Secondary Buyout • Business Services

Astatine Investment Partners Acquires Big Truck Rental

On October 18, 2021, infrastructure investor Astatine Investment Partners acquired business services company Big Truck Rental from Trivest Partners

Acquisition Context
  • This is Astatine Investment Partners’ 4th transaction in the Business Services sector.
  • This is Astatine Investment Partners’ 14th transaction in the United States.
  • This is Astatine Investment Partners’ 1st transaction in Florida.

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M&A Deal Summary

Date October 18, 2021
Target Big Truck Rental
Sector Business Services
Buyer(s) Astatine Investment Partners
Sellers(s) Trivest Partners
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)

Target Company

Big Truck Rental

Tampa, Florida, United States
Big Truck Rental is a provider of rental garbage trucks serving public, private and municipality waste haulers throughout the United States and Canada. The company oversees a fleet of 300+ refuse trucks with presence at over 50 rental locations across North America. Big Truck Rental was founded in 2002 and is based in Tampa, Florida.
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Buyer Overview 1

Buyer

Astatine Investment Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Infrastructure
Founded 2005
PE ASSETS 13.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Astatine Investment Partners is a private investment firm specializing in the acquisition of infrastructure assets in North America and Europe. Astatine Investment Partners looks for assets with predictable cash flows, strategic competitive advantages, and limited commodity or merchant risk. Specific sectors of interest include roads, bridges and tunnels; airports, ports and rail; water supply and wastewater treatment; gas transportation, storage and distribution; power generation and electric transmission; and utility services for residential, commercial and industrial customers. Astatine Investment Partners was formed in 2005 and is based in Greenwich, Connecticut.


Deal Context for Buyer #
Overall 21 of 24
Sector: Business Services 4 of 5
Type: Secondary Buyout 9 of 11
State: Florida 1 of 1
Country: United States 14 of 15
Year: 2021 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-21 BCTN

Nijmegen, Netherlands

BCTN is an inland container terminal network in the Benelux with terminals in Alblasserdam, Beringen (Belgium), Geel (Belgium), Den Bosch, Nijmegen, Roermond, Venray and Meerhout (Belgium). BCTN is based in 1987 and is based in Nijmegen, Netherlands.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-12 CVO

Phoenix, Arizona, United States

CVO specializes in systems integration, bringing together complex technologies and infrastructure to enable innovative V2x, connected vehicles, and payment for clients. CVO is a business process outsourcing company, operating primarily within the transportation niche. CVO was founded in 2018 and is headquartered in Phoenix, Arizona.

Sell -

Seller Profile 1

SELLER

Trivest Partners

Coral Gables, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 6.1B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Trivest's corporate headquarters in Coral Gables, Florida.
Trivest's corporate headquarters in Coral Gables, Florida.

Trivest is a private equity firm that invests in North American middle-market corporate acquisitions, recapitalizations, and growth capital financings. For platform investments, sectors of interest include niche manufacturing, value-added distribution, business services, and consumer products/services. The Firm seeks businesses with at least $4 million of EBITDA and valued between $20 and $250 million. Trivest prefers control-based situations but will also consider minority or co-investment opportunities. For add-on opportunities, Trivest will consider companies globally with valuations starting at $1 million. Trivest Partners was formed in 1981 and is based in Coral Gables, Florida.


Deal Context for Seller #
Overall 31 of 47
Sector: Business Services 3 of 5
Type: Secondary Buyout 14 of 22
State: Florida 7 of 10
Country: United States 28 of 43
Year: 2021 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-11 Transit

Levis, Quebec, Canada

Transit is an auto parts supplier and distributor in eastern Canada. The Company supplies over 17,000 parts focused on categories such as brakes and chassis\/suspension, and services over 1,000 customers including auto parts retailers\/jobbers, online retailers and wholesalers through its eight warehouses. Transit is based in Levis, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-15 Lamark Media

Boca Raton, Florida, United States

Lamark Media is a full-service integrated digital marketing company. Lamark Media offers integrated marketing solutions, with specialization in ecommerce, lead generation and digital customer acquisition strategy. Lamark’s clients range from emerging brands to Fortune 500 companies for both consumer and business-to-business initiatives. Lamark Media is based in Boca Raton, Florida.

Sell -