M&A Deal Summary

Franchise Brands Acquires Pirtek UK

On May 1, 2023, Franchise Brands acquired business services company Pirtek UK from PNC Riverarch Capital and Golub Capital

Acquisition Highlights
  • This is Franchise Brands’ 1st transaction in the Business Services sector.
  • This is Franchise Brands’ 2nd transaction in the United Kingdom.

M&A Deal Summary

Date 2023-05-01
Target Pirtek UK
Sector Business Services
Buyer(s) Franchise Brands
Sellers(s) PNC Riverarch Capital
Golub Capital
Deal Type Add-on Acquisition

Target

Pirtek UK

London, United Kingdom
Pirtek UK is a provider of fluid transfer solutions and on-site repairs. Specializing in hydraulic hoses, pipe fittings & couplings. Pirtek offers a comprehensive range of fluid transfer solutions, products & services to industries including Agriculture; Automotive; Construction & Plant Hire; Defence; Environmental; Services; Manufacturing; Marine & Offshore; Material Handling; Mining & Quarrying; Transport & Logistics; Utilities. Pirtek UK was founded in 1988 and is based in London, United Kingdom.

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Buyer(S) 1

Buyer

Franchise Brands

Kidderminster, United Kingdom

Category Company
Founded 2008
Sector Franchising
DESCRIPTION

Franchise Brands is a group of international multi-brand franchisors with a combined network of over 400 franchisees in 12 countries, but predominantly in the UK. Franchise Brands has developed a highly professional central services platform including marketing, franchise recruitment and support services such as IT, which enables it to support the acquisition of some new franchise brands without significantly increasing its central overhead.


DEAL STATS #
Overall 3 of 3
Sector: Business Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
Country: United Kingdom M&A 2 of 2
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-23 Metro Rod

Macclesfield, United States

Metro Rod Ltd. is a provider of drain clearance and maintenance services delivered 24/7/365 on a largely reactive basis. Metro Rod Ltd. was founded in 1983 and is based in Macclesfield, United Kingdom.

Buy £28M

Seller(S) 2

SELLER

PNC Riverarch Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2011
PE ASSETS 250M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

PNC Riverarch Capital is a middle-market private equity group that invests in privately-held companies headquartered throughout North America. The Group looks to commit $10 to $50 million to help fund recapitalizations, leveraged and management buyouts, corporate divestitures and growth financings. Target sectors include business and industrial services, specialized manufacturing, and value-added distribution. PNC Riverarch was formed in 2011 and is an affiliate of PNC Financial Services Group.


DEAL STATS #
Overall 18 of 18
Sector: Business Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 5 of 5
Country: United Kingdom M&A 2 of 2
Year: 2023 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-31 Feeders Supply

Louisville, Kentucky, United States

Feeders Supply is an operator of 16 retail locations primarily in the Louisville metropolitan area. The company is focused on providing “everything you need for all the pets you feed” and offers a broad selection of premium pet food brands and products. Feeders Supply was founded in 1959 and is headquartered in Louisville, Kentucky.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-04 Barr GeoSpatial Solutions

Mesquite, Texas, United States

Barr GeoSpatial Solutions is a provider of geospatial services using aerial LiDAR, imaging, surveillance, methane leak detection, and AI technology to map and monitor critical infrastructure and natural resources across North America. Barr GeoSpatial Solutions is based in Mesquite, Texas.

Buy -
SELLER

Golub Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Lender
Founded 1994
PE ASSETS 75.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golub Capital is a private investment firm focused on making debt and equity investments in US based middle-market companies. Golub looks to invest between $5 and $75 million in businesses with established operating cash flow, strong customer relationships, and 'sustainable proprietary positions in their markets'. Prospective investment structures include refinancings, recapitalizations, buyouts, and growth financings. Sectors of interest include consumer products, business and consumer services, defense, manufacturing, value-added distribution, media, healthcare services and restaurants. Golub Capital was formed in 1994 and maintains offices in New York City, Atlanta, and Chicago.


DEAL STATS #
Overall 40 of 43
Sector: Business Services M&A 2 of 3
Type: Add-on Acquisition M&A Deals 18 of 19
Country: United Kingdom M&A 1 of 1
Year: 2023 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-31 Feeders Supply

Louisville, Kentucky, United States

Feeders Supply is an operator of 16 retail locations primarily in the Louisville metropolitan area. The company is focused on providing “everything you need for all the pets you feed” and offers a broad selection of premium pet food brands and products. Feeders Supply was founded in 1959 and is headquartered in Louisville, Kentucky.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-30 Agility

Las Vegas, Nevada, United States

Agility provides business continuity and disaster recovery solutions to businesses of all sizes, including access to power generators, office space, communications, and computer systems. Agility Recovery was founded in 1989 and is based in Las Vegas, Nevada.

Sell -