Investment Summary

McKenna Gale Capital, Clairvest Group and Constitution Capital Partners Exits Light Tower Rentals

On October 11, 2016, private equity firm Clearlake Capital invested in energy services and equipment company Light Tower Rentals from McKenna Gale Capital, Clairvest Group and Constitution Capital Partners

Investment Highlights
  • This is Clearlake Capital’s 4th transaction in the Energy Services and Equipment sector.
  • This is Clearlake Capital’s 34th transaction in the United States.
  • This is Clearlake Capital’s 7th transaction in Texas.
Investment Fate
  • Light Tower Rentals merged with another company in 2017.

Investment Summary

Date 2016-10-11
Target Light Tower Rentals
Sector Energy Services and Equipment
Investor(s) Clearlake Capital
Sellers(s) McKenna Gale Capital
Clairvest Group
Constitution Capital Partners
Deal Type Recapitalization

Target

Light Tower Rentals

Odessa, Texas, United States
Light Tower Rentals, Inc. is a diversified specialty equipment rental company focused on oil and gas operations in the prolific Permian Basin, with yards in other leading U.S. basins including the SCOOP/STACK, Eagle Ford, Bakken and Marcellus. LTR’s core equipment rental fleet includes mobile natural gas and diesel driven power generators, light towers, mobile housing units, field heaters and fluid handling products, which are all supported by a best in class service platform.

Search 214,107 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Investor(S) 1

Investor

Clearlake Capital

Santa Monica, California, United States

Category Private Equity Firm
Founded 2006
PE ASSETS 90.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clearlake Capital Group is a private equity firm that focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds, and other equity investments. Clearlake seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include technology, industrials, and consumer. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.


DEAL STATS #
Overall 36 of 93
Sector: Energy Services and Equipment M&A 4 of 5
Type: Recapitalization M&A Deals 6 of 6
State: Texas M&A 7 of 13
Country: United States M&A 34 of 88
Year: 2016 M&A 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-08 Learfield Communications

Dallas, Texas, United States

Learfield Communications is a provider of integrated marketing solutions in college sport. Learfield has a deep presence in the college athletics landscape nationwide. It manages the multimedia and sponsorship rights for more than 120 collegiate institutions, conferences and arenas, and supports athletic departments at all competitive levels as title sponsor of the prestigious Learfield Directors’ Cup. Learfield Communications was founded in 1972 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-23 HEAT Software USA

Milpitas, California, United States

HEAT Software USA, Inc. is a provider of hybrid service management and unified endpoint management software solutions for organizations of all sizes. HEAT Software is based in Milpitas, California.

Sell -

Seller(S) 3

SELLER

McKenna Gale Capital

Toronto, Ontario, Canada

Category Private Equity Firm
Founded 1995
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

McKenna Gale Capital is a Canadian independent provider of mid-market mezzanine debt and common equity financing. McKenna looks for companies with a total enterprise value in excess of $25 million, and seeks to commit to $7 million to $75 million per transaction. The firm invests in a wide range of industries excluding real estate development, primary mining and primary oil and gas. Investments include management buyouts, acquisitions, expansion and growth capital, and go-private transactions. McKenna Gale Capital was founded in 1995 and is based in Toronto, Ontario.


DEAL STATS #
Overall 7 of 7
Sector: Energy Services and Equipment M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 4 of 4
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-08 CPI Card

Littleton, Colorado, United States

CPI Card is a provider of comprehensive financial payment card solutions in North America. CPI produces financial payment cards, provides integrated card services to card-issuing banks, and personalizes financial payment cards as well. CPI's customers are primarily national and regional banks, independent community banks, credit unions, managers of prepaid debit programs, group service providers, and card processors. CPI Card was founded in 2007 and is based in Littleton, Colorado.

Sell -
SELLER

Clairvest Group

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 4.5B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

Clairvest Group is a generalist Canadian private equity firm focused on mid-market businesses with C$10 to C$50 million of EBITDA. While Clairvest does not have any sector preferences, the Firm prefers fragmented sectors with recurring revenue business models and economies of scale. Clairvest will consider both minority and majority investment positions and invests in the range of C$25- C$100 million per transaction. Clairvest was formed in 1987 and is based in Toronto.


DEAL STATS #
Overall 14 of 31
Sector: Energy Services and Equipment M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 2
State: Texas M&A 1 of 2
Country: United States M&A 5 of 17
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-09 Digital Media Solutions

Clearwater, Florida, United States

Digital Media Solutions is a performance marketing company that uses actionable data, insightful analytics, and proprietary technology to reach, engage, and acquire customers for its clients across multiple interactive platforms. Digital Media Solutions was founded in 2012 and is based in Clearwater, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-03 Cieslok Media

Toronto, Ontario, Canada

Cieslok Media Ltd. is a outdoor advertising firm, operating predominantly large format digital and static billboards throughout major cities in Canada. The company is led by esteemed entrepreneur Jörg Cieslok, who over the last 24 years played a major role in shaping the landscape of outdoor advertising in Canada.

Sell -
SELLER

Constitution Capital Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2008
PE ASSETS 6.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Constitution Capital Partners is a private equity and asset management firm focused on opportunities throughout North America. Constitution Capital typically invests in private equity partnerships, however the Firm also makes direct private equity and credit investments. Constitution Capital Partners does not have any sector preferences. Constitution Capital Partners was formed in 2008 and is headquartered in Andover, Massachusetts.


DEAL STATS #
Overall 11 of 33
Sector: Energy Services and Equipment M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
State: Texas M&A 1 of 6
Country: United States M&A 11 of 30
Year: 2016 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-18 Chuze Fitness

San Diego, California, United States

Chuze Fitness is a big box, High‐Value-Low‐Price (“HVLP”) fitness club operator with locations across the Southwest. The Company’s facilities, which are typically over 30,000 sqft. in size, have a large selection of cardio and fitness equipment along with a number of premium amenities, including team training, group fitness, pools, jacuzzis, steam rooms, saunas, hydromassages, cycling rooms, functional training & turf areas, Chuze cinemas, smoothie bars and childcare. Chuze Fitness was founded in 2008 and is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-17 ProAmpac

Cincinnati, Ohio, United States

ProAmpac is a flexible packaging company with a comprehensive product offering. ProAmpac’s approach to sustainability – ProActive Sustainability provides innovative sustainable flexible packaging products to help our customers achieve their sustainability goals. ProAmpac was founded in 2015 and is based in Cincinnati, Ohio.

Buy -