M&A Deal Summary

Flexpoint Ford Acquires Purchasing Power

On December 7, 2016, private equity firm Flexpoint Ford acquired business services company Purchasing Power from Onex Falcon and Rockbridge Growth Equity

Acquisition Highlights
  • This is Flexpoint Ford’s 3rd transaction in the Business Services sector.
  • This is Flexpoint Ford’s 25th transaction in the United States.
  • This is Flexpoint Ford’s 1st transaction in Georgia.

M&A Deal Summary

Date 2016-12-07
Target Purchasing Power
Sector Business Services
Buyer(s) Flexpoint Ford
Sellers(s) Onex Falcon
Rockbridge Growth Equity
Deal Type Secondary Buyout
Advisor(s) Lazard Middle Market
Jefferies (Financial)
Honigman (Legal)

Target

Purchasing Power

Atlanta, Georgia, United States
Purchasing Power is a voluntary benefits provider for employers, whose services enable employees to purchase large ticket items such as computers, electronics, appliances, and furniture through a monthly payroll deduction. Purchasing Power was founded in 2001 and is based in Atlanta, Georgia.

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Buyer(S) 1

Buyer

Flexpoint Ford

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 7.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

Flexpoint Ford is a private equity firm focused on investments in healthcare and financial services companies. Flexpoint prefers control based investments and looks to commit $50 to $500 million per transaction. The Firm is flexible when it comes to investment structure and asset class. Flexpoint Ford was formed in 2005 and is based in Chicago, Illinois.


DEAL STATS #
Overall 26 of 54
Sector (Business Services) 3 of 6
Type (Secondary Buyout) 4 of 13
State (Georgia) 1 of 1
Country (United States) 25 of 48
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-12 Service Finance

Boca Raton, Florida, United States

Service Finance originates and services prime and super-prime installment contracts to finance home improvement projects in the U.S. Originations are sourced through exclusive national vendor programs with top manufacturers and dealers. Service Finance was formed in 2004 and is based in Boca Raton, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-02 Select Rehabilitation

Glenview, Illinois, United States

Select Rehabilitation is a provider of contract rehabilitation therapy services in the United States. Select Rehabilitation provides physical therapy, occupational therapy, and speech therapy services in the long-term care sector, primarily to clients in skilled nursing facilities, continuing care retirement communities, outpatient settings, and home health settings. Select Rehabilitation was founded in 1999 and is based in Glenview, Illinois.

Buy -

Seller(S) 2

SELLER

Onex Falcon

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Onex Falcon is a mezzanine finance firm that provides junior capital for North American businesses. Falcon looks to provide $30 to $150 million of subordinated debt to companies with EBITDA of at least $10 million. Falcon has no specific industry focus. Investment proceeds are typically used to support LBOs/MBOs, growth and acquisition financings, restructuring, recapitalizations, take privates, and generational ownership transfers. Onex Falcon was formed in 2000 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 26 of 35
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 7 of 8
State (Georgia) 2 of 3
Country (United States) 26 of 35
Year (2016) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-17 Bellisio Foods

Duluth, Minnesota, United States

Bellisio Foods, Inc. is a manufacturer of branded and private label frozen foods.

Sell $1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-31 Qology Direct

Margate, Florida, United States

Qology Direct is an Internet-based consumer direct marketing platform for diversified home services including cable, satellite television, Internet, telecommunications, home security, technology support, and moving services. Qology Direct is based in Margate, Florida.

Sell -
SELLER

Rockbridge Growth Equity

Detroit, Michigan, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2007
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Rockbridge Growth Equity is a private equity firm focused on growth businesses in service-driven industries. Areas of interest include consumer direct marketing, business services, financial services, and sports/media/entertainment companies. Rockbridge's target investment size is $20 to $100 million. The Firm prefers control positions but will consider select minority investments. Rockbridge Growth Equity was formed in 2007 and is based in Livonia, Michigan.


DEAL STATS #
Overall 4 of 8
Sector (Business Services) 1 of 2
Type (Secondary Buyout) 2 of 3
State (Georgia) 1 of 1
Country (United States) 4 of 8
Year (2016) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-13 Triad Retail Media

Tampa, Florida, United States

Triad Retail Media is a provider of digital advertising monetization solutions by partnering with ecommerce retailers to provide brand advertisers with access to ad space and the ecommerce shopper universe. Triad Retail Media is based in Tampa, Florida.

Sell $300M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-30 Robb Report Media

Los Angeles, California, United States

Robb Report Media LLC is a provider of publishing businesses for more than two decades. Robb Report Media with its current family of publications serves the ultra-luxury markets with a powerful network of leading lifestyle publications, including the world's most acclaimed journal of connoisseurship, Robb Report, as well as The Robb Report Collection, Art & Antiques, Robb Report Sports and Luxury Auto and Robb Report Vacation Homes. Robb Report Media is based in Los Angeles, California.

Sell -