M&A Deal Summary

Southpointe Ventures, Capitala Group and Source Capital Acquire Aerial Access Equipment

On June 18, 2004, private equity firm Southpointe Ventures, asset manager Capitala Group and private equity firm Source Capital acquired machinery company Aerial Access Equipment

Acquisition Highlights
  • This is Southpointe Ventures’ 1st, Capitala Group’s 1st and Source Capital’s 1st transaction in the Machinery sector.
  • This is Southpointe Ventures’ 1st, Capitala Group’s 4th and Source Capital’s 3rd transaction in the United States.
  • This is Southpointe Ventures’ 1st, Capitala Group’s 1st and Source Capital’s 1st transaction in Louisiana.
Investment Fate
  • Aerial Access Equipment was recapitalized in 2007.
  • Aerial Access Equipment was sold to a financial buyer in 2019.

M&A Deal Summary

Date 2004-06-18
Target Aerial Access Equipment
Sector Machinery
Buyer(s) Southpointe Ventures
Capitala Group
Source Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Aerial Access Equipment

Baton Rouge, Louisiana, United States
Aerial Access Equipment is a provider of heavy equipment rental, sales, and repair services focused on aerial work platforms, boom lifts, scissor lifts, and related lift equipment. Aerial Access Equipment was founded in 1998 and is based in Baton Rouge, Louisiana.

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Buyer(S) 3

Buyer

Southpointe Ventures

Atlanta, Georgia, United States

Investor


Category Private Equity Firm
Founded 2003
Size Small
Type Sector Agnostic
DESCRIPTION

Southpointe Ventures is a private equity group that targets smaller, established companies in the Southeast United States. Southpointe looks to invest in companies that allow for faster growth and higher return potential due to the company's lower overhead structure, market flexibility, and efficiency. The Firm focuses on companies with revenues of $5 to $50 million and EBITDA of $1 to $5 million. Southpointe will not invest in start-ups, turnarounds or real estate. Southpointe Ventures was founded in 2003 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 1 of 8
Sector: Machinery M&A 1 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 7
State: Louisiana M&A 1 of 1
Country: United States M&A 1 of 8
Year: 2004 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-13 Tucker Architectural Millworks

Lithonia, Georgia, United States

Tucker Millworks is a manufacturer of doors, windows and molding for the historic renovation, luxury residential and commercial construction markets.

Buy -
Buyer

Capitala Group

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1998
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Capitala Group is an asset manager that provides equity and mezzanine capital to mid-sized companies valued up to $250 million. Funds are generally used to support growth needs, add-on acquisitions, management/leveraged buyouts, and recapitalizations. Capitatala will invest across the US, but generally targets opportunities located in the Southeast. Industry preferences include building products, business services, consumer/reteail, general industrial, healthcare, and technology. Prospective companies typically have revenues greater than $10 million and EBITDA of at least $3 million. Capitala was formed in 1998 and is headquartered in Charlotte, North Carolina.


DEAL STATS #
Overall 5 of 100
Sector: Machinery M&A 1 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 3 of 42
State: Louisiana M&A 1 of 3
Country: United States M&A 4 of 99
Year: 2004 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-06-06 Bradman Lake Group

Beccles, United Kingdom

Bradman Lake Group, Inc. is a manufacturer of packaging machinery with operations in England and the United States.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-29 American Apparel

Los Angeles, California, United States

American Apparel, Inc. is a designer, manufacturer and distributor of basic casual apparel to screen printers, distributors and its own branded retail stores. American Apparel was founded in 1998 and is based in Los Angeles, California.

Buy -
Buyer

Source Capital

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Source Capital is a private equity firm that invests in mature, smaller companies in a variety of sectors. The Firm generally looks to support management-backed leveraged acquisitions, recapitalizations, growth financings, and various turnaround situations. Source Capital's broad industry focus includes business services, consumer, distribution/supply, healthcare, and light manufacturing. The Firm prefers control investments, but will selectively review minority situations. Target companies are typically profitable with at least $2 million in EBITDA. Source Capital will not invest in venture deals, high tech, or real estate. Source Capital was formed in 2002 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 3 of 42
Sector: Machinery M&A 1 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 21
State: Louisiana M&A 1 of 2
Country: United States M&A 3 of 42
Year: 2004 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-01 RACE Holdings

Erwin, Tennessee, United States

RACE Holdings, LLC is the second largest provider of low-level (class A waste) radioactive waste processing services in the United States. Based in Memphis, Tennessee, RACE provides services to the 103 U.S. based nuclear power generators as well as U.S. government decommissioning and decontamination projects. Studsvik acquired RACE in 2006.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-01 Pro Care Emergency Medical Service

Lawrenceville, Georgia, United States

Pro Care Emergency Medical Service provides scheduled and emergency ambulance transportation services throughout the metro Atlanta market and surrounding regions. Pro Care Emergency Medical Service has both exclusive and non-exclusive contracts with hospitals, hospice centers, municipalities, and assisted-living facilities to transport patients. Pro Care Emergency Medical Service is based in Lawrenceville, Georgia.

Buy -