M&A Deal Summary

Capitala Group and Battle Investment Group Acquire TRS Global Services

On March 13, 2024, asset manager Capitala Group and private equity firm Battle Investment Group acquired business services company TRS Global Services from Knox Capital and Tuckerman Capital

Acquisition Highlights
  • This is Capitala Group’s 11th and Battle Investment Group’s 2nd transaction in the Business Services sector.
  • This is Capitala Group’s 95th and Battle Investment Group’s 5th transaction in the United States.
  • This is Capitala Group’s 6th and Battle Investment Group’s 1st transaction in Texas.

M&A Deal Summary

Date 2024-03-13
Target TRS Global Services
Sector Business Services
Buyer(s) Capitala Group
Battle Investment Group
Sellers(s) Knox Capital
Tuckerman Capital
Deal Type Secondary Buyout

Target

TRS Global Services

Houston, Texas, United States
TRS Global Services provides repair services on a wide range of turbines in a variety of applications. It is specialized in providing component repair and manufacturing processes for industrial, aeroderivative and aircraft gas turbines. TRS Global Services is based in Houston, Texas.

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Buyer(S) 2

Buyer

Capitala Group

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1998
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Capitala Group is an asset manager that provides equity and mezzanine capital to mid-sized companies valued up to $250 million. Funds are generally used to support growth needs, add-on acquisitions, management/leveraged buyouts, and recapitalizations. Capitatala will invest across the US, but generally targets opportunities located in the Southeast. Industry preferences include building products, business services, consumer/reteail, general industrial, healthcare, and technology. Prospective companies typically have revenues greater than $10 million and EBITDA of at least $3 million. Capitala was formed in 1998 and is headquartered in Charlotte, North Carolina.


DEAL STATS #
Overall 96 of 98
Sector (Business Services) 11 of 11
Type (Secondary Buyout) 9 of 9
State (Texas) 6 of 6
Country (United States) 95 of 97
Year (2024) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-14 Tactical Air Support

Reno, Nevada, United States

Tactical Air Support is a defense contractor providing consulting, adversary flight support, military training, and maintenance services to the US military forces and certain US allied governments. Tactical Air Support is based in Reno, Nevada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-26 Champion Wellness Centers

Oldsmar, Florida, United States

Champion Wellness Centers operates seven wellness centers specializing in comprehensive chiropractic services. In addition to its chiropractic wellness centers, Champion operates an eighth clinic that specializes in multidisciplinary services, including physical therapy, shockwave therapy, trigger point injections and regenerative medicine in addition to chiropractic treatment. Champion Wellness Centers is based in Oldsmar, Florida.

Buy -
DESCRIPTION

Battle Investment Group is a private investment firm focused on the aerospace, defense, and industrial sectors. The Firm seeks businesses with $5 to $100 million in sales headquartered throughout North America. Prospective transaction situations include family-owned companies, non-core divestitures, and forming new enterprises with strategic partners. Battle Investment Group was established in 2016 and is headquartered in Atlanta, Georgia.


DEAL STATS #
Overall 5 of 5
Sector (Business Services) 2 of 2
Type (Secondary Buyout) 2 of 2
State (Texas) 1 of 1
Country (United States) 5 of 5
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-04 Bart & Associates

McLean, Virginia, United States

Bart & Associates is a provider of enterprise software solutions. Bart & Associates was founded in 1988 and is based in McLean, Virginia.

Buy -

Seller(S) 2

SELLER
DESCRIPTION

Knox Capital Holdings is a private equity firm focused on investing in family, founder, and entrepreneur-owned middle market businesses. Knox looks to acquire interests in engineered manufacturing, distribution and select business services companies with $15 to $100 million of revenue and $3 to $15 million of EBITDA. Knox will consider both majority or minority positions. Knox Capital is based in Chicago, Illinois.


DEAL STATS #
Overall 3 of 3
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Texas) 1 of 1
Country (United States) 3 of 3
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-10 GOdeeds

Clarence, New York, United States

GOdeeds is a provider of attorney prepared documents for some of the nations largest relocation companies, settlement service providers, lenders, title insurance companies and mortgage brokers. GOdeeds is based in Clarence, New York.

Buy -
SELLER

Tuckerman Capital

Hanover, New Hampshire, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
Size Small
Type Sector Focused
DESCRIPTION

Tuckerman Capital is a private investment firm that targets smaller manufacturing companies, with a special interest in businesses that manufacture highly-engineered, non-commodity products across a broad range of industries. Tuckerman will also consider investments in niche service and distribution businesses. Tuckerman relies on deal partners to help source potential transactions. Tuckerman Capital is based in Hanover, New Hampshire.


DEAL STATS #
Overall 13 of 14
Sector (Business Services) 2 of 2
Type (Secondary Buyout) 3 of 4
State (Texas) 3 of 3
Country (United States) 13 of 14
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-28 Six15

Henrietta, New York, United States

Six15 is a technology company that designs, develops, and manufactures head-up displays (HUDs) for enterprise and defense users operating in the world’s most demanding environments. Six15 was founded in 2012 and is based in Henrietta, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-07 Verdantas

Dublin, Ohio, United States

Verdantas provides engineering, science, & planning consultants dedicated to making the world a better place for ourselves and future generations. Verdantas was founded in 2020 and is based in Dublin, Ohio.

Sell -