M&A Deal Summary

Harvest Partners Private Equity, The Carlyle Group and Manulife Investment Management Acquire Document Technologies

On December 2, 2011, private equity firm Harvest Partners Private Equity, private equity firm The Carlyle Group and mezzanine finance firm Manulife Investment Management acquired information services company Document Technologies from Quad-C Management

Acquisition Highlights
  • This is Harvest Partners Private Equity’s 1st, The Carlyle Group’s 3rd and Manulife Investment Management’s 1st transaction in the Information Services sector.
  • This is Harvest Partners Private Equity’s 18th, The Carlyle Group’s 223rd and Manulife Investment Management’s 10th transaction in the United States.
  • This is Harvest Partners Private Equity’s 4th, The Carlyle Group’s 7th and Manulife Investment Management’s 1st transaction in Georgia.
Investment Fate
  • Document Technologies was recapitalized in 2014.
  • Document Technologies merged with another company in 2016 for 627M USD.
  • Document Technologies merged with another company in 2016 for 627M USD.

M&A Deal Summary

Date 2011-12-02
Target Document Technologies
Sector Information Services
Buyer(s) Harvest Partners Private Equity
The Carlyle Group
Manulife Investment Management
Sellers(s) Quad-C Management
Deal Type Recapitalization
Advisor(s) Baird
VRA Partners (Financial)
Bryan Cave Leighton Paisner LLP (Legal)

Target

Document Technologies

Atlanta, Georgia, United States
DTI is a privately held legal process outsourcing company in the US serving law firms and corporations. DTI helps its clients accelerate the changes they must make to remain competitive. DTI was founded in 1998 and is based in Atlanta, Georgia.

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Buyer(S) 3

Buyer

Harvest Partners Private Equity

New York, New York, United States

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 private equity firm that targets buyout and growth capital investments in middle-market public and private companies. Harvest Partners looks to invest in profitable ($30 to $300 million of EBITDA) consumer products/retail, manufacturing, marketing, building products, industrial, specialty services, and value-added distribution companies valued between $100 and $600 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 21 of 49
Sector (Information Services) 1 of 1
Type (Recapitalization) 2 of 8
State (Georgia) 4 of 6
Country (United States) 18 of 46
Year (2011) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-09 TruckPro

Cordova, Tennessee, United States

TruckPro is an independent distributor of heavy-duty aftermarket truck parts and accessories in the U.S. TruckPro distributes a full range of products that cover maintenance and repair events for substantially all major OEMs of heavy-duty vehicles. TruckPro sells its products to over 35,000 customers in numerous end markets, including small, regional and national trucking companies; private fleets; waste services companies; construction companies; municipalities and independent repair shops. TruckPro, Inc. was founded in 1958 and is based in Memphis, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-16 Driven Brands

Charlotte, North Carolina, United States

Driven Brands is a parent company of automotive aftermarket brands across four distinct verticals: Repair & Maintenance, housing Meineke Car Care Centers; Paint & Collision, housing Maaco, CARSTAR, and ABRA; Distribution, housing 1-800-Radiator & A/C and Spire Supply; and Quick Lube, housing Take 5 Oil Change. Driven Brands was incorporated in 1972 and is based in Charlotte, North Carolina.

Buy -
Buyer

The Carlyle Group

Washington, District of Columbia, United States


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 417 of 745
Sector (Information Services) 3 of 8
Type (Recapitalization) 6 of 10
State (Georgia) 7 of 12
Country (United States) 223 of 350
Year (2011) 31 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-01 Hoffmaster Group

Oshkosh, Wisconsin, United States

Hoffmaster Group is a designer, manufacturer and supplier of decorated, premium disposable tableware (including napkins, plates, tablecovers and placemats) sold to major consumer retail and foodservice customers. The Company is highly regarded for its design and manufacturing capabilities, providing the Company with unique growth opportunities as retailers expand their seasonal and party/life celebration planograms, and as national restaurant and hospitality chains increasingly realize the branding and cost-in-use benefits of premium disposable tableware products. Hoffmaster Group was founded in 1947 and is based in Oshkosh, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-04 PPD

Wilmington, North Carolina, United States

PPD is a global contract research organization providing drug discovery, development, and lifecycle management services. Its clients and partners primarily include pharmaceutical and biotechnology companies, in addition to medical device companies, academic institutions, and government organizations. With offices in 44 countries and more than 11,000 professionals worldwide, PPDI applies innovative technologies, therapeutic expertise, and a commitment to quality to help clients and partners accelerate the delivery of safe and effective therapeutics and maximize the returns on their R&D investments. PPD was founded in 1985 and is based in Wilmington, North Carolina.

Buy $3.9B
Buyer

Manulife Investment Management

Boston, Massachusetts, United States


Category Mezzanine Finance Firm
Founded 1998
Size Large
Type Sector Agnostic
DESCRIPTION

Manulife Investment Management is a private investment group that provides mezzanine as well as non-controlling equity capital to middle-market businesses. Manulife Investment's target investment size is $10 to $50 million per transaction. The Group prefers opportunities located in the US. Manulife Investment Management was established in 1998 and maintains offices in Boston and New York City.


DEAL STATS #
Overall 11 of 26
Sector (Information Services) 1 of 1
Type (Recapitalization) 3 of 4
State (Georgia) 1 of 2
Country (United States) 10 of 24
Year (2011) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-01 Industrial Container Services

Montebello, California, United States

Industrial Container Services is a provider of reusable container solutions in the United States, providing new and reconditioned steel, plastic, and fiber drums. With 49 facilities across the United States and Canada, ICS collects, reconditions and distributes over 10 million steel, poly and intermediate bulk containers annually and is the only company capable of offering comprehensive services, including pickup and reconditioning of containers of all major packaging types, new container manufacturing and distribution, to customers nationally. Industrial Container Services is based in Montebello, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-01 Woodside Homes

North Salt Lake, Utah, United States

Woodside Homes, Inc. is a privately-held homebuilder. Woodside Homes has designed, constructed and sold more than 40,000 homes, earning the trust and confidence of families who seek the very most from their home-buying dollars.

Buy -

Seller(S) 1

SELLER

Quad-C Management

Charlottesville, Virginia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Quad-C Management is a generalist private equity firm that makes control investments in middle-market companies operating in a wide range of industries. Target sector's include building products, business-to-business services, consumer products, distribution/logistics, equipment rental, financial services, healthcare, light manufacturing, packaging, restaurants, security, and specialty chemicals. Quad-C's target investment size is $50 to $150 million in businesses valued between $100 and $500 million and with EBITDA greater than $10 million. Prospective transaction types include recapitalizations/family successions, management buyouts, and industry consolidations. Quad-C Management was founded in 1989 and is headquartered in Charlottesville, Virginia.


DEAL STATS #
Overall 16 of 47
Sector (Information Services) 1 of 1
Type (Recapitalization) 1 of 2
State (Georgia) 3 of 5
Country (United States) 14 of 42
Year (2011) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-30 NuSil Technology

Carpinteria, California, United States

NuSil Technology LLC is a formulator, manufacturer and supplier of specialized silicone raw material compounds for the healthcare, aerospace, defense and photonics industries.

Sell $735M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-01 TLC Companies

Brooklyn Center, Minnesota, United States

TLC Companies provides transportation industries workers' compensation and risk management solutions. The TLC Companies has been able to leverage our 25+ years of experience in risk management and transportation services to our clients resulting in lower operating costs. TLC Companies was founded in 1985 and is based in Brooklyn, Minnesota.

Sell -