M&A Deal Summary

Roark Capital Group and Kohlberg & Company Acquire GPRS

On January 13, 2025, private equity firms Roark Capital Group and Kohlberg & Company acquired technology hardware company GPRS from Kohlberg & Company, Maranon Capital and CIVC Partners

Acquisition Highlights
  • This is Roark Capital Group’s 1st and Kohlberg & Company’s 3rd transaction in the Technology Hardware sector.
  • This is Roark Capital Group’s 43rd and Kohlberg & Company’s 80th transaction in the United States.
  • This is Roark Capital Group’s 1st and Kohlberg & Company’s 6th transaction in Ohio.

M&A Deal Summary

Date 2025-01-13
Target GPRS
Sector Technology Hardware
Buyer(s) Roark Capital Group
Kohlberg & Company
Sellers(s) Kohlberg & Company
Maranon Capital
CIVC Partners
Deal Type Secondary Buyout
Advisor(s) Harris Williams
Houlihan Lokey
KeyBanc Capital Markets (Financial)
Ropes & Gray (Legal)

Target

GPRS

Maumee, Ohio, United States
GPRS is a provider of private utility locating and concrete scanning services to utilities, contractors, engineering firms, and environmental consultants in every major market in the United States. GPRS was founded in 2001 and is based in Maumee, Ohio.

Search 205,905 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 2

Buyer

Roark Capital Group

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 33.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Roark Capital Group is a private equity firm that focuses on middle-market investment opportunities. The Firm targets family-owned business transfers, management/corporate buyouts, recapitalizations, going-private transactions, and corporate divestitures. Roark Capital Group pursues companies with revenues between $20 million and $5 billion, and EBITDA of $10 to $500 million. Roark Capital primarily invests in consumer and business services companies, with a particular interest in the franchise, food and restaurant, specialty retail, direct marketing and financial services sectors. Roark Capital Group was formed in 2001 and is headquartered in Atlanta, Georgia.


DEAL STATS #
Overall 45 of 45
Sector (Technology Hardware) 1 of 1
Type (Secondary Buyout) 21 of 21
State (Ohio) 1 of 1
Country (United States) 43 of 43
Year (2025) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-24 Subway

Milford, Connecticut, United States

Subway is a global restaurant chain focused on serving freshly made-to-order sandwiches, wraps, salads and bowls to guests across more than 100 countries in nearly 37,000 restaurants. Subway restaurants are owned and operated by Subway franchisees – a network that includes thousands of entrepreneurs and small business owners. Subway was founded in 1965 and is based in Milford, Connecticut.

Buy -
Buyer

Kohlberg & Company

Mount Kisco, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kohlberg & Company is a private equity firm which acquires middle-market companies with consistent cash flow, and underperforming companies with operational deficiencies. Kohlberg looks to commit $100 to $500 million of equity capital in opportunities valued from $200 million to $2 billion. Kohlberg generally looks for opportunities in the manufacturing and service sectors, however the Firm will also selectively consider businesses in food and healthcare. Kohlberg tends not to consider technology or communications companies. Kohlberg & Company was formed in 1987 and has offices in Mt. Kisco, New York.


DEAL STATS #
Overall 81 of 81
Sector (Technology Hardware) 3 of 3
Type (Secondary Buyout) 35 of 35
State (Ohio) 6 of 6
Country (United States) 80 of 80
Year (2025) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-03 CLEAResult

Austin, Texas, United States

CLEAResult provides energy efficiency, transition, and sustainability services. The company collaborates with a diverse network of local partners to deliver technology and personalized services, making it easy for commercial and industrial businesses, governments, utilities, and residential customers to reduce their energy use and greenhouse gas emissions. CLEAResult was founded in 2003 and is based in Austin, Texas.

Buy -

Seller(S) 3

SELLER

Kohlberg & Company

Mount Kisco, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kohlberg & Company is a private equity firm which acquires middle-market companies with consistent cash flow, and underperforming companies with operational deficiencies. Kohlberg looks to commit $100 to $500 million of equity capital in opportunities valued from $200 million to $2 billion. Kohlberg generally looks for opportunities in the manufacturing and service sectors, however the Firm will also selectively consider businesses in food and healthcare. Kohlberg tends not to consider technology or communications companies. Kohlberg & Company was formed in 1987 and has offices in Mt. Kisco, New York.


DEAL STATS #
Overall 48 of 48
Sector (Technology Hardware) 2 of 2
Type (Secondary Buyout) 20 of 20
State (Ohio) 3 of 3
Country (United States) 47 of 47
Year (2025) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-03 CLEAResult

Austin, Texas, United States

CLEAResult provides energy efficiency, transition, and sustainability services. The company collaborates with a diverse network of local partners to deliver technology and personalized services, making it easy for commercial and industrial businesses, governments, utilities, and residential customers to reduce their energy use and greenhouse gas emissions. CLEAResult was founded in 2003 and is based in Austin, Texas.

Buy -
SELLER

Maranon Capital

Chicago, Illinois, United States

Category Mezzanine Finance Firm
Founded 2007
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Maranon Capital is an investment firm that provides senior financing, mezzanine debt and equity co-investments for private equity backed and non-sponsored middle-market companies. Maranon seeks investments in financially healthy businesses with stable cash flows, diverse customers, and strong management. Areas of interest include business services, healthcare services, distribution, manufacturing and consumer products/services. Funds typically support acquisitions, recapitalizations, refinancings, consolidations, ESOPs and growth capital needs. Maranon Capital was formed in 2007 and is based in Chicago, Illinois. In 2019, Maranon Capital was acquired by asset management firm Eldrige.


DEAL STATS #
Overall 22 of 22
Sector (Technology Hardware) 1 of 1
Type (Secondary Buyout) 15 of 15
State (Ohio) 3 of 3
Country (United States) 22 of 22
Year (2025) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-19 Tax Guard

Westminster, Colorado, United States

Tax Guard is a provider of data and services that help lenders accurately assess tax-related credit risk associated with potential borrowers. Tax Guard was founded in 2009 and is based in Westminster, Colorado.

Sell -
SELLER

CIVC Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1970
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

CIVC Partners is a private equity firm that provides buyout and growth capital to middle-market businesses located in the US and Canada. CIVC invests in companies generating sales of $40 - $300 million with an EBITDA of $5 to $25 million. Sectors of interest include Business Services, Information Services, Facility Services, Insurance Services, Transportation & Logistics, Tech-enabled Services, BPO, SaaS, Compliance Services, Corporate Training, IT Services, and Utility Services. The firm invests in the range of $20 - $100 million per transaction. CIVC prefers to be the lead equity sponsor and will consider both majority and minority investment situations. CIVC Partners was formed in 1970 and is based in Chicago, Illinois.


DEAL STATS #
Overall 49 of 49
Sector (Technology Hardware) 2 of 2
Type (Secondary Buyout) 20 of 20
State (Ohio) 3 of 3
Country (United States) 48 of 48
Year (2025) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-15 Highstreet IT Solutions

Rockville, Maryland, United States

Highstreet IT Solutions is a provider of cloud-oriented managed IT services and enterprise software implementation services. Through a complete service portfolio, Highstreet assists enterprise clients as they transition to Cloud-based IT infrastructure and applications and supports their Cloud-based technologies on an ongoing basis. Highstreet IT Solutions was founded in 1996 and is based in Rockville, Maryland.

Buy -