Investment Summary

Altamont Capital Partners, Maranon Capital and Churchill Financial Invest In 101

On September 7, 2022, private equity firm Altamont Capital Partners, mezzanine finance firm Maranon Capital and Churchill Financial invested in environmental company 101

Investment Highlights
  • This is Altamont Capital Partners’ 1st, Maranon Capital’s 1st and Churchill Financial’s 1st transaction in the Environmental sector.
  • This is Altamont Capital Partners’ 40th, Maranon Capital’s 37th and Churchill Financial’s 3rd transaction in the United States.
  • This is Altamont Capital Partners’ 3rd, Maranon Capital’s 2nd and Churchill Financial’s 1st transaction in Indiana.

Investment Summary
Date 2022-09-07
Target 101
Sector Environmental
Investor(s) Altamont Capital Partners
Maranon Capital
Churchill Financial
Deal Type Growth Capital
Advisor(s) Mesirow Financial Holdings, Inc. (Financial)
Dentons Bingham Greenebaum (Legal)

Target

101

Pendleton, Indiana, United States
101 is a provider of eco-friendly, waste management services for food processors and retailers. Nutrition 101 repurposes food residuals from manufacturers and retailers into nutritious livestock feed, compost, and green energy products like bio-gas – reducing waste, landfill usage, and greenhouse gas emissions. 101 was founded in 1984 and is based in Pendleton, Indiana.

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Investor(S) 3

Investor

Altamont Capital Partners

Palo Alto, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2010
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Altamont Capital is a private equity group focused on acquiring US-based middle-market companies. The Firm has a particular interest in companies undergoing a transition, either operational or strategic, in which Altamont believes it can help navigate. Altamont can invest up to $150 million of equity per transaction and looks for businesses with EBITDA up to $100 million. The Firm prefers control transactions and targets a range of transaction types, including corporate carve-outs, build-ups, take-privates, and founder transitions. Sectors of interest include business services, financial services, industrials, healthcare, consumer, retail, restaurants, franchising, and technology. Altamont Partners was formed in 2010 and is based in Palo Alto, California.

DEAL STATS #
Overall 45 of 49
Sector (Environmental) 1 of 1
Type (Growth Capital) 16 of 20
State (Indiana) 3 of 3
Country (United States) 40 of 43
Year (2022) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-02 Horizon Investments

Charlotte, North Carolina, United States

Horizon Investments is a provider of modern goals-based investment management. With a focus in goals-based investment strategies, Horizon helps financial advisors and their clients improve the investment experience relative to real world, prioritized financial goals. Horizon's investment process balances quantitative expertise with a qualitative perspective, including economic, fundamental, and macroeconomic analysis. Horizon Investments was founded in 1995 and is based in Charlotte, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-27 Intermix

New York, New York, United States

Intermix is a multi-brand specialty retailer of contemporary women’s apparel. Intermix sets itself apart from the competition by merchandising a mix of established, luxury designer labels alongside a large number of fashion-forward, up-and-coming designer labels. The company’s merchandising mandate is to be cutting edge and at the forefront of the latest trends. Intermix was formed in 1993 and is based in New York, New York.

Sell -
Investor

Maranon Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2007
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Maranon Capital LP is an investment firm that provides senior financing, mezzanine debt and equity co-investments for private equity backed and non sponsored middle market companies. Maranon seeks investments in financially healthy businesses with stable cash flows, diverse customers, and strong management. Prospective companies are valued between $30 and $150 million and generate $5 to $30 million of EBITDA. Maranon looks to invest $2 to $10 million for equity co-investments, $5 to $30 million for junior capital needs, and $10 to $50 million for senior debt requirements. Areas of interest include business services, healthcare services, distribution, manufacturing and consumer products/services. Funds typically support acquisitions, recapitalizations, refinancings, consolidations, ESOPs and growth capital needs. Maranon Capital LP was formed in 2007 and is based in Chicago. The Firm has additional offices in Birmingham, Michigan and South Bend, Indiana.

DEAL STATS #
Overall 38 of 38
Sector (Environmental) 1 of 1
Type (Growth Capital) 6 of 6
State (Indiana) 2 of 2
Country (United States) 37 of 37
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-08 LDR Site Services

Atlanta, Georgia, United States

LDR Site Services is an asset-light provider of equipment rental and related hauling services to site-based projects across the U.S. LDR services multiple industries with varying needs, including, environmental, facilities maintenance, retail, government, construction and commercial, and other events. LDR Site Services was founded in 2010 and is headquartered in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-07 HoofStrong

Fresno, California, United States

HoofStrong is a provider of automated hoof bath systems and the preventative hoof care treatment products utilized in these systems for commercial dairies. HoofStrong was founded in 1999 and is based in Fresno, California.

Sell -
Investor

Churchill Financial

New York, New York, United States
Category Private Equity Firm
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Churchill Financial is the subordinated debt investing arm of financial services group, Churchill Capital. CF provides mezzanine as well as other debt-financing solutions to support private equity sponsored middle-market companies. CF looks to provide $5 to $30 million of capital to companies generating EBITDA of at least $5 million. Sectors of interest include manufacturing, industrial products, electronics, medical components, consumer/household products, recreational equipment, and outsourced business services. The Group will consider opportunities throughout the US and Canada. Churchill Capital is based in New York City.

DEAL STATS #
Overall 3 of 3
Sector (Environmental) 1 of 1
Type (Growth Capital) 1 of 1
State (Indiana) 1 of 1
Country (United States) 3 of 3
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-22 Freestyle Solutions

Totowa, New Jersey, United States

Freestyle Solutions, Inc. is a software developer and marketer of solutions for direct selling, e-commerce and multi-channel businesses. Its solutions are designed specifically for small to medium-sized merchants, distributors, manufacturers and third-party fulfillment operations, and range from complete front-end solutions such as hosted e-commerce web sites to complete back-end order management solutions. Freestyle Solutions was founded in 1983 and is based in Totowa, New Jersey.

Sell -
Mergr

Product

Company

Legal