M&A Deal Summary

Turnberry Solutions Acquires ThreeBridge Solutions

On January 1, 2021, Turnberry Solutions acquired information technology company ThreeBridge Solutions from RFE Investment Partners and Capitala Group

Acquisition Highlights
  • This is Turnberry Solutions’ 1st transaction in the Information Technology sector.
  • This is Turnberry Solutions’ 1st transaction in the United States.
  • This is Turnberry Solutions’ 1st transaction in Minnesota.

M&A Deal Summary

Date 2021-01-01
Target ThreeBridge Solutions
Sector Information Technology
Buyer(s) Turnberry Solutions
Sellers(s) RFE Investment Partners
Capitala Group
Deal Type Merger

Target

ThreeBridge Solutions

Minneapolis, Minnesota, United States
ThreeBridge Solutions is a provider of information technology and business consulting services. ThreeBridge is focused on serving the growing market opportunity between global strategic consulting firms and local staffing companies. ThreeBridge Solutions was founded in 2009 and is based in Minneapolis, Minnesota.

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Buyer(S) 1

Buyer

Turnberry Solutions

Malvern, Pennsylvania, United States

Category Company
Sector Information Technology
DESCRIPTION

Turnberry Solutions is an IT consulting and professional services firm with a proven track record delivering large-scale technology projects. As an Advanced Consulting Partner of Amazon Web Services, Premiere Partner of Splunk, and Microsoft Gold Certified Managed Partner, Turnberry’s team of consultants and technologists have designed, implemented and deployed some of the world’s most scalable business enablement platforms for enterprise and mid-market clients. Turnberry Solutions is based in Malvern, Pennsylvania.


DEAL STATS #
Overall 1 of 2
Sector (Information Technology) 1 of 1
Type (Merger) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 1 of 2
Year (2021) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-07 1904labs

St. Louis, Missouri, United States

1904labs is a cloud-based software and data solutions consulting firm. 1904labs was formed in 2016 and is headquartered in St. Louis, Missouri.

Buy -

Seller(S) 2

SELLER

RFE Investment Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1979
Size Large
Type Sector Agnostic
DESCRIPTION

RFE Investment Partners is a private equity firm focused on investing in lower middle-market service, manufacturing and healthcare service businesses. Prospective companies are generally profitable with annual cash-flow of at least $5 million. Target businesses also have proven management, defensible market positions, and 'a clearly identified and growing market'. RFE looks to commit $10 to $35 million of equity capital per transaction to support acquisitions, management led buyouts, and recapitalizations. RFE is licensed as a SBIC and was formed in 1979. RFE Investment Partners is based in New Canaan, Connecticut.


DEAL STATS #
Overall 12 of 14
Sector (Information Technology) 1 of 1
Type (Merger) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 12 of 14
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 Veransa Group

Sarasota, Florida, United States

Veransa Group is a provider of vertical integration of waste collection/recycling centers with organic products manufacturing facilities. Veransa Group is based in Sarasota, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-25 Congruity HR

Winston-Salem, North Carolina, United States

Congruity HR PEO delivers comprehensive HR solutions to small and mid-sized businesses nationwide, sharpening their competitive advantage. Comprised of respected industry executives and certified HR professionals, Congruity HR provides hands-on, expert human resource services to reduce administrative burdens, ensure compliance with employer regulations, and effectively manage employment cost. The company’s extensive HR service offering includes a full range of health and workers’ compensation insurance products, tax administration, risk management services, and advanced technology. Congruity HR was founded in 2011 and is based in Winston-Salem, North Carolina.

Buy -
SELLER

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 41 of 53
Sector (Information Technology) 4 of 5
Type (Merger) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 40 of 52
Year (2021) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-01 PEOPLEASE

Mount Pleasant, South Carolina, United States

PEOPLEASE is a full-service professional employer organization Small-to-medium-sized businesses, rapid-growth companies, and established enterprise operations alike benefit from PEOPLEASE ’s large employee base with customized yet cost-effective solutions for payroll, human resources, benefits, tax, and finance administration, safety, and risk management. PEOPLEASE was founded in 1994 and headquartered in Mount Pleasant, South Carolina.

Buy -
FOLLOWING 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 -