M&A Deal Summary

Calera Capital Acquires TA Operating

On May 1, 1992, private equity firm Calera Capital acquired transportation company TA Operating

Acquisition Highlights
  • This is Calera Capital’s 1st transaction in the Transportation sector.
  • This is Calera Capital’s 2nd transaction in the United States.
  • This is Calera Capital’s 1st transaction in Ohio.
Investment Fate
  • TA Operating was sold to a consortium of financial buyers in 1996.

M&A Deal Summary

Date 1992-05-01
Target TA Operating
Sector Transportation
Buyer(s) Calera Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

TA Operating

West Lake, Ohio, United States
TA Operating LLC d/b/a Petro Stopping Centers is a leading operator of large, full-service truck stops with a nationwide network of facilities in 27 states. Through an investment banking firm, Petro’s founder and chairman, Jack Cardwell, Sr. contacted Chartwell. Cardwell wanted to replace his existing partner with someone who would work with him to enhance management and refinance the company for growth.

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Buyer(S) 1

Buyer

Calera Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Calera Capital Partners LP is a private equity firm that targets investments in mid-sized North American businesses valued up to $750 million. Calera Capital looks to invest at least $35 million of equity capital per transaction. Target industries include manufacturing, software, healthcare, consumer products and services. Prospective transaction situations include leveraged recapitalizations of privately held companies, restructurings, growth financings/acquisitions, corporate spin-offs, and take-private situations. Calera seeks businesses with leading market positions, attractive margins, and strong organic growth. Calera Capital was formerly known as Fremont Partners, a unit of the Fremont Group. Calera Capital was formed in 1991 and has offices in San Francisco, California and Boston, Massachusetts.


DEAL STATS #
Overall 2 of 36
Sector: Transportation M&A 1 of 4
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 23
State: Ohio M&A 1 of 3
Country: United States M&A 2 of 33
Year: 1992 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1991-08-01 Crown Pacific Partners

Portland, Oregon, United States

Crown Pacific is an integrated, solid-wood forest products producer with operations in three primary segments – timberlands, lumber manufacturing and wholesale marketing, and distribution of forest products.Calera Capital acquired Crown Pacific, Gilchrist and Crown Inland (collectively 'Crown Pacific Partners') in August 1991, September 1991, and September 1993, respectively. Crown accessed public equity capital through an IPO in December of 1994.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1993-05-14 Coldwell Banker Real Estate

Parsippany, New Jersey, United States

Coldwell Banker has been the premier provider of full service real estate since 1906. The Coldwell Banker system has more than 3,500 residential and commercial real estate offices with over 105,000 Sales Associates globally. Each office is independently owned and operated except for offices owned and operated by NRT Incorporated. The company is an industry leader in residential real estate and in niche markets such as resort, new homes and especially luxury properties through its Coldwell Banker Previews International® division.

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