M&A Deal Summary

Quad-C Management and Silverhawk Capital Partners Acquire K12 Coalition

On December 10, 2020, private equity firms Quad-C Management and Silverhawk Capital Partners acquired education company K12 Coalition from L Squared Capital Partners and Avante Capital Partners

Acquisition Highlights
  • This is Quad-C Management’s 3rd and Silverhawk Capital Partners’ 3rd transaction in the Education sector.
  • This is Quad-C Management’s 45th and Silverhawk Capital Partners’ 11th transaction in the United States.
  • This is Quad-C Management’s 2nd and Silverhawk Capital Partners’ 1st transaction in Minnesota.

M&A Deal Summary
Date 2020-12-10
Target K12 Coalition
Sector Education
Buyer(s) Quad-C Management
Silverhawk Capital Partners
Sellers(s) L Squared Capital Partners
Avante Capital Partners
Deal Type Secondary Buyout

Target

K12 Coalition

Eagan, Minnesota, United States
K12 Coalition provides online professional development, continuing education, and master’s degree programs for K-12 teachers. K12 Coalition was established with the mission to help teachers advance their classroom skills and careers, while also improving student learning. K12 Coalition was founded in 2002 and is based in Eagan, Minnesota.

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Buyer(S) 2

Buyer

Quad-C Management

Charlottesville, Virginia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Quad-C Management is a generalist private equity firm that makes control investments in middle-market companies operating in a wide range of industries. Target sector's include building products, business-to-business services, consumer products, distribution/logistics, equipment rental, financial services, healthcare, light manufacturing, packaging, restaurants, security, and specialty chemicals. Quad-C's target investment size is $50 to $150 million in businesses valued between $100 and $500 million and with EBITDA greater than $10 million. Prospective transaction types include recapitalizations/family successions, management buyouts, and industry consolidations. Quad-C Management was founded in 1989 and is headquartered in Charlottesville, Virginia.

DEAL STATS #
Overall 49 of 62
Sector (Education) 3 of 3
Type (Secondary Buyout) 12 of 17
State (Minnesota) 2 of 2
Country (United States) 45 of 58
Year (2020) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-25 VMG Health

Dallas, Texas, United States

VMG Health is a full-service valuation firm focused exclusively on healthcare companies. The Company provides a unique combination of healthcare industry, financial, and operational expertise to its customers nationwide. VMG Health was founded in 1995 and is based in Dallas, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-23 Inmark

Austell, Georgia, United States

Inmark is a general, life sciences, and hazardous goods/biomedical compliant packaging products and associated services company. Inmark was founded in 1975 and is based in Austell, Georgia.

Sell -
Buyer

Silverhawk Capital Partners

Greenwich, Connecticut, United States
Category Private Equity Firm
Founded 2005
PE ASSETS 450M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Silverhawk Capital Partners is a private equity firm that targets recapitalizations of family owned business, acquisitions of divisions of larger corporations, and acquisitions of growth platform businesses. Sectors of interest include manufacturing, industrial products, chemicals, business services, distribution, data management, consumer services, energy, and natural resources. The Firm looks to invest $25 to $175 million of equity capital in companies valued up to $1 billion. Silverhawk Capital Partners was established in 2005 and has offices in Greenwich, Connecticut and Charlotte, North Carolina.

DEAL STATS #
Overall 12 of 12
Sector (Education) 3 of 3
Type (Secondary Buyout) 4 of 4
State (Minnesota) 1 of 1
Country (United States) 11 of 11
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-03 Kissner Milling

Cambridge, Ontario, Canada

Kissner Milling Co., Ltd. is a producer and distributor of bulk rock salt and packaged specialty deicing products across North America. Kissner was formed in 1878 and is based in Detroit, Michigan.

Sell -

Seller(S) 2

SELLER

L Squared Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2014
PE ASSETS 550M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

L Squared Capital Partners is a private investment group focused on long-term investments in lower middle-market growth companies with $15 to $100 million in revenue. The Firm looks to commit $30 to $100 million per transaction and will consider opportunities throughout North America. Sectors of interest include tech-enabled services, industrial technology, and education. L Squared Capital was established in 2014 and is headquartered in Newport Beach, California.

DEAL STATS #
Overall 2 of 6
Sector (Education) 1 of 1
Type (Secondary Buyout) 2 of 2
State (Minnesota) 1 of 1
Country (United States) 2 of 6
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-18 GWS Tool

Tavares, Florida, United States

GWS Tool is a manufacturer of engineered custom, standard, and modified standard cutting tools, primarily servicing the aerospace and defense, power generation, automotive, and medical sectors. GWS Tool was formed in 2014 and is based in Tavares, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-10 FineLine Technologies

Norcross, Georgia, United States

FineLine Technologies provides customizable branded, barcoded, and RFID integrated labels, tags and badges for supply chain, omnichannel fulfillment, POS, access control, and consumer engagement needs. FineLine produces billions of tickets annually, processing data quickly and securely, printing high-quality graphics and scannable barcodes, encoding UHF and HF RFID, with global delivery within six business days, and online tracking, order detail, and analytics to help our customers manage their business. FineLine Technologies was founded in 1998 and is based in Norcross, Georgia.

Buy -
SELLER

Avante Capital Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

Avante Mezzanine Partners is a provider of junior capital to lower middle-market companies generating at least $3 million in cash flow. The Firm looks to invest $5 to $20 million per transaction and generally works with private equity and independent sponsors in buyout transactions, as well as with entrepreneurs and owners to finance recapitalizations, refinancings, acquisitions and growth. Avante Mezzanine was formed in 2009 and has offices in Los Angeles and Boston.

DEAL STATS #
Overall 11 of 17
Sector (Education) 2 of 2
Type (Secondary Buyout) 5 of 9
State (Minnesota) 3 of 3
Country (United States) 11 of 17
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-04 ACIS Innovative Solutions

McKinney, Texas, United States

ACIS Innovative Solutions is a provider of HVAC and plumbing maintenance services, including equipment design and replacement, vibration and oil analysis, retrofits and building automation. ACIS Innovative Solutions was founded in 2002 and is based in McKinney, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-15 Mindpath Health

Sacramento, California, United States

Mindpath Health is a behavioral health practice management company supporting over 40 affiliated psychiatrists practicing in San Joaquin and Bay Areas. Mindpath Health was founded in 1995 and is based in Sacramento, California.

Sell -
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