Tenth Street Capital Mergers and Acquisitions Summary

Mezzanine Finance Firm Profile

Tenth Street Capital’s most common sectors for investment arepackaging (12%) and distribution (12%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (72%) and recapitalization (18%). In total, Tenth Street Capital has invested in 21 US states.

In the last 3 years, Tenth Street Capital has exited 5 companies. The Firm’s most common exit type is trade sale (43%).

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M&A Summary

  • M&A Total Activity56
    • M&A Buy Activity35
    • M&A Sell Activity21
  • Total Sectors Invested 19
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 34

Tenth Street Capital

901 Tallan Building,
Chattanooga, Tennessee 37402
United States
(423) 266-7196
www.tenthstreet.com
alduke@tenthstreet.com

Tenth Street Capital LLC is an independent investment firm that seeks to invest in lower middle-market companies operating in a broad range of industries. TSC targets profitable businesses with strong market positions and diverse customers. Tenth Street will provide equity and junior capital and looks to invest $1 to $5 million in companies generating $10 to $150 million of revenue. Areas of interest include manufacturing, distribution, and services. Investment proceeds are generally used to support acquisitions, buyouts, and recapitalizations. Tenth Street Capital LLC was formed in 2005 and is based in Chattanooga, Tennessee.


Investment Criteria

Sectors of Interest: Automotive, Business Services, Communications, Consumer Products, Consumer Services, Distribution, Electrical Equipment, Energy Services and Equipment, Furniture, Healthcare Services, Information Technology, Life Science, Machinery, Manufacturing, Marine, Packaging, Restaurants, Retail, Staffing, Transportation

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

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

Transaction Criteria Min Max
Target Revenue 10 150
Target EBITDA 1 -
Investment Size 1 12
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (0.4/yr) # 33 2 - - - - 35
Sell (1.2/yr) # 15 1 - 2 2 1 21
  56

Most Recent M&A

Company Date Value Type
Sunbelt Packaging LLC 2022-07-27 - Add-on Acquisition
York, South Carolina · www.sunbeltpackagingllc.com
Source Broadband Services LLC 2021-07-07 - Add-on Acquisition
Roswell, Georgia · www.tach1.com
Superior Pipeline Services 2021-03-18 - Add-on Acquisition
Fort Worth, Texas · www.superiorpipelineservices.com
Clarke Solutions LLC 2020-10-27 - Unknown
Fishers, Indiana · theclarkecompanies.net
The Krystal Co. 2020-01-19 - Bankruptcy
Dunwoody, Georgia · www.krystal.com
Mid America Specialty Services 2018-05-31 - Recapitalization
Ozark, Missouri · www.massus.com
VersiCare Group LLC 2018-02-28 - Buyout (LBO, MBO, MBI)
Troy, Michigan · www.versicaregroup.com
Myco Trailers LLC 2018-02-21 - Secondary Sale
Bradenton, Florida · www.mycotrailers.com
Thomas Pipe & Supply LLC 2017-12-19 - Add-on Acquisition
Phoenix, Arizona · www.thomaspipe.net
Nexus Technologies, Inc. 2017-12-13 - Recapitalization
Greenwood Village, Colorado · www.nexustek.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Distribution - - 4 (11%) -
Healthcare Services 1 (8%) - 4 (11%) -
Packaging 1 (8%) - 4 (11%) -
Transportation 2 (17%) - 3 (9%) -
Business Services 1 (8%) - 2 (6%) -
Consumer Products 1 (8%) - 2 (6%) -
Consumer Services 1 (8%) - 2 (6%) -
Information Technology - - 2 (6%) -
Manufacturing - - 2 (6%) -
Automotive 1 (8%) - 1 (3%) -
Communications - - 1 (3%) -
Electrical Equipment 1 (8%) - 1 (3%) -
Energy Services and Equipment - - 1 (3%) -
Furniture 1 (8%) - 1 (3%) -
Machinery - - 1 (3%) -
Marine - - 1 (3%) -
Restaurants - - 1 (3%) -
Retail 1 (8%) - 1 (3%) -
Staffing 1 (8%) - 1 (3%) -
Total 12 - 35 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 12 (100%) - 35 (100%) -
  Tennessee 2 (17%) - 5 (14%) -
  Georgia 1 (8%) - 3 (9%) -
  Florida - - 3 (9%) -
  Washington 1 (8%) - 2 (6%) -
  Ohio 1 (8%) - 2 (6%) -
  Louisiana 1 (8%) - 2 (6%) -
  Indiana 1 (8%) - 2 (6%) -
  Massachusetts - - 2 (6%) -
  Arizona - - 2 (6%) -
  Wisconsin 1 (8%) - 1 (3%) -
  Nebraska 1 (8%) - 1 (3%) -
  Missouri 1 (8%) - 1 (3%) -
  Michigan 1 (8%) - 1 (3%) -
  Idaho 1 (8%) - 1 (3%) -
  Texas - - 1 (3%) -
  South Carolina - - 1 (3%) -
  New York - - 1 (3%) -
  New Hampshire - - 1 (3%) -
  Kansas - - 1 (3%) -
  Iowa - - 1 (3%) -
  Colorado - - 1 (3%) -
Total 12 - 35 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 8 (67%) - 25 (71%) -
Recapitalization 3 (25%) - 6 (17%) -
Secondary Buyout 1 (8%) - 2 (6%) -
Divestiture - - 1 (3%) -
Growth Capital - - 1 (3%) -
Total 12 - 35 -

Exits by Deal Type

Type Total # Value
Trade Sale 9 (43%) -
Secondary Sale 7 (33%) -
Bankruptcy 1 (5%) -
Merger 1 (5%) -
Recapitalization 1 (5%) -
Trade Sale - Public Company 1 (5%) -
Unknown 1 (5%) -
Total 21 -

M&A Connections

Deals
Acquired from
Investor(s)
6%
2 (6%)
Strategic(s)
3%
1 (3%)
Exited to
Investor(s)
33%
7 (33%)
Strategic(s)
43%
9 (43%)

Investor Summary

Investor Type

Mezzanine Finance Firm

Size

Small

PE Assets

100M USD

Established

2005

Specialist/Generalist

Generalist

Leadership

Al Duke

Co-Founder & Partner

Meredith Duke

Partner

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