M&A Deal Summary

Prospect Partners and Tecum Capital Acquire Blackwood Solutions

On June 15, 2022, private equity firms Prospect Partners and Tecum Capital acquired transportation company Blackwood Solutions

Acquisition Highlights
  • This is Prospect Partners’ 1st and Tecum Capital’s 4th transaction in the Transportation sector.
  • This is Prospect Partners’ 53rd and Tecum Capital’s 72nd transaction in the United States.
  • This is Prospect Partners’ 1st and Tecum Capital’s 4th transaction in Indiana.

M&A Deal Summary

Date 2022-06-15
Target Blackwood Solutions
Sector Transportation
Buyer(s) Prospect Partners
Tecum Capital
Deal Type Recapitalization

Target

Blackwood Solutions

Bloomington, Indiana, United States
Blackwood Solutions is a top-tier transportation and recycling company that specializes in providing safe and practical solutions. The company range of services includes new pole hauling, wood recycling for treated and untreated products, concrete recycling, inventory management yards, and storm response solutions. Blackwood Solutions was founded in 2016 and is based in Bloomington, Indiana.

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Buyer(S) 2

Buyer

Prospect Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 470M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Partners, LLC is a lower middle-market private equity firm that focuses on management buyouts and recapitalization of small companies. Prospect looks to invest $2 to $30 million of equity capital in companies with revenues of $15 to $100 million and EBITDA up to $10 million. The Firm targets opportunities in a variety of sectors spanning many sub-sectors of manufacturing, specialty distribution, and service. Transactions of interest include leverage recapitalizations, industry consolidations, corporate orphans, generational sales, under-managed companies, and backing independent equity sponsors. Prospect Partners was formed in 1998 and is based in Chicago, Illinois.


DEAL STATS #
Overall 53 of 57
Sector (Transportation) 1 of 1
Type (Recapitalization) 21 of 22
State (Indiana) 1 of 1
Country (United States) 53 of 57
Year (2022) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-15 Velocity Aerospace Group

Frisco, Texas, United States

Velocity Aerospace Group provides aviation MRO services to a global base of commercial air transports, corporate business aircraft, regional airlines, and helicopters, operating FAA-certified repair stations in California and Florida that offer a broad range of test, repair, and overhaul services, including unique capabilities in avionic, electronic instrumentation, cockpit panel, and system repairs. Velocity Aerospace Group was founded in 2013 and is based in Frisco, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-01 Central States HVAC Solutions

Ferndale, Michigan, United States

Central States HVAC Solutions is an HVAC distribution and services platform focused on providing commercial customers with top quality, turnkey products and services. Central States HVAC Solutions is based in Ferndale, Michigan.

Buy -
Buyer

Tecum Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tecum Capital is a private equity firm focused on lower middle-market companies across the Eastern-US. Tecum will consider a variety of investment situations including leveraged buyouts, management buyouts, successions, strategic acquisitions, growth capital financings, and recapitalizations. Investment sizes range from $5 - $20 million. Industries of interest include manufacturing, plastics, specialty distribution, technology, healthcare services, defense, food, and business/consumer services. Tecum will not consider investments in start-ups or real estate. Tecum Capital was formed in 2005 and is based in Wexford, Pennsylvania.


DEAL STATS #
Overall 72 of 82
Sector (Transportation) 4 of 4
Type (Recapitalization) 15 of 15
State (Indiana) 4 of 4
Country (United States) 72 of 82
Year (2022) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-07 Ullman Oil

Chagrin Falls, Ohio, United States

Ullman Oil is a full-service provider and distributor of gasoline, diesel fuel, bio-diesel, home heating oil and lubricants to commercial, industrial, and residential customers. Ullman Oil was established in 1966 and is based in Chagrin Falls, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-28 Bandon Holdings

Austin, Texas, United States

Bandon Holdings is a strategic fitness platform and the largest franchisee in the Anytime Fitness family with clubs across Texas, Oklahoma, and Kansas. The franchise has expanded significantly through new development and a proven acquisition strategy, with growth driven by consumer demand for healthier lifestyles.

Sell -