M&A Deal Summary

GenNx360 Capital Partners Acquires Subsea

On April 3, 2018, private equity firm GenNx360 Capital Partners acquired marine company Subsea from Lariat Partners

Acquisition Highlights
  • This is GenNx360 Capital Partners’ 1st transaction in the Marine sector.
  • This is GenNx360 Capital Partners’ 14th transaction in the United States.
  • This is GenNx360 Capital Partners’ 1st transaction in Florida.

M&A Deal Summary
Date 2018-04-03
Target Subsea
Sector Marine
Buyer(s) GenNx360 Capital Partners
Sellers(s) Lariat Partners
Deal Type Secondary Buyout

Target

Subsea

Miami, Florida, United States
Subsea is a provider of underwater vessel maintenance, inspection and repair services to vessel owners and operators within diversified marine transportation and construction sectors. Subsea services include hull and propeller fleet management, underwater wet welding, seal replacement, tunnel thruster repair, azimuth thruster repair, and environmental hull cleaning. The Company provides both routine hull maintenance services to drive fuel efficiencies and highly technical repair solutions allowing vessel operators to reduce dry-docking costs, while keeping the vessel in service. Subsea is headquartered in Miami, Florida.

Search 200,388 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

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 1.8B 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 City.

DEAL STATS #
Overall 16 of 27
Sector (Marine) 1 of 1
Type (Secondary Buyout) 6 of 9
State (Florida) 1 of 2
Country (United States) 14 of 25
Year (2018) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-20 CRS Temporary Housing

Phoenix, Arizona, United States

CRS Temporary Housing is a tech-enabled outsourced services platform providing end-to-end temporary housing solutions for policyholders on behalf of insurance carriers. The Company assists policyholders in times of crisis, ensuring they have adequate shelter immediately after being displaced from their residence. CRS sources a wide variety of hotel and housing accommodations as well as furniture and housewares to meet the unique needs of each policyholder. CRS Temporary Housing was established in 1989 and is based in Phoenix, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-16 GenServe

Bay Shore, New York, United States

GenServe is an independent provider of scheduled and emergency power generator maintenance, repair and sales in the North Atlantic region serving commercial customers in various industries. GenServe was formed in 1990 and is headquartered in Plainview, New York.

Buy -

Seller(S) 1

SELLER

Lariat Partners

Category Private Equity Firm
Founded 2013
Size Small
Type Sector Agnostic
DESCRIPTION

Lariat Partners is a lower middle-market private equity firm focused on buy-and-build investments of recurring revenue businesses. Target sectors include consumer products, energy and environmental services, food, healthcare services, marine services, safety, and specialty distribution. Prospective companies are generally profitable with $2 to $20 million of EBITDA. Lariat Partners was formed in 2013 and is based in Denver, Colorado.

DEAL STATS #
Overall 2 of 7
Sector (Marine) 1 of 1
Type (Secondary Buyout) 2 of 4
State (Florida) 1 of 1
Country (United States) 2 of 7
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-10 Offen Petroleum

Commerce City, Colorado, United States

Offen Petroleum is a provider of fuel, lubricants, and logistics services in Colorado and the Rocky Mountain region. Offen sources and sells fuel in 12 states. In addition to fuels, Offen's lubricants division provides products and solutions for the commercial, industrial, and passenger car segments, as well as diesel exhaust fluids used in emission controls. The Company operates a specialty logistics division that is a premier fuel carrier throughout Colorado. Offen Petroleum was founded in 1930 and is headquartered in Commerce City, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-25 Jacent

Huntingdon Valley, Pennsylvania, United States

Jacent is a distributor and merchandiser of non-edible, general merchandise impulse items to grocery and other retail channels. The company creates a strategic merchandising plan for each store and places the right impulse product in the right location within the store to drive enhanced customer experiences, sales and profitability. With its national direct store delivery (“DSD”) network and team members, Jacent reorders, restocks and merchandises each store to provide a customized, turn-key solution that drives incremental impulse sales for its blue-chip customers. Jacent is based in Huntingdon Valley, Pennsylvania.

Sell -
Mergr

Product

Company

Legal