Investment Summary

Blue Wolf Capital Partners and Yellow Point Equity Partners Exits State Group

On November 18, 2024, asset manager Apollo Global Management invested in engineering company State Group from Blue Wolf Capital Partners and Yellow Point Equity Partners

Investment Highlights
  • This is Apollo Global Management’s 2nd transaction in the Engineering sector.
  • This is Apollo Global Management’s 103rd transaction in the United States.
  • This is Apollo Global Management’s 5th transaction in Tennessee.

Investment Summary

Date 2024-11-18
Target State Group
Sector Engineering
Investor(s) Apollo Global Management
Sellers(s) Blue Wolf Capital Partners
Yellow Point Equity Partners
Deal Type Secondary Buyout
Advisor(s) Moelis & Co. (Financial)
Holland & Knight
Davies Ward Phillips & Vineberg (Legal)

Target

State Group

Franklin, Tennessee, United States
State Group is a multi-trade industrial and specialty services contractor that provides comprehensive electrical and mechanical trade services to Fortune 100 companies in the power generation, automotive, oil and gas, communications, metals and transportation industries. The State Group performs over two million man-hours annually of retrofit, maintenance, construction and emergency services and maintains a tooling and equipment inventory to support its skilled workforce. State Group was founded in 1961 and is based in Franklin, Tennessee.

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Investor(S) 1

Investor

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1990
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.


DEAL STATS #
Overall 142 of 151
Sector: Engineering M&A 2 of 2
Type: Secondary Buyout M&A Deals 32 of 38
State: Tennessee M&A 5 of 5
Country: United States M&A 103 of 108
Year: 2024 M&A 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-11 GI Alliance

Dallas, Texas, United States

GI Alliance is an independent gastroenterology practice in the US, measured both by provider count and by revenue, operating in Dallas, Fort Worth, Austin, San Antonio, Houston, and several metropolitan markets in Louisiana. GI Alliance was founded in 2018 and is based in Dallas, Texas.

Sell $2.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-07 GFL Environmental - Environmental Services Business

Vaughan, Ontario, Canada

GFL Environmental's Environmental Services Business offers industrial and waste management services. GFL Environmental's Environmental Services Business is based in Vaughan, Ontario.

Buy $8.0B

Seller(S) 2

SELLER

Blue Wolf Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 3.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Blue Wolf Capital Partners is a private equity investment firm that targets control investments in middle-market North American companies. Blue Wolf looks to commit at least $75 million of equity capital in businesses with minimum revenues of $100 million. Blue Wolf is a generalist firm with broad interest in service and applied engineering companies, capital equipment manufacturers, general manufacturing, financial services, paper products, and broadcast media. Blue Wolf will also consider distressed situation investments. The Firm does not invest in start-ups. Blue Wolf Capital Partners was formed in 2005 and is located in New York, New York.


DEAL STATS #
Overall 18 of 18
Sector: Engineering M&A 1 of 1
Type: Secondary Buyout M&A Deals 3 of 3
State: Tennessee M&A 1 of 1
Country: United States M&A 16 of 16
Year: 2024 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-11 Meribel Pharma Solutions

Entzheim, France

Meribel Pharma Solutions is a pharmaceutical contract development and manufacturing organization (CDMO). Meribel Pharma Solutions develops, manufactures, and packages drugs in various forms (solid, liquid…) on value-adding niches, specialized in small and medium-sized batches. Meribel Pharma Solutions was founded in 2001 and is based in Entzheim, France.

Buy -
SELLER

Yellow Point Equity Partners

Vancouver, British Columbia, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Yellow Point Equity Partners is a private equity group focused on management buyouts and growth investments in mid-sized companies located in Western Canada and the Northwest of the US. Yellow Point will consider opportunities in a wide range of sectors, including basic manufacturing, technology, communications, energy, financial, healthcare, and services. The Firm 'gravitates' towards businesses with established market positions and 'compelling' products. Yellow Point Equity Partners was formed in 2004 and is based in Vancouver, British Columbia.


DEAL STATS #
Overall 13 of 13
Sector: Engineering M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 2
State: Tennessee M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-01 MacKay CEO Forums

Vancouver, British Columbia, Canada

MacKay CEO Forums provides professionally facilitated peer learning groups for CEOs, executives, and business owners. The company accelerates the performance of results-oriented business leaders through its efficient time requirements and high-impact approach. MacKay CEO Forums’ groups are formed to leverage members’ complementary strengths, providing real-world solutions to challenges faced by executives at any stage of their career. MacKay CEO Forums was founded in 2005 and is based in Vancouver, British Columbia.

Sell -