Buyout (LBO, MBO, MBI) • Business Services

Angeles Equity Partners and Stellus Capital Management Acquire Xanitos

On June 29, 2021, private equity firms Angeles Equity Partners and Stellus Capital Management acquired business services company Xanitos

Acquisition Context
  • This is Angeles Equity Partners’ 1st and Stellus Capital Management’s 3rd transaction in the Business Services sector.
  • This is Angeles Equity Partners’ 8th and Stellus Capital Management’s 26th transaction in the United States.
  • This is Angeles Equity Partners’ 1st and Stellus Capital Management’s 2nd transaction in Pennsylvania.
Investment Fate
  • Xanitos was sold to a consortium of buyers in 2025.

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M&A Deal Summary

Date June 29, 2021
Target Xanitos
Sector Business Services
Buyer(s) Angeles Equity Partners
Stellus Capital Management
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Blitzer, Clancy & Company (Financial)

Target Company

Xanitos

Newtown Square, Pennsylvania, United States
Xanitos is a provider of outsourced hospital housekeeping services across the United States. Its services include daily and post-discharge cleaning of patient rooms, cleaning and maintenance of flooring in common areas and passageways, and responding to situational cleaning needs. Xanitos was founded in 2008 and is based in Newtown Square, Pennsylvania.
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Buyers Overview 2

Buyer
DESCRIPTION

Angeles Equity Partners LLC is a private equity firm focused on acquiring North American headquartered companies valued up to $350 million. Angeles is a hands-on investor and prefers underperforming companies in need of restructuring, non-core assets of larger businesses, or family/founder owned businesses that could benefit from operational assistance. Target sectors include automotive, building materials, machinery, chemicals, electronics, manufacturing, metals, transportation/logistics, packaging, and distribution. Angeles Capital Partners was formed in 2014 and is based in Los Angeles, California.


Deal Context for Buyer #
Overall 8 of 18
Sector: Business Services 1 of 3
Type: Buyout (LBO, MBO, MBI) 3 of 9
State: Pennsylvania 1 of 1
Country: United States 8 of 17
Year: 2021 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-08 Primus Aerospace

Lakewood, Colorado, United States

Primus Aerospace is a manufacturer of complex precision components for the aerospace, defense, and space (“AD&S”) sectors. Primus serves several of the premier AD&S prime contractors and original equipment manufacturers (“OEMs”) for many of the industry’s most strategic platforms and programs. Primus Aerospace is based in Lakewood, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-05 AdvancedPCB

Santa Clara, California, United States

AdvancedPCB is a manufacturer of high reliability, technologically advanced, quick-turn printed circuit board prototypes for aerospace and defense, industrial, and consumer electronics companies. The company offers its customers world-class cycle times and quality, robust engineering capabilities, and comprehensive global program management. AdvancedPCB was founded in 1977 and is based in Santa Clara, California.

Sell -
Buyer

Stellus Capital Management

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 3.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stellus Capital Management is a provider of debt and equity capital to middle-market companies headquartered throughout the US and Canada. For credit commitments, Stellus looks to provide $10 to $50 million of capital to help support buyouts, acquisitions, recapitalization, growth opportunities, rescue financing, distressed situations, as well as bridge loans. Sectors' of interest for Stellus' credit practice includes business services, energy, general industrial, government, healthcare, software and specialty finance. Stellus' equity practice seeks to provide $20 to $100 million to small and mid-sized energy (upstream, oilfield services, midstream) companies. Stellus Capital was originally formed in 2004 as Laminar Direct Capital and operated as the direct investing unit of D.E. Shaw. The Group became independent in 2012. Stellus has offices in Houston, New York City, and Washington DC.


Deal Context for Buyer #
Overall 26 of 87
Sector: Business Services 3 of 13
Type: Buyout (LBO, MBO, MBI) 10 of 23
State: Pennsylvania 2 of 5
Country: United States 26 of 84
Year: 2021 6 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-08 Primus Aerospace

Lakewood, Colorado, United States

Primus Aerospace is a manufacturer of complex precision components for the aerospace, defense, and space (“AD&S”) sectors. Primus serves several of the premier AD&S prime contractors and original equipment manufacturers (“OEMs”) for many of the industry’s most strategic platforms and programs. Primus Aerospace is based in Lakewood, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-21 Gen3 Marketing

Blue Bell, Pennsylvania, United States

Gen3 Marketing is a digital marketing agency that provides affiliate marketing services to customers (“advertisers”) by optimizing advertisers’ positioning of their products and services on third party websites (“publishers” or “affiliates”). Gen3 Marketing was founded in 2007 and is based in Blue Bell, Pennsylvania.

Buy -