M&A Deal Summary

Harvest Partners and Fifth Street Capital Acquire Garretson Resolution Group

On December 20, 2012, private equity firm Harvest Partners and lender Fifth Street Capital acquired business services company Garretson Resolution Group from Pfingsten Partners

Acquisition Highlights
  • This is Harvest Partners’ 3rd and Fifth Street Capital’s 6th transaction in the Business Services sector.
  • This is Harvest Partners’ 22nd and Fifth Street Capital’s 62nd transaction in the United States.
  • This is Harvest Partners’ 4th and Fifth Street Capital’s 2nd transaction in Ohio.
Investment Fate
  • Garretson Resolution Group was sold to a strategic buyer in 2019.

M&A Deal Summary

Date 2012-12-20
Target Garretson Resolution Group
Sector Business Services
Buyer(s) Harvest Partners
Fifth Street Capital
Sellers(s) Pfingsten Partners
Deal Type Recapitalization
Advisor(s) Harris Williams (Financial)
Paul Hastings (Legal)

Target

Garretson Resolution Group

Cincinnati, Ohio, United States
Garretson Resolution Group is a neutral provider of services to parties who are settling personal injury claims. Company provides outsourced medical lien resolution and complex settlement administration services for law firms, corporations, insurance companies, plaintiffs and defendants in mass tort, class action and single event litigations.

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Buyer(S) 2

Buyer

Harvest Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harvest Partners is a Investment firm provides Private Equity and Structured Capital focused on buyout, growth capital, minority position, and non-control investments in middle-market public and private companies. Harvest Partners looks to invest in profitable ($30 to $300 million of EBITDA). Sectors of interest include business services, consumer services, healthcare, industrial services, manufacturing, marketing, building products and distribution companies valued between $100 and $1000 million. The Firm prefers opportunities headquartered in North America. Harvest Partners was formed in 1981 and is based in New York City.


DEAL STATS #
Overall 26 of 71
Sector: Business Services M&A 3 of 7
Type: Recapitalization M&A Deals 3 of 11
State: Ohio M&A 4 of 6
Country: United States M&A 22 of 67
Year: 2012 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-19 FCX Performance

Columbus, Ohio, United States

FCX Performance is a specialty process flow control distribution company, providing technical, mission critical products and value-added services to more than 15,000 end users, original equipment manufacturers and engineering and construction firms across the process, energy and high purity industries. FCX Performance was founded in 1999 and is based in Columbus, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-26 Tacala

Birmingham, Alabama, United States

Tacala is a franchisee of Taco Bell restaurants, with over 330 units located across 7 states. Tacala was founded in 1989 and is based in Birmingham, Alabama.

Buy -
DESCRIPTION

Fifth Street Capital is a public investment firm focused on providing mezzanine financing to support expansions, acquisitions, recapitalizations, and management buyouts of middle-market US based companies. Fifth Street looks to invest between $5 and $50 million per transaction. Sectors of interest include consumer products, healthcare services, manufacturing, medical device manufacturing, food services, business services, restaurants, speciality retail, logistics, and value added distribution. Fifth Street Capital is based in White Plains, New York.


DEAL STATS #
Overall 63 of 70
Sector: Business Services M&A 6 of 6
Type: Recapitalization M&A Deals 8 of 8
State: Ohio M&A 2 of 2
Country: United States M&A 62 of 69
Year: 2012 M&A 12 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-01 Dexter Axle Co.

Elkhart, Indiana, United States

Dexter Axle Co., Inc. is a designer and manufacturer of trailer axle, brake and suspension assemblies and related replacement parts used primarily in the industrial and utility trailer.

Buy $360M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-24 OMNIPLEX World Services

Chantilly, Virginia, United States

OMNIPLEX World Services Corp. is a provider of premium physical security support services and Federal background investigations to the US Government and commercial clients. OMNIPLEX World Services Corp. was founded in 1990 and is based in Chantilly, Virginia.

Buy -

Seller(S) 1

SELLER

Pfingsten Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION
Pfingsten's office building at 300 North LaSalle in Chicago.
Pfingsten's office building at 300 North LaSalle in Chicago.

Pfingsten Partners is a private equity firm focused on investments in niche manufacturing, distribution, and business services companies. The Firm targets platform companies headquartered in the US although add-on acquisitions can be located outside the US. Prospective companies typically have revenues of $20 to $150 million and EBITDA of $3 to $12 million. Transaction types include private companies undergoing an ownership transition, corporate divestitures, strategic add-ons, and turnarounds. Pfingsten only invests in situations allowing for control. Pfingsten will not invest in real estate, natural resources, highly regulated businesses, retail, restaurants, early-stage companies, or technology. Pfingsten Partners was formed in 1989 and is based in Chicago, Illinois.


DEAL STATS #
Overall 13 of 41
Sector: Business Services M&A 2 of 5
Type: Recapitalization M&A Deals 1 of 1
State: Ohio M&A 4 of 7
Country: United States M&A 13 of 41
Year: 2012 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-17 Suzo-Happ Group

Mount Prospect, Illinois, United States

Suzo-Happ Group is a developer, manufacturer, and distributor gaming, amusement, and industrial, vending, interactive/kiosk, and PC arcade parts and accessories. Suzo-Happ Group was founded in 1986 and is based in Mount Prospect, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-28 ILP Holdings

Sanford, Florida, United States

ILP Holdings is a manufacturer of energy-efficient luminaires and retrofits solutions with over 14 years of experience supporting builders and retrofitters with green building initiatives. The company has developed a wide range of LED products to support commercial, industrial, and outdoor applications focused on energy and maintenance savings. New products like the UFO parking garage fixture and the LANCE retrofit kits demonstrate ILP's ability to deliver performance and value with exceptional aesthetics. ILP Holdings was founded in 2003 and is based in Sanford, Florida.

Buy -