M&A Deal Summary

Audax Private Equity and Greenbriar Equity Group Acquire Alliance Ground International

On June 1, 2021, private equity firms Audax Private Equity and Greenbriar Equity Group acquired transportation company Alliance Ground International from Harren Equity Partners and Littlejohn

Acquisition Highlights
  • This is Audax Private Equity’s 3rd and Greenbriar Equity Group’s 11th transaction in the Transportation sector.
  • This is Audax Private Equity’s 132nd and Greenbriar Equity Group’s 29th transaction in the United States.
  • This is Audax Private Equity’s 9th and Greenbriar Equity Group’s 2nd transaction in Florida.

M&A Deal Summary

Date 2021-06-01
Target Alliance Ground International
Sector Transportation
Buyer(s) Audax Private Equity
Greenbriar Equity Group
Sellers(s) Harren Equity Partners
Littlejohn
Deal Type Secondary Buyout

Target

Alliance Ground International

Miami, Florida, United States
Alliance Ground International is a North American provider of specialized air cargo and ramp handling services to the aviation industry. The company provides on-airport handling, warehousing, cold storage, pallet buildup/breakdown, mail sorting, and aircraft loading and unloading services to over 80 air carrier customers from its strategic operating footprint of 33 facilities at 21 airports across the United States. Alliance Ground International is headquartered in Miami, Florida.

Search 200,500 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 2

Buyer

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 137 of 167
Sector (Transportation) 3 of 3
Type (Secondary Buyout) 59 of 72
State (Florida) 9 of 11
Country (United States) 132 of 158
Year (2021) 3 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-19 Gastro Health

Miami, Florida, United States

Gastro Health is a gastroenterology physician practice management company with 21 centers across South Florida. Gastro Health was founded in 2003 and is based in Miami, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-28 S.J. Electro Systems

Detroit Lakes, Minnesota, United States

S.J. Electro Systems is a manufacturer of control solutions for the water and wastewater industry. SJE’s control solutions platform includes three trusted brands: CSI Controls, PRIMEX, and SJE Rhombus. S.J. Electro Systems was founded in 1975 and is based in Detroit Lakes, Minnesota.

Buy -
Buyer

Greenbriar Equity Group

Rye, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Greenbriar Equity Group is a specialized private equity firm focused on investing in the global transportation and advanced manufacturing industries. Companies of interest include traditional carriers, such as railroads, cruise lines, airlines, air freight, shipping, and trucking, as well as ancillary manufacturers and service companies that support the transportation industry. Greenbriar will consider making majority as well as minority investments through a variety of structures, including leveraged buyouts, recapitalizations, growth capital investments, corporate joint ventures and privatizations. The Firm targets businesses valued from $100 million to $1 billion. Greenbriar Equity was formed in 1999 and is based in Rye, New York.


DEAL STATS #
Overall 34 of 45
Sector (Transportation) 11 of 12
Type (Secondary Buyout) 16 of 20
State (Florida) 2 of 4
Country (United States) 29 of 40
Year (2021) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-01 OnTrac Final Mile

Vienna, Virginia, United States

OnTrac is the parcel carrier of choice for last-mile e-commerce deliveries that helps retailers and shippers build a competitive advantage through faster delivery times, lower costs, coast-to-coast coverage, and reliable on-time performance. OnTrac was founded in 1986 and is based in Vienna, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-30 FragilePak

Henderson, Nevada, United States

FragilePAK is a non-asset-based transportation management provider of end-to-end delivery services for bulk and heavy goods. The company’s solution revolves around a specialized transportation network and proprietary software that centralizes the data from third-party transportation partners and streamlines the delivery process from order placement to final delivery. FragilePAK was formed in 2015 and is based in Henderson, Nevada.

Buy -

Seller(S) 2

SELLER

Harren Equity Partners

Charlottesville, Virginia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 450M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Harren Equity Partners LLC is an East Coast US-based private equity firm focused on mid-sized acquisitions, recapitalizations and growth capital financings. Harren is a generalist firm and will consider companies in a broad range of industries, including aerospace/defense, automotive, business services, building materials, energy services, furniture, industrial machinery, medical products, natural resources, healthcare services, restaurants, retail, and recycling. Prospective companies typically have sales of $30 to $300 million, EBITDA of $7 to $30 million, and are located in North America. Harren prefers businesses with defensible markets positions, proven management, and strong growth potential. Harren Equity Partners LLC was formed in 2000 and is based in Charlottesville, Virginia.


DEAL STATS #
Overall 19 of 23
Sector (Transportation) 2 of 3
Type (Secondary Buyout) 6 of 8
State (Florida) 4 of 4
Country (United States) 19 of 23
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-27 Marianna

Omaha, Nebraska, United States

Founded in 1968, Marianna is a full-service custom manufacturer, formulator, and distributor of client-tailored hair care, hand and body products, styling aids and fixatives, hair color and dispensary products, and pet grooming products. Marianna operates a 400,000 square foot FDA-registered and cGMP-compliant facility, offering a comprehensive suite of capabilities, including research and development, packaging compatibility, preservative efficacy, and micro testing, regulatory expertise, global sourcing competency, customized kitting, and multiple distribution options.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-10 Health Connect America

Franklin, Tennessee, United States

Health Connect America provides mental and behavioral health services to children, families, and adults across multiple states. The company is honored to be a part of the communities it serves and walk alongside its clients as they embark on a journey to self-improvement and more fulfilling lives. Health Connect America provides its services in the community, in-home, or in one of the multiple offices across several states. Its network of direct care professionals is readily available to meet the needs of our clients and their families in our communities. Health Connect America is based in Franklin, Tennessee.

Sell -
SELLER

Littlejohn

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 7.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Littlejohn is a private equity firm that makes control investments in mid-sized companies undergoing change; either in capital structure, strategy, operations, or growth. Littlejohn looks to commit $50 to $250 million of equity, mezzanine, or credit capital in companies with annual revenues of $100 to $800 million. Sectors of interest include industrial equipment, packaging, chemicals, automotive and transportation parts and equipment, food and food processing, healthcare, plastics, aerospace/defense, distribution, environmental and infrastructure services, and consumer products. The Firm avoids investing in real estate, fashion, retail, and businesses engaged in high technology. Littlejohn prefers opportunities located in the US, but also considers opportunities in Europe and Canada. Littlejohn was formed in 1996 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 40 of 48
Sector (Transportation) 3 of 3
Type (Secondary Buyout) 14 of 15
State (Florida) 1 of 1
Country (United States) 36 of 44
Year (2021) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-09 Outcome Health

Chicago, Illinois, United States

Outcome Health’s mission is to activate health outcomes through technologies that change behavior to positively shape the human condition. The Company serves health information and health intelligence during critical moments of care to enable patients and physicians to make the best healthcare decision possible. Outcome Health was formed in 2006 and is based in Chicago, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-04 HydroChemPSC

Deer Park, Texas, United States

HydroChemPSC is a national provider of industrial cleaning, specialty maintenance services, and technology solutions to the critical energy infrastructure in the United States. The company has built a strong business platform by partnering with clients who value safety, the most modern and productive equipment in the industry, a deep bench of engineering talent, and the highest standards for environmental compliance. It works as partners to transparently identify ways to reduce wastes, costs, and liabilities. HydroChemPSC was formed in 1977 and is based in Deer Park, Texas.

Sell $1.3B