M&A Deal Summary

GenNx360 Capital Partners Acquires Shenandoah Industrial Solutions

On September 12, 2024, private equity firm GenNx360 Capital Partners acquired environmental company Shenandoah Industrial Solutions from KLH Capital and Plexus Capital

Acquisition Highlights
  • This is GenNx360 Capital Partners’ 2nd transaction in the Environmental sector.
  • This is GenNx360 Capital Partners’ 25th transaction in the United States.
  • This is GenNx360 Capital Partners’ 2nd transaction in Florida.

M&A Deal Summary

Date 2024-09-12
Target Shenandoah Industrial Solutions
Sector Environmental
Buyer(s) GenNx360 Capital Partners
Sellers(s) KLH Capital
Plexus Capital
Deal Type Secondary Buyout
Advisor(s) Raymond James - Investment Banking (Financial)

Target

Shenandoah Industrial Solutions

Pompano Beach, Florida, United States
Entrance to Shenandoah's corporate headquarters in Pompano Beach, Florida.
Entrance to Shenandoah's corporate headquarters in Pompano Beach, Florida.
Shenandoah Industrial Solutions is a provider of storm drainage system inspection, cleaning, and CIPP rehabilitation serving municipalities and commercial customers. Shenandoah Industrial Solutions is based in Pompano Beach, Florida.

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Buyer(S) 1

Buyer

GenNx360 Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GenNx360 Capital Partners is a private equity firm focused on acquiring mid-sized US-based businesses. GenNx360 targets companies with revenues between $50 and $500 million and $5 to $35 million of EBITDA. The Firm looks to invest $25 to $100 million per transaction. Specific areas of interest include industrial water treatment, specialty chemicals/engineered materials, industrial machinery/equipment components, agriculture products and services, global transportation component parts, aerospace/defense, oil/gas services and business services. GenNx360 Capital Partners was formed in 2006 and is based in New York, New York.


DEAL STATS #
Overall 27 of 28
Sector: Environmental M&A 2 of 2
Type: Secondary Buyout M&A Deals 10 of 11
State: Florida M&A 2 of 2
Country: United States M&A 25 of 26
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-11 Miller Environmental Group

Calverton, New York, United States

Miller Environmental Group services the utility, transportation, and petrochemical industries in the areas of emergency response, waste transportation and disposal, remediation, and industrial as well as marine services. Miller Environmental Group was founded in 1971 and is based in Calverton, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-17 ITsavvy

Addison, Illinois, United States

ITsavvy is a technology solutions provider that delivers frictionless IT experiences to clients across multiple segments and industries. ITsavvy leverages the power of its partner ecosystem to design, develop and deliver technology infrastructure solutions that accelerate business outcomes on behalf of its clients. ITsavvy was founded in 2004 and is based in Addison, Illinois.

Sell $400M

Seller(S) 2

SELLER

KLH Capital

Tampa, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

KLH Capital is a private investment firm focused on smaller company investments in a variety of growing industry sectors. KLH helps provide management teams with capital to facilitate recapitalizations, management buy-outs/buy-ins, family successions, and other ownership transitions. KLH generally pursues companies with $4 to $20 million in pre-tax earnings and will consider opportunities across the US. KLH will not invest in start-ups, high technology, software, biotech, restaurants, retail, real estate development, oil and gas operations, or new construction businesses. KLH Capital is based in Tampa, Florida.


DEAL STATS #
Overall 30 of 30
Sector: Environmental M&A 1 of 1
Type: Secondary Buyout M&A Deals 14 of 14
State: Florida M&A 6 of 6
Country: United States M&A 30 of 30
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-01 Selinsky Force

Canton, Ohio, United States

Selinsky Force provides a diverse portfolio of industrial construction services including heavy rigging and hauling, crane service and equipment rental, and plant and equipment maintenance. Selinsky Force was founded in 2009 and is based in Canton, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-01 Concrete Protection & Restoration

Baltimore, Maryland, United States

Concrete Protection & Restoration provides concrete restoration services supporting critical repair and maintenance of the structural integrity of high-rise (3+ stories) condominium & multi-family, commercial, hospitality, medical, education, industrial and other buildings and structures throughout the United States. Concrete Protection & Restoration is based in Copenhagen, Denmark.

Buy -
SELLER

Plexus Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 2.2B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Plexus Capital is a private equity firm that invests in buyouts, acquisitions, recapitalizations and growth financings in the form of junior and/or equity capital. Plexus focuses on lower middle-market businesses located in the Mid-Atlantic and Southeast areas of the US. The Firm looks for businesses companies in the business services, consumer services, manufacturing, value-added distribution, and healthcare sectors with up to $2 to $15 million of cash-flow. Plexus Capital was formed in 1995 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 42 of 44
Sector: Environmental M&A 1 of 1
Type: Secondary Buyout M&A Deals 9 of 11
State: Florida M&A 4 of 4
Country: United States M&A 42 of 44
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-22 Smash My Trash

Carmel, Indiana, United States

Smash My Trash is a franchisee operating that provides mobile waste compaction to increase capacity in open-top dumpsters, reduce hauling frequency and expenses. Smash My Trash was founded in 2015 and is based in Carmel, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-04 Annie Aesthetic

New York City, New York, United States

Annie Aesthetic is an industry medical aesthetics group that is partnering with best-in-class clinics and provide world-class support to partner clinics and clients achieve their personal and professional goals. Annie Aesthetic is based in New York City, New York.

Buy -