M&A Deal Summary

Summit Park and Capitala Group Acquire United Air Temp

On January 26, 2021, private equity firm Summit Park and asset manager Capitala Group acquired consumer services company United Air Temp

Acquisition Highlights
  • This is Summit Park’s 1st and Capitala Group’s 2nd transaction in the Consumer Services sector.
  • This is Summit Park’s 17th and Capitala Group’s 85th transaction in the United States.
  • This is Summit Park’s 1st and Capitala Group’s 2nd transaction in Virginia.
Investment Fate
  • United Air Temp was sold to a consortium of financial buyers in 2024.

M&A Deal Summary

Date 2021-01-26
Target United Air Temp
Sector Consumer Services
Buyer(s) Summit Park
Capitala Group
Deal Type Recapitalization

Target

United Air Temp

Lorton, Virginia, United States
United Air Temp is a provider of residential heating, ventilation, and air conditioning (HVAC) services to residential homeowners. United Air Temp was founded in 1931 and is headquartered in Lorton, Virginia.

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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 18 of 25
Sector: Consumer Services M&A 1 of 1
Type: Recapitalization M&A Deals 11 of 18
State: Virginia M&A 1 of 1
Country: United States M&A 17 of 24
Year: 2021 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-01 Cars Protection Plus

Murrysville, Pennsylvania, United States

Cars Protection Plus, Inc. is a provider of vehicle service contracts (“VSCs”) to independent and franchise dealerships throughout the United States. Cars Protection Plus was founded in 1998 and is based in Murrysville, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-13 Fast Growing Trees

Fort Mill, South Carolina, United States

Fast Growing Trees is an operator of trees and shrubs and offers consumers a broad variety of high-quality trees and shrubs through its websites fast-growing-trees.com and brighterblooms.com. Fast Growing Trees was founded in 2006 and is based in Fort Mill, South Carolina.

Sell -
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 86 of 100
Sector: Consumer Services M&A 2 of 2
Type: Recapitalization M&A Deals 11 of 12
State: Virginia M&A 2 of 2
Country: United States M&A 85 of 99
Year: 2021 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-19 American Landscaping Partners

Brentwood, Tennessee, United States

American Landscaping Partners is a provider of landscaping services and offers lawn maintenance, lawn care, snow removal, plant healthcare, and tree services for residential and commercial customers. American Landscaping Partners is based in Brentwood, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-09 Proactive Dealer Solutions

Huntersville, North Carolina, United States

Proactive Dealer Solutions is a multi-faceted service provider for the auto dealership and more broadly the motorized vehicle sector focused on lead management and conversion. Proactive’s services assist auto dealerships with all aspects of their sales organization by providing a full suite of integrated solutions, including hiring/training talent, call monitoring services, performance tracking, and conversion. Proactive Dealer Solutions is based in Huntersville, North Carolina.

Buy -