M&A Deal Summary

Cortec Group and Antares Capital Acquire Four Seasons

On November 18, 2022, private equity firms Cortec Group and Antares Capital acquired business services company Four Seasons

Acquisition Highlights
  • This is Cortec Group’s 5th and Antares Capital’s 5th transaction in the Business Services sector.
  • This is Cortec Group’s 46th and Antares Capital’s 54th transaction in the United States.
  • This is Cortec Group’s 5th and Antares Capital’s 7th transaction in Illinois.

M&A Deal Summary

Date 2022-11-18
Target Four Seasons
Sector Business Services
Buyer(s) Cortec Group
Antares Capital
Deal Type Recapitalization
Advisor(s) Cowen Group, Inc. (Financial)

Target

Four Seasons

Chicago, Illinois, United States
Four Seasons is a provider of residential HVAC replacement and repair services including Chicagoland HVAC installation, Chicagoland HVAC repair, and air quality solutions. Four Seasons was formed in 1971 and is based in Chicago, Illinois.

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Buyer(S) 2

Buyer

Cortec Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 6.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cortec Group is a private equity firm focused on acquiring mid-sized businesses operating in basic industries. Cortec Group is an experienced and knowledgeable investor in healthcare products and services, B2C and B2B products, value-added distribution (including eCommerce), and specialty services companies with equity of $100-$500 million and EBITDA of $10 to $50 million. Cortec Group was formed in 1984 and is based in New York City.


DEAL STATS #
Overall 47 of 49
Sector (Business Services) 5 of 5
Type (Recapitalization) 10 of 11
State (Illinois) 5 of 5
Country (United States) 46 of 48
Year (2022) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-01 Rotating Machinery Services

Bethlehem, Pennsylvania, United States

Rotating Machinery Services is a provider of specialty aftermarket repair, maintenance, and overhaul services for large, highly engineered rotating machinery. RMS’s solutions improve performance and extend the useful life of complex machinery used in customers’ critical industrial processes. Rotating Machinery Services was founded in 1997 and is based in Bethlehem, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-22 A1 Garage Door Service

Phoenix, Arizona, United States

A1 Garage Door Service is a provider of residential repair and replacement garage door services. A1 Garage Door Service was founded in 2007 and is based in Phoenix, Arizona.

Buy -
Buyer

Antares Capital

Miami, Florida, United States

Investor Investor


Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Antares Capital is a private investment group that targets growth capital financings as well as management buyout opportunities. The Firm focuses on investments based in the Southeast US and Texas. Prospective companies generally have proven business models, modest capital requirements for growth, and operate in large and growing markets. The Firm looks to commit $500k to $5 million per investment. Antares will not invest in real estate, mineral exploration, distributors, franchisees, or project financings. Antares was founded in 1993 and is based in Miami, Florida.


DEAL STATS #
Overall 55 of 55
Sector (Business Services) 5 of 5
Type (Recapitalization) 4 of 4
State (Illinois) 7 of 7
Country (United States) 54 of 54
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-18 VLS Environmental Solutions

Houston, Texas, United States

VLS Environmental Solutions is a provider of waste treatment and recycling, and interior railcar cleaning services. VLS Environmental Solutions also provides customized processing solutions for non-hazardous waste, including waste-to-energy and other landfill diversion programs, solidification of liquid waste, recycling, and wastewater treatment. VLS Environmental Solutions was founded in 2007 and is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-28 Venturi Restoration

Schaumburg, Illinois, United States

Venturi Restoration is a property reconstruction and renovation industries serving thousands of residential, commercial and multi-family customers from United States. Venturi Restoration was founded in1997 and is based in Schaumburg, Illinois.

Sell -