M&A Deal Summary

Quantum Energy Partners and Olympus Partners Acquire Phoenix Services

On July 9, 2012, private equity firms Quantum Energy Partners and Olympus Partners acquired business services company Phoenix Services from GarMark Partners

Acquisition Highlights
  • This is Quantum Energy Partners’ 1st and Olympus Partners’ 5th transaction in the Business Services sector.
  • This is Quantum Energy Partners’ 34th and Olympus Partners’ 26th transaction in the United States.
  • This is Quantum Energy Partners’ 2nd and Olympus Partners’ 1st transaction in Pennsylvania.
Investment Fate
  • Phoenix Services was sold to a consortium of financial buyers in 2017.
  • Phoenix Services went bankrupt in 2022.

M&A Deal Summary

Date 2012-07-09
Target Phoenix Services
Sector Business Services
Buyer(s) Quantum Energy Partners
Olympus Partners
Sellers(s) GarMark Partners
Deal Type Recapitalization
Advisor(s) Simmons & Company (Financial)

Target

Phoenix Services

Radnor, Pennsylvania, United States
Phoenix Services is a global provider of value-added industrial services to steel mills serving world class customers such as ArcelorMittal, Nucor Steel, and US Steel, among others. The Company has a global workforce of approximately 2,100 employees and operates in 34 locations on four continents. Phoenix Services was founded in 2006 and is based in Radnor, Pennsylvania.

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Buyer(S) 2

Buyer

Quantum Energy Partners

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 17.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Quantum Energy Partners is a specialist private equity firm focused on investments within the energy sector. Quantum's primary focus is on opportunities within the oil and gas upstream and midstream sectors, however, the Firm will also consider investments in oil field services and equipment, coal, power generation and transmission, and renewable/alternative energy. Quantum's target investment size is $100 to $400 million. Quantum invests in start-ups as well as established companies needing expansion capital. Quantum Energy Partners was formed in 1998 and is headquartered in Houston, Texas.


DEAL STATS #
Overall 40 of 90
Sector: Business Services M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
State: Pennsylvania M&A 2 of 4
Country: United States M&A 34 of 79
Year: 2012 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-07 Renaissance Offshore

Houston, Texas, United States

Renaissance Offshore, LLC is a Houston, TX based company that will primarily engage in acquiring and redeveloping legacy oil producing properties in the shallow water Gulf of Mexico.

Buy $300M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-18 Vitruvian Exploration II

Woodlands, Texas, United States

Vitruvian Exploration II, LLC is focused on the acquisition, exploration and development of emerging and undeveloped oil and gas unconventional resource plays in North America. Vitruvian Exploration II was formed in 2012 and is based in The Woodlands, Texas.

Buy -
Buyer

Olympus Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 8.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Olympus Partners is a private equity group focused on investing in growth companies with strong management, and positions in their respective markets. The Firm will consider both venture capital and private equity investments and looks to commit $75 to $500 million per transaction. The Firm focuses its investment activities within the business services, healthcare, financial services, consumer, restaurant, software/IT services, and logistics/transportation industries. Olympus Partners was formed in 1988 and is based in Stamford Connecticut.


DEAL STATS #
Overall 27 of 55
Sector: Business Services M&A 5 of 9
Type: Recapitalization M&A Deals 3 of 4
State: Pennsylvania M&A 1 of 1
Country: United States M&A 26 of 53
Year: 2012 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-05 Ariel Re

Hamilton, Bermuda

Ariel Re is a reinsurance company based in Bermuda that underwrites a global portfolio of insurance and reinsurance business through offices in London, Bermuda, Atlanta and Kansas City. Ariel Re was founded in 2005 and is based in Hamilton, Bermuda.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-25 Tank Holding

Lincoln, Nebraska, United States

Tank Holding is a designer and manufacturer of proprietary rotationally-molded polyethylene and steel containers. Its broad line of products includes tanks for agricultural applications, intermediate bulk containers for hazardous material transportation, chemical storage tanks for industrial applications, as well as water and septic tanks for residential, commercial and municipal specifications. Tank Holding is based in Lincoln, Nebraska.

Sell $830M

Seller(S) 1

SELLER

GarMark Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GarMark Partners is a private investment firm that makes debt and equity investments in a wide range of companies. The Firm invests in businesses at various stages of development to facilitate acquisitions, divestitures, recapitalizations, turnarounds or growth. Garmark typically invests between $5 and $30 million with an EBITDA $3 and $25 million. The firm prefers to invest in the sectors of manufacturing/industrial products, distribution, business services, consumer brands, food/nutrition products, transportation, healthcare, retail, and restaurants. GarMark Partners was formed in 1997 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 14 of 21
Sector: Business Services M&A 2 of 2
Type: Recapitalization M&A Deals 1 of 1
State: Pennsylvania M&A 1 of 1
Country: United States M&A 12 of 19
Year: 2012 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-25 Forest Resources

Hartford City, Illinois, United States

Forest Resources LLC is a holding company engaged in manufacturing industrial packaging products, including recycled corrugated medium, kraft, crepe and specialty packaging papers as well as corrugated boxes.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-02 Glo Skin Beauty

Denver, Colorado, United States

Glo Skin Beauty is a developer, marketer and distributor of mineral-based cosmetics and high-end skincare serving dermatologists, cosmetic surgeons, licensed aestheticians, spas/salons and select specialty retailers. Company brands include glominerals, mineral fusion, glotherapeutics, and glospa. Glo Skin Beauty was founded in 1997 and is based in Denver, Colorado.

Buy -