Secondary Buyout • Distribution

TruArc Partners Acquires Service Champ

On April 24, 2012, private equity firm TruArc Partners acquired distribution company Service Champ from Halifax Group and Salem Halifax Capital Partners

Acquisition Context
  • This is TruArc Partners’ 1st transaction in the Distribution sector.
  • This is TruArc Partners’ 11th transaction in the United States.
  • This is TruArc Partners’ 1st transaction in Pennsylvania.
Investment Fate
  • Service Champ was sold to a strategic buyer in 2017.

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M&A Deal Summary

Date April 24, 2012
Target Service Champ
Sector Distribution
Buyer(s) TruArc Partners
Sellers(s) Halifax Group
Salem Halifax Capital Partners
Deal Type Secondary Buyout
Advisor(s) BB&T Capital Markets (Financial)

Target Company

Service Champ

Chalfont, Pennsylvania, United States
Service Champ is an distributor of automotive aftermarket maintenance parts and accessories to oil change shops, distributing over 4,500 consumable products, including oil filters, air filters, wiper blades, and chemicals, to locations in the United States and Canada.
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Buyer Overview 1

Buyer

TruArc Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 3.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

TruArc Partners is a private equity firm that invests in small to mid-market companies throughout North America. The Firm seeks to invest $50 to $150 million in companies valued between $100 and $500 million. TruArc Partners will consider a variety of transaction types, including leveraged acquisitions, build-ups, recapitalizations, restructurings and growth equity commitments. TruArc Partners was formerly known as Snow Phipps Group. The Firm was established in 2005 and is based in New York, New York.


Deal Context for Buyer #
Overall 11 of 34
Sector: Distribution 1 of 4
Type: Secondary Buyout 4 of 17
State: Pennsylvania 1 of 1
Country: United States 11 of 33
Year: 2012 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-06 FiberVisions

Duluth, Georgia, United States

FiberVisions Corp. is a producer of polypropylene staple fiber for nonwoven fabrics and textile fibers used in consumer and industrial products.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-19 Boyd

Pleasanton, California, United States

Boyd is a designer, manufacturer, marketer, and distributor of extruded, die-cut, and molded flexible rubber and plastic components and sealing systems for industrial applications. The business has a history of design and manufacturing innovation related to sealing systems and applications. Boyd was founded in 1996 and is based in Pleasanton, California.

Buy -

Seller Profiles 2

SELLER

Halifax Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Halifax Group is a private equity firm focused on investing in established, profitable, and growing companies. The Firm prefers completing transactions in partnership with management and typically looks to invest $40 to $80 million per acquisition. Prospective companies generally have revenues of at least $20 million and EBITDA greater than $8 million. Sectors of interest include business services, healthcare services, infrastructure services, and 'wellness' products and services. Halifax prefers opportunities located in North America. The Halifax Group was formed in 1999 and is based in Washington, DC, with additional offices in Dallas, Texas and Raleigh, North Carolina.


Deal Context for Seller #
Overall 8 of 24
Sector: Distribution 2 of 2
Type: Secondary Buyout 5 of 14
State: Pennsylvania 1 of 1
Country: United States 6 of 20
Year: 2012 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-24 Polypipe Group

Doncaster, United Kingdom

Polypipe Group is a manufactures and sells pressure-rated high density polyethylene pipes. The company's products are used in natural gas distribution, oil and gas gathering, municipal water and waste water, industrial and mining, nuclear power, landfill, and irrigation markets. Polypipe Group was founded in 1980 and is based in Doncaster, the United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-31 Caring Brands International

Sunrise, Florida, United States

Caring Brands International is a provider of home healthcare services under three global brands: Interim Healthcare (United States), Bluebird Care (United Kingdom & Republic of Ireland) and Just Better Care (Australia). The franchisees offer patients a full continuum of care including skilled home nursing, assistance with daily living activities and end-of-life hospice care. Caring Brands International was founded in 1966 and is based in Sunrise, Florida.

Buy -
SELLER

Salem Halifax Capital Partners

Marietta, Georgia, United States

Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 105M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Salem Halifax Capital Partners is a mezzanine investment firm that targets investments in traditional manufacturing, distribution, and service businesses located in the Southeast US. Salem looks to commit $2 to $10 million of junior capital in companies with predictable cash-flows and sales of $10 to $75 million. Salem Halifax was originally formed in 1999 and was known as Venture Capital Solutions from 1999 to 2004. Salem has offices in Winston-Salem, North Carolina, and Atlanta, Georgia.


Deal Context for Seller #
Overall 5 of 10
Sector: Distribution 1 of 1
Type: Secondary Buyout 2 of 2
State: Pennsylvania 2 of 3
Country: United States 5 of 10
Year: 2012 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-02 Vital Smiles of Georgia

Norcross, Georgia, United States

Vital Smiles of Georgia is a dental practice management company that focuses on children’s oral health services by providing operative and preventative care. Vital Smiles of Georgia is based in Norcross, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-25 Salt Lake Brewing Co.

Salt Lake City, Utah, United States

Salt Lake Brewing Co. is a craft brewer operating under the Squatters and Wasatch brand names. The Company also owns high volume brew pubs and restaurants.

Buy -