M&A Deal Summary

Comvest Partners Acquires Flash Global

On December 15, 2022, private equity firm Comvest Partners acquired transportation company Flash Global from HSBC Capital and Graycliff Partners

Acquisition Highlights
  • This is Comvest Partners’ 2nd transaction in the Transportation sector.
  • This is Comvest Partners’ 54th transaction in the United States.
  • This is Comvest Partners’ 1st transaction in New Jersey.

M&A Deal Summary

Date 2022-12-15
Target Flash Global
Sector Transportation
Buyer(s) Comvest Partners
Sellers(s) HSBC Capital
Graycliff Partners
Deal Type Secondary Buyout
Advisor(s) G2 Capital Advisors (Financial)
Moore & Van Allen (Legal)

Target

Flash Global

Parsippany, New Jersey, United States
Flash Global is an asset-light, third-party logistics provider. The company focuses on processing, facilitating and managing the delivery of high-velocity, time-sensitive critical parts. Flash Global was founded in 1983 and is based in Parsippany, New Jersey.

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Buyer(S) 1

Buyer

Comvest Partners

West Palm Beach, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 7.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Comvest Partners' headquarters in West Palm Beach, Florida.
Comvest Partners' headquarters in West Palm Beach, Florida.

Comvest Partners is a private investment firm that provides equity and debt capital to middle-market companies across North America. Comvest funds a variety of investment situations, including buyouts, divestitures, recapitalizations, consolidations, take privates, and turnarounds. Sectors of interest include business services, information services, education, financial services, healthcare services, software, IT, and transportation. For equity investments, Comvest prefers control and looks to invest $50 to $150 million per transaction. For debt needs, Comvest seeks to provide $25 to $250 million per transaction. Comvest Partners was formed in 2000 and is based in West Palm Beach, Florida.


DEAL STATS #
Overall 55 of 60
Sector (Transportation) 2 of 2
Type (Secondary Buyout) 10 of 11
State (New Jersey) 1 of 1
Country (United States) 54 of 59
Year (2022) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-13 Duke’s Root Control

Elgin, Illinois, United States

Duke’s Root Control is a nationwide service provider that identifies and eliminates sewer system blockages and I&I (Inflow & Infiltration), extending the life of your critical infrastructure assets. Duke’s Root Control is based in Elgin, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-27 Your Behavioral Health

Torrance, California, United States

Your Behavioral Health is a regional behavioral health services platform that provides comprehensive best-in-class services for adults and teens across the continuums of mental health and addiction treatment. Your Behavioral Health is based in Torrance, California.

Buy -

Seller(S) 2

SELLER

HSBC Capital

New York, New York, United States

Category Private Equity Firm
Founded 1991
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

HSBC Capital (North America) the US and Canada principal investments arm of HSBC. HSBC Capital consists of HSBC Capital Canada and HSBC Capital USA. The Group focuses on making private equity and mezzanine investments in profitable, mid-market companies and select real estate transactions. The Group will consider both control and minority positions. Investment proceeds are generally used to support buyouts, expansion financings, recapitalizations, and real estate acquisitions. In addition to targeting US based opportunities, the Group will also consider investments in Latin America. Broad sectors of interest include manufacturing, service, and distribution. HSBC Capital was formed in 1991 and is based in New York City, HSBC Capital has become Graycliff partners on Dec 2011.


DEAL STATS #
Overall 17 of 17
Sector (Transportation) 1 of 1
Type (Secondary Buyout) 6 of 6
State (New Jersey) 1 of 1
Country (United States) 17 of 17
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-06 Jet LithoColor

Downers Grove, Illinois, United States

Jet Lithocolor is one of the largest printers of plastic gift, loyalty and prepaid cards. Through uniquely applied technologies, Jet engineers, manufactures, and delivers the best in end-to-end solutions for gift, loyalty, membership, and other card programs. With headquarters and operations in the suburbs of Chicago, Jet is well positioned to support their national client base

Sell -
SELLER

Graycliff Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Graycliff Partners is a private equity firm focused on private equity and mezzanine investments in middle-market companies throughout the US. The Firm's mezzanine practice does not have any sector preferences and looks to invest $10 to $50 million in profitable companies with at least $10 million in revenue. Funds are used to support buyouts, growth needs, divestitures, or consolidations. Graycliff's private equity group looks to acquire middle-market companies in the manufacturing, service, and distribution sectors. The Firm looks for businesses with $10 to $200 million of revenue. Graycliff Partners was established in 1991 and is based in New York City.


DEAL STATS #
Overall 31 of 36
Sector (Transportation) 2 of 2
Type (Secondary Buyout) 10 of 12
State (New Jersey) 2 of 3
Country (United States) 28 of 33
Year (2022) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-04 Worldwide Electric

Rochester, New York, United States

WorldWide Electric designs, engineers, and distributes company-branded as well as third party-branded electric motors, motor controls, and gear reducers and has developed a highly proficient sales & marketing team, strong engineering, and product development capabilities. The company sells to a diversified customer base of over 4,000 integrators, OEMs, and distributors serving a wide array of industrial end-markets. WorldWide Electric was founded in 1998 and is based in Rochester, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-29 Republic Electric

Davenport, Iowa, United States

Republic Electric is a distributor of HVAC and electrical equipment and related components for use in residential, commercial, and industrial applications. Republic Electric was founded in 1916 and is based in Davenport, Iowa.

Buy -