M&A Deal Summary

Searchlight Capital Partners Acquires IPS

On October 19, 2021, private equity firm Searchlight Capital Partners acquired business services company IPS from Odyssey Investment Partners

Acquisition Highlights
  • This is Searchlight Capital Partners’ 3rd transaction in the Business Services sector.
  • This is Searchlight Capital Partners’ 16th transaction in the United States.
  • This is Searchlight Capital Partners’ 1st transaction in South Carolina.

M&A Deal Summary

Date 2021-10-19
Target IPS
Sector Business Services
Buyer(s) Searchlight Capital Partners
Sellers(s) Odyssey Investment Partners
Deal Type Secondary Buyout

Target

IPS

Greenville, South Carolina, United States
IPS' corporate headquarters in Greenville, South Carolina.
IPS' corporate headquarters in Greenville, South Carolina.
IPS is a provider of maintenance, repair, and replacement solutions for critical process equipment serving industrial and renewable energy end markets in North America. IPS was founded in 2007 and is headquartered in Greenville, South Carolina.

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Buyer(S) 1

Buyer

Searchlight Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2010
PE ASSETS 860M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Searchlight Capital Partners is a private investment firm founded in 2010. The Firm will invest across the capital structure, including equity and debt and will consider a variety of transaction situations, from simple to complex. Areas of focus include communications, media, information, IT services, business services, financial services, consumer services, consumer products, education, and industrial goods/services. The Firm will consider opportunities across North America and Europe. Searchlight Capital has offices in New York, London, and Toronto.


DEAL STATS #
Overall 31 of 39
Sector (Business Services) 3 of 4
Type (Secondary Buyout) 7 of 7
State (South Carolina) 1 of 1
Country (United States) 16 of 21
Year (2021) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-20 Adams Outdoor

Lansing, Michigan, United States

Adams Outdoor is an outdoor and location-based advertising firm, whose goal is to form marketing partnerships with advertisers providing them with the best media strategies. Adams Outdoor was formed in 1983 and is headquartered in Lansing, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-25 Euclid Transactional

New York, New York, United States

Euclid Transactional is a managing general agent focused on transactional risk insurance solutions, including rep and warranty, tax indemnity, and contingent liability insurance products across North America and Europe. Euclid Transactional is based in New York City.

Buy -

Seller(S) 1

SELLER

Odyssey Investment Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 8.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Odyssey Investments is a private equity firm that seeks control/majority investments in middle-market companies. Odyssey looks to back existing management and make investments in the form of leveraged acquisitions, growth financings and recapitalizations. Sectors of interest include industrial manufacturing, business and financial services, aerospace products and services, and 'route-based services'. Odyssey Investment Partners is based in New York City with an additional office in Woodland Hills, California.


DEAL STATS #
Overall 31 of 35
Sector (Business Services) 5 of 5
Type (Secondary Buyout) 17 of 20
State (South Carolina) 1 of 1
Country (United States) 30 of 34
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-17 Painters Supply

Taylor, Michigan, United States

Painters Supply is a distributor of automotive, industrial, and architectural coatings in the United States. PSE serves more than 4,000 customers, including collision repair shops, auto dealerships, fleet operators, and various other commercial and industrial accounts. Painters Supply was established in 1952 and is based in Taylor, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-04 Addison Group

Chicago, Illinois, United States

Addison Group delivers the expertise and talent that companies need to achieve and sustain business growth, offering a full suite of consulting services and talent solution capabilities across multiple sectors, including information technology, finance and accounting, healthcare, human resources, administrative, and digital marketing. Addison Group was formed in 1999 and is based in Chicago, Illinois.

Sell -