M&A Deal Summary

L Squared Capital Partners Acquires Elevated Facility Services Group

On May 16, 2017, private equity firm L Squared Capital Partners acquired business services company Elevated Facility Services Group from Incline Equity Partners

Acquisition Highlights
  • This is L Squared Capital Partners’ 1st transaction in the Business Services sector.
  • This is L Squared Capital Partners’ 3rd transaction in the United States.
  • This is L Squared Capital Partners’ 1st transaction in Florida.
Investment Fate
  • Elevated Facility Services Group was sold to a publicly-traded strategic buyer in 2024 for 570M USD.

M&A Deal Summary

Date 2017-05-16
Target Elevated Facility Services Group
Sector Business Services
Buyer(s) L Squared Capital Partners
Sellers(s) Incline Equity Partners
Deal Type Recapitalization
Advisor(s) BB&T Capital Markets (Financial)

Target

Elevated Facility Services Group

Tampa, Florida, United States
Elevated Facility Services Group is a provider of elevator maintenance, repair, and modernization services across all major brands of equipment. Oracle Elevator currently operates 22 branch locations across 13 states. Elevated Facility Services Group is based in Tampa, Florida.

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Buyer(S) 1

Buyer
DESCRIPTION

L Squared Capital Partners is a private investment group focused on long-term investments in lower middle-market growth companies with $15 to $100 million in revenue. The Firm looks to commit $30 to $100 million per transaction and will consider opportunities throughout North America. Sectors of interest include tech-enabled services, industrial technology, and education. L Squared Capital was established in 2014 and is headquartered in Newport Beach, California.


DEAL STATS #
Overall 3 of 17
Sector: Business Services M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 4
State: Florida M&A 1 of 2
Country: United States M&A 3 of 17
Year: 2017 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-13 K12 Coalition

Eagan, Minnesota, United States

K12 Coalition provides online professional development, continuing education, and master’s degree programs for K-12 teachers. K12 Coalition was established with the mission to help teachers advance their classroom skills and careers, while also improving student learning. K12 Coalition was founded in 2002 and is based in Eagan, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-10 Lumaverse

Charlotte, North Carolina, United States

Lumaverse is a platform joining companies that solve group management challenges for nonprofits and K-12 schools. The company lights the way to increased engagement, data-driven insights and streamlined group management that lets organizations spend less time organizing spreadsheets and checklists and more time building lasting connections with their communities. Lumaverse is based in Charlotte, North Carolina.

Buy -

Seller(S) 1

SELLER

Incline Equity Partners

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 5.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Incline Equity Partners is a private equity firm focused on lower middle-market growth companies. The Firm targets companies located in the US and Canada with enterprise values ranging from $25 to $750 million. Prospective transaction types include buyouts, minority recapitalizations, and corporate divestitures. Incline Equity Partners was formerly known as PNC Equity Partners. The Firm is based in Pittsburgh.


DEAL STATS #
Overall 22 of 43
Sector: Business Services M&A 3 of 6
Type: Recapitalization M&A Deals 3 of 3
State: Florida M&A 2 of 2
Country: United States M&A 21 of 42
Year: 2017 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-15 Dorner Mfg.

Hartland, Wisconsin, United States

Dorner Mfg. Corp. is a US-based major global provider of purpose-built, high-quality precision conveyor systems utilized in process automation operations to enhance productivity, quality, and profitability throughout the production process. Dorner Mfg. Corp was formed in 1996 and is based in Hartland, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-31 Double E

West Bridgewater, Massachusetts, United States

Double E is a manufacturer of highly-engineered components for web converting applications. The company's product offering includes critical wear components such as chucks, brakes, shafts, slitters, web guides, core cutters, and roll movers. These products secure, straighten, apply tension, cut, and move rolled raw materials through continuous manufacturing processes. Double E was established in 1972 and is headquartered in West Bridgewater, Massachusetts.

Sell -