M&A Deal Summary

Harvest Partners Structured Capital and Kelso Acquire ReSource Pro

On December 13, 2021, private equity firms Harvest Partners Structured Capital and Kelso acquired business services company ReSource Pro from DFW Capital Partners

Acquisition Highlights
  • This is Harvest Partners Structured Capital’s 1st and Kelso’s 7th transaction in the Business Services sector.
  • This is Harvest Partners Structured Capital’s 30th and Kelso’s 64th transaction in the United States.
  • This is Harvest Partners Structured Capital’s 3rd and Kelso’s 9th transaction in New York.

M&A Deal Summary

Date 2021-12-13
Target ReSource Pro
Sector Business Services
Buyer(s) Harvest Partners Structured Capital
Kelso
Sellers(s) DFW Capital Partners
Deal Type Secondary Buyout

Target

ReSource Pro

New York, New York, United States
ReSource Pro is a provider of outsourced business process management solutions within the property & casualty insurance market. The Company provides administrative services across the insurance policy lifecycle for brokers, managed general agents, carriers and third-party administrators. ReSource Pro was founded in 2003 and is based in New York.

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Buyer(S) 2

DESCRIPTION

Harvest Partners Structured Capital is a private investment group focused on minority position, non-control investments. The Group looks for businesses with $100 million to $1 billion in revenues where Harvest can commit $50 to $250 million. Sectors of interest include business services, consumer services, healthcare, industrial services, manufacturing, and distribution. Harvest Partners Structured Capital is a unit of PE Firm Harvest Partners. The Firm is based in New York City.


DEAL STATS #
Overall 31 of 31
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 12 of 12
State (New York) 3 of 3
Country (United States) 30 of 30
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-08 Neighborly

Waco, Texas, United States

Neighborly is a home services franchisor of 25 service brands (including Neighborly umbrella service brand) and more than 4,000 franchise owners serving 10 million+ customers in nine countries, focused on repairing, maintaining and enhancing homes and businesses. Neighborly was founded in 1981 and is based in Waco, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-09 Advancing Eyecare

Jacksonville, Florida, United States

Advancing Eyecare is an operator of diagnostic ophthalmic equipment company established to offer the products and service solutions in the ophthalmic equipment industry. Advancing Eyecare was founded in 2019 and is based in Jacksonville, Florida.

Sell -
Buyer

Kelso

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1971
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kelso & Company is a private equity and investment management firm that seeks control investments in middle-market companies operating primarily throughout the US. Sectors of interest include manufacturing, communications, media, distribution, service, consumer products, retail, healthcare, transportation, logistics, textiles, & apparel, chemicals, and energy. Kelso looks to align 'management's interest with those of investors' when considering opportunities. Kelso & Company was formed in 1971 and is based in New York City.


DEAL STATS #
Overall 75 of 81
Sector (Business Services) 7 of 9
Type (Secondary Buyout) 19 of 22
State (New York) 9 of 9
Country (United States) 64 of 70
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-23 Eacom

Montreal, Quebec, Canada

Eacom is a manufacturer, marketer, and distributor of lumber, wood chips, and wood-based value-added products, and the management of forest resources. Eacom owns eight sawmills, all located in Eastern Canada, and related tenures. Eacom was formed in 2008 and is based in Montreal, Quebec.

Sell CA$490M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-24 Refresh Mental Health

Jacksonville Beach, Florida, United States

Refresh Mental Health through its centers provides comprehensive mental health services, while some specialize in eating disorders, substance abuse, Transcranial Magnetic Stimulation (TMS), and neurofeedback services. Refresh invests in clinical professionals. The company not only provides financial backing but also support practices with business and marketing infrastructure. Refresh Mental Health was formed in 2017 and is based in Jacksonville Beach, Florida.

Sell -

Seller(S) 1

SELLER

DFW Capital Partners

New York, New Jersey, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1983
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

DFW Capital Partners is a private equity firm that invests in high-growth middle-market service companies generating revenues up to $200 million. Specific service areas of interest include business services, industrial services, and healthcare services. Prospective transactions include growth capital financing, acquisition financing, management buyouts, and recapitalization. DFW will not invest in start-ups, real estate, or pure R&D companies. DFW Capital Partners was formed in 1983 and is based in Teaneck, New Jersey.


DEAL STATS #
Overall 23 of 26
Sector (Business Services) 2 of 2
Type (Secondary Buyout) 12 of 12
State (New York) 1 of 1
Country (United States) 23 of 26
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-30 American Track

Fort Worth, Texas, United States

American Track specializes in the inspection, repair, maintenance, design, and construction of railroad tracks, predominantly for private industrial users. American Track was founded in 1978 and is based in Fort Worth, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-14 Herspiegel

Yardley, Pennsylvania, United States

Herspiegel is a provider of commercial strategy and implementation consulting for the pharmaceutical and biotechnology industry. Herspiegel Consulting has advised start-ups to Fortune 100 pharmaceutical clients on commercial projects across a diverse array of service offerings including product launch readiness, marketing, market access, medical affairs, and patient services. Herspiegel was founded in 2007 and is based in Yardley, Pennsylvania.

Buy -