M&A Deal Summary

CM Equity Partners and Spring Capital Partners Acquire Solerity

On September 5, 2007, private equity firm CM Equity Partners and mezzanine finance firm Spring Capital Partners acquired information technology company Solerity

Acquisition Highlights
  • This is CM Equity Partners’ 1st and Spring Capital Partners’ 1st transaction in the Information Technology sector.
  • This is CM Equity Partners’ 4th and Spring Capital Partners’ 10th transaction in the United States.
  • This is CM Equity Partners’ 3rd and Spring Capital Partners’ 1st transaction in Virginia.

M&A Deal Summary

Date 2007-09-05
Target Solerity
Sector Information Technology
Buyer(s) CM Equity Partners
Spring Capital Partners
Deal Type Recapitalization
Advisor(s) Outcome Capital (Financial)

Target

Solerity

McLean, Virginia, United States
Solerity is a provider of Information Technology services, engineering logistics management support and consulting services to federal and civilian government agencies and commercial customers. Solerity was founded in 1991 and is based in McLean, Virginia.

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Buyer(S) 2

Buyer

CM Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

CM Equity Partners is a private equity investment firm that primarily makes controlling investments in middle-market companies operating in the United States and Canada. CM will also selectively consider minority investments. Areas of interest include Federal Services, Aerospace, and Defense. CM Equity was formed in 1994 and is affiliated with the private family office and merchant bank Carl Marks & Co.


DEAL STATS #
Overall 4 of 9
Sector (Information Technology) 1 of 2
Type (Recapitalization) 1 of 2
State (Virginia) 3 of 5
Country (United States) 4 of 9
Year (2007) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-29 RGS Associates

Arlington, Virginia, United States

RGS is a provider of tangible business results in Program Management, Acquisition, Logistics, Human Capital, and Information Technology for DoD, DHS, DOJ and Department of State. RGS applies its deep expertise to deliver intelligent solutions to meet some of government’s greatest challenges.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-21 Martin Designs

Ashland, Ohio, United States

Martin Designs provided the design and distribution of high value, low price point stationery.

Sell -
Buyer

Spring Capital Partners

Lutherville, Maryland, United States

Investor Investor


Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Spring Capital Partners is a mezzanine finance provider for small to medium-sized businesses. Spring invests $2 to $20 million, primarily in the form of subordinated debt with equity features in each transaction. The Firm does not have an industry focus. Spring Capital looks for businesses located in the Mid-Atlantic US with revenues between $10 and $150 million. Spring Capital Partners was formed in 1999 and has offices in Baltimore, Maryland and Radnor, Pennsylvania.


DEAL STATS #
Overall 10 of 45
Sector (Information Technology) 1 of 1
Type (Recapitalization) 1 of 11
State (Virginia) 1 of 4
Country (United States) 10 of 45
Year (2007) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-15 Drew Foam

Monticello, Arkansas, United States

Drew Foam is a provider of custom-fabricated expanded polystyrene foam ("EPS") products serving the packaging, building products, and consumer end-markets, primarily in the Southeastern United States. Drew Foam was founded in 1965 and is based in Monticello, Arkansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-09 Global Critical Logistics

Lititz, Pennsylvania, United States

Global Critical Logistics is a provider of freight forwarding and logistics to the music touring, fine arts, sports & live events, film & TV production, corporate events, and industrial projects end markets through its family of affiliated brands including Rock-it Global, Dietl, Cosdel, CargoLive, and Dynamic International. Through its offices in the US, UK, Australia, Belgium, Brazil, Chile, China, Colombia, Germany, Japan, Mexico, Netherlands, and Peru, augmented by a network of foreign agents specializing in live events, GCL serves thousands of customers per year with specialized freight solutions on all seven continents. Global Critical Logistics was founded in 1978 and is based in Lititz, Pennsylvania.

Buy -