M&A Deal Summary

Boyne Capital Partners Acquires SageWater

On February 1, 2021, private equity firm Boyne Capital Partners acquired business services company SageWater from Grindstone Partners

Acquisition Highlights
  • This is Boyne Capital Partners’ 2nd transaction in the Business Services sector.
  • This is Boyne Capital Partners’ 18th transaction in the United States.
  • This is Boyne Capital Partners’ 2nd transaction in Virginia.

M&A Deal Summary
Date 2021-02-01
Target SageWater
Sector Business Services
Buyer(s) Boyne Capital Partners
Sellers(s) Grindstone Partners
Deal Type Recapitalization

Target

SageWater

Alexandria, Virginia, United States
SageWater is a provider of pipe restoration services on a continual basis to apartment and condominium buildings to stop infrastructure corrosion. SageWater has repiped more than 100,000 occupied multi-family residential units, replacing over 35 million feet of pipe in apartment complexes, condominiums, and office buildings. SageWater was founded in 1988 and is based in Alexandria, Virginia.

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Buyer(S) 1

Buyer

Boyne Capital Partners

Miami, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2006
Size Small
Type Sector Agnostic
DESCRIPTION

Boyne Capital Partners is a Florida-based investment group focused on smaller businesses with at least $2 million in cash-flow. Boyne targets companies in the US and Canada. Sectors of interest include niche manufacturing, specialty services (IT, healthcare, financial), value-added distribution, wastewater, 'next generation' energy, and restaurants. Boyne prefers control positions and will consider a variety of transaction situation, including buyouts, recapitalizations, divestitures, add-on acquisitions, and growth financings. Boyne was formed in 2006 and is based in Miami.

DEAL STATS #
Overall 18 of 27
Sector (Business Services) 2 of 3
Type (Recapitalization) 1 of 1
State (Virginia) 2 of 4
Country (United States) 18 of 26
Year (2021) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-26 Double Wood Supplements

Philadelphia, Pennsylvania, United States

Double Wood Supplements is a direct-to-consumer nutritional supplements company. Double Wood Supplements is based in Philadelphia, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-15 Masters Building Products

Fort Lauderdale, Florida, United States

Masters Building Products is a building products development, manufacturing, and distribution company. Masters uses eco-friendly materials in its products, offering over 100 flooring styles between interior and exterior applications, over 500 molding products that include decorative trims and transitions moldings, 25 installation products, and more than 30 outdoor products such as siding, decking, turf, and pavers. Masters Building Products was founded in 2006 and is based in Fort Lauderdale, Florida.

Buy -

Seller(S) 1

SELLER

Grindstone Partners

Alexandria, Virginia, United States

Investor

Category Private Equity Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

Grindstone Partners is a private equity firm specializing in buyouts and growth capital investments in small and mid market companies throughout the US. The Firm looks to invests $2 to $20 million equity per transaction. Areas of interest includes manufacturing, healthcare, direct marketing, telecommunication, software, building products and business services. Grindstone Partners was formed in 2009 and is based in Alexandria, Virginia.

DEAL STATS #
Overall 3 of 3
Sector (Business Services) 1 of 1
Type (Recapitalization) 1 of 1
State (Virginia) 3 of 3
Country (United States) 3 of 3
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-26 Fulcrum IT Services

Centreville, Virginia, United States

Fulcrum IT Services is an information technology (IT) company that provides IT solutions and services for federal, state, local, and commercial customers. Fulcrum IT specializes in the areas of enterprise systems operations, system and application development, data management solutions, information and infrastructure assurance and intelligence analysis and methodologies.

Sell $193M
Mergr

Product

Company

Legal