M&A Deal Summary

Patriot Capital, Progress Equity Partners, Transition Capital Partners and Evolve Capital Acquire D&S Community Services

On March 31, 2005, private equity firm Patriot Capital, private equity firm Progress Equity Partners, family office Transition Capital Partners and private equity firm Evolve Capital acquired consumer services company D&S Community Services

Acquisition Highlights
  • This is Patriot Capital’s 1st, Progress Equity Partners’ 1st, Transition Capital Partners’ 1st and Evolve Capital’s 1st transaction in the Consumer Services sector.
  • This is Patriot Capital’s 5th, Progress Equity Partners’ 5th, Transition Capital Partners’ 4th and Evolve Capital’s 3rd transaction in the United States.
  • This is Patriot Capital’s 1st, Progress Equity Partners’ 1st, Transition Capital Partners’ 2nd and Evolve Capital’s 2nd transaction in Texas.
Investment Fate
  • D&S Community Services was sold to a consortium of financial buyers in 2016.
  • D&S Community Services was sold to a strategic buyer in 2021.

M&A Deal Summary

Date 2005-03-31
Target D&S Community Services
Sector Consumer Services
Buyer(s) Patriot Capital
Progress Equity Partners
Transition Capital Partners
Evolve Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

D&S Community Services

Austin, Texas, United States
D&S Community Services emphasizes exceptional quality services and innovation and offers a broad array of home and community-based services specially designed to help individuals with I/DD realize a life of independence and self-determination. D&S Community Services was founded in 1991 and headquartered in Austin, Texas.

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Buyer(S) 4

Buyer

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $5 to $25 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.


DEAL STATS #
Overall 5 of 112
Sector: Consumer Services M&A 1 of 4
Type: Buyout (LBO, MBO, MBI) M&A Deals 3 of 34
State: Texas M&A 1 of 14
Country: United States M&A 5 of 112
Year: 2005 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-16 Dedicated Transport

Cleveland, Ohio, United States

Dedicated Transport LLC specializes in the design, development, and execution of supply chain solutions and offers engineered transportation solutions.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-07-29 Fairchild Industrial Products Co.

Winston-Salem, North Carolina, United States

Fairchild Industrial Products Co. is a designer and manufacturer of pneumatic and electro-pneumatic industrial control products and power transmission products. Fairchild's products are sold to a variety of end user markets, including the food processing, pharmaceutical, oil and gas, paper and pulp, textile, and automotive industries.

Buy -
Buyer

Progress Equity Partners

Dallas, Texas, United States

Investor Investor Investor Investor


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

Progress Equity Partners is a private investment firm that seeks control positions in 'well-managed, entrepreneurial, service-based businesses.' Progress focuses on companies with sustainable/scalable business models and low capital expenditures. Specific areas of interest include building products/construction services, communication, marketing, facility maintenance services, franchising, manufacturing, retail, specialty food and healthcare services. Progress Equity Partners is based in Dallas, Texas.


DEAL STATS #
Overall 5 of 19
Sector: Consumer Services M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 3 of 7
State: Texas M&A 1 of 2
Country: United States M&A 5 of 19
Year: 2005 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 Oncology Molecular Imaging

Woodstock, Georgia, United States

Oncology Molecular Imaging, LLC (OMI) is a provider of Positron Emission Tomography ("PET") and Computer Tomography ("CT") imaging services to small and mid-sized oncology groups. Oncology Molecular Imaging was founded in 2005 and is based in Woodstock, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-01 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 -
Buyer

Transition Capital Partners

Southlake, Texas, United States

Investor Investor Investor Investor


Category Family Office
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Transition Capital Partners is a private investment firm focused on leveraged recapitalizations of entrepreneurial service-based businesses. Transition generally looks for high-growth companies with $3 million to $20 million of EBITDA where the firm can help position the company for the next level of growth. Sectors of interest include healthcare services, non-asset based logistics, retail, alternative energy and services, security services, direct marketing, software, branded food/beverage, education, telecom, oil/gas services, and outsourcing. The Firm is affiliated with family office Patterson Thoma Investments. Transition Capital Partners was formed in 1993 and is based in Southlake, Texas.


DEAL STATS #
Overall 4 of 29
Sector: Consumer Services M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 3 of 20
State: Texas M&A 2 of 17
Country: United States M&A 4 of 29
Year: 2005 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-01 Tributary Systems

Bedford, Texas, United States

Tributary Systems, Inc (TSI) was the global leader in providing secure storage and virtualization solutions for the high availability (fault-tolerant) Tandem and other enterprise computing platforms. TSI?s fully integrated solutions were designed for the most demanding high availability backup storage environments running mission critical applications. Recognizing that TSI was the current market leader, and that other fault-tolerant systems would eventually be introduced to the market, TCP was able to execute a pricing strategy to generate a very healthy return before managing a designed wind-down of the investment 5 years later.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-01 Texas Home Health

Dallas, Tennessee, United States

Guardian Home Care Holdings is a provider of home healthcare and hospice services with over 40 offices in Texas, Georgia and Tennessee.

Sell -
Buyer

Evolve Capital

Dallas, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Evolve Capital is a private equity firm focused exclusively on recapitalization investments in growth-oriented service based businesses. Evolve looks companies that are asset light, growing rapidly, and potentially operate in a regulated environment. Target companies typically have trailing EBITDA of $2 to $4 million and are located in the US. Evolve Capital was formed in 2005 and is based in Dallas, Texas.


DEAL STATS #
Overall 3 of 15
Sector: Consumer Services M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 4
State: Texas M&A 2 of 4
Country: United States M&A 3 of 15
Year: 2005 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-23 Future Foods

Carrollton, Texas, United States

Future Foods is a supplier of seafood salads, dips and spreads to grocery stores and other retailers. Future Foods was founded in 1984 and is based in Carrollton, Texas.

Sell $43M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-01 Texas Home Health

Dallas, Tennessee, United States

Guardian Home Care Holdings is a provider of home healthcare and hospice services with over 40 offices in Texas, Georgia and Tennessee.

Sell -