M&A Deal Summary

Mode Transportation Acquires SunteckTTS

On November 18, 2019, Mode Transportation acquired transportation company SunteckTTS from Comvest Partners

Acquisition Highlights
  • This is Mode Transportation’s 1st transaction in the Transportation sector.
  • This is Mode Transportation’s 1st transaction in the United States.
  • This is Mode Transportation’s 1st transaction in Florida.

M&A Deal Summary

Date 2019-11-18
Target SunteckTTS
Sector Transportation
Buyer(s) Mode Transportation
Sellers(s) Comvest Partners
Deal Type Add-on Acquisition
Advisor(s) Piper Sandler & Co. (Financial)
McDermott Will & Emery (Legal)

Target

SunteckTTS

Jacksonville, Florida, United States
SunteckTTS is a multi‐modal transportation solutions provider through a network of sales, operations and capacity specialists. SunteckTTS offers a business process outsource program through which independent agents represent SunteckTTS in the freight transportation marketplace. SunteckTTS was founded in 1976 and is based in Jacksonville, Florida.

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Buyer(S) 1

Buyer

Mode Transportation

Dallas, Texas, United States

Category Company
Sector Transportation
Employees308
DESCRIPTION

Mode Transportation is a provider of asset-light based, third-party logistics company focused on delivering truckload, less-than-truckload, intermodal, air and ocean services. Mode Transportation is based in Dallas, Texas.


DEAL STATS #
Overall 1 of 1
Sector: Transportation M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Florida M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2019 M&A 1 of 1

Seller(S) 1

SELLER

Comvest Partners

West Palm Beach, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Comvest Partners' headquarters in West Palm Beach, Florida.
Comvest Partners' headquarters in West Palm Beach, Florida.

Comvest Partners is a private investment firm that provides equity and debt capital to middle-market companies across North America. Comvest funds a variety of investment situations, including buyouts, divestitures, recapitalizations, consolidations, take privates, and turnarounds. Sectors of interest include business services, information services, education, financial services, healthcare services, software, IT, and transportation. For equity investments, Comvest prefers control and looks to invest $50 to $150 million per transaction. For debt needs, Comvest seeks to provide $25 to $250 million per transaction. Comvest Partners was formed in 2000 and is based in West Palm Beach, Florida.


DEAL STATS #
Overall 34 of 42
Sector: Transportation M&A 3 of 3
Type: Add-on Acquisition M&A Deals 19 of 23
State: Florida M&A 5 of 6
Country: United States M&A 34 of 42
Year: 2019 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-23 VanDeMark

Lockport, New York, United States

VanDeMark is a provider of specialty and custom chemicals focusing on phosgene production and phosgene-related chemistry. These products are used in pharmaceuticals, agricultural chemicals, polymers, sealants, coatings, and biocides. VanDeMark was founded in 1951 and is based in Lockport, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-15 Encompass Supply Chain Solutions

Lawrenceville, Georgia, United States

Encompass Supply Chain Solutions is a distributor of repair parts and accessories for products throughout the home. Encompass also offers complete parts supply chain management, 3PL, depot repair and reverse logistics services. In addition to consumers, Encompass supports an array of B2B customers, including manufacturers, multi-family property management companies, warranty providers, service networks, independent dealers and retailers. Encompass Supply Chain Solutions was founded in 1953 and is based in Lawrenceville, Georgia.

Buy -