M&A Deal Summary

Lee Equity Partners Acquires TLC Hospitality

On October 15, 2019, private equity firm Lee Equity Partners acquired transportation company TLC Hospitality from TZP Group

Acquisition Highlights
  • This is Lee Equity Partners’ 1st transaction in the Transportation sector.
  • This is Lee Equity Partners’ 22nd transaction in the United States.
  • This is Lee Equity Partners’ 5th transaction in Texas.

M&A Deal Summary

Date 2019-10-15
Target TLC Hospitality
Sector Transportation
Buyer(s) Lee Equity Partners
Sellers(s) TZP Group
Deal Type Secondary Buyout
Advisor(s) Baird (Financial)
GreenbergTraurig (Legal)

Target

TLC Hospitality

Garland, Texas, United States
TLC Hospitality is an asset-light logistics provider of FF&E. Customers of TLC include REITs, management companies, purchasing groups, developers, general contractors, designers, and individual owner-operators. TLC Hospitality is based in Garland, Texas.

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Buyer(S) 1

Buyer

Lee Equity Partners

New York, New York, United States

Category Private Equity Firm
Founded 2006
PE ASSETS 4.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Lee Equity Partners is a private investment firm that looks for buyout and growth capital investments across a range of industries. Lee Equity Partners seeks investments requiring $50 to $150 million of equity capital. Lee Equity Partners was formed in 2006 by Thomas H. Lee, formerly of Thomas H. Lee Partners, LP.


DEAL STATS #
Overall 23 of 38
Sector (Transportation) 1 of 1
Type (Secondary Buyout) 8 of 13
State (Texas) 5 of 5
Country (United States) 22 of 34
Year (2019) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-14 K2 Insurance

San Diego, California, United States

K2 Insurance is an insurance services holding company, which owns a diverse group of MGAs that underwrite and distribute specialty property and casualty insurance products. K2 Insurance was founded in 2011 and is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-22 Cosmetic Solutions

Boca Raton, Florida, United States

Cosmetic Solutions is a manufacturer of turnkey private label skincare and provider in the custom formulation of scientifically proven, naturally effective personal care products. Cosmetic Solutions was founded in 1991 and is based in Boca Raton, Florida.

Buy -

Seller(S) 1

SELLER

TZP Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

TZP Group is a private equity firm focused on the business and consumer services sectors. Specific areas of interest include franchising, outsourced business, and IT services, marketing and media services, travel content and distribution, real estate services, specialty finance, and consumer health services. TZP looks to invest $10 to $130 million in for minority or minority positions in profitable companies with at least $10 million in revenue. TZP Group was formed in 2007 and is based in New York City.


DEAL STATS #
Overall 5 of 16
Sector (Transportation) 1 of 1
Type (Secondary Buyout) 4 of 7
State (Texas) 2 of 2
Country (United States) 5 of 15
Year (2019) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-08 Quest Events

Frisco, Texas, United States

Quest Events is a provider of pipe and drape, scenic and furnishing rental solutions to the AV, hospitality, events, bridal and exhibition industries in North America. With 27 locations across the U.S. and an office in Toronto, Canada, Quest Events partners with clients to provide creative, effective and efficient rental solutions and installation services. Quest Events was formed in 1998 and is based in Frisco, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-22 Global Employment Solutions

Littleton, Colorado, United States

Global Employment Solutions, Inc. provides Information Technology and Professional staffing services in the commercial and government markets under the brands Fahrenheit IT, ITEC and Global Employment Solutions. GES employs over 1,500 professionals with office locations in 13 markets.

Sell -