M&A Deal Summary

ABS Capital Partners, Calera Capital and LNC Partners Acquire ModSpace

On April 2, 2007, private equity firms ABS Capital Partners, Calera Capital and LNC Partners acquired building materials company ModSpace

Acquisition Highlights
  • This is ABS Capital Partners’ 1st, Calera Capital’s 3rd and LNC Partners’ 1st transaction in the Building Materials sector.
  • This is ABS Capital Partners’ 25th, Calera Capital’s 15th and LNC Partners’ 21st transaction in the United States.
  • This is ABS Capital Partners’ 1st, Calera Capital’s 2nd and LNC Partners’ 3rd transaction in Pennsylvania.
Investment Fate
  • ModSpace was sold to a publicly-traded strategic buyer in 2018 for 1.1B USD.

M&A Deal Summary

Date 2007-04-02
Target ModSpace
Sector Building Materials
Buyer(s) ABS Capital Partners
Calera Capital
LNC Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

ModSpace

Berwyn, Pennsylvania, United States
ModSpace is the largest privately held provider of office trailers, portable storage units and modular buildings for temporary or permanent space needs in North America. Building on nearly 50 years of experience, ModSpace serves a diverse set of customers and markets—including commercial, construction, education, government, health care, industrial, energy, disaster relief, franchise and special events—through an extensive branch network across the United States and Canada.

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Buyer(S) 3

Buyer

ABS Capital Partners

Hunt Valley, Maryland, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1990
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ABS Capital Partners is a private equity firm that invests in later-stage growth companies in the healthcare, technology, business services, media and communications sectors. ABS provides capital to help fund growth, provide shareholder liquidity, pursue acquisitions, or to effect a management buyout. The Firm prefers US based business and will consider both majority and minority positions. ABS looks to commit $10 to $25 million per transaction. ABS Capital was formed in 1990 and has offices in Baltimore, Maryland; Waltham, Massachusetts; and San Francisco, California.


DEAL STATS #
Overall 25 of 65
Sector: Building Materials M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 11 of 20
State: Pennsylvania M&A 1 of 2
Country: United States M&A 25 of 63
Year: 2007 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-09 Superior Vision

Rancho Cordova, California, United States

Superior Vision is a provider of vision and eye health solutions to the full spectrum of the vision care marketplace, including groups, health plans and government-sponsored programs. Company care for clients and members by delivering broad and affordable access to vision care, outstanding service and resources to help them make informed vision care choices that offer the greatest value. Superior Vision was founded in 1993 and is based in Rancho Cordova, California.

Buy $54M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-08 Radiant Research

Tempe, Arizona, United States

Radiant Research is a comprehensive clinical research and development company serving the biopharmaceutical and medical device industry. Radiant employs over 500 clinical research professionals exclusively focused on providing professional, high quality study conduct and drug development services. In the past four years, Radiant has conducted more than 8,000 clinical trials across 18 therapeutic specialties.

Sell -
Buyer

Calera Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Calera Capital Partners LP is a private equity firm that targets investments in mid-sized North American businesses valued up to $750 million. Calera Capital looks to invest at least $35 million of equity capital per transaction. Target industries include manufacturing, software, healthcare, consumer products and services. Prospective transaction situations include leveraged recapitalizations of privately held companies, restructurings, growth financings/acquisitions, corporate spin-offs, and take-private situations. Calera seeks businesses with leading market positions, attractive margins, and strong organic growth. Calera Capital was formerly known as Fremont Partners, a unit of the Fremont Group. Calera Capital was formed in 1991 and has offices in San Francisco, California and Boston, Massachusetts.


DEAL STATS #
Overall 16 of 36
Sector: Building Materials M&A 3 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 14 of 23
State: Pennsylvania M&A 2 of 5
Country: United States M&A 15 of 33
Year: 2007 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-02 Resun Leasing

Dulles, Virginia, United States

Resun Leasing is a leading lessor of modular buildings. Resun leases, sells, delivers, installs, and services modular mobile offices and factory-built buildings for public and private schools, churches, day care centers, hospitals, county, state and federal government agencies, and corporations. Resun was founded in 1986 and has enjoyed considerable growth in assets, revenues, and profits. Resun operates through 37 branches primarily located throughout the East Coast, South, and Sunbelt states. Resun is an entrepreneurial, growth-focused company led by a management team that is highly experienced in the modular building industry. Resun's high customer service levels and flexible product offering have resulted in strong customer loyalty in a diverse range of industries.Calera Capital acquired a controlling interest in Resun in September 2000. Resun's management team retains a substantial equity interest in the business.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-09 Rock-It

New York, New York, United States

Rock-It is a provider of freight forwarding and logistics to the music touring, fine arts, sports & live events, film & TV production, corporate events, and industrial projects end markets through its family of affiliated brands including Rock-it Global, Dietl, Cosdel, CargoLive, and Dynamic International. Rock-It was founded in 1978 and is based in New York, New York.

Buy -
Buyer

LNC Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2010
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

LNC Partners is a private investment firm focused on providing $10 to $40 million of equity and junior capital to support a variety of company transactions. As a provider of debt, LNC offers subordinated debt and unitranche securities. As a provider of equity, LNC will invest as a minority or majority partner. Prospective transaction situations include buyouts, refinancings, acquisition financings, growth capital needs, and recapitalizations. Sectors of interest include business and information services, financial services, insurance, healthcare, and niche manufacturing. LNC Partners is based in Arlington, Virginia.


DEAL STATS #
Overall 21 of 45
Sector: Building Materials M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 8 of 8
State: Pennsylvania M&A 3 of 6
Country: United States M&A 21 of 45
Year: 2007 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-01 Old Orchard Brands

Sparta, Michigan, United States

Old Orchard is a manufacturer and marketer of ready-to-drink and frozen branded juice products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-01 Higginbotham

Fort Worth, Texas, United States

Higginbotham is an insurance, risk management, and financial services firm that provides its clients with access to commercial and personal property & casualty coverage, employee benefits, retirement plans, life insurance, and executive compensation solutions through more than 250 regional and national insurance carriers. Higginbotham was founded in 1948 and is based in Fort Worth, Texas.

Buy -