Carousel Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Carousel Capital has acquired 4 companies. It has also invested in 2 others.

Carousel Capital’s most common sectors for investment arebusiness services (14%) and automotive (11%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (41%) and recapitalization (33%). In total, Carousel Capital has invested in 9 US states.

In the last 3 years, Carousel Capital has exited 3 companies. The Firm’s most common exit type is secondary buyout (65%). Carousel Capital’s largest (disclosed) exit occurred in 2015 when it sold Nestor Sales for $39M.

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M&A Summary

  • M&A Total Activity57
    • M&A Buy Activity37
    • M&A Sell Activity20
  • Total Sectors Invested 21
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 15
  • M&A Advisors 8

Carousel Capital

201 N Tryon Street Suite 2450,
Charlotte, North Carolina 28202
United States
(704) 372-2040
www.carouselcapital.com
info@carouselcapital.com

Carousel Capital is a private investment group that invests in companies headquartered in the Southeast US. The Firm targets leveraged buyouts and recapitalizations of businesses in consumer products/services, business services, and healthcare services. Carousel will consider both the majority and minority situations. Prospective companies are generally valued up to $250 million and have at least $3 million of EBITDA. Carousel Capital was formed in 1996 and is based in Charlotte, North Carolina.


Investment Criteria

Sectors of Interest: Business Services, Consumer Services, Healthcare Services

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Recapitalization, Secondary Buyout

Geographic Preferences: South US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 3 -
Investment Size - -
Enterprise Value - 250
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.6/yr) # 29 2 2 2 1 1 37
Sell (0.6/yr) # 17 - 2 1 - - 20
vol $39M $39M
  57

Most Recent M&A

Company Date Value Type
O.R. Colan Associates 2024-03-07 - Recapitalization
Charlotte, North Carolina · www.orcolan.com
McCorquodale Transfer, Inc. 2023-07-13 - Recapitalization
Birmingham, Alabama · www.mtmoves.com
Reliance Partners LLC 2022-08-29 - Recapitalization
Chattanooga, Tennessee · www.reliancepartners.com
APEX Analytix LLC 2022-06-06 - Secondary Sale
Greensboro, North Carolina · www.apexanalytix.com
Quality Automotive Services LLC 2022-05-16 - Growth Capital
Charlotte, North Carolina
Consolidated Claims Group LLC 2021-12-20 - Secondary Sale
Charlotte, North Carolina · www.ccgiq.com
Pegasus Transtech LLC 2021-12-14 - Growth Capital
Tampa, Florida · www.transflo.com
Legacy Data Access LLC 2021-07-20 - Recapitalization
Charlotte, North Carolina · www.legacydataaccess.com
The Advantage Software Co. 2021-01-19 - Trade Sale
Mooresville, North Carolina · www.gotoadvantage.com
Ethos Risk Services, Inc. 2020-11-20 - Recapitalization
St. Petersburg, Florida · www.ethosrisk.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Business Services 4 (31%) - 5 (14%) -
Automotive 1 (8%) - 4 (11%) -
Healthcare Services 1 (8%) - 3 (8%) -
Software 1 (8%) - 3 (8%) -
Building Materials - - 2 (5%) -
Consumer Services - - 2 (5%) -
Environmental 1 (8%) - 2 (5%) -
Franchising - - 2 (5%) -
Information Technology 1 (8%) - 2 (5%) -
Consumer Products - - 1 (3%) -
Distribution - - 1 (3%) -
Electrical Equipment - - 1 (3%) -
Information Services - - 1 (3%) -
Insurance 1 (8%) - 1 (3%) -
Internet Software and Services 1 (8%) - 1 (3%) -
Machinery 1 (8%) - 1 (3%) -
Medical Products - - 1 (3%) -
Packaging - - 1 (3%) -
Publishing - - 1 (3%) -
Safety/Security - - 1 (3%) -
Transportation 1 (8%) - 1 (3%) -
Total 13 - 37 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 13 (100%) - 37 (100%) -
  North Carolina 5 (38%) - 13 (35%) -
  Alabama 3 (23%) - 7 (19%) -
  Florida 3 (23%) - 5 (14%) -
  South Carolina 1 (8%) - 5 (14%) -
  Georgia - - 2 (5%) -
  Virginia - - 2 (5%) -
  Tennessee 1 (8%) - 1 (3%) -
  Kentucky - - 1 (3%) -
  Texas - - 1 (3%) -
Total 13 - 37 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) - - 15 (41%) -
Recapitalization 9 (69%) - 12 (32%) -
Secondary Buyout 1 (8%) - 6 (16%) -
Growth Capital 2 (15%) - 2 (5%) -
Divestiture 1 (8%) - 1 (3%) -
Going Private - - 1 (3%) -
Total 13 - 37 -

Exits by Deal Type

Type Total # Value
Secondary Sale 13 (65%) -
Trade Sale - Public Company 3 (15%) 39M (100%)
Trade Sale 2 (10%) -
Unknown 2 (10%) -
Total 20 $39M

Top M&A Advisors

Financial Deals
Harris Williams & Co.
 2
William Blair
 1
Fidus Partners
 1
Legal Deals
K&L Gates LLP
 13
Bradley Arant Boult Cummings LLP
 1
McGuireWoods LLP
 1

Deal Values

sell # Total
< $100M 1 $39M
TOTAL $39M
Largest Nestor Sales LLC
$39M (2015-08-03)

M&A Connections

Deals
Acquired from
Investor(s)
16%
6 (16%)
Strategic(s)
3%
1 (3%)
Exited to
Investor(s)
65%
13 (65%)
Strategic(s)
25%
5 (25%)

Investor Summary

Investor Type

Private Equity Firm

Size

Large

PE Assets

1.3B USD

Established

1996

Specialist/Generalist

Generalist

Leadership

Charles Grigg

Managing Partner

Jason Schmidly

Managing Partner

Alan Welch Jr

Partner

Peter Clark Jr.

Partner

Daniel Eassa

CFO & CCO

FAQ

When was Carousel Capital founded?

Carousel Capital was founded in 1996.

What type of investor is Carousel Capital?

Carousel Capital is a private equity firm.

Where is Carousel Capital headquartered?

Carousel Capital is headquartered in Charlotte, North Carolina.

How much capital does Carousel Capital have under management?

Carousel Capital has 1.3B USD under management.

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