Investment Summary

CIVC Partners and Audax Private Debt Invest In HR Green

On January 26, 2024, private equity firm CIVC Partners and mezzanine finance firm Audax Private Debt invested in infrastructure company HR Green

Investment Highlights
  • This is CIVC Partners’ 2nd and Audax Private Debt’s 2nd transaction in the Infrastructure sector.
  • This is CIVC Partners’ 71st and Audax Private Debt’s 105th transaction in the United States.
  • This is CIVC Partners’ 1st and Audax Private Debt’s 1st transaction in Iowa.

Investment Summary

Date 2024-01-26
Target HR Green
Sector Infrastructure
Investor(s) CIVC Partners
Audax Private Debt
Deal Type Growth Capital
Advisor(s) AEC Advisors (Financial)

Target

HR Green

Cedar Rapids, Iowa, United States
HR Green provides infrastructure design, engineering, and consulting services to public and private sector clients across transportation, water, municipal advisory, broadband, and land development end markets. HR Green brings engineering, technical, and management solutions to clients across the Midwest, South, Mountain West, and California regions. HR Green was formed in 1913 and is based in Cedar Rapids, Iowa.

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Investor(S) 2

Investor

CIVC Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1970
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

CIVC Partners is a private equity firm that provides buyout and growth capital to middle-market businesses located in the US and Canada. CIVC invests in companies generating sales of $40 - $300 million with an EBITDA of $5 to $25 million. Sectors of interest include Business Services, Information Services, Facility Services, Insurance Services, Transportation & Logistics, Tech-enabled Services, BPO, SaaS, Compliance Services, Corporate Training, IT Services, and Utility Services. The firm invests in the range of $20 - $100 million per transaction. CIVC prefers to be the lead equity sponsor and will consider both majority and minority investment situations. CIVC Partners was formed in 1970 and is based in Chicago, Illinois.


DEAL STATS #
Overall 75 of 77
Sector: Infrastructure M&A 2 of 2
Type: Growth Capital M&A Deals 14 of 15
State: Iowa M&A 1 of 1
Country: United States M&A 71 of 73
Year: 2024 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-16 Datavail

Broomfield, Colorado, United States

Datavail is a provider of remote database administration (DBA) services in North America. Datavail offers 24/7 managed database services, database design, architecture, and staffing. The company specializes in Oracle, Oracle E-Business Suite, Microsoft SQL Server, MySQL, MongoDB, DB2 and SharePoint, and provides flexible onsite, offsite, and offshore delivery options to meet each customer's unique business needs. Datavail was founded in 2007 and is based in Broomfield, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-15 Highstreet IT Solutions

Rockville, Maryland, United States

Highstreet IT Solutions is a provider of cloud-oriented managed IT services and enterprise software implementation services. Through a complete service portfolio, Highstreet assists enterprise clients as they transition to Cloud-based IT infrastructure and applications and supports their Cloud-based technologies on an ongoing basis. Highstreet IT Solutions was founded in 1996 and is based in Rockville, Maryland.

Buy -
Investor

Audax Private Debt

New York, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 5.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Mezzanine is the mezzanine finance arm of the Audax Group. The Firm focuses on investing in both private and public, US-based middle market companies with a strong history of cash flows and consistent revenue growth. Audax will consider subordinated mezzanine debt commitments, second lien or junior secured debt, preferred stock and common stock. The Firm seeks to invest in companies with EBITDA between $10 and $100 million. Types of transaction include MBOs, LBOs, growth capital financings, acquisition financings, and recapitalizations. Audax Private Debt is based in New York, New York.


DEAL STATS #
Overall 107 of 120
Sector: Infrastructure M&A 2 of 2
Type: Growth Capital M&A Deals 18 of 18
State: Iowa M&A 1 of 1
Country: United States M&A 105 of 118
Year: 2024 M&A 2 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-17 Market Performance Group

Princeton Junction, New Jersey, United States

Market Performance Group is an omnichannel commerce agency providing strategy and consulting services. MPG offers end-to-end omnichannel capabilities and integrated solutions for a wide range of strategy and commercialization needs, including strategy & business consulting, omnichannel strategy & services, business analytics & insights, consumer marketing & retail activation, order to cash/3 PL, and FleXforce. Market Performance Group was formed in 2002 and is headquartered in Princeton Junction, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-26 Prime Pensions

Florham Park, New Jersey, United States

Prime Pensions is an independent provider of retirement plan compliance and administration services primarily to small and medium-sized businesses. Prime Pensions is not affiliated with any investment product provider and does not offer investment advice. Prime Pensions is based in Florham Park, New Jersey.

Buy -