M&A Deal Summary

MSouth Equity Partners and Five Points Capital Acquire Thompson Industrial Services

On December 15, 2010, private equity firms MSouth Equity Partners and Five Points Capital acquired business services company Thompson Industrial Services from Five Points Capital and Parkway Capital

Acquisition Highlights
  • This is MSouth Equity Partners’ 2nd and Five Points Capital’s 4th transaction in the Business Services sector.
  • This is MSouth Equity Partners’ 10th and Five Points Capital’s 30th transaction in the United States.
  • This is MSouth Equity Partners’ 1st and Five Points Capital’s 4th transaction in South Carolina.
Investment Fate
  • Thompson Industrial Services was sold to a publicly-traded strategic buyer in 2023.

M&A Deal Summary

Date 2010-12-15
Target Thompson Industrial Services
Sector Business Services
Buyer(s) MSouth Equity Partners
Five Points Capital
Sellers(s) Five Points Capital
Parkway Capital
Deal Type Recapitalization

Target

Thompson Industrial Services

Sumter, South Carolina, United States
Thompson Industrial Services is a provider of comprehensive industrial cleaning services to a wide array of industrial market segments including pulp and paper, utilities, petrochemical and refining, steel, nuclear, rubber and tire, food processing, chemical, automotive, paint, and resin. Thompson was formed in 1986 and is based in Sumter, South Carolina.

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Buyer(S) 2

Buyer

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 10 of 43
Sector: Business Services M&A 2 of 7
Type: Recapitalization M&A Deals 2 of 5
State: South Carolina M&A 1 of 2
Country: United States M&A 10 of 43
Year: 2010 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-05 Jen-Coat

Westfield, Massachusetts, United States

Jen-Coat, Inc. supplies the food packaging, health care and industrial markets with a wide range of extrusion coated and laminated, metallized, and adhesive laminated structures. Products include sugar/sugar sub packets, paper/ foil laminations, film/foil laminations, composite can laminations, coated nonwovens, QSR wrap, release papers and many other specialty packaging materials.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-02 Fischbein

Statesville, North Carolina, United States

Fischbein designs, manufactures, and distributes packaging and material handling equipment. The Company offers filling, weighing, closing, handling, palletizing equipment, and sewing and sealing equipment. Fischbein is headquartered in Statesville, North Carolina.

Buy -
Buyer

Five Points Capital

Winston-Salem, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Five Points Capital makes both direct private equity and junior capital investments in US-based middle-market companies. Five Points prefers control based investments and will consider opportunities in a variety of industries. For both equity and mezzanine investments, the Firm looks to commit $5 to $25 million of capital in businesses with at least $10 million in sales and $3 million of EBITDA. Five Points Capital was formerly known as BB&T Capital Partners and re-branded in 2015. The Firm was established in 1997 and is based in Winston-Salem, North Carolina.


DEAL STATS #
Overall 30 of 89
Sector: Business Services M&A 4 of 12
Type: Recapitalization M&A Deals 7 of 21
State: South Carolina M&A 4 of 4
Country: United States M&A 30 of 89
Year: 2010 M&A 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-13 Cavalier Telephone

Richmond, Virginia, United States

Cavalier Telephone LLC is a provider of reliable and efficient telecommunications solutions for business, consumer, and government customers.

Sell $460M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-06 Conisus

Atlanta, Georgia, United States

Conisus provides scientific-oriented promotional marketing and education solutions to a diverse group of biopharmaceutical companies to assist in the promotion and education of oncology drugs and therapies. Conisus was formed in 2007 and is based in Atlanta, Georgia.

Buy -

Seller(S) 2

SELLER

Five Points Capital

Winston-Salem, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Five Points Capital makes both direct private equity and junior capital investments in US-based middle-market companies. Five Points prefers control based investments and will consider opportunities in a variety of industries. For both equity and mezzanine investments, the Firm looks to commit $5 to $25 million of capital in businesses with at least $10 million in sales and $3 million of EBITDA. Five Points Capital was formerly known as BB&T Capital Partners and re-branded in 2015. The Firm was established in 1997 and is based in Winston-Salem, North Carolina.


DEAL STATS #
Overall 6 of 58
Sector: Business Services M&A 1 of 9
Type: Recapitalization M&A Deals 1 of 5
State: South Carolina M&A 3 of 6
Country: United States M&A 6 of 58
Year: 2010 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-13 Cavalier Telephone

Richmond, Virginia, United States

Cavalier Telephone LLC is a provider of reliable and efficient telecommunications solutions for business, consumer, and government customers.

Sell $460M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-06 Conisus

Atlanta, Georgia, United States

Conisus provides scientific-oriented promotional marketing and education solutions to a diverse group of biopharmaceutical companies to assist in the promotion and education of oncology drugs and therapies. Conisus was formed in 2007 and is based in Atlanta, Georgia.

Buy -
SELLER

Parkway Capital

Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Parkway Capital is the mezzanine finance unit of Calvert Street Partners. Parkway's investments typically take the form of subordinated debt, which can be combined with a junior secured loan or preferred stock. If an opportunity calls for common equity, Parkway can also co-invest with other shareholders. Parkway looks to commit $3 to $12 million of capital per transaction in companies with at least $10 million in revenue and EBITDA in excess of $2 million. Funds are generally used to support business expansions, corporate acquisitions, leverage buyouts, recapitalization, ownership transfers, and 'wealth diversification'. Parkway Capital was formed in 2000 and became a unit of Calvert Street in 2019.


DEAL STATS #
Overall 4 of 13
Sector: Business Services M&A 2 of 2
Type: Recapitalization M&A Deals 1 of 1
State: South Carolina M&A 1 of 2
Country: United States M&A 4 of 13
Year: 2010 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-12-21 JF Petroleum Group

Morrisville, North Carolina, United States

JF Petroleum Group is a turnkey solution provider to the North American fueling infrastructure industry. The company distributes, installs, and services fueling equipment for retail fueling stations, commercial and government fleets, and emergency power customers. JF Petroleum Group was founded in 1945 and is based in Morrisville, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-24 Easley Custom Plastics

Easley, South Carolina, United States

Easley Custom Plastics (fka: CH Industries, Inc.) is a full service custom injection molder which specializes in large size, difficult to manufacture polypropylene products and components.

Sell -