Recapitalization • Business Services

Transition Capital Partners and Plexus Capital Acquire La-tex Pump and Transportation

On April 1, 2012, family office Transition Capital Partners and private equity firm Plexus Capital acquired business services company La-tex Pump and Transportation

Acquisition Context
  • This is Transition Capital Partners’ 3rd and Plexus Capital’s 8th transaction in the Business Services sector.
  • This is Transition Capital Partners’ 16th and Plexus Capital’s 43rd transaction in the United States.
  • This is Transition Capital Partners’ 1st and Plexus Capital’s 1st transaction in Iowa.

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M&A Deal Summary

Date April 1, 2012
Target La-tex Pump and Transportation
Sector Business Services
Buyer(s) Transition Capital Partners
Plexus Capital
Deal Type Recapitalization

Target Company

La-tex Pump and Transportation

Homer, Iowa, United States
LA-tex Pump & Transportation LLC is a provider of housing accommodation systems and equipment rental services to the oil and gas drilling industry. La-tex Pump and Transportation is based in Homer, Iowa.
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Buyers Overview 2

Buyer

Transition Capital Partners

Southlake, Texas, United States

Investor Investor Investor Investor


Category Family Office
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Transition Capital Partners is a private investment firm focused on leveraged recapitalizations of entrepreneurial service-based businesses. Transition generally looks for high-growth companies with $3 million to $20 million of EBITDA where the firm can help position the company for the next level of growth. Sectors of interest include healthcare services, non-asset based logistics, retail, alternative energy and services, security services, direct marketing, software, branded food/beverage, education, telecom, oil/gas services, and outsourcing. The Firm is affiliated with family office Patterson Thoma Investments. Transition Capital Partners was formed in 1993 and is based in Southlake, Texas.


Deal Context for Buyer #
Overall 16 of 29
Sector: Business Services 3 of 3
Type: Recapitalization 2 of 5
State: Iowa 1 of 1
Country: United States 16 of 29
Year: 2012 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-01 LT Energy Services

Houston, Texas, United States

LT Energy Services LLC provides high-quality surface rental equipment, as well as various other oilfield services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-01 Apollo Brands

Dallas, Texas, United States

Apollo Brands is an operator of consumer products company that offers its retail partners and consumers quality products at an unsurpassed value by leveraging its expertise in designing and sourcing innovative goods. Apollo Brands is based in Dallas, Texas.

Buy -
Buyer

Plexus Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 2.2B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Plexus Capital is a private equity firm that invests in buyouts, acquisitions, recapitalizations and growth financings in the form of junior and/or equity capital. Plexus focuses on lower middle-market businesses located in the Mid-Atlantic and Southeast areas of the US. The Firm looks for businesses companies in the business services, consumer services, manufacturing, value-added distribution, and healthcare sectors with up to $2 to $15 million of cash-flow. Plexus Capital was formed in 1995 and is based in Charlotte, North Carolina.


Deal Context for Buyer #
Overall 43 of 149
Sector: Business Services 8 of 24
Type: Recapitalization 12 of 29
State: Iowa 1 of 1
Country: United States 43 of 149
Year: 2012 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-01 Inspired Beauty Brands

New York City, New York, United States

Inspired Beauty Brands is a manufacturer of hair care products. Its products include lotions, serums, insulators, creams, shampoos, conditioners, hair sprays, placenta products, treatments, moisturizers, gels, mousse, and relaxer kits. Inspired Beauty Brands was founded in 1971 and is based in New York City, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-07 CGL Engineering

Columbia, South Carolina, United States

CGL Engineering LLC is a provider of an engineering and facilities management services for correctional sites.

Sell -