M&A Deal Summary

Basalt Infrastructure Partners Acquires Fortbrand Services

On September 14, 2023, infrastructure investor Basalt Infrastructure Partners acquired business services company Fortbrand Services from Wincove Private Holdings and The Firmament Group

Acquisition Highlights
  • This is Basalt Infrastructure Partners’ 1st transaction in the Business Services sector.
  • This is Basalt Infrastructure Partners’ 6th transaction in the United States.
  • This is Basalt Infrastructure Partners’ 1st transaction in New York.

M&A Deal Summary
Date 2023-09-14
Target Fortbrand Services
Sector Business Services
Buyer(s) Basalt Infrastructure Partners
Sellers(s) Wincove Private Holdings
The Firmament Group
Deal Type Secondary Buyout

Target

Fortbrand Services

Plainview, New York, United States
Fortbrand Services is a provider of maintenance and support equipment for the global aviation industry. Fortbrand’s Ground Support Equipment business provides sales, leasing, and short-term rentals of mission-critical ground support equipment to airlines, ground handling companies, and fixed base operators. The Company’s Airfield Maintenance Equipment business distributes and leases snow removal and maintenance equipment to airports. Fortbrand Services was founded in 1983 and is based in Plainview, New York.

Search 201,292 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) 1

Buyer

Basalt Infrastructure Partners

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2011
PE ASSETS 2.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Basalt Infrastructure Partners is an infrastucture investor focused on opportunities across North America and Europe. The Firm's principal areas of interest include utilities, energy, and transportation. Basalt prefers assets with significant barriers to entry, sustainable long-term cash-flows, and high operating margins. In addition to acquiring operational assets, the Basalt will also consider late stage construction projects. Basalt Infrastructure Partners was founded in 2011 and is headquartered in London.

DEAL STATS #
Overall 16 of 17
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 6 of 6
State (New York) 1 of 1
Country (United States) 6 of 7
Year (2023) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-14 Reconor

Farum, Denmark

Reconor is an environmental services group that provides environmentally safe recycling and helps municipalities with waste collection. The company reduces waste generation through the prevention, reduction, and reuse of material, and to reduce the use of natural resources through the application of circular economy principles. It remediates over 2.1 million tonnes of soil per year and handles over 0.8 million tonnes of mainly reusable waste, overseeing daily operations involving 230 trucks and 31,000 containers across Denmark. Reconor was formed in 1997 and is based in Farum, Denmark.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-13 AEP OnSite Partners

Columbus, Ohio, United States

AEP OnSite Partners is a provider of behind-the-meter solutions that assist customers in reducing their energy spend and achieving any other goals specifically tied to their energy consumption. The Company provides technical expertise, market knowledge, and investment capital for a geographically diverse array of energy projects, including solar, combined heat and power, energy storage, electrical substations, fuel cells, waste heat recovery, and peaking generation resources throughout the U.S.

Buy $315M

Seller(S) 2

SELLER

Wincove Private Holdings

New York, New York, United States

Investor Investor

Category Private Equity Firm
Founded 2008
Size Small
Type Sector Agnostic
DESCRIPTION

Wincove Private Holdings is an independent private equity firm that invests in smaller, profitable companies in partnership with management. Wincove looks to support family and/or seller succession transactions, recapitalizations, management buyouts, consolidations, and corporate divestitures. Wincove is a generalist firm, and will consider opportunities in a variety of industries. The Firm targets companies located in the US and Canada. Prospective companies typically have less then $50 million in revenue. Wincove Private Holdings was formed in 2008 and is based in New York City.

DEAL STATS #
Overall 9 of 10
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 5 of 5
State (New York) 2 of 2
Country (United States) 9 of 10
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-05 Rhino Tool House

Concord, North Carolina, United States

Rhino Tool House is a provider of high-performance assembly tools and material handling equipment used in heavy manufacturing. RTH’s distribution operations include assembly tool and material handling products focused on intelligent fastening solutions that provide data on productivity, performance, and safety. Rhino Tool House was founded in 2000 and is based in Concord, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-22 Integrated Warehouse Solutions

Fort Worth, Texas, United States

Integrated Warehouse Solutions is a manufacturer of material handling equipment focused on enhancing the safety and efficiency of loading docks and warehouses. The Company’s products, which include yard ramps, dock boards, pit levelers, seals and shelters, safety barriers, mezzanines, lift tables, pallet trucks, and carts, are sold under the leading Bluff, Wesco, and Nordock brands. IWS serves virtually every end market throughout the U.S., Canada, Central and South America, and the Caribbean through a broad distributor network supported by production facilities in Texas, Pennsylvania, Ohio, and Ontario (Canada).

Sell -
SELLER

The Firmament Group

Investor Investor Investor Investor Investor

Category Family Office
Founded 2012
Size Small
Type Sector Agnostic
DESCRIPTION

The Firmament Group is a family backed investment firm focused on providing equity and debt capital to small and medium-sized companies. Funds are generally used to finance leveraged buyouts, complete recapitalizations or restructurings, provide liquidity for organic growth, or finance add-on acquisitions. The Firmament Group was established in 2012 and is headquartered in New York City.

DEAL STATS #
Overall 5 of 6
Sector (Business Services) 1 of 2
Type (Secondary Buyout) 3 of 4
State (New York) 1 of 1
Country (United States) 5 of 6
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-24 Envase

Dover, New Hampshire, United States

Envase provides mission-critical, cloud-based transportation management systems ("TMS") enterprise software and mobile applications to the intermodal transportation industry, with a core focus on the drayage trucking niche. The software merges order entry, dispatch, container tracking, electronic data interchange (EDI), API connectivity, document imaging, invoicing, settlements, and business intelligence, among other functions, into a single, streamlined system providing carrier efficiencies and container visibility over the intermodal supply chain. Envase is based in Dover, New Hampshire.

Sell $230M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-03 Prime Providers

Culver City, California, United States

Prime Providers is a home-based healthcare organization providing private duty nursing, applied behavior analysis (aba) therapy, and related services to patients. Prime Providers was founded in 2018 and is based in Culver City, California.

Buy -
Mergr

Product

Company

Legal