M&A Deal Summary

LightBay Capital Acquires Burton

On December 14, 2021, private equity firm LightBay Capital acquired business services company Burton from ShoreView Industries

Acquisition Highlights
  • This is LightBay Capital’s 5th transaction in the Business Services sector.
  • This is LightBay Capital’s 10th transaction in the United States.
  • This is LightBay Capital’s 1st transaction in Nebraska.

M&A Deal Summary

Date 2021-12-14
Target Burton
Sector Business Services
Buyer(s) LightBay Capital
Sellers(s) ShoreView Industries
Deal Type Secondary Buyout
Advisor(s) Cowen Group, Inc. (Financial)
Ballard Spahr (Legal)

Target

Burton

Omaha, Nebraska, United States
Burton offers replacement, repair, and maintenance services to a large and growing customer base. The Company is a multi-brand platform that has completed six add-on acquisitions since inception, expanding its operations in Nebraska, Colorado, Wisconsin, and Kansas. Burton partners with regional HVAC, plumbing, and electrical services providers to help them grow their businesses through follow-on M&A along with additional organic growth tools and capabilities. Burton is based in Omaha, Nebraska.

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Buyer(S) 1

Buyer

LightBay Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2016
PE ASSETS 615M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

LightBay Capital is a private equity firm focused on middle-market buyouts and distressed debt opportunities. The Firm will consider investing in the range of $100 to $300 million. LightBay Capital was formed in 2016 and is based in Los Angeles, California.


DEAL STATS #
Overall 11 of 13
Sector (Business Services) 5 of 6
Type (Secondary Buyout) 2 of 4
State (Nebraska) 1 of 1
Country (United States) 10 of 12
Year (2021) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-01 Clarion Home Services Group

Lake Forest, Illinois, United States

Clarion Home Services Group offers replacement, repair and maintenance services to a large and growing customer base. The Company is a multi-brand platform with operations across Nebraska, Wisconsin, Colorado, Kansas, Utah, and Ohio. Clarion Home Services Group was founded in 1989 and is based in Lake Forest, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-11 Infinity Home Services

New Berlin, Wisconsin, United States

Infinity Home Services is a provider of residential roofing, siding, window, and gutter replacement in primarily the non-insurance, retail market. Infinity Home Services was founded in 1997 and is based in New Berlin, Wisconsin.

Buy -

Seller(S) 1

SELLER

ShoreView Industries


Category Private Equity Firm
Founded 2002
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ShoreView Industries is a middle-market private investment principally focused on partnering with family or entrepreneurial-owned companies. ShoreView will consider a variety of investment situations, including buyouts, leveraged recapitalizations, minority investments, and industry consolidations. Areas of interest include engineered products, distribution, industrial services, business services, and niche consumer products. ShoreView industries was established in 2002 and is headquartered in Minneapolis, Minnesota.


DEAL STATS #
Overall 26 of 29
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 10 of 11
State (Nebraska) 1 of 1
Country (United States) 25 of 28
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-1 Monroe Engineering

Rochester Hills, Michigan, United States

Monroe Engineering is a distributor of a broad portfolio of custom and standard hardware and component products for original equipment manufacturers, as well as maintenance, repair and operations applications. Monroe Engineering serves customers across a wide range of end markets including aerospace, defense, medical, transportation, consumer goods, building products, and other diversified industrial markets. Monroe Engineering was established in 1968 and is headquartered in Rochester Hills, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-07 All Surfaces

Bloomington, Minnesota, United States

All Surfaces is a specialty distributor of flooring, flooring sundries, and carpet pad. All Surfaces has over 40 branch locations in 16 states throughout the Midwest and Plains. The company serves a diverse customer base of builders, remodelers, contractors, and installers with a leading selection of top flooring and flooring sundries vendors. All Surfaces is based in Bloomington, Minnesota.

Buy -