M&A Deal Summary

Summit Park and Stellus Capital Management Acquire Exacta

On February 22, 2019, private equity firms Summit Park and Stellus Capital Management acquired engineering company Exacta

Acquisition Highlights
  • This is Summit Park’s 1st and Stellus Capital Management’s 1st transaction in the Engineering sector.
  • This is Summit Park’s 13th and Stellus Capital Management’s 10th transaction in the United States.
  • This is Summit Park’s 1st and Stellus Capital Management’s 1st transaction in Ohio.

M&A Deal Summary

Date 2019-02-22
Target Exacta
Sector Engineering
Buyer(s) Summit Park
Stellus Capital Management
Deal Type Recapitalization
Advisor(s) EdgePoint Capital Advisors (Financial)

Target

Exacta

Cleveland, Ohio, United States
Exacta is a provider of land surveys and field management services used to facilitate the purchasing, selling, and development of the residential and commercial real estate. Exacta was founded in 2003 and is based in Cleveland, Ohio.

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Buyer(S) 2

Buyer

Summit Park

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 245M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Summit Park Partners is a private investment firm that acquires lower middle-market companies. Summit Park looks for profitable, established businesses in consumer services, business services, value-added distribution, and light manufacturing. The Firm targets businesses with revenues of $20 to $150 million and EBITDA between $4 and $15 million. Prospective transaction types include recapitalizations, management buyouts, family successions, corporate divestitures, and industry consolidations. Summit's geographic preference is within the Southeast and Mid-Atlantic US. Summit Park was formed in 2005 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 14 of 25
Sector: Engineering M&A 1 of 1
Type: Recapitalization M&A Deals 9 of 18
State: Ohio M&A 1 of 1
Country: United States M&A 13 of 24
Year: 2019 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-08 Freedom Electronics

Kennesaw, Georgia, United States

Freedom Electronics remanufactures and sells a portfolio of over 2,300 electronic components used in fuel dispensers, retail point-of-sale systems, and automatic tank gauges. Freedom Electronics also provides a logistics and warehousing solution for customers’ electronic components inventory that minimizes downtime and ensures customers always have parts in stock. Freedom Electronics was founded in 1998 and is based in Kennesaw, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-20 Aspirent

Atlanta, Georgia, United States

Aspirent provides strategic consulting, cloud development, and project execution services related to data and analytics for blue-chip clients in the Atlanta market. Aspirent was founded in 2012 and is based in Atlanta, Georgia.

Buy -
Buyer

Stellus Capital Management

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 3.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stellus Capital Management is a provider of debt and equity capital to middle-market companies headquartered throughout the US and Canada. For credit commitments, Stellus looks to provide $10 to $50 million of capital to help support buyouts, acquisitions, recapitalization, growth opportunities, rescue financing, distressed situations, as well as bridge loans. Sectors' of interest for Stellus' credit practice includes business services, energy, general industrial, government, healthcare, software and specialty finance. Stellus' equity practice seeks to provide $20 to $100 million to small and mid-sized energy (upstream, oilfield services, midstream) companies. Stellus Capital was originally formed in 2004 as Laminar Direct Capital and operated as the direct investing unit of D.E. Shaw. The Group became independent in 2012. Stellus has offices in Houston, New York City, and Washington DC.


DEAL STATS #
Overall 10 of 86
Sector: Engineering M&A 1 of 1
Type: Recapitalization M&A Deals 2 of 10
State: Ohio M&A 1 of 1
Country: United States M&A 10 of 83
Year: 2019 M&A 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-14 Fleetgistics

Orlando, Florida, United States

Fleetgistics, Inc. is a provider of outsourced same-day, dedicated route logistics services to customers predominantly located on the east coast of the United States. Fleetgistics was formed in 1987 and is based in Orlando, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-12 Munch s Supply

Hillside, Illinois, United States

Munch's Supply is an HVAC distributor and third-generation family business focused exclusively on supplying heating and cooling industry contractors with quality products. Munch's Supply was founded in 1956 and is based in Hillside, Illinois.

Buy -