M&A Deal Summary

Plexus Capital Acquires Southern Elevator

On October 26, 2023, private equity firm Plexus Capital acquired business services company Southern Elevator

Acquisition Highlights
  • This is Plexus Capital’s 15th transaction in the Business Services sector.
  • This is Plexus Capital’s 97th transaction in the United States.
  • This is Plexus Capital’s 14th transaction in North Carolina.

M&A Deal Summary
Date 2023-10-26
Target Southern Elevator
Sector Business Services
Buyer(s) Plexus Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Southern Elevator

Greensboro, North Carolina, United States
Southern Elevator is a provider of elevator maintenance, modernization, installation, and repair services. The company’s portfolio covers a broad range of industries, from commercial buildings to educational buildings, industrial facilities, residential complexes, healthcare facilities, and beyond. Southern Elevator is based in Greensboro, North Carolina.

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Buyer(S) 1

Buyer

Plexus Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 2.2B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Plexus Capital is a private equity firm that invests in buyouts, acquisitions, recapitalizations and growth financings in the form of junior and/or equity capital. Plexus focuses on lower middle-market businesses located in the Mid-Atlantic and Southeast areas of the US. The Firm looks for businesses companies in the business services, consumer services, manufacturing, value-added distribution, and healthcare sectors with up to $2 to $15 million of cash-flow. Plexus Capital was formed in 1995 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 97 of 97
Sector (Business Services) 15 of 15
Type (Buyout (LBO, MBO, MBI)) 48 of 48
State (North Carolina) 14 of 14
Country (United States) 97 of 97
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-01 Red Bird

Lexington, North Carolina, United States

Red Bird is a family-owned business that manufactures puffed peppermint candies. It also produces Thinfuls, a line of better-for-you handcrafted popcorn snacks. The company sells its branded products, as well as various private-label candy and popcorn products, across the United States in the mass, dollar, club, drug, and e-commerce channels. Red Bird was formed in 1890 and is based in Lexington, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-28 Shenandoah Industrial Solutions

Pompano Beach, Florida, United States

Shenandoah Industrial Solutions is a provider of storm drainage system inspection, cleaning, and CIPP rehabilitation serving municipalities and commercial customers. Shenandoah Industrial Solutions is based in Pompano Beach, Florida.

Sell -
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