M&A Deal Summary

Blue Sage Capital Acquires Geo-Solutions

On November 14, 2023, private equity firm Blue Sage Capital acquired construction company Geo-Solutions from RAF Industries

Acquisition Highlights
  • This is Blue Sage Capital’s 1st transaction in the Construction sector.
  • This is Blue Sage Capital’s 27th transaction in the United States.
  • This is Blue Sage Capital’s 2nd transaction in Pennsylvania.

M&A Deal Summary

Date 2023-11-14
Target Geo-Solutions
Sector Construction
Buyer(s) Blue Sage Capital
Sellers(s) RAF Industries
Deal Type Secondary Buyout
Advisor(s) FMI Capital Advisors (Financial)

Target

Geo-Solutions

New Kensington, Pennsylvania, United States
Geo-Solutions is a provider of highly specialized geotechnical services to the global environmental and civil engineering industries. The company’s environmentally friendly services and technologies assist engineers, consultants, contractors, and site owners by providing cost-effective and practical solutions for difficult soil and groundwater problems. Geo-Solutions was founded in 1996 and is based in New Kensington, Pennsylvania.

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Buyer(S) 1

Buyer

Blue Sage Capital

Austin, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Blue Sage Capital is a private investment firm that invests in lower middle-market companies that have the potential to become market leaders. Target businesses typically generate sales of $20 to $125 million and are valued up to $125 million. Blue Sage is a generalist firm with broad industry interest. Target sectors include industrial, distribution, service, healthcare, manufacturing, energy and media. Blue Sage geographically prefers companies located in Texas and the Southwest US. Blue Sage will not invest in banks, life insurance companies, oil and gas exploration and development projects, real estate development or companies located outside of the United States. Blue Sage was formed in 2003 and is based in Austin, Texas.


DEAL STATS #
Overall 28 of 29
Sector (Construction) 1 of 1
Type (Secondary Buyout) 6 of 6
State (Pennsylvania) 2 of 2
Country (United States) 27 of 28
Year (2023) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-21 NexGen Financial

Malibu, California, United States

NexGen Financial provides flexible capital solutions to debt settlement companies. NexGen Financial offers creative capital solutions uniquely developed for the debt settlement industry. NexGen Financial was founded in 2018 and is based in Malibu, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-24 MHW

Manhasset, New York, United States

MHW is a beverage alcohol importer, distributor, and service provider with licenses in all 50 states, MHW is the preferred partner for established and aspiring brands in wine, spirits, and beer. MHW works with suppliers in over 80 countries, providing operations, logistics, compliance, sales distribution, marketing, and new brand development for their clients. MHW was founded in 1934 and is based in Manhasset, New York.

Buy -

Seller(S) 1

SELLER

RAF Industries

Bala Cynwyd, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1979
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

RAF Industries is a private investment group focused on acquiring manufacturing and service-oriented companies that produce both industrial and consumer products in the US. The company has a preference for businesses with strong management wishing to partner with RAF post-acquisition. For platform acquisitions, RAF generally looks for businesses with at least $5 million in cash-flow. The Firm targets businesses valued from $15 to $150 million. RAF Industries is particularly interested in the areas of building and DIY products, products, and services geared towards enhancing the elderly population's lifestyle, as well as products or services provided to high-end consumers. RAF Industries was formed in 1979 and is based in Bala Cynwyd, Pennsylvania.


DEAL STATS #
Overall 15 of 15
Sector (Construction) 2 of 2
Type (Secondary Buyout) 3 of 3
State (Pennsylvania) 4 of 4
Country (United States) 15 of 15
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-01 Automated Systems Design

Alpharetta, Georgia, United States

Automated Systems Design is a provider of design, engineering and project management services specializing in IT, audio/visual and security system installations. Automated Systems Design was founded in 1986 and is based in Alpharetta, Georgia.

Buy -