M&A Deal Summary

Antares Capital, Nautic Partners and Lone Star Funds Acquire Venturi Restoration

On March 22, 2016, private equity firms Antares Capital, Nautic Partners and Lone Star Funds acquired construction company Venturi Restoration from Backcast Partners and Goense Capital Partners

Acquisition Highlights
  • This is Antares Capital’s 2nd, Nautic Partners’ 1st and Lone Star Funds’ 1st transaction in the Construction sector.
  • This is Antares Capital’s 25th, Nautic Partners’ 50th and Lone Star Funds’ 6th transaction in the United States.
  • This is Antares Capital’s 4th, Nautic Partners’ 5th and Lone Star Funds’ 1st transaction in Illinois.
Investment Fate
  • Venturi Restoration was sold to a strategic buyer in 2023.

M&A Deal Summary

Date 2016-03-22
Target Venturi Restoration
Sector Construction
Buyer(s) Antares Capital
Nautic Partners
Lone Star Funds
Sellers(s) Backcast Partners
Goense Capital Partners
Deal Type Secondary Buyout

Target

Venturi Restoration

Schaumburg, Illinois, United States
Venturi Restoration is a property reconstruction and renovation industries serving thousands of residential, commercial and multi-family customers from United States. Venturi Restoration was founded in1997 and is based in Schaumburg, Illinois.

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Buyer(S) 3

Buyer

Antares Capital

Miami, Florida, United States

Investor Investor


Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Antares Capital is a private investment group that targets growth capital financings as well as management buyout opportunities. The Firm focuses on investments based in the Southeast US and Texas. Prospective companies generally have proven business models, modest capital requirements for growth, and operate in large and growing markets. The Firm looks to commit $500k to $5 million per investment. Antares will not invest in real estate, mineral exploration, distributors, franchisees, or project financings. Antares was founded in 1993 and is based in Miami, Florida.


DEAL STATS #
Overall 26 of 55
Sector (Construction) 2 of 2
Type (Secondary Buyout) 15 of 30
State (Illinois) 4 of 7
Country (United States) 25 of 54
Year (2016) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-15 Alcami

Wilmington, North Carolina, United States

Alcami is a fully-integrated end-to-end contract development and manufacturing organization. Alcami serves pharmaceutical and biotech companies of all sizes providing customizable and innovative solutions for analytical development, clinical to commercial sterile and oral solid manufacturing, packaging, microbiology, cGMP biostorage, environmental monitoring, and pharmaceutical support services. Alcami was founded in 1979 and is based in Wilmington, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-05 Dimora Brands

Somerville, New Jersey, United States

Dimora Brands is a designer, distributor, and manufacturer of decorative hardware, functional hardware, and other products for the kitchen and bath industries. Dimora Brands was founded in 1994 and is headquartered in Somerville, New Jersey.

Buy -
Buyer

Nautic Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Nautic Partners is a private equity firm focused on middle-market company investments based in the US. Nautic looks to invest $50 to $400 million of equity in businesses valued between $100 million and $1 billion. Nautic's industry focus is business services, manufacturing, healthcare, and communications. Prospective investment structures include buyouts, recapitalizations, consolidations, and growth financings. Nautic prefers majority investment positions. Nautic Partners was formed in 1986 and is based in Providence, Rhode Island.


DEAL STATS #
Overall 51 of 79
Sector (Construction) 1 of 1
Type (Secondary Buyout) 14 of 23
State (Illinois) 5 of 5
Country (United States) 50 of 78
Year (2016) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-16 ExactCare

Valley View, Ohio, United States

ExactCare is a full-service pharmacy that specializes in medication management for patients with multiple disease states and on multiple medications. ExactCare was founded in 2013 and is based in Valley View, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-12 Eagle Infrastructure Services

Houston, Texas, United States

Eagle Infrastructure Services provides third-party inspection services for the maintenance of oil and natural gas transmission, distribution, midstream and gathering lines, and other critical infrastructure. Other infrastructure includes refinery, power plant, compressor and pump stations, and mechanical integrity projects. A-C also offers complementary, specialized nondestructive and qualification services across the entire spectrum of the industry. Eagle Infrastructure Services was founded in 1991 and is based in Houston, Texas.

Sell -
Buyer

Lone Star Funds

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 85.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Lone Star Funds is a global private investment firm focused on investing across several strategies. The Firm's primary investment activity surrounds financial services and real estate. Lone Star generally looks to acquire distressed debt and equity assets including corporate, commercial real estate, single family residential and consumer debt products as well as banks and asset rich operating companies. Lone Star was formed in 1995 and is based in Dallas, Texas with additional offices across Western Europe and Asia.


DEAL STATS #
Overall 14 of 28
Sector (Construction) 1 of 1
Type (Secondary Buyout) 6 of 13
State (Illinois) 1 of 1
Country (United States) 6 of 13
Year (2016) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-28 MRH

Epping, United Kingdom

MRH is the second largest independent forecourt operator in the U.K. with 439 stations operating under the BP, Shell, Esso, Texaco, JET and Murco fuel brands. MFG offers the Murco brand through a network of 200 dealers and its retail offerings include Subway and Costa Coffee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-25 Forterra

Irving, Texas, United States

Forterra is a manufacturer of water and drainage pipe and products in the U.S. and Eastern Canada for a variety of water-related infrastructure applications, including water transmission, distribution, drainage, and stormwater systems. Forterra was founded in 1899 and is based in Irving, Texas.

Sell -

Seller(S) 2

DESCRIPTION

Backcast Partners is a private investment firm focused on providing debt and equity financing solutions to mid-sized companies with $10 to $50 million in revenue. Backcast invests in businesses owned or backed by private equity firms, as well as businesses owned by families, management teams, or others. Investment proceeds are typically used for acquisitions, strategic and growth initiatives, or simply to refinance existing capital structures. Backcast Partners was formed in 2016 and is headquartered in Millburn, New Jersey.


DEAL STATS #
Overall 1 of 2
Sector (Construction) 1 of 1
Type (Secondary Buyout) 1 of 2
State (Illinois) 1 of 1
Country (United States) 1 of 2
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-28 Renegade

Fort Worth, Texas, United States

Renegade is a provider of recurring wellhead production and infrastructure services, operations and maintenance employment services, and automation services to blue-chip oil and natural gas producers. Renegade was founded in 2006 and is based in Fort Worth, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-01 Arcticom Group

Walnut Creek, California, United States

Arcticom Group is a network of commercial and industrial refrigeration companies that provide HVACR service/maintenance across the Western United States and installation services throughout North America. Arcticom Group is based in Walnut Creek, California.

Buy -
SELLER

Goense Capital Partners

Chicago, Illinois, United States

Investor Investor


Category Private Equity Firm
Founded 2008
PE ASSETS 225M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Goense Capital Partners is a private equity firm focused on making control investments alongside management teams in small to mid-sized business service companies. Goense looks for North American businesses with predictable cash-flow ($2 million+ of EBITDA), identifiable growth opportunities, and market segment leadership. Target transaction situations include consolidations, family successions, shareholder liquidity needs, LBOs, MBOs, and growth capital financings. The Firm prefers to be the lead investor and has a target investment size of $1 to $30 million. Goense was formed in 2008 after becoming independent from Goense Bounds & Partners. The Firm is and is based in Chicago, Illinois.


DEAL STATS #
Overall 7 of 10
Sector (Construction) 2 of 3
Type (Secondary Buyout) 3 of 6
State (Illinois) 2 of 2
Country (United States) 7 of 10
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-25 Pinnacle Stone & Tile

Fairfield, California, United States

Pinnacle Stone & Tile is a provider of excellent service at a compelling value for our customers. Our team of fabricators, tile setters and installation crews have been associated with some of the largest and most respected commercial and residential projects in Northern California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-01 Arcticom Group

Walnut Creek, California, United States

Arcticom Group is a network of commercial and industrial refrigeration companies that provide HVACR service/maintenance across the Western United States and installation services throughout North America. Arcticom Group is based in Walnut Creek, California.

Buy -