M&A Deal Summary

ATSG Acquires Vology

On August 10, 2022, ATSG acquired information technology company Vology from LLM Capital Partners, Banyan Investment Partners, Harbert Private Capital, Jefferson Capital Partners and Capitala Group

Acquisition Highlights
  • This is ATSG’s 9th transaction in the Information Technology sector.
  • This is ATSG’s 9th transaction in the United States.
  • This is ATSG’s 1st transaction in Florida.

M&A Deal Summary

Date 2022-08-10
Target Vology
Sector Information Technology
Buyer(s) ATSG
Sellers(s) LLM Capital Partners
Banyan Investment Partners
Harbert Private Capital
Jefferson Capital Partners
Capitala Group
Deal Type Add-on Acquisition

Target

Vology

Clearwater, Florida, United States
Vology is a high-growth strategic solutions provider with the capabilities to handle full Information technology needs from managed services to field services and product solutions. Vology was founded in 1996 and is based in Clearwater, Florida.

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Buyer(S) 1

Buyer

ATSG

Briarcliff, New York, United States

Category Company
Founded 1994
Sector Information Technology
DESCRIPTION

ATSG is a tech-enabled managed services and solutions company focused on innovative solutions to enhance today's digital enterprise and end-user experiences. ATSG provides Intelligent IT through Technology Solutions as a Service (TSaaS) to a variety of customers; leveraging an offerings portfolio of rediTech, rediManage, rediCloud, and rediSecure, which delivers reliable, elastic, dynamic infrastructure, collaboration, applications, as well as world-class IT operations. ATSG was formed in 1994 and is based in Briarcliff, New York.


DEAL STATS #
Overall 9 of 11
Sector (Information Technology) 9 of 10
Type (Add-on Acquisition) 7 of 8
State (Florida) 1 of 2
Country (United States) 9 of 11
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-14 Optanix

New York, New York, United States

Optanix is a technology and managed services provider. Optanix was founded in 2016 and is based in New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-13 Xentaurs

Miami, Florida, United States

Xentaurs is a cybersecurity company providing consulting, design, implementation, and managed detection & response (MDR) services to ensure customers can evolve their digital presence while maintaining their security posture. Xentaurs was formed in 2016 and is based in Miami, Florida.

Buy -

Seller(S) 5

SELLER

LLM Capital Partners

Boston, Massachusetts, United States

Category Growth Capital Firm
Founded 1991
Size Small
Type Sector Agnostic
DESCRIPTION

LLM Capital Partners LLC is a private equity firm that makes growth capital investments in mid-sized companies. The Firm's investment strategy is to provide $10 to $30 million of non-control growth funding to businesses with enterprise values between $15 and $250 million. Broad sectors of interest include healthcare services, business services and niche manufacturing. LLM Capital was formed in 1991 and has offices in Boston, Massachusetts and San Francisco, California.


DEAL STATS #
Overall 19 of 19
Sector (Information Technology) 4 of 4
Type (Add-on Acquisition) 9 of 9
State (Florida) 4 of 4
Country (United States) 19 of 19
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-01 Aligned Asset Managers

Stamford, Connecticut, United States

Aligned Asset Managers, headquartered in Stamford, CT, is a financial services holding company that specializes in making substantial equity investments in traditional and alternative investment firms.

Sell -
SELLER

Banyan Investment Partners

Miami, Florida, United States

Investor


Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 550M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Banyan is a specialty finance firm that provides mezzanine capital to smaller middle-market companies headquartered primarily in the Southeast US. Banyan looks to invest $5 to $25 million of junior capital in profitable companies. The Firm does not have any industry preferences, however, Banyan will not invest in real estate development, oil and gas exploration, direct lenders, start-ups or turn-around situations. Banyan Mezzanine was formed in 2002 and is based in Miami, Florida.


DEAL STATS #
Overall 22 of 22
Sector (Information Technology) 3 of 3
Type (Add-on Acquisition) 14 of 14
State (Florida) 7 of 7
Country (United States) 22 of 22
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-09 Rio Ranch Markets

Fontana, California, United States

Rio Ranch Markets is an operator of a Hispanic supermarket chain. Rio primarily serves the Hispanic community by replicating the open-air atmosphere of a traditional Latin American marketplace, providing freshly prepared foods, bakery, tortilleria and basic everyday grocery, meat, produce, household needs. Rio Ranch Markets was founded in 1983 and is based in Fontana, California.

Sell -
SELLER

Harbert Private Capital

Birmingham, Alabama, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 4.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harbert Private Equity and Mezzanine is a private equity arm of Harbert Management Corp. The Private Equity group targets leveraged buyouts, recapitalizations, expansion capital investments, and distressed situations. The firm targets opportunities across a range of industries and typical transactions have enterprise values between A$10 and A$100 million. The Mezzanine Capital group seeks subordinated debt investments and can commit $3 to $15 million per transaction. . Harbert Management Corporation was formed in 1985 and has offices in Birmingham, Alabama; New York, New York; Nashville, Tennessee; Richmond, Virginia; London; Madrid; Paris; and Melbourne.


DEAL STATS #
Overall 41 of 43
Sector (Information Technology) 3 of 4
Type (Add-on Acquisition) 24 of 26
State (Florida) 5 of 5
Country (United States) 40 of 42
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-15 Placemakr

Washington, District of Columbia, United States

Placemakr is a flexible hospitality living platform, property manager, and real estate, investor. Its tech-enabled operating platform allows the company to blur the line between hospitality and home, delivering the best experiences of both in a single building. Placemakr's curated spaces in hand-picked neighborhoods allow its guests and residents the flexibility to stay for a night, a year, or anywhere in-between. Placemakr is based in Washington, District of Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-12 Envera Health

Richmond, Virginia, United States

Envera Health is a provider of patient engagement service platform delivers an ecosystem of connectivity to strengthen health systems and physician practices. Envera Health is based in Richmond, Virginia.

Sell -
SELLER

Jefferson Capital Partners

Mandeville, Louisiana, United States

Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Jefferson Capital Partners II, L.P is a small, private investment firm focused on investing in companies operating in the Southeast and Midwest United States. Jefferson has a particular interest in transactions involving growth and expansion, acquisitions, management buyouts, and recapitalizations. Jefferson typically invests between $2 and $4 million of equity per transaction in companies with at least $10 million of revenue. However, larger transactions are possible through co-investment opportunities with the company's private equity partners. Industries of interest include manufacturing, industrial products, services, consumer products, distribution/wholesale, healthcare products and equipment, and applied technology. Jefferson Capital is based in Metairie, Louisiana.


DEAL STATS #
Overall 5 of 5
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 3 of 3
State (Florida) 1 of 1
Country (United States) 5 of 5
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-05 Packaging Products

Mission, Kansas, United States

Packaging Products Corp. LLC is a manufacturer of flexible films, bags and pouches primarily used for food packaging. Founded in 1968, PPC strives to provide the highest quality products with best-in-class lead times.

Sell -
SELLER

Capitala Group

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1998
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Capitala Group is an asset manager that provides equity and mezzanine capital to mid-sized companies valued up to $250 million. Funds are generally used to support growth needs, add-on acquisitions, management/leveraged buyouts, and recapitalizations. Capitatala will invest across the US, but generally targets opportunities located in the Southeast. Industry preferences include building products, business services, consumer/reteail, general industrial, healthcare, and technology. Prospective companies typically have revenues greater than $10 million and EBITDA of at least $3 million. Capitala was formed in 1998 and is headquartered in Charlotte, North Carolina.


DEAL STATS #
Overall 49 of 53
Sector (Information Technology) 5 of 5
Type (Add-on Acquisition) 16 of 17
State (Florida) 3 of 3
Country (United States) 48 of 52
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-09 All Claims

Deerfield Beach, Florida, United States

All Claims is an insurance restoration services firm that provides both consulting and repair services to insurance carriers and their customers. The consulting side includes areas such as appraisal services, estimating services, and expert testimony. The repair side of the business focuses on areas such as fire restoration, water mitigation and restoration, mold remediation, and emergency services. All Claims was founded in 1983 and is based in Deerfield Beach, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-29 McClary Innovation

Salt Lake City, Utah, United States

McClary Innovation is a provider of advanced flexible packaging and contract manufacturer of nutritional supplements and food products with formulation, blending, and filling capabilities. McClary Innovation is based in Salt Lake City, Utah.

Buy -