M&A Deal Summary

Littlejohn Acquires Sunbelt Modular

On November 4, 2024, private equity firm Littlejohn acquired building materials company Sunbelt Modular from MSouth Equity Partners

Acquisition Highlights
  • This is Littlejohn’s 5th transaction in the Building Materials sector.
  • This is Littlejohn’s 61st transaction in the United States.
  • This is Littlejohn’s 1st transaction in Arizona.

M&A Deal Summary

Date 2024-11-04
Target Sunbelt Modular
Sector Building Materials
Buyer(s) Littlejohn
Sellers(s) MSouth Equity Partners
Deal Type Secondary Buyout
Advisor(s) Baird (Financial)

Target

Sunbelt Modular

Phoenix, Arizona, United States
Sunbelt Modular is a manufacturer of commercial modular buildings in the U.S. The Company operates under seven distinct brands in its regional footprint: Amtex Corporation (TX), Indicom Buildings (TX), MR Steel (AZ), Phoenix Modular (AZ), ProMod Manufacturing (GA), Southeast Modular Manufacturing (FL), and Specialized Structures (GA). Sunbelt manufactures both custom and fleet modular units and serves a broad range of end-markets. Sunbelt Modular was founded in 2007 and is based in Phoenix, Arizona.

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Buyer(S) 1

Buyer

Littlejohn

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 7.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Littlejohn is a private equity firm that makes control investments in mid-sized companies undergoing change; either in capital structure, strategy, operations, or growth. Littlejohn looks to commit $50 to $250 million of equity, mezzanine, or credit capital in companies with annual revenues of $100 to $800 million. Sectors of interest include industrial equipment, packaging, chemicals, automotive and transportation parts and equipment, food and food processing, healthcare, plastics, aerospace/defense, distribution, environmental and infrastructure services, and consumer products. The Firm avoids investing in real estate, fashion, retail, and businesses engaged in high technology. Littlejohn prefers opportunities located in the US, but also considers opportunities in Europe and Canada. Littlejohn was formed in 1996 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 65 of 66
Sector: Building Materials M&A 5 of 5
Type: Secondary Buyout M&A Deals 30 of 31
State: Arizona M&A 1 of 1
Country: United States M&A 61 of 62
Year: 2024 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-06 alphabroder

Trevose, Pennsylvania, United States

alphabroder is a distributor of trade, private label, and retail apparel brands and merchandise to the promotional products marketplace. The Company supplies imprintable apparel and accessories to screen printers, embroiderers, promotional products distributors, athletic dealers, and other businesses. alphabroder is based in Trevose, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-05-27 RailPros

Irving, Texas, United States

RailPros is a provider of outsourced safety management, design & engineering, inspection, site & program management, utility observation, and training services to rail operators, utilities, state DOTs, and contractors working adjacent to rail infrastructure. RailPros has over 700 professionals across 14 offices, serving customers nationwide. RailPros was founded in 2000 and is based in Irving, Texas.

Buy -

Seller(S) 1

SELLER

MSouth Equity Partners

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

MSouth Equity Partners is a private equity firm focused on mid-sized company investments and acquisitions valued between $25 and $250 million. The Firm prefers opportunities in Southern US and looks to commit $25 to $100 million per transaction. Sectors of interest include distribution, business services, media, telecom, and specialty manufacturing. MSouth is the successor to private equity firm, Cravey, Green & Wahlen, Inc. which was founded in 1984. MSouth Equity Partners is based in Atlanta, Georgia.


DEAL STATS #
Overall 35 of 36
Sector: Building Materials M&A 2 of 2
Type: Secondary Buyout M&A Deals 14 of 15
State: Arizona M&A 1 of 1
Country: United States M&A 35 of 36
Year: 2024 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-11 Nth Degree

Duluth, Georgia, United States

Nth Degree is a provider of exhibit management and event services. The company provides specialized installation and dismantle services for trade shows and also serves as an experiential marketing and management agency. Nth Degree was founded in 1979 and is based in Duluth, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-03 Summit Spine & Joint Centers

Lawrenceville, Georgia, United States

Summit Spine & Joint Centers operates ambulatory surgery centers and pain management clinics in the greater Atlanta area. Summit provides interventional pain management treatment to patients who suffer from chronic pain symptoms. Summit Spine & Joint Centers was founded in 2014 and is based in Lawrenceville, Georgia.

Sell -