M&A Deal Summary

Golden Gate Capital and Antares Capital Acquire Express Oil Change & Tire Engineers

On June 15, 2017, private equity firms Golden Gate Capital and Antares Capital acquired automotive company Express Oil Change & Tire Engineers from Carousel Capital and Arrowhead Investment Management

Acquisition Highlights
  • This is Golden Gate Capital’s 1st and Antares Capital’s 3rd transaction in the Automotive sector.
  • This is Golden Gate Capital’s 81st and Antares Capital’s 36th transaction in the United States.
  • This is Golden Gate Capital’s 1st and Antares Capital’s 4th transaction in Alabama.

M&A Deal Summary

Date 2017-06-15
Target Express Oil Change & Tire Engineers
Sector Automotive
Buyer(s) Golden Gate Capital
Antares Capital
Sellers(s) Carousel Capital
Arrowhead Investment Management
Deal Type Secondary Buyout
Advisor(s) Harris Williams (Financial)
K&L Gates
Bradley Arant Boult Cummings (Legal)

Target

Express Oil Change & Tire Engineers

Birmingham, Alabama, United States
Express Oil Change & Tire Engineers is a provider of total car care solutions, oil change, maintenance and repair services. Express Oil Change & Tire Engineers was founded in 1979 and is based in Birmingham, Alabama.

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Buyer(S) 2

Buyer

Golden Gate Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golden Gate Capital is a large private equity firm focused on buyout and growth equity investments across a wide variety of industries. The Firm partners with management teams to make equity investments in situations where there is a demonstrable opportunity to significantly enhance a company's value. Sectors of interest include software and IT services, semiconductors, electronics, consumer products and retail, financial services, business services, and media. Prospective transaction types include public-to-privates, corporate extractions, bankruptcy auctions, and recapitalizations. Golden Gate Capital was formed in 2000 and is based in San Francisco, California.


DEAL STATS #
Overall 92 of 112
Sector (Automotive) 1 of 2
Type (Secondary Buyout) 17 of 21
State (Alabama) 1 of 1
Country (United States) 81 of 100
Year (2017) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-04 Vantage

Bronx, New York, United States

Vantage is a North American elevator component manufacturer, providing a broad portfolio of made-to-order parts that includes nearly every electromechanical component used in elevator systems: door operators and associated door equipment, geared and gearless traction machines, universally compatible microprocessor controllers, safety components, signal fixtures, push button panels, and structural assemblies. Vantage sells its products to independent elevator service companies and OEMs engaged in the installation, maintenance and modernization of elevators. Vantage was founded in 1927 and is based in Bronx, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-31 Atrium

Dallas, Texas, United States

Atrium Corp. is a nationally-recognized provider of high quality windows and doors to the new construction and repair and remodel markets. The company operates a nationwide network of manufacturing facilities and sells a comprehensive line of products in all 50 states and Canada.

Sell -
Buyer

Antares Capital

Miami, Florida, United States

Investor Investor


Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Antares Capital is a private investment group that targets growth capital financings as well as management buyout opportunities. The Firm focuses on investments based in the Southeast US and Texas. Prospective companies generally have proven business models, modest capital requirements for growth, and operate in large and growing markets. The Firm looks to commit $500k to $5 million per investment. Antares will not invest in real estate, mineral exploration, distributors, franchisees, or project financings. Antares was founded in 1993 and is based in Miami, Florida.


DEAL STATS #
Overall 37 of 55
Sector (Automotive) 3 of 5
Type (Secondary Buyout) 20 of 30
State (Alabama) 4 of 4
Country (United States) 36 of 54
Year (2017) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-06 Valicor Environmental Services

Monroe, Ohio, United States

Valicor Environmental Services is a provider of non-hazardous wastewater treatment services in North America. Leveraging its extensive fleet of tankers and a network of strategically located centralized wastewater treatment (“CWT”) facilities, the Company transports and processes diverse wastewater streams that result from the manufacture of industrial and consumer goods. Valicor helps customers dispose of oily water, leachate, soaps, line flush waste, and similar waste streams, and it also provides a diverse set of landfill solidification and product destruction services. Valicor Environmental Services was established in 1982 and is based in Monroe, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-02 Ten-X

Irvine, California, United States

Ten-X, Inc. is a provider of an online real-estate marketplace that allows individuals and investors to buy and sell residential and commercial real-estate properties using both desktop and mobile channels. Ten-X was founded in 2009 and is based in Irvine, California.

Buy -

Seller(S) 2

SELLER

Carousel Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Carousel Capital is a private investment group that invests in companies headquartered in the Southeast US. The Firm targets leveraged buyouts and recapitalizations of businesses in consumer products/services, business services, and healthcare services. Carousel will consider both the majority and minority situations. Prospective companies are generally valued up to $250 million and have at least $3 million of EBITDA. Carousel Capital was formed in 1996 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 14 of 20
Sector (Automotive) 2 of 3
Type (Secondary Buyout) 8 of 13
State (Alabama) 3 of 4
Country (United States) 14 of 20
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-31 CCG IQ

Charlotte, North Carolina, United States

CCG IQ is a provider of IT solutions for insurance underwriting and claims decisions. The CCQ IQ brands, which include HVACi, StrikeCheck, and JMI Reports, specialize in HVAC and electronics claims, as well as underwriting inspections for insurance professionals. Consolidated Claims Group LLC was founded in 2011 and is based in Charlotte, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-04 Huseby

Charlotte, North Carolina, United States

Huseby is a national provider of court reporting and litigation support services to law firms and corporate legal departments. Huseby empowers the on-the-go attorney by bringing your office to your mobile device. Huseby was founded in 1974 and is based in Charlotte, North Carolina.

Buy -
SELLER

Arrowhead Investment Management

Greenwich, Connecticut, United States

Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1996
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Arrowhead Investment Management is a provider of subordinated debt, preferred stock and non-control common equity to mid-sized businesses. Arrowhead invests alongside private equity sponsors in acquisitions, buyouts, recapitalizations and growth capital transactions. Arrowhead is a generalist investor, however the Firm tends to focus on healthcare, packaging, chemicals, consumer products, industrial manufacturing, value-added distribution and business services. Arrowhead looks to commit $10 to $100 million in transactions valued up to $500 million. Arrowhead Investment Management was formed in 1996 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 24 of 24
Sector (Automotive) 1 of 1
Type (Secondary Buyout) 14 of 14
State (Alabama) 1 of 1
Country (United States) 24 of 24
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-16 Crisis Prevention Institute

Milwaukee, Wisconsin, United States

Crisis Prevention Institute is a training organization specializing in the safe management of disruptive and assaultive behavior. CPI's training reduces the frequency and impact of incidents resulting from aggressive behavior in the workplace, improve professionals' confidence levels, help customers comply with regulatory requirements, and create a safer environment for all involved. Crisis Prevention Institute was founded in 1980 and is based in Milwaukee, Wisconsin.

Sell -