M&A Deal Summary

Brightstar Capital Partners Acquires XLerate Group

On September 2, 2021, private equity firm Brightstar Capital Partners acquired business services company XLerate Group from Huron Capital

Acquisition Highlights
  • This is Brightstar Capital Partners’ 2nd transaction in the Business Services sector.
  • This is Brightstar Capital Partners’ 9th transaction in the United States.
  • This is Brightstar Capital Partners’ 1st transaction in Indiana.

M&A Deal Summary
Date 2021-09-02
Target XLerate Group
Sector Business Services
Buyer(s) Brightstar Capital Partners
Sellers(s) Huron Capital
Deal Type Secondary Buyout
Advisor(s) Honigman (Legal)

Target

XLerate Group

Carmel, Indiana, United States
XLerate Group is an auction and remarketing facilitation company facilitating transactions between buyers and sellers at its Internet-enabled physical and private label remote sales in California, Texas, Florida, South Carolina, Michigan, Wisconsin, Georgia, Illinois, and Pennsylvania. XLerate Group was founded in 2010 and is based in Carmel, Indiana.

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Buyer(S) 1

Buyer

Brightstar Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2015
PE ASSETS 4.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Brightstar Capital Partners is a middle-market private equity firm focused on partnering with closely held and family-owned companies. Sectors of interest include business services, consumer products/services, and industrials. Brightstar Capital Partners was established in 2015 and is based in New York City.

DEAL STATS #
Overall 9 of 16
Sector (Business Services) 2 of 3
Type (Secondary Buyout) 2 of 5
State (Indiana) 1 of 2
Country (United States) 9 of 15
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-16 QualTek Services

Blue Bell, Pennsylvania, United States

QualTek Services is a provider of turnkey solutions, including engineering, installation, fulfillment, and program management, to the North American telecommunications and power sectors. QualTek provides end-to-end infrastructure services solutions to the wireline (NX Utilities), wireless (Empire Telecom and Velocitel), and residential and commercial fulfillment (QualSat and ACI) segments of the market. With experienced management, qualified field technicians, state-of-the-art data management systems, and a dedicated network of contractors, QualTek is a premier partner to some of the largest leading companies in the telecommunications and power industries. QualTek Services was founded in 2012 and is based in Blue Bell, Pennsylvania. QualTek Services commencement of voluntary proceedings under Chapter 11 of the United States Bankruptcy on May 24, 2023.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-15 Novae

Markle, Indiana, United States

Novae is a trailer manufacturer operating six distinct brands including Sure-Trac, H&H Trailers, CAM Superline, Trailerman, ITI Cargo and Midsota. Novae was founded in 1995 and is based in Markle, Indiana.

Buy -

Seller(S) 1

SELLER

Huron Capital

Detroit, Michigan, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Huron Capital Partners is a private equity firm that seeks to acquire or recapitalize niche manufacturers, value-added distributors and specialty service companies. Prospective transaction situations include management buyouts, corporate spin-offs, recapitalizations, family successions and consolidations. Huron prefers opportunities located in the US and Canada. Target companies typically have revenues between $20 and $200 million and EBITDA of at least $5 million. Huron can commit up to $10 million and $50 million of equity capital per transaction. Huron Capital Partners was formed in 1999 and has offices in Detroit, Michigan and Ontario, Canada.

DEAL STATS #
Overall 32 of 35
Sector (Business Services) 5 of 6
Type (Secondary Buyout) 14 of 16
State (Indiana) 1 of 1
Country (United States) 29 of 32
Year (2021) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-27 Valentus Specialty Chemicals

New Brunswick, New Jersey, United States

Valentus Specialty Chemicals, Inc. is a holding company focused on partnering with businesses with superior coatings technologies that can be applied in a broad range of niche end markets. Valentus Specialty Chemicals was founded in 2014 and is based in New Brunswick, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-10 Sciens Building Solutions

Pleasanton, California, United States

Sciens Building Solutions is a company focused on the fire detection and security services sector. This includes the design, installation, and provision of maintenance services for fire detection and clean agent fire suppression systems in a variety of commercial, institutional, and government facilities. Sciens Building Solutions was formed in 2015 and is based in Pleasanton, California.

Sell -
Mergr

Product

Company

Legal