M&A Deal Summary

Greenbriar Equity Group Acquires Towne Park

On July 5, 2023, private equity firm Greenbriar Equity Group acquired business services company Towne Park from TA Associates and HarbourVest Partners

Acquisition Highlights
  • This is Greenbriar Equity Group’s 2nd transaction in the Business Services sector.
  • This is Greenbriar Equity Group’s 37th transaction in the United States.
  • This is Greenbriar Equity Group’s 3rd transaction in Pennsylvania.

M&A Deal Summary

Date 2023-07-05
Target Towne Park
Sector Business Services
Buyer(s) Greenbriar Equity Group
Sellers(s) TA Associates
HarbourVest Partners
Deal Type Secondary Buyout
Advisor(s) Goodwin Procter (Legal)

Target

Towne Park

Plymouth Meeting, Pennsylvania, United States
Towne Park is a provider of contracted hospitality services and parking systems nationwide. Towne Park was founded in 1988 and is based in Plymouth Meeting, Pennsylvania.

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Buyer(S) 1

Buyer

Greenbriar Equity Group

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Greenbriar Equity Group is a specialized private equity firm focused on investing in the global transportation and advanced manufacturing industries. Companies of interest include traditional carriers, such as railroads, cruise lines, airlines, air freight, shipping, and trucking, as well as ancillary manufacturers and service companies that support the transportation industry. Greenbriar will consider making majority as well as minority investments through a variety of structures, including leveraged buyouts, recapitalizations, growth capital investments, corporate joint ventures and privatizations. The Firm targets businesses valued from $100 million to $1 billion. Greenbriar Equity was formed in 1999 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 42 of 47
Sector: Business Services M&A 2 of 3
Type: Secondary Buyout M&A Deals 18 of 22
State: Pennsylvania M&A 3 of 3
Country: United States M&A 37 of 42
Year: 2023 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-16 Whitcraft

Eastford, Connecticut, United States

Whitcraft is a manufacturer of high quality, precision formed, machined and fabricated metal parts for the U.S. aerospace industry. The Company manufactures new and replacement jet engine and helicopter parts for large engine manufacturers serving both the commercial and military aircraft market. Whitcraft was founded in 1960 and is based in Eastford, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-20 VIVE Collision

New York, New York, United States

VIVE Collision is a multi-site collision repair operator providing collision repair services to customers across New York, Maine, Rhode Island and Massachusetts. VIVE Collision is based in New York, New York.

Buy -

Seller(S) 2

SELLER

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 252 of 260
Sector: Business Services M&A 12 of 12
Type: Secondary Buyout M&A Deals 47 of 50
State: Pennsylvania M&A 15 of 15
Country: United States M&A 205 of 207
Year: 2023 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-06 Kinective

Gilbert, Arizona, United States

Kinective is a developer of middleware and application software solutions for the retail banking end-market, serving nearly 2,500 banks and federal credit unions. Kinective is based in Gilbert, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-26 Certinia

Austin, Texas, United States

Certinia is a cloud ERP and PSA provider. Certinia offers customer-centric business applications on the cloud platform from Salesforce. Certinia was founded in 2009 and is based in Austin, Texas.

Buy -
SELLER

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 147.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 136 of 150
Sector: Business Services M&A 7 of 7
Type: Secondary Buyout M&A Deals 35 of 37
State: Pennsylvania M&A 4 of 4
Country: United States M&A 86 of 91
Year: 2023 M&A 5 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-30 Elatec

Puchheim, Germany

Elatec is a provider in the development and global sales of contactless (RFID, NFC, Bluetooth) and contact (SmartCard) readers/writers. It modules enable the clear identification of individual users on end devices and are used across a broad range of numerous applications and solutions, such as secure printing, elevator systems, fitness devices, industrial production, kiosk, physical access, and point-of-sale systems. Elatec was founded in 1988 and is based in Puchheim, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-22 Meadow Foods

Chester, United Kingdom

Meadow Foods is a dairy group and supplier of milk based dairy ingredients to the food industry. Meadow Foods was founded in 1992 and is based in Chester, United Kingdom.

Sell -