Stake Purchase • Distribution

LNC Partners, Turning Basin Capital Partners and Vigeo Investments Invest In Aquafinity

On April 1, 2021, private equity firm LNC Partners, private equity firm Turning Basin Capital Partners and family office Vigeo Investments invested in distribution company Aquafinity

Investment Context
  • This is LNC Partners’ 1st, Turning Basin Capital Partners’ 1st and Vigeo Investments’ 1st transaction in the Distribution sector.
  • This is LNC Partners’ 37th, Turning Basin Capital Partners’ 5th and Vigeo Investments’ 1st transaction in the United States.
  • This is LNC Partners’ 2nd, Turning Basin Capital Partners’ 1st and Vigeo Investments’ 1st transaction in Florida.

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Investment Summary

Date April 1, 2021
Target Aquafinity
Sector Distribution
Investor(s) LNC Partners
Turning Basin Capital Partners
Vigeo Investments
Deal Type Stake Purchase

Target Company

Aquafinity

Jupiter, Florida, United States
Aquafinity is a tech-enabled, service-supported distributor of a broad suite of water treatment equipment and supplies to commercial and institutional swimming pool and aquatic facility owners in the Southeast and Caribbean. Aquafinity is based in Jupiter, Florida.
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Investors Overview 3

Investor

LNC Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2010
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

LNC Partners is a private investment firm focused on providing $10 to $40 million of equity and junior capital to support a variety of company transactions. As a provider of debt, LNC offers subordinated debt and unitranche securities. As a provider of equity, LNC will invest as a minority or majority partner. Prospective transaction situations include buyouts, refinancings, acquisition financings, growth capital needs, and recapitalizations. Sectors of interest include business and information services, financial services, insurance, healthcare, and niche manufacturing. LNC Partners is based in Arlington, Virginia.


Deal Context for Investor #
Overall 37 of 45
Sector: Distribution 1 of 2
Type: Stake Purchase 2 of 3
State: Florida 2 of 3
Country: United States 37 of 45
Year: 2021 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-16 Kaizen Auto Care

Yuma, Arizona, United States

Kaizen Auto Care is a full-service collision repair chain that provides paint and body repair, auto glass repair, fleet services, and electric vehicle specialty services to individuals and businesses through 48 locations across Arizona, Colorado, Southern California, Iowa, Nebraska, and Nevada. The Company aims to provide quality customer service and repairs to consumers, fostering strong partnerships with its insurance carriers. Kaizen Auto Care was formed in 2013 and is based in Yuma, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-12 Cantey Tech Consulting

North Charleston, South Carolina, United States

Cantey Technology Consulting is an IT managed service provider for small and mid-sized businesses in the southeast US. Cantey Tech’s broad service offering includes cloud server management and backup, help desk support, hosting, data security and IT consulting services. Cantey Tech Consulting was founded in 2007 and is based in North Charleston, South Carolina.

Buy -
DESCRIPTION

Turning Basin Capital Partners is a private equity firm focused on lower middle-market energy companies. Specific areas of interest include service providers and equipment manufacturers focused on oil and gas development, production, and transportation as well as power generation and distribution. Turning Basin seeks to invest $2 to $5 million for controlling stakes in profitable companies with $1.5 to $5 million of EBITDA. The Firm will consider opportunities throughout North America but has a preference for opportunities in the Southeast and Gulf regions of the US. Turning Basin Capital Partners was formed in 2013 and is based in Richmond, Virginia.


Deal Context for Investor #
Overall 5 of 6
Sector: Distribution 1 of 1
Type: Stake Purchase 1 of 1
State: Florida 1 of 1
Country: United States 5 of 6
Year: 2021 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-10 Liberty Flare

Kemah, Texas, United States

Liberty Flare is a services company with a focus on the maintenance and installation of flare systems and flare towers located in industrial facilities, refineries, and midstream terminals. Liberty Flare was founded in 1979 and is based in Kemah, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-11 NGS

Atlanta, Georgia, United States

NGS is a commercial window film, graphics, and signage company in the United States. From sea to shining sea, including Hawaii and Alaska, provide full-service consultation, project management, design, and installation. NGS was founded in 2009 and is based in Atlanta, Georgia.

Buy -
DESCRIPTION

Vigeo Investments is a family backed investment firm focused on acquiring and investing in small operating companies and real estate. Vigeo targets Western US-based companies with $1 to $10 million of free cash flow and $5 to $50 million of revenue. Sectors of interest include industrial services, niche manufacturing, energy services, business services, and natural resources. Vigeo will consider both majority or minority positions and a variety of investment structures including debt. Vigeo Investments is based in Denver, Colorado.


Deal Context for Investor #
Overall 1 of 2
Sector: Distribution 1 of 1
Type: Stake Purchase 1 of 1
State: Florida 1 of 1
Country: United States 1 of 2
Year: 2021 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-11 NGS

Atlanta, Georgia, United States

NGS is a commercial window film, graphics, and signage company in the United States. From sea to shining sea, including Hawaii and Alaska, provide full-service consultation, project management, design, and installation. NGS was founded in 2009 and is based in Atlanta, Georgia.

Buy -