M&A Deal Summary

Odyssey Investment Partners and Audax Private Debt Acquire Magna Legal Services

On October 19, 2022, private equity firm Odyssey Investment Partners and mezzanine finance firm Audax Private Debt acquired business services company Magna Legal Services from CIVC Partners

Acquisition Highlights
  • This is Odyssey Investment Partners’ 9th and Audax Private Debt’s 8th transaction in the Business Services sector.
  • This is Odyssey Investment Partners’ 49th and Audax Private Debt’s 59th transaction in the United States.
  • This is Odyssey Investment Partners’ 1st and Audax Private Debt’s 3rd transaction in Pennsylvania.

M&A Deal Summary

Date 2022-10-19
Target Magna Legal Services
Sector Business Services
Buyer(s) Odyssey Investment Partners
Audax Private Debt
Sellers(s) CIVC Partners
Deal Type Secondary Buyout
Advisor(s) Harris Williams & Co. (Financial)
Ropes & Gray (Legal)

Target

Magna Legal Services

Philadelphia, Pennsylvania, United States
Magna is a provider of litigation support services to law firms, corporations, insurance carriers, and government agencies, offering a broad array of services that support clients through each phase of the litigation process, including court reporting, translation, videography, records retrieval, jury evaluation and consulting graphics design, and trial presentation services. Magna Legal Services was founded in 2007 and is based in Philadelphia, Pennsylvania.

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Buyer(S) 2

Buyer

Odyssey Investment Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 8.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Odyssey Investments is a private equity firm that seeks control/majority investments in middle-market companies. Odyssey looks to back existing management and make investments in the form of leveraged acquisitions, growth financings and recapitalizations. Sectors of interest include industrial manufacturing, business and financial services, aerospace products and services, and 'route-based services'. Odyssey Investment Partners is based in New York City with an additional office in Woodland Hills, California.


DEAL STATS #
Overall 52 of 52
Sector (Business Services) 9 of 9
Type (Secondary Buyout) 23 of 23
State (Pennsylvania) 1 of 1
Country (United States) 49 of 49
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-16 Pexco

Johns Creek, Georgia, United States

Pexco is a North American designer and fabricator of engineered plastic components. It provides standard and specialty parts and components to manufacturers and end-users for a broad range of custom applications, including the specialty industrial, fluid-handling, lighting, traffic safety, fence, and electrical insulation industries. Pexco offers a full range of custom design, engineering, and fabrication services, including ISO 9001:2015 registration, across its manufacturing operations.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-01 Aramsco

Paulsboro, New Jersey, United States

Aramsco is a distributor of products, equipment, and services to specialty contractors in North America. The Company carries more than 30,000 different products ranging from personal protective equipment to specialty chemicals and equipment. Aramsco complements this product offering with a suite of value-added services such as equipment repair, rental, and training. Aramsco was founded in 1966 and is based in Paulsboro, New Jersey.

Sell -
Buyer

Audax Private Debt

New York, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 5.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Mezzanine is the mezzanine finance arm of the Audax Group. The Firm focuses on investing in both private and public, US-based middle market companies with a strong history of cash flows and consistent revenue growth. Audax will consider subordinated mezzanine debt commitments, second lien or junior secured debt, preferred stock and common stock. The Firm seeks to invest in companies valued between $10 and $60 million. Types of transaction include MBOs, LBOs, growth capital financings, acquisition financings, and recapitalizations.


DEAL STATS #
Overall 61 of 66
Sector (Business Services) 8 of 8
Type (Secondary Buyout) 26 of 29
State (Pennsylvania) 3 of 3
Country (United States) 59 of 64
Year (2022) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-13 Roto-Rooter

Vista, California, United States

Roto-Rooter provides plumbing, drain, and flood restoration services to both commercial and residential property owners. Roto-Rooter was founded in 1974 and is based in Vista, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-01 Ned Stevens

Fairfield, New Jersey, United States

Ned Stevens provides gutter cleaning, soft wash, and other related, non-discretionary residential services, including gutter maintenance, installation, and repair. Ned Stevens was founded in 1965 and is based in Fairfield, New Jersey.

Sell -

Seller(S) 1

SELLER

CIVC Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1970
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

CIVC Partners is a private equity firm that provides buyout and growth capital to middle-market businesses located in the US and Canada. CIVC invests in companies generating sales of $40 - $300 million with an EBITDA of $5 to $25 million. Sectors of interest include Business Services, Information Services, Facility Services, Insurance Services, Transportation & Logistics, Tech-enabled Services, BPO, SaaS, Compliance Services, Corporate Training, IT Services, and Utility Services. The firm invests in the range of $20 - $100 million per transaction. CIVC prefers to be the lead equity sponsor and will consider both majority and minority investment situations. CIVC Partners was formed in 1970 and is based in Chicago, Illinois.


DEAL STATS #
Overall 48 of 48
Sector (Business Services) 10 of 10
Type (Secondary Buyout) 19 of 19
State (Pennsylvania) 3 of 3
Country (United States) 47 of 47
Year (2022) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-12 Continuum

Conshohocken, Pennsylvania, United States

Continuum is an integrated platform company providing property management and associated residential services to HOA customers. Continuum was formed in 2014 and is based in Conshohocken, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-21 Signers National

New York, New York, United States

Signers National is a Technology-enabled insurance brokerage and managing general agent focused on commercial insurance for the not-for-profit and human services sectors. Signers National is based in New York City.

Buy -