachusetts, United States

Cytel is a provider of analytical software and services for the life sciences sector. Cytel is shaping the future of drug development. As the world's largest independent clinical biostatistics research and development organization, Cytel helps leading pharmaceutical, biotech, and medical device companies improve clinical success rates via optimal study design, effective data management, and accurate statistical analysis. Cytel was founded in 1987 and is based in Waltham, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-22 Sparta Systems, Inc.

Hamilton, New Jersey, United States

Sparta Systems is a provider of quality management software to the pharmaceutical, medical device, and consumer products industries. Sparta’s software solutions help improve quality outcomes and incident response, with improved regulatory compliance and lower administrative costs. Its flagship platform, TrackWise, is used by 35 of the top 40 pharma companies and 13 of the top 15 medical device manufacturers. Sparta has over 825,000 individual users overall across more than 30 countries. Sparta Systems was formed in 1994 and is based in Hamilton, New Jersey.

Sell $1.3B

Seller(S) 2

SELLER

Alston Capital Partners, LLC

New York, New York, United States

Investor Investor

website


Category Private Equity Firm
Founded 2011
SizeSmall
Type Sector Agnostic
DESCRIPTION

Alston Capital Partners is a lower middle-market private equity firm focused on investing in specialty manufacturing, environmental, and technology companies. Within specialty manufacturing, Alston looks for market leading, low fixed asset companies that produce high value-added products. Within the environmental sector, Alston targets businesses that reduce waste and improve resource consumption. Alston will consider a variety of transaction situations including buyouts, recapitalizations, divestitures, growth equity, turnarounds and minority investments. The Firm seeks opportunities with $10 to $150 million headquartered throughout the US and Canada. Alston Capital Partners was formed in 2011 and is based in New York City.


DEAL STATS #
Overall 3 of 4
Sector (Infrastructure) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Texas) 2 of 2
Country (United States) 3 of 4
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-13 Bouclair, Inc.

Pointe-Claire, Quebec, Canada

Bouclair, Inc. is a home-decor retailer focused on outstanding customer service. Bouclair products are now available in-store and online, providing equal shopping opportunities for every Canadian at all times and during Friends and Family promotion.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-09 Battery Solutions LLC

Howell, Michigan, United States

Battery Solutions is a provider of battery recycling services to corporations, governments, municipalities, and households. Battery Solutions was founded in 1971 and is based in Howell, Michigan.

Sell -
SELLER

PPC Enterprises LLC (Public Pension Capital)

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2012
PE ASSETS 500M USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

Public Pension Capital is a private equity firm focused on investing in US-based middle-market companies operating in the business services, industrial services, financial services, healthcare, and specialty chemicals sectors. The Firm looks to commit $25 to $75 million in profitable companies with up to $250 million in revenue. Public Pension Capital was formed in 2012 and has offices in New York City and Chicago.


DEAL STATS #
Overall 2 of 2
Sector (Infrastructure) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Texas) 1 of 1
Country (United States) 2 of 2
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-28 Bluegrass Dairy and Food, Inc.

Springfield, Kentucky, United States

Bluegrass Dairy and Food, Inc. is a processor of custom, value-added dairy ingredients for the food and beverage industry. Bluegrass sources raw milk from dairy farmers and processes it into a wide range of intermediate and shelf stable goods such as dry milk and cheese powders, non-dairy creamers, shortening powders, cheese, and specialty butters. Bluegrass Dairy and Food was established in 1995 and is based in Springfield, Kentucky.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-25 Life Science Outsourcing, Inc.

Brea, California, United States

Life Sciences Outsourcing, Inc. is headquartered in Brea, California, and has successfully worked with more than 850 medical device startups as a trusted outsource partner by accelerating product speed to market and enabling customers to continually develop increasingly complex and innovative commercial medical devices.

Buy -