M&A Deal Summary

ACON Investments Acquires FLEETWASH

On October 2, 2018, private equity firm ACON Investments acquired consumer services company FLEETWASH from DFW Capital Partners and Prospect Capital Management

Acquisition Highlights
  • This is ACON Investments’ 1st transaction in the Consumer Services sector.
  • This is ACON Investments’ 33rd transaction in the United States.
  • This is ACON Investments’ 4th transaction in New Jersey.

M&A Deal Summary

Date 2018-10-02
Target FLEETWASH
Sector Consumer Services
Buyer(s) ACON Investments
Sellers(s) DFW Capital Partners
Prospect Capital Management
Deal Type Secondary Buyout

Target

FLEETWASH

Fairfield, New Jersey, United States
FLEETWASH is a platform of scale providing professional cleaning services to truck fleets and facilities such as gas stations and grocery stores. FLEETWASH was founded in 1973 and is based in Fairfield, New Jersey.

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Buyer(S) 1

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 STATS #
Overall 52 of 74
Sector: Consumer Services M&A 1 of 2
Type: Secondary Buyout M&A Deals 9 of 13
State: New Jersey M&A 4 of 5
Country: United States M&A 33 of 43
Year: 2018 M&A 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-13 Goody Products

Atlanta, Georgia, United States

Goody Products is a manufacturer of hair styling tools and accessories. Goody Products was founded in 1907 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-06 Betterware de Mexico

Zapopan, Mexico

Betterware de Mexico is a direct-to-consumer seller of home organization and houseware products. Betterware’s product portfolio includes a large variety of items for the home, including for organization, storage, kitchen preparation, food storage, and basic furniture. Betterware de Mexico was founded in 1995 and is headquartered in Zapopan, Mexico.

Sell -

Seller(S) 2

SELLER

DFW Capital Partners

New York, New Jersey, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1983
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

DFW Capital Partners is a private equity firm that invests in high-growth middle-market service companies generating revenues up to $200 million. Specific service areas of interest include business services, industrial services, and healthcare services. Prospective transactions include growth capital financing, acquisition financing, management buyouts, and recapitalization. DFW will not invest in start-ups, real estate, or pure R&D companies. DFW Capital Partners was formed in 1983 and is based in Teaneck, New Jersey.


DEAL STATS #
Overall 20 of 26
Sector: Consumer Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 10 of 12
State: New Jersey M&A 5 of 5
Country: United States M&A 20 of 26
Year: 2018 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-29 AQUALIS

Morrisville, North Carolina, United States

AQUALIS is a provider of post-construction stormwater management to the commercial, retail, industrial, hospitality, residential, and governmental industries through stormwater consulting, inspection, preventative maintenance, and repair services. AQUALIS was formed in 2001 and is based in Morrisville, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-15 Lotus Clinical Research

Pasadena, California, United States

Lotus Clinical Research is an internationally recognized CRO, clinical research site and regulatory consulting firm focused in the pain therapeutic area. Lotus has performed over 300 clinical trials on pain therapies and pioneered new research models for acute pain trials including abdominoplasty and DOMS (delayed onset muscle soreness). Lotus Clinical Research was founded in 2001 and is based in Pasadena, California.

Buy -
SELLER

Prospect Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Business Development Company
Founded 1988
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Capital Corporation is a publicly traded mezzanine debt and private equity firm that primarily provides non-control financing to support growth, recapitalizations, acquisitions, and development. Prospect will selectively consider control acquisitions by providing multiple levels of the capital structure. Prospect was initially formed in 1988 and went public 2004. The Firm is based in New York City.


DEAL STATS #
Overall 44 of 48
Sector: Consumer Services M&A 2 of 2
Type: Secondary Buyout M&A Deals 22 of 23
State: New Jersey M&A 1 of 1
Country: United States M&A 43 of 47
Year: 2018 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-10 Jordan Health Services

Addison, Texas, United States

Jordan Health Services is a provider of home health services, including personal care, home management, and skilled nursing, to Medicaid and/or Medicare eligible patients throughout the entire state of Texas. With over 12,000 employees in 28 locations serving thousands of clients, Jordan Health Services is one of the largest home healthcare providers in the state of Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-16 Small Tube Products

Duncansville, Pennsylvania, United States

ST Products LLC is a producer of precision redrawn, small diameter, thin wall copper, and specialty alloy tubes. ST Products was founded in 1947 and is based in Duncansville, Pennsylvania.

Sell -