Recapitalization • Construction

ACON Investments and Florac Acquire Diverzify

On May 19, 2021, private equity firm ACON Investments and family office Florac acquired construction company Diverzify

Acquisition Context
  • This is ACON Investments’ 2nd and Florac’s 1st transaction in the Construction sector.
  • This is ACON Investments’ 39th and Florac’s 6th transaction in the United States.
  • This is ACON Investments’ 2nd and Florac’s 1st transaction in Georgia.

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M&A Deal Summary

Date May 19, 2021
Target Diverzify
Sector Construction
Buyer(s) ACON Investments
Florac
Deal Type Recapitalization

Target Company

Diverzify

Atlanta, Georgia, United States
Diverzify is a commercial flooring installation and related facility services provider with a national reach, servicing 49 states from the Company’s sixteen facilities. The Company serves a diverse array of customers in attractive end markets, including healthcare, education, multi-family, industrial, and government. Diverzify is based in Atlanta, Georgia.
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Buyers Overview 2

Buyer

ACON Investments

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

ACON Investments is an international private equity firm that targets investments in the US, Europe, and Latin America. ACON's investment strategy covers 'opportunities at times of change - responding at points of inflection where value creation is possible'. Examples include businesses that serve the rapidly growing US Hispanic population, energy and energy service needs, businesses in need of operational help, and opportunities in Latin America resulting from economic deregulation and political liberalization. ACON's looks for companies where it can commit $20 to $150 million of equity capital. Target sectors include consumer products and services, distribution, business services and industrial manufacturing. ACON Investments was formed in 1996 and has offices in Washington DC; Houston, Texas; Los Angeles, California; and Madrid, Spain.


Deal Context for Buyer #
Overall 61 of 74
Sector: Construction 2 of 2
Type: Recapitalization 3 of 3
State: Georgia 2 of 2
Country: United States 39 of 43
Year: 2021 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 New Era Cap

Buffalo, New York, United States

New Era Cap is a global headwear and apparel designer. New Era Cap was founded in 1920 and is based in Buffalo, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 Vitalis

Bogota, Colombia

Vitalis is a manufacturer and wholesaler of generic injectable pharmaceuticals with production facilities in Colombia and Mexico. Vitalis is based in Bogota, Colombia.

Buy -
Buyer
DESCRIPTION

Florac is a family office focused on a variety of investments and acquisitions across the US and Western Europe (France, Belgium, Italy and Switzerland). Florac looks to commit €20 to €100 million per transaction to support a variety of transaction situations, including growth capital financings, recapitalizations, and buyouts. Florac does not have sector preferences and generally pursues indefinite investment time horizons. Florac was established in 2009 and is headquartered in Paris, France.


Deal Context for Buyer #
Overall 19 of 24
Sector: Construction 1 of 1
Type: Recapitalization 1 of 2
State: Georgia 1 of 1
Country: United States 6 of 8
Year: 2021 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 Unio Health Partners

Torrance, California, United States

Unio Health Partners is a physician services platform with the goal of transforming urology, gastroenterology, and radiation oncology care delivery across the Western U.S. Unio Health Partners was founded in 2021 and is based in Torrance, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-01 Theop

Paris, France

Theop is an independent consulting group specialized in real estate project management in France. The Group offers real estate project management services to assist its clients in the design, coordination and monitoring of complex real estate projects, as well as acquisition consulting services. Theop was founded in 2012 and is based in Paris, France.

Buy -