M&A Deal Summary

Freeman Spogli and LightBay Capital Acquire Infinity Home Services

On January 11, 2023, private equity firms Freeman Spogli and LightBay Capital acquired construction company Infinity Home Services from North Branch Capital

Acquisition Highlights
  • This is Freeman Spogli’s 1st and LightBay Capital’s 1st transaction in the Construction sector.
  • This is Freeman Spogli’s 48th and LightBay Capital’s 11th transaction in the United States.
  • This is Freeman Spogli’s 2nd and LightBay Capital’s 1st transaction in Wisconsin.

M&A Deal Summary
Date 2023-01-11
Target Infinity Home Services
Sector Construction
Buyer(s) Freeman Spogli
LightBay Capital
Sellers(s) North Branch Capital
Deal Type Secondary Buyout
Advisor(s) Cowen Group, Inc. (Financial)
Katten Muchin Rosenman (Legal)

Target

Infinity Home Services

New Berlin, Wisconsin, United States
Infinity Home Services is a provider of residential roofing, siding, window, and gutter replacement in primarily the non-insurance, retail market. Infinity Home Services was founded in 1997 and is based in New Berlin, Wisconsin.

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Buyer(S) 2

Buyer

Freeman Spogli

Los Angeles, California, United States
Category Private Equity Firm
Founded 1983
PE ASSETS 7.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Freeman Spogli & Co. is a private equity firm focused on acquiring middle-market retail, direct marketing, and distribution companies. The Firm will consider opportunities throughout North America and prefers partnering with management when pursuing acquisitions. Freeman Spogli looks to invest $75 to $300 million in transactions valued up to $750 million. Freeman Spogli was formed in 1983 and is based in Los Angeles, California with an additional office in New York City.

DEAL STATS #
Overall 48 of 48
Sector (Construction) 1 of 1
Type (Secondary Buyout) 18 of 18
State (Wisconsin) 2 of 2
Country (United States) 48 of 48
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-16 EverVet Partners

Conshohocken, Pennsylvania, United States

EverVet Partners operates a network of general practice animal hospitals. EverVet capitalizes on the attractive trends within the fragmented veterinary services industry through the acquisition and growth of independent veterinary practices in the Mid-Atlantic, Midwest, Northeast and Southeast. EverVet Partners is based in Conshohocken, Pennsylvania.

Buy -
Buyer

LightBay Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2016
PE ASSETS 615M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

LightBay Capital is a private equity firm focused on middle-market buyouts and distressed debt opportunities. The Firm will consider investing in the range of $100 to $300 million. LightBay Capital was formed in 2016 and is based in Los Angeles, California.

DEAL STATS #
Overall 12 of 13
Sector (Construction) 1 of 1
Type (Secondary Buyout) 3 of 4
State (Wisconsin) 1 of 1
Country (United States) 11 of 12
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-14 Burton

Omaha, Nebraska, United States

Burton offers replacement, repair, and maintenance services to a large and growing customer base. The Company is a multi-brand platform that has completed six add-on acquisitions since inception, expanding its operations in Nebraska, Colorado, Wisconsin, and Kansas. Burton partners with regional HVAC, plumbing, and electrical services providers to help them grow their businesses through follow-on M&A along with additional organic growth tools and capabilities. Burton is based in Omaha, Nebraska.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-31 Questco

The Woodlands, Texas, United States

Questco is a professional employer organization. Questco provides human resource management and administrative services through a co-employment relationship with its clients. The Company enables its clients to cost-effectively outsource the management of employee benefits, workers compensation, human resources, payroll, and other administrative services. Questco was established in 1989 and is based in The Woodlands, Texas.

Buy -

Seller(S) 1

SELLER

North Branch Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2014
Size Small
Type Sector Agnostic
DESCRIPTION

North Branch Capital is a Midwest-US-based private equity firm focused on lower middle-market companies. The Firm seeks value-added distribution, niche manufacturing, and select business services companies operating in large markets with growth potential. Prospective companies typically have at least $10 million in revenue and $2 million of EBITDA. North Branch Capital was formed in 2014 and is based in Illinois.

DEAL STATS #
Overall 3 of 4
Sector (Construction) 1 of 1
Type (Secondary Buyout) 3 of 4
State (Wisconsin) 1 of 1
Country (United States) 3 of 4
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-29 Summit Hydraulics

Phoenix, Arizona, United States

Summit Hydraulics is a designer and distributor of aftermarket hydraulic kits and components for the agricultural and construction end markets, among others. The company has built a high-growth e-commerce platform selling customized hydraulic components, kits, and solutions to industrial markets. Summit Hydraulics

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-21 ControlByWeb

Nibley, Utah, United States

ControlByWeb is a designer and manufacturer of Industrial Internet of Things (“IIoT”) control products and systems used to remotely collect, send, monitor, and act on data acquired from various environments. ControlByWeb is based in Nibley, Utah.

Buy -
Mergr

Product

Company

Legal