M&A Deal Summary

L2 Capital Partners, Lakewood Capital and Patriot Capital Acquire Orion Talent

On December 3, 2018, family office L2 Capital Partners, private equity firm Lakewood Capital and private equity firm Patriot Capital acquired staffing company Orion Talent from Centre Partners Management

Acquisition Highlights
  • This is L2 Capital Partners’ 2nd, Lakewood Capital’s 1st and Patriot Capital’s 2nd transaction in the Staffing sector.
  • This is L2 Capital Partners’ 9th, Lakewood Capital’s 8th and Patriot Capital’s 88th transaction in the United States.
  • This is L2 Capital Partners’ 1st, Lakewood Capital’s 1st and Patriot Capital’s 6th transaction in North Carolina.

M&A Deal Summary
Date 2018-12-03
Target Orion Talent
Sector Staffing
Buyer(s) L2 Capital Partners
Lakewood Capital
Patriot Capital
Sellers(s) Centre Partners Management
Deal Type Secondary Buyout

Target

Orion Talent

Cary, North Carolina, United States
Orion Talent provides skilled talent acquisition, recruitment optimization, and military hiring to businesses nationwide. Orion Talent helps organizations acquire the best talent from around the world. Orion Talent was founded in 1991 and is based in Cary, North Carolina.

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Buyer(S) 3

Buyer

L2 Capital Partners

Devon, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Family Office
Founded 2011
Size Small
Type Sector Agnostic
DESCRIPTION

L2 Capital Partners is a lower middle-market private equity firm focused on investing in manufacturing, distribution and service companies. L2 looks to invest up to $20 million per transaction to support shareholder liquidity needs, ownership transitions, or for growth. L2 will consider opportunities throughout North America with generating $10 to $125 million in revenue and up to $20 million of EBITDA. L2 Capital was formed in 2011 and is based in Devon, Pennsylvania.

DEAL STATS #
Overall 9 of 17
Sector (Staffing) 2 of 2
Type (Secondary Buyout) 2 of 2
State (North Carolina) 1 of 1
Country (United States) 9 of 17
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-16 reQuire

Virginia Beach, Virginia, United States

reQuire LLC is a provider of an online lien release tracking and reporting service for the real estate settlement services sector. reQuire is based in Virginia Beach, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-22 Jurassic Quest

Spring, Texas, United States

Jurassic Quest is an operator of family event business that produces the major interactive dinosaur events in North America. Jurassic Quest is a most realistic dinosaur-themed exhibition in the United States. JQ operated two touring companies that covered approximately 90 events in 34 states with over 80 life-like dinosaurs in each exhibition; displays span the Cretaceous, Triassic and Jurassic eras. Life-sized dinosaurs are exhibited in their natural habitats and placed in action scenes in convention halls and expo centers to educate, entertain and thrill the audience. Jurassic Quest was founded in 2013 and is based in Spring, Texas.

Buy -
Buyer

Lakewood Capital

Rowayton, Connecticut, United States

Investor

Category Private Equity Firm
Founded 2007
Size Small
Type Sector Agnostic
DESCRIPTION

Lakewood Capital is a private equity firm that invests in profitable, mid-sized companies with EBITDA of $2 to $25 million. Lakewood focuses on opportunities in healthcare and industrial manufacturing services. Lakewood Capital was founded in 2007 and is based in Rowayton, Connecticut.

DEAL STATS #
Overall 8 of 8
Sector (Staffing) 1 of 1
Type (Secondary Buyout) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 8 of 8
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-17 VSI Global

Cleveland, Ohio, United States

VSI Global is a provider of floor care equipment re-manufacturing and management services. VSI facilities Cleaning and Disinfecting Equipment Repair, Fleet Management & Maintenance, including vacuums, large cleaning equipment, and electrostatic sprayers. VSI Global was founded in 1994 and is based in Cleveland, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-02 HB&G

Troy, Alabama, United States

HB&G is a designer and manufacturer of synthetic and wood specialty millwork, consisting primarily of exterior and interior columns, as well as exterior posts, railings, and ceilings for porch and deck applications. HB&G was founded in 1880 and is based in Troy, Michigan.

Sell -
Buyer

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $5 to $25 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.

DEAL STATS #
Overall 88 of 109
Sector (Staffing) 2 of 3
Type (Secondary Buyout) 12 of 14
State (North Carolina) 6 of 7
Country (United States) 88 of 109
Year (2018) 10 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-19 PlayMonster

Beloit, Wisconsin, United States

PlayMonster is a provider in the toy and game industry, and designs, manufactures, distributes, and markets games, children’s puzzles, preschool toys, creative activities, and teaching tools. PlayMonster was founded in 1985 and is based in Beloit, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-11 Eddy Packing Company

Yoakum, Texas, United States

Eddy Packing Company is a broadly diversified, premier processor of beef, pork, and poultry products. The Company offers a complete line of fully cooked, marinated, cured, fresh, and frozen meat products, such as smoked sausage, fajita meat, pulled beef/pork/chicken, ribs, pork chops/loins, chicken breast, brisket, and other meat products. Eddy Packing was founded in 1953 and is based in Yoakum, Texas.

Buy -

Seller(S) 1

SELLER

Centre Partners Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1986
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Centre Partners is a private equity firm focused on investments in North American middle-market companies 'with strong growth prospects, predictable cash flows, and defensible competitive positions'. Prospective transactions include investments in privately owned companies, growth capital financings, management buyouts/buy-ins, divestitures, and take privates. The Firm's typical investment size is $10 to $50 million. Areas of interest include consumer products and services, cable/media, business services, energy, financial services, healthcare, industrial, and retail. Centre Partners was formed in 1986 and has offices in New York, New York and Los Angeles, California.

DEAL STATS #
Overall 28 of 31
Sector (Staffing) 1 of 1
Type (Secondary Buyout) 10 of 13
State (North Carolina) 1 of 1
Country (United States) 27 of 30
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-16 Guy & O Neill

Fredonia, Wisconsin, United States

Guy & O'Neill is a manufacturer and developer of household cleaning and personal care products. Guy & O'Neill provides a one-stop shop solution for blending, liquid-fill, converting and packaging needs for leading consumer packaged goods companies and retailers. Guy & O'Neill was founded in 1975 and is based in Fredonia, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-29 One World Fitness

Windham, New Hampshire, United States

One World Fitness is an owner and operator of fitness clubs under the Planet Fitness banner. One World Fitness manages 18 Planet Fitness facilities and has a proven track record of new club development, having opened three de novo facilities in each of the past three years. One World Fitness was founded in 2006 and is based in Windham, New Hampshire.

Buy -
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