M&A Deal Summary

Iron Creek Partners and Main Street Capital Acquire Verified Credentials

On December 3, 2021, private equity firms Iron Creek Partners and Main Street Capital acquired staffing company Verified Credentials

Acquisition Highlights
  • This is Iron Creek Partners’ 3rd and Main Street Capital’s 3rd transaction in the Staffing sector.
  • This is Iron Creek Partners’ 9th and Main Street Capital’s 124th transaction in the United States.
  • This is Iron Creek Partners’ 1st and Main Street Capital’s 2nd transaction in Minnesota.

M&A Deal Summary

Date 2021-12-03
Target Verified Credentials
Sector Staffing
Buyer(s) Iron Creek Partners
Main Street Capital
Deal Type Recapitalization

Target

Verified Credentials

Lakeville, Minnesota, United States
Verified Credentials is a provider of background screening solutions for businesses and individuals. The company serves customers across healthcare, education, hospitality, staffing, construction, government services, financial, and security industries. Verified Credentials was founded in 1984 and is headquartered in Lakeville, Minnesota.

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Buyer(S) 2

Buyer

Iron Creek Partners

Investor


Category Private Equity Firm
Founded 2009
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Iron Creek Partners is a private investment partnership focused on partnering with management teams to pursue divestitures, fundless sponsor acquisitions, and select public market investments. Iron Creek Partners was formed in 2009 and is headquartered in Santa Fe, New Mexico.


DEAL STATS #
Overall 9 of 11
Sector: Staffing M&A 3 of 3
Type: Recapitalization M&A Deals 5 of 6
State: Minnesota M&A 1 of 1
Country: United States M&A 9 of 11
Year: 2021 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-03 Credential Check

Troy, Michigan, United States

Credential Check is a provider of employment background screening and drug testing services to employers across the country. CredentialCheck has thousands of customers across the finance, manufacturing, food and retail, healthcare, and staffing industries. Credential Check was founded in 1984 and is based in Troy, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-13 CAI

Lincoln, Rhode Island, United States

CAI is a provider of specialized enterprise resource planning (ERP) software with industry expertise in several industry sectors, including seafood and other food processing and distribution, lumber and building materials, precious metal refining, and jewelry manufacturing. CAI was founded in 1977 and is based in Lincoln, Rhode Island.

Sell -
Buyer

Main Street Capital

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 8.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Main Street Capital is a public investment firm that invests in mid-market companies to support ownership transitions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives. Main Street looks for businesses opearting in basic industries with positive cash-flow and and defensible competitive advantages. Main Street generally invests $5 to $125 million in companies with $10 to $150 million of revenue and EBITDA of $3 to $20 million. Investments are usually in the form of term debt and/or direct equity. Main Street Capital was formed in 1997 and is based in Houston, Texas.


DEAL STATS #
Overall 124 of 146
Sector: Staffing M&A 3 of 4
Type: Recapitalization M&A Deals 49 of 63
State: Minnesota M&A 2 of 2
Country: United States M&A 124 of 146
Year: 2021 M&A 11 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-30 DMA Industries

Tabor City, North Carolina, United States

DMA Industries is a distributor to the North American automotive parts aftermarket, focused on the ride control segment and serving OEM, big-box retail, wholesale, and e-commerce channels. Its product portfolio includes complete strut assemblies, bare struts, shock absorbers, coil springs, brake wear sensors, and lift supports. DMA Industries was founded in 2008 and is based in Tabor City, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-07 Valley Vet Supply

Marysville, Kansas, United States

Valley Vet Supply is a retailer providing medications, vaccines, nutrition, and animal-care products for pets, livestock, and equine. The company serves customers nationwide via e-commerce, catalog, phone, and retail, with a licensed in-house pharmacy ensuring professional-grade solutions. Valley Vet Supply was founded in 1985 and is based in Marysville, Kansas.

Buy $42M