M&A Deal Summary

Sterling Investment Partners Acquires Verdantas

On May 7, 2024, private equity firm Sterling Investment Partners acquired engineering company Verdantas from Pine Street Capital Partners, Tuckerman Capital and Round Table Capital Management

Acquisition Highlights
  • This is Sterling Investment Partners’ 1st transaction in the Engineering sector.
  • This is Sterling Investment Partners’ 30th transaction in the United States.
  • This is Sterling Investment Partners’ 3rd transaction in Ohio.

M&A Deal Summary
Date 2024-05-07
Target Verdantas
Sector Engineering
Buyer(s) Sterling Investment Partners
Sellers(s) Pine Street Capital Partners
Tuckerman Capital
Round Table Capital Management
Deal Type Secondary Buyout

Target

Verdantas

Dublin, Ohio, United States
Verdantas provides engineering, science, & planning consultants dedicated to making the world a better place for ourselves and future generations. Verdantas was founded in 2020 and is based in Dublin, Ohio.

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Buyer(S) 1

Buyer

Sterling Investment Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1991
PE ASSETS 2.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sterling Investment Partners is a private equity firm that seeks investments in middle-market businesses with strong market share and high growth potential. Sterling looks for companies generating revenues of $50 to $500 million and EBITDA of $15 to $50 million. Sectors of interest include outsourcing/business services, niche manufacturing & industrial, transportation & logistics, unique distribution, technology-related, energy services, and consumer products & services. Sterling Investment Partners dates back to 1991 and is based in Westport, Connecticut.

DEAL STATS #
Overall 30 of 31
Sector (Engineering) 1 of 1
Type (Secondary Buyout) 12 of 13
State (Ohio) 3 of 3
Country (United States) 30 of 31
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-14 HeartLand

Kansas City, Missouri, United States

HeartLand is a premier provider of commercial landscape and facilities services, currently operating in five markets across the Central United States. Services include full-service maintenance (mowing, pruning, fertilization and chemical, irrigation, bed maintenance, and annual flowers), landscape enhancements (property upgrades and renovations), and winter services (de-icing and snow removal). HeartLand is based in Kansas City, Missouri.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-12 Protect

Wichita, Kansas, United States

Protect provides non-destructive testing, safety, industrial hygiene, environmental and insurance services to over 200 customers across the U.S. PROtect’s services, the majority of which are federally mandated, help clients mitigate business risks and maintain compliance with regulations. Protect was established in 2007 and is based in Wichita, Kansas.

Buy -

Seller(S) 3

SELLER

Pine Street Capital Partners

Albany, New York, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2004
PE ASSETS 425M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Pine Street Capital Partners (PSCP) provides mezzanine capital to small and medium-sized private and public companies. PSCP will consider investments from $3 to $15 million in companies generating at least $10 million of sales. Target sectors include manufacturing, business services, consumer products, healthcare and media. PSCP prefers investments in the Northeast and Mid-Atlantic regions of the US, but will consider opportunities nationwide. Investment funds are typically used to support strategic acquisitions, growth, management and employee buyouts, and leveraged recapitalization. PSCP will not invest in the real estate, biotech and oil & gas industries. Pine Street Capital Partners was formed in 2004 and is based in Albany, New York.

DEAL STATS #
Overall 16 of 17
Sector (Engineering) 2 of 2
Type (Secondary Buyout) 5 of 6
State (Ohio) 2 of 2
Country (United States) 16 of 17
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-06 Dealer Solutions & Design

Duluth, Georgia, United States

Dealer Solutions & Design is a provider of the automotive fixed operation approach to design and outfitting fixed operations facilities with shop equipment for new and renovated automobile dealerships. DSD has now been involved in over 700 facility projects. Dealer Solutions & Design was founded in 2005 and is based in Duluth, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-10 Burnyzz

Ocala, Florida, United States

Burnyzz is a specialized automotive services business focused on the restoration/build, sale, and service of classic and iconic cars, as well as heavy-duty trucks and trailers. It offers fully custom restoration and modernization services, in which the Company takes the body of a classic car and outfits the vehicle with entirely new parts providing modernized comfort and capabilities. Burnyzz was founded in 2010 and is based in Ocala, Florida.

Buy -
SELLER

Tuckerman Capital

Hanover, New Hampshire, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
Size Small
Type Sector Focused
DESCRIPTION

Tuckerman Capital is a private investment firm that targets smaller manufacturing companies, with a special interest in businesses that manufacture highly-engineered, non-commodity products across a broad range of industries. Tuckerman will also consider investments in niche service and distribution businesses. Tuckerman relies on deal partners to help source potential transactions. Tuckerman Capital is based in Hanover, New Hampshire.

DEAL STATS #
Overall 14 of 14
Sector (Engineering) 1 of 1
Type (Secondary Buyout) 4 of 4
State (Ohio) 1 of 1
Country (United States) 14 of 14
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-13 TRS Global Services

Houston, Texas, United States

TRS Global Services provides repair services on a wide range of turbines in a variety of applications. It is specialized in providing component repair and manufacturing processes for industrial, aeroderivative and aircraft gas turbines. TRS Global Services is based in Houston, Texas.

Sell -
SELLER

Round Table Capital Management

Investor Investor

Category Growth Capital Firm
Founded 2017
Size Small
Type Sector Agnostic
DESCRIPTION

RTC Partners is a growth-focused private equity firm focused on lower-middle market companies. The Firm looks to invest between $1 to $15 million. Prospective transaction types include management buyouts and growth financings. Sectors of interest include business services, digital media, engineering, IT, internet software and services, marketing, and media. RTC Partners was formed in 2017 and is based in New York City.

DEAL STATS #
Overall 4 of 4
Sector (Engineering) 3 of 3
Type (Secondary Buyout) 2 of 2
State (Ohio) 1 of 1
Country (United States) 4 of 4
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-06 Comm

Framingham, Massachusetts, United States

Comm is a marketing agency that specializes in digital marketing strategy, demand generation, account-based marketing, and marketing technology solutions. The agency provides a range of in-demand marketing services, including branding, creative, media strategy and buying, digital, lead generation, web development, and social media to B2B, B2B2C, and B2C clients. It possesses experience in high-growth and high-value business categories such as cybersecurity, SaaS, health tech, financial services, manufacturing tech, and retail. Comm was formed in 1994 and is based in Framingham, Massachusetts.

Buy -
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