Investment Summary

TH Lee Putnam Ventures, Scorpion Capital Partners and Comvest Partners Exits Velocity Express

On February 4, 2013, TFI International invested in transportation company Velocity Express from TH Lee Putnam Ventures, Scorpion Capital Partners and Comvest Partners

Investment Highlights
  • This is TFI International’s 7th transaction in the Transportation sector.
  • This is TFI International’s 4th transaction in the United States.
  • This is TFI International’s 2nd transaction in Texas.

Investment Summary

Date 2013-02-04
Target Velocity Express
Sector Transportation
Investor(s) TFI International
Sellers(s) TH Lee Putnam Ventures
Scorpion Capital Partners
Comvest Partners
Deal Type Add-on Acquisition

Target

Velocity Express

Stafford, Texas, United States
Velocity Express Corp. is a provider of time critical supply chain solutions. Velocity and has one of the largest nationwide networks and provides a national footprint for customers desiring same day delivery and logistics services throughout the United States.

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Investor(S) 1

Investor

TFI International

Saint-Laurent, Quebec, Canada

Category Company
Founded 1957
Sector Transportation
Employees26,287
Revenue 8.4B USD (2024)
DESCRIPTION

TFI International is a North American leader in the transportation and logistics industry, operating across Canada and the United States through its subsidiaries. TransForce creates value for shareholders by identifying strategic acquisitions and managing a growing network of wholly-owned, operating subsidiaries. Under the TransForce umbrella, companies benefit from financial and operational resources to build their businesses and increase their efficiency. TFI International was incorporated in is based in Saint-Laurent, Quebec.


DEAL STATS #
Overall 9 of 35
Sector: Transportation M&A 7 of 30
Type: Add-on Acquisition M&A Deals 9 of 26
State: Texas M&A 2 of 4
Country: United States M&A 4 of 16
Year: 2013 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-11 I.E. Miller Services

Eunice, Louisiana, United States

I.E. Miller Services, Inc. is a North American provider of rig relocation services, including disassembly, transportation and reassembly of oil and gas drilling rigs. It also services a well-diversified base of leading oil and gas producers as well as drilling companies.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-17 E.L. Farmer & Co.

Houston, Texas, United States

E.L. Farmer is a provider of hauling services and pipe storage to the oil and gas industry. The Company operates 18 terminals and 5 pipe yards in Texas, New Mexico, Oklahoma, and Pennsylvania.

Buy -

Seller(S) 3

SELLER

TH Lee Putnam Ventures

New York, New York, United States

Category Growth Capital Firm
Founded 1999
PE ASSETS 1.1B USD
Size Large
Type Sector Focused
DESCRIPTION

TH Lee Putnam Ventures (THLPV) is a technology-focused private equity firm affiliated with Thomas H. Lee Partners and Putnam Investments. THLPV's primary focus is on later-stage venture investments, but the firm will also consider public entities, middle market buyouts, recapitalizations and spinouts of corporate divisions. A typical investment is between $20 and $50 million. TH Lee Putnam Ventures was formed in 1999 and is based in New York City.


DEAL STATS #
Overall 8 of 9
Sector: Transportation M&A 1 of 1
Type: Add-on Acquisition M&A Deals 5 of 6
State: Texas M&A 1 of 2
Country: United States M&A 7 of 8
Year: 2013 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-09 Symphony Services

Palo Alto, California, United States

Symphony Services helps clients achieve higher innovation yields, compress time to market and improve productivity to increase the value from their R&D investments. From strategic and operational consulting guidance to complete product lifecycle capabilities, our singular focus on product development means we are engineered for your success.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-25 Parago

Lewisville, Texas, United States

Parago provides a proprietary, promotional marketing technology platform that helps clients reduce promotional program costs, increase sales, and enhance customer relationships. The company?s products, PromoCenter, ValueRewards, and KnowledgeCenter, have all been developed collectively with the objective of leveraging Internet-based technology, processes and resources to make promotional marketing programs more efficient and effective resulting in an improved bottom line and happier customers for our clients.

Sell $290M
SELLER

Scorpion Capital Partners

New York, New York, United States

Category Private Equity Firm
Founded 1995
PE ASSETS 120M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Scorpion Capital Partners LP is a private equity firm that partners with management to invest in smaller middle-market companies. Scorpion looks to make equity or equity like investments of $5 to $10 million in businesses with $10 to $100 million of revenue and EBITDA of $4 to $25 million. The Firm will consider both control and minority investment to support growth capital needs, recapitlizations, divestitures, take privates, and family successions. Scorpion has no industry focus, however the Firm will not invest in real estate, gaming, tobacco, biotechnology, software development, as well as start-up and early stage ventures. Scorpion Capital Partners was originally established in 1995 and is based in New York City.


DEAL STATS #
Overall 4 of 8
Sector: Transportation M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 5
State: Texas M&A 1 of 2
Country: United States M&A 4 of 8
Year: 2013 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-06 Rivulet Communications

Herndon, Virginia, United States

Rivulet Communications offers a complete product suite that enables medical, government and carrier customers to flawlessly transport high bandwidth, mission critical and real-time applications over existing IP networks. With Rivulet products, organizations can realize the economic benefits of IP-based convergence without compromising application quality or network utilization. Rivulet supports applications, including IPTV, VoIP, video, ATM, and TDM (circuit emulation), in their native modes while guaranteeing a quality of service (QoS) equivalent to traditional TDM networks.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-13 Cheniere Energy

Houston, Texas, United States

Cheniere Energy is an energy company that primarily engages in the development, construction, ownership, and operation of onshore liquefied natural gas (LNG) receiving terminals and natural gas pipelines along the Gulf Coast of the United States. Cheniere Energy was founded in 1983 and is based in Houston, Texas.

Sell -
SELLER

Comvest Partners

West Palm Beach, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Comvest Partners' headquarters in West Palm Beach, Florida.
Comvest Partners' headquarters in West Palm Beach, Florida.

Comvest Partners is a private investment firm that provides equity and debt capital to middle-market companies across North America. Comvest funds a variety of investment situations, including buyouts, divestitures, recapitalizations, consolidations, take privates, and turnarounds. Sectors of interest include business services, information services, education, financial services, healthcare services, software, IT, and transportation. For equity investments, Comvest prefers control and looks to invest $50 to $150 million per transaction. For debt needs, Comvest seeks to provide $25 to $250 million per transaction. Comvest Partners was formed in 2000 and is based in West Palm Beach, Florida.


DEAL STATS #
Overall 12 of 42
Sector: Transportation M&A 1 of 3
Type: Add-on Acquisition M&A Deals 5 of 23
State: Texas M&A 3 of 5
Country: United States M&A 12 of 42
Year: 2013 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-11 Digital Domain

Venice, California, United States

Digital Domain is a visual effect and animation company that creates state-of-the-art digital imagery for feature films, television advertising, interactive visual media, and the video game industries. Digital Domain was established in 1993 and is based in Venice, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-01 Multiband

Minnetonka, Minnesota, United States

Multiband Corporation is a provider of software and integrated billing services including video, voice, data and other value-added local services to multiple dwelling units (MDU's).

Sell -