M&A Deal Summary

Inverness Graham Investments, Harvey & Company and Five Points Capital Acquire GPS TrackIt

On June 7, 2017, private equity firm Inverness Graham Investments, merchant bank Harvey & Company and private equity firm Five Points Capital acquired internet software and services company GPS TrackIt

Acquisition Highlights
  • This is Inverness Graham Investments’ 1st, Harvey & Company’s 1st and Five Points Capital’s 3rd transaction in the Internet Software and Services sector.
  • This is Inverness Graham Investments’ 21st, Harvey & Company’s 41st and Five Points Capital’s 62nd transaction in the United States.
  • This is Inverness Graham Investments’ 1st, Harvey & Company’s 2nd and Five Points Capital’s 3rd transaction in Georgia.

M&A Deal Summary

Date 2017-06-07
Target GPS TrackIt
Sector Internet Software and Services
Buyer(s) Inverness Graham Investments
Harvey & Company
Five Points Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

GPS TrackIt

Roswell, Georgia, United States
GPS TrackIt is a provider of SaaS-based asset-tracking and fleet management solutions across North America. GPSTrackIt’s solutions deliver cost reductions, increased fleet efficiency, and equipment & asset protection. GPS TrackIt was founded in 1999 and is based in Roswell, Georgia.

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Buyer(S) 3

Buyer

Inverness Graham Investments

Newtown Square, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Inverness Graham Investments is the private equity arm of The Graham Group. The Firm looks to make controlling investments in lower mid-market companies throughout the US. Inverness targets capital-efficient businesses with strong/sustainable cash flow, differentiated products, and operating in growing markets. The Firm seeks to commit $20 to $80 million in companies valued up to $75 million. Sectors of interest include aerospace/defense, biotech/pharmaceuticals, building materials, business services, consumer services, packaging, industrial equipment/components, electronic equipment, food/beverages, medical devices/supplies, energy & power products/services, specialty chemicals, and technology hardware. Prospective transaction situations include buyouts, growth capital financings, recapitalizations, consolidations, and divestitures. Inverness Graham Investments was formed in 2003 and is based in Philadelphia. The Firm has an additional office in Los Angeles.


DEAL STATS #
Overall 21 of 36
Sector (Internet Software and Services) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 10 of 16
State (Georgia) 1 of 1
Country (United States) 21 of 36
Year (2017) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-13 Mesker Door

Huntsville, Alabama, United States

Mesker Door, Inc. is a manufacturer of proprietary metal security doors and frames including specialty doors, plus stock inventory. Mesker Door was founded in 1864 and is based in Huntsville, Alabama.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-12 SwipeClock

South Jordan, Utah, United States

SwipeClock provides cloud‐based integrated workforce management software solutions that include automated time and attendance and advanced scheduling. SwipeClock was founded in 1999 and is based in South Jordan, Utah.

Buy -
DESCRIPTION

Harvey & Company is a principal investment and advisory group. The Firm works with companies and private equity firms on acquisition searches as well as makes investments of its own. Harvey & Company was established in 1998 and is headquartered in Newport Beach, California.


DEAL STATS #
Overall 43 of 72
Sector (Internet Software and Services) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 14 of 27
State (Georgia) 2 of 2
Country (United States) 41 of 67
Year (2017) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-01 The Penray Companies

Downers Grove, Illinois, United States

The Penray Companies, Inc. is a manufacturer and marketer of automotive chemicals serving the heavy-duty truck and automotive aftermarket segments. The Penray Companies was founded in 1951 and is based in Downers Grove, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-24 ReCommunity Holdings

Charlotte, North Carolina, United States

ReCommunity is a recycling, recovery and repowering company that is focused on dramatically reducing the volume of land-filled waste through conversion into useful products such as recycled commodities, low-carbon energy, ReEngineered Feedstock, biofuels, and other value-added recycled products. ReCommunity Holdings was founded in 2011 and is based in Charlotte, North Carolina.

Sell -
Buyer

Five Points Capital

Winston-Salem, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Five Points Capital makes both direct private equity and junior capital investments in US-based middle-market companies. Five Points prefers control based investments and will consider opportunities in a variety of industries. For both equity and mezzanine investments, the Firm looks to commit $5 to $25 million of capital in businesses with at least $10 million in sales and $3 million of EBITDA. Five Points Capital was formerly known as BB&T Capital Partners and re-branded in 2015. The Firm was established in 1997 and is based in Winston-Salem, North Carolina.


DEAL STATS #
Overall 62 of 89
Sector (Internet Software and Services) 3 of 4
Type (Buyout (LBO, MBO, MBI)) 25 of 30
State (Georgia) 3 of 5
Country (United States) 62 of 89
Year (2017) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-06 MooreCo International Holdings

Temple, Texas, United States

MooreCo is an innovative designer and manufacturer of visual-communication products, technology support equipment, and furniture for the educational and commercial office markets. The Company markets its products through three brand divisions: Best-Rite, Balt and MooreCo.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-10 Screen Engine/ASI

Los Angeles, California, United States

Screen Engine/ASI is a research and analytics firm with an emphasis on big data focused on maximizing market potential while assessing risk for clients in the entertainment and media spaces. Screen Engine/ASI was established in 2010 and is based in Los Angeles, California.

Buy -