M&A Deal Summary

Sterling Investment Partners Acquires Kendall Vegetation Services

On April 26, 2022, private equity firm Sterling Investment Partners acquired business services company Kendall Vegetation Services from Blue Point Capital Partners

Acquisition Highlights
  • This is Sterling Investment Partners’ 6th transaction in the Business Services sector.
  • This is Sterling Investment Partners’ 28th transaction in the United States.
  • This is Sterling Investment Partners’ 3rd transaction in Georgia.

M&A Deal Summary
Date 2022-04-26
Target Kendall Vegetation Services
Sector Business Services
Buyer(s) Sterling Investment Partners
Sellers(s) Blue Point Capital Partners
Deal Type Secondary Buyout

Target

Kendall Vegetation Services

Lawrenceville, Georgia, United States
Kendall Vegetation Services provides professional vegetation management services, specializing in right-of-way maintenance, herbicide treatment, storm restoration and power line clearing, to utility customers on both transmission and distribution lines. Kendall Vegetation Services was founded in 1960 and is based in Lawrenceville, Georgia.

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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 28 of 31
Sector (Business Services) 6 of 6
Type (Secondary Buyout) 10 of 13
State (Georgia) 3 of 3
Country (United States) 28 of 31
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-02 American West Restaurant Group

Orange, California, United States

American West Restaurant Group is a Pizza Hut franchisee in California. American West Restaurant Group operates 221 Pizza Hut quick service restaurants ("QSRs") in greater Los Angeles across five contiguous counties: central Los Angeles, Riverside, San Bernardino, Ventura, and North Orange County. American West Restaurant Group is based in Orange, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-04 Mr Greens Produce

Miami, Florida, United States

Mr Greens Produce, dairy, and dry goods distributor serving a large variety of clients, including restaurants, hotels, country clubs, caterers, grocery stores, and retail outlets. Mr. Greens delivers 365 days a year, 7 days a week, and multiple runs per day to over 1,500 customers across Florida. Mr Greens Produce is based in Miami, Florida.

Buy -

Seller(S) 1

SELLER

Blue Point Capital Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1990
PE ASSETS 1.9B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Blue Point Capital Partners is a middle-market private equity firm focused on investments throughout the US, Canada, and Europe. The Firm looks to commit $10 to $50 million of equity capital in companies generating sales of $30 to $300 million and EBITDA of at least $7 million. Blue Point looks for control investments that arise from management led buyouts, recapitalizaitons, and companies in need of growth capital. Sectors of interest include transportation components, metals processing, plastics, packaging, specialty distribution, environmental, building materials, industrial textiles, transportation/logistics, chemicals, industrial outsourcing, and engineered components. Blue Point will not invest in real estate, restaurants, retail, or companies operating in highly regulated industries. Blue Point Capital Partners was formed in 1990 and has offices in Cleveland, Ohio; Charlotte, North Carolina; and Seattle, Washington.

DEAL STATS #
Overall 33 of 36
Sector (Business Services) 4 of 4
Type (Secondary Buyout) 20 of 22
State (Georgia) 2 of 2
Country (United States) 31 of 33
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-03 Fire & Life Safety America

Richmond, Virginia, United States

Fire & Life Safety America is a provider of fire and life safety services to the commercial, industrial, institutional and multy-family markets. Fire & Life Safety America was founded in 1997 and is based in Richmond, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-31 Water Lilies

Bay Shore, New York, United States

Water Lilies is a manufacturer and distributor of frozen Asian-inspired cuisine primarily sold through supermarkets, club/mass stores, restaurants and ethnic markets. The Company’s signature products include egg rolls, spring rolls, potstickers, dumplings, bao buns and a variety of noodles in both plant-based and meat options, as well as better-for-you categories (natural, organic, gluten-free). Water Lilies was founded in 1995 and is based in Bay Shore, New York.

Buy -
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