M&A Deal Summary

Littlejohn Acquires United Air Temp

On April 1, 2024, private equity firm Littlejohn acquired consumer services company United Air Temp from Summit Park and Capitala Group

Acquisition Highlights
  • This is Littlejohn’s 1st transaction in the Consumer Services sector.
  • This is Littlejohn’s 60th transaction in the United States.
  • This is Littlejohn’s 1st transaction in Virginia.

M&A Deal Summary
Date 2024-04-01
Target United Air Temp
Sector Consumer Services
Buyer(s) Littlejohn
Sellers(s) Summit Park
Capitala Group
Deal Type Secondary Buyout
Advisor(s) Citizens Capital Markets (Financial)
K&L Gates (Legal)

Target

United Air Temp

Lorton, Virginia, United States
United Air Temp is a provider of residential heating, ventilation, and air conditioning (HVAC) services to residential homeowners. United Air Temp is headquartered in Lorton, Virginia.

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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 64 of 64
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 29 of 29
State (Virginia) 1 of 1
Country (United States) 60 of 60
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-30 Dana Kepner

Denver, Colorado, United States

Dana Kepner is a regional, branch-based distributor of waterworks products (pipes, valves, fittings, meters, etc.). Dana Kepner was formed in 1933 and is based in Denver, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-23 Strategic Materials

Houston, Texas, United States

Strategic Materials is a recycled glass processor and independent recycled plastics processor. Strategic Materials reprocesses post-industrial and post-consumer scrap material into recycled products used by manufacturers of bottles, fiberglass, highway beads, plastic bags, and plastic films. Strategic Materials is based in Houston, Texas.

Sell -

Seller(S) 2

SELLER

Summit Park

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 245M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Summit Park Partners is a private investment firm that acquires lower middle-market companies. Summit Park looks for profitable, established businesses in consumer services, business services, value-added distribution, and light manufacturing. The Firm targets businesses with revenues of $20 to $150 million and EBITDA between $4 and $15 million. Prospective transaction types include recapitalizations, management buyouts, family successions, corporate divestitures, and industry consolidations. Summit's geographic preference is within the Southeast and Mid-Atlantic US. Summit Park was formed in 2005 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 12 of 12
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 6 of 6
State (Virginia) 1 of 1
Country (United States) 12 of 12
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-04 Michelli Weighing & Measurement

New Orleans, Louisiana, United States

Michelli Weighing & Measurement is a test and measurement business providing calibration, maintenance, inspection, and installation services and products for industrial weighing equipment, precision measurement devices, and calibration equipment. Michelli Weighing & Measurement was founded in 1947 and is based in New Orleans, Louisiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-14 Hylaine

Charlotte, North Carolina, United States

Hylaine provides strategic consulting and digital transformation services to enterprise clients across a range of industries, including financial services, insurance, industrial, and healthcare. Hylaine was founded in 2017 and is based in Charlotte, North Carolina.

Buy -
SELLER

Capitala Group

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1998
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Capitala Group is an asset manager that provides equity and mezzanine capital to mid-sized companies valued up to $250 million. Funds are generally used to support growth needs, add-on acquisitions, management/leveraged buyouts, and recapitalizations. Capitatala will invest across the US, but generally targets opportunities located in the Southeast. Industry preferences include building products, business services, consumer/reteail, general industrial, healthcare, and technology. Prospective companies typically have revenues greater than $10 million and EBITDA of at least $3 million. Capitala was formed in 1998 and is headquartered in Charlotte, North Carolina.

DEAL STATS #
Overall 52 of 53
Sector (Consumer Services) 2 of 2
Type (Secondary Buyout) 19 of 19
State (Virginia) 2 of 2
Country (United States) 51 of 52
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-26 Champion Wellness Centers

Oldsmar, Florida, United States

Champion Wellness Centers operates seven wellness centers specializing in comprehensive chiropractic services. In addition to its chiropractic wellness centers, Champion operates an eighth clinic that specializes in multidisciplinary services, including physical therapy, shockwave therapy, trigger point injections and regenerative medicine in addition to chiropractic treatment. Champion Wellness Centers is based in Oldsmar, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-11 Proactive Dealer Solutions

Huntersville, North Carolina, United States

Proactive Dealer Solutions is a multi-faceted service provider for the auto dealership and more broadly the motorized vehicle sector focused on lead management and conversion. Proactive’s services assist auto dealerships with all aspects of their sales organization by providing a full suite of integrated solutions, including hiring/training talent, call monitoring services, performance tracking, and conversion. Proactive Dealer Solutions is based in Huntersville, North Carolina.

Sell -
Mergr

Product

Company

Legal