Source Capital Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Source Capital has acquired 5 companies. It has also invested in 2 others.

Source Capital’s most common sectors for investment are apparel/textiles (12%) and healthcare services (12%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (58%) and secondary buyout (16%). In total, Source Capital has invested in 14 US states.

In the last 3 years, Source Capital has exited 3 companies. The Firm’s most common exit type is trade sale (39%).

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M&A Summary

  • M&A Total Activity38
    • M&A Buy Activity25
    • M&A Sell Activity13
  • Total Sectors Invested 17
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 18
  • M&A Advisors 3

Source Capital LLC

75 Fourteenth Street, Suite 2700,
Atlanta, Georgia 30309
United States
(866) 949-1381
www.source-cap.com
tomharbin@source-cap.com

Source Capital is a private equity firm that invests in mature, smaller companies in a variety of sectors. The Firm generally looks to support management-backed leveraged acquisitions, recapitalizations, growth financings, and various turnaround situations. Source Capital's broad industry focus includes business services, consumer, distribution/supply, healthcare, and light manufacturing. The Firm prefers control investments, but will selectively review minority situations. Target companies are typically profitable with at least $2 million in EBITDA. Source Capital will not invest in venture deals, high tech, or real estate. Source Capital was formed in 2002 and is based in Atlanta, Georgia.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Beverages, Building Materials, Business Services, Chemicals, Construction, Consumer Products, Consumer Services, Distribution, Electrical Equipment, Energy Services and Equipment, Environmental, Healthcare Services, Leisure, Life Science, Machinery, Manufacturing, Medical Products, Plastics, Renewable Energy, Retail, Safety/Security

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, Special Situations/Distressed, Secondary Buyout

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 2 -
Investment Size 2 10
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (1.4/yr) # 18 - - 4 - 3 25
Sell (1.0/yr) # 8 2 2 - 1 - 13
  38

Most Recent M&A

Company Date Value Type
BlueAlly Technology Solutions 2020-09-03 - Buyout (LBO, MBO, MBI)
Cary, North Carolina · www.blueally.com
Eastern Datacomm, Inc. 2020-08-01 - Buyout (LBO, MBO, MBI)
Hackensack, New Jersey · www.easterndatacomm.com
Cheeze Kurls, Inc. 2020-07-01 - Buyout (LBO, MBO, MBI)
Walker, Michigan
Aerial Access Equipment LLC 2019-06-20 - Bankruptcy
Baton Rouge, Louisiana · www.aae-la.com
TTG Imaging Solutions 2018-12-01 - Growth Capital
Pittsburgh, Pennsylvania · www.ttgimagingsolutions.com
Aspire Allergy & Sinus 2018-07-27 - Growth Capital
Austin, Texas · www.texanallergy.com
M&M Refrigeration LLC 2018-05-03 - Buyout (LBO, MBO, MBI)
Federalsburg, Maryland · www.mmrefrigeration.com
Displayit Holdings LLC 2018-01-01 - Buyout (LBO, MBO, MBI)
Buford, Georgia · www.displayit.com
The Penray Companies, Inc. 2017-06-01 - Add-on Acquisition
Downers Grove, Illinois · www.penray.com
Bills Khakis 2017-01-19 - Add-on Acquisition
Reading, Pennsylvania · www.billskhakis.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Backyard Products LLC 2005-11-01 Swing-N-Slide Corp. 2013-11-12 1
Monroe, Michigan · www.backyardbuildings.com Janesville,, Wisconsin · www.swing-n-slide.com

M&A by Sector

Sector Current # Value All-time # Value
Apparel/Textiles - - 3 (12%) -
Healthcare Services 1 (9%) - 3 (12%) -
Manufacturing 2 (18%) - 3 (12%) -
Energy Services and Equipment 1 (9%) - 2 (8%) -
Information Technology 2 (18%) - 2 (8%) -
Machinery - - 2 (8%) -
Building Materials 1 (9%) - 1 (4%) -
Business Services 1 (9%) - 1 (4%) -
Chemicals - - 1 (4%) -
Consumer Products - - 1 (4%) -
Distribution - - 1 (4%) -
Electrical Equipment - - 1 (4%) -
Environmental - - 1 (4%) -
Food 1 (9%) - 1 (4%) -
Leisure - - 1 (4%) -
Medical Products 1 (9%) - 1 (4%) -
Safety/Security 1 (9%) - 1 (4%) -
Total 11 - 26 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 11 (100%) - 26 (100%) -
  Georgia 2 (18%) - 5 (19%) -
  Michigan 2 (18%) - 3 (12%) -
  Maryland 2 (18%) - 2 (8%) -
  Pennsylvania 1 (9%) - 2 (8%) -
  North Carolina 1 (9%) - 2 (8%) -
  Indiana 1 (9%) - 2 (8%) -
  Tennessee - - 2 (8%) -
  Louisiana - - 2 (8%) -
  Texas 1 (9%) - 1 (4%) -
  New Jersey 1 (9%) - 1 (4%) -
  Utah - - 1 (4%) -
  New York - - 1 (4%) -
  Illinois - - 1 (4%) -
  Florida - - 1 (4%) -
Total 11 - 26 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 8 (73%) - 15 (58%) -
Secondary Buyout 1 (9%) - 4 (15%) -
Growth Capital 2 (18%) - 3 (12%) -
Recapitalization - - 3 (12%) -
Divestiture - - 1 (4%) -
Total 11 - 26 -

Exits by Deal Type

Type Total # Value
Trade Sale 5 (38%) -
Secondary Sale 4 (31%) -
Bankruptcy 1 (8%) -
Divestiture 1 (8%) -
Recapitalization 1 (8%) -
Trade Sale - Public Company 1 (8%) -
Total 13 -

Top M&A Advisors

Financial Deals
Marwood Group LLC
1
Riveron Consulting LLC
1
Legal Deals
McGuireWoods LLP
1

M&A Connections

Deals %
Acquired from
PE Firm(s)
89%
8 89%
Strategic(s)
11%
1 11%
Exited to
PE Firm(s)
50%
7 50%
Strategic(s)
50%
7 50%

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