M&A Deal Summary

Quad-C Management Acquires Vortex

On September 18, 2023, private equity firm Quad-C Management acquired business services company Vortex from Platform Partners

Acquisition Highlights
  • This is Quad-C Management’s 8th transaction in the Business Services sector.
  • This is Quad-C Management’s 57th transaction in the United States.
  • This is Quad-C Management’s 5th transaction in Texas.

M&A Deal Summary

Date 2023-09-18
Target Vortex
Sector Business Services
Buyer(s) Quad-C Management
Sellers(s) Platform Partners
Deal Type Secondary Buyout

Target

Vortex

Houston, Texas, United States
Vortex is a trenchless solution provider in the water, sewer, and industrial marketplace. Its suite of services includes turnkey bypass and dewatering, large diameter structural relining, pipe bursting and slip lining, structural and corrosion protection, trenchless robotic systems, pipe and drain cleaners and industrial facility maintenance and renewal. Vortex is based in Houston, Texas.

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Buyer(S) 1

Buyer

Quad-C Management

Charlottesville, Virginia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Quad-C Management is a generalist private equity firm that makes control investments in middle-market companies operating in a wide range of industries. Target sector's include building products, business-to-business services, consumer products, distribution/logistics, equipment rental, financial services, healthcare, light manufacturing, packaging, restaurants, security, and specialty chemicals. Quad-C's target investment size is $50 to $150 million in businesses valued between $100 and $500 million and with EBITDA greater than $10 million. Prospective transaction types include recapitalizations/family successions, management buyouts, and industry consolidations. Quad-C Management was founded in 1989 and is headquartered in Charlottesville, Virginia.


DEAL STATS #
Overall 61 of 62
Sector (Business Services) 8 of 9
Type (Secondary Buyout) 16 of 17
State (Texas) 5 of 5
Country (United States) 57 of 58
Year (2023) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-08 Legacy Food Group

United States

Legacy Food Group is a food service distribution company with numerous operating divisions, primarily along the East Coast.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-06 MNX Global Logistics

Long Beach, California, United States

MNX Global Logistics is a provider of express, supply chain, and freight services to customers primarily in the life sciences, entertainment, and aviation industries. MNX Global Logistics was founded in 1983 and is based in Long Beach, California.

Sell -

Seller(S) 1

SELLER

Platform Partners

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 800M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Platform Partners is a private holding company that makes investments in small to mid-sized companies with a history of 'operating profitability'. The platform looks for growth situations and seeks to invest up to $75 million of equity capital per transaction. Prospective transaction situations include management-led buyouts of private companies, recapitalization of family-owned companies, and growth capital commitments to pursue strategic acquisitions. The Firm will consider both majority and minority positions. Platform Partners was formed in 2006 and is based in Houston, Texas.


DEAL STATS #
Overall 12 of 13
Sector (Business Services) 4 of 4
Type (Secondary Buyout) 5 of 5
State (Texas) 9 of 9
Country (United States) 12 of 13
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-03 Principle Health Systems

Houston, Texas, United States

Principle Health Systems is a health care services provider serving the laboratory needs for a diverse customer base, including long term care providers with over 2,000 provider relationships in Texas. Principle also operates three pain management clinics with a long-term history of alleviating pain for patients through its spine and pain practice. Principle Health Systems is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-22 SmartSky Networks

Morrisville, North Carolina, United States

SmartSky Networks is a producer of disruptive communications technologies for the aviation industry. SmartSky Networks was founded in 2011 and is based in Morrisville, North Carolina.

Sell -