Secondary Buyout • Business Services

TPG Acquires AmSpec

On October 11, 2023, private equity firm TPG acquired business services company AmSpec from Olympus Partners

Acquisition Context
  • This is TPG’s 14th transaction in the Business Services sector.
  • This is TPG’s 280th transaction in the United States.
  • This is TPG’s 5th transaction in New Jersey.

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M&A Deal Summary

Date October 11, 2023
Target AmSpec
Sector Business Services
Buyer(s) TPG
Sellers(s) Olympus Partners
Deal Type Secondary Buyout
Advisor(s) Goldman Sachs
Baird (Financial)
Morgan Lewis (Legal)

Target Company

AmSpec

Cranbury, New Jersey, United States
AmSpec is a provider of testing, inspection and certification services for petroleum traders and refiners. AmSpec provides independent and precise analysis and measurement of petroleum and petrochemical products across the US, Caribbean, Latin America, and globally. AmSpec was founded in 1986 and is based in Cranbury, New Jersey.
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Buyer Overview 1

Buyer

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 296.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


Deal Context for Buyer #
Overall 429 of 453
Sector: Business Services 14 of 14
Type: Secondary Buyout 69 of 76
State: New Jersey 5 of 5
Country: United States 280 of 299
Year: 2023 13 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-20 M8 Pharmaceuticals

Brewyn, Pennsylvania, United States

M8 Pharmaceuticals is a pharmaceutical company focused on licensing, marketing, and distributing therapeutics serving Brazil and Latin American markets. M8 Pharmaceuticals was founded in 2007 and is based in Berwyn, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-10 a&o hostel

Berlin, Germany

a&o hostel is the largest fully integrated, privately-owned budget hotel and hostel platform in Europe. a&o hostel was founded in 2000 and is based in Berlin, Germany.

Sell -

Seller Profile 1

SELLER

Olympus Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 8.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Olympus Partners is a private equity group focused on investing in growth companies with strong management, and positions in their respective markets. The Firm will consider both venture capital and private equity investments and looks to commit $75 to $500 million per transaction. The Firm focuses its investment activities within the business services, healthcare, financial services, consumer, restaurant, software/IT services, and logistics/transportation industries. Olympus Partners was formed in 1988 and is based in Stamford Connecticut.


Deal Context for Seller #
Overall 48 of 50
Sector: Business Services 10 of 10
Type: Secondary Buyout 12 of 14
State: New Jersey 2 of 2
Country: United States 45 of 47
Year: 2023 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-02 Foodware Group

Lodi, New Jersey, United States

Foodware Group is a manufacturer and supplier of front-of-the-house and back-of-the-house products to the food service industry with over 5,000 products across 25 categories. Foodware Group was formed in 1983 and is based in Lodi, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-29 Soliant Health

Peachtree Corners, Georgia, United States

Soliant Health is a provider of healthcare staffing solutions. The company also provides travel nurses, allied health clinicians and clinical development specialists for the life sciences market. Soliant Health was founded in 1991 and is based in Peachtree Corners, Georgia.

Sell $2.5B