Secondary Buyout • Financial Services

Fourshore Partners Acquires Celtic Capital

On April 29, 2022, private equity firm Fourshore Partners acquired financial services company Celtic Capital from Pine Tree Equity Partners

Acquisition Context
  • This is Fourshore Partners’ 3rd transaction in the Financial Services sector.
  • This is Fourshore Partners’ 4th transaction in the United States.
  • This is Fourshore Partners’ 1st transaction in California.

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M&A Deal Summary

Date April 29, 2022
Target Celtic Capital
Sector Financial Services
Buyer(s) Fourshore Partners
Sellers(s) Pine Tree Equity Partners
Deal Type Secondary Buyout

Target Company

Celtic Capital

Santa Monica, California, United States
Celtic Capital provides Asset Based Financing (ABF) to non-retail businesses in the Western United States that find it challenging to get traditional bank loans. Celtic´s credits range from $500,000 to $5 million and are used for various business needs such as working capital, sales growth, debt restructuring, DIP financing, turnarounds, among others and within various industries. Celtic Capital was founded in 1982 and is based in Santa Monica, California.
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Buyer Overview 1

DESCRIPTION

Fourshore Partners is the private equity group of Fourshore Capital. Fourshore targets companies generating between $2m and $15m of EBITDA with enterprise values between $10m and $75m. Sectors of interest include agribusiness, transportation, marine services, business services, niche manufacturing, distribution, and consumer. Fourshore Partner will consider businesses across the US but prefers opportunities in Florida and the Carribbean. Fourshore was founded in 2017 and is based in Coral Gables, Florida.


Deal Context for Buyer #
Overall 4 of 5
Sector: Financial Services 3 of 4
Type: Secondary Buyout 2 of 2
State: California 1 of 1
Country: United States 4 of 5
Year: 2022 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-14 Buske Logistics

Edwardsville, Illinois, United States

Buske Logistics operates as a trucking company that provides third-party logistics, centralized information management, alternative transportation, warehousing, sequencing, packaging, load consolidation, merchandise rollout, freight analysis, and supply chain management services. Buske Logistics was founded in 1923 and is based in Edwardsville, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-29 Power Funding

Miami, Florida, United States

Power Funding is a cash flow financing company that focuses on otr trucking, oilfield trucking and service, drayage, staffing, welding, paca, and much more. Power Funding is based in Miami, Florida.

Buy -

Seller Profile 1

SELLER

Pine Tree Equity Partners

Miami, Florida, United States

Category Private Equity Firm
Founded 2007
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION
Pine Tree Equity's corporate headquarters in Miami, Florida.
Pine Tree Equity's corporate headquarters in Miami, Florida.

Pine Tree Equity Partners is an investment firm focused on small-cap companies. Pine Tree generally looks to partner with management and typically invests $2 to $7 million per transaction. Areas of interest include business services, consumer services, financial services, consumer products, franchising, and niche manufacturing. Pine Tree Equity Partners was formed in 2007 and is based in Miami, Florida.


Deal Context for Seller #
Overall 12 of 14
Sector: Financial Services 3 of 3
Type: Secondary Buyout 7 of 7
State: California 2 of 2
Country: United States 12 of 14
Year: 2022 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-01 Suncoast Skin Solutions

Lutz, Florida, United States

Suncoast Skin Solutions provides comprehensive medical dermatology services across 19 Suncoast branded offices. Suncoast operates primarily within the large and growing, non-discretionary dermatology industry. Suncoast Skin Solutions was founded in 2008 and is based in Lutz, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-01 Premier Physician

Miami, Florida, United States

Premier Physician is a provider of primary care physician services primarily to Medicaid eligible patients across 10 counties in South and Central Florida. Premier oversees nearly 30,000 Medicaid and Medicare members through a network of over 90 general practitioners and 65 unique practices. Premier Physician was founded in 1998 and is based in Miami, Florida.

Buy -