M&A Deal Summary

Turtle Infrastructure Partners and Valley Bank Acquire Cheyenne Associates

On August 30, 2019, Turtle Infrastructure Partners and Valley Bank acquired infrastructure company Cheyenne Associates

Acquisition Highlights
  • This is Turtle Infrastructure Partners’ 1st and Valley Bank’s 1st transaction in the Infrastructure sector.
  • This is Turtle Infrastructure Partners’ 1st and Valley Bank’s 10th transaction in the United States.
  • This is Turtle Infrastructure Partners’ 1st and Valley Bank’s 6th transaction in Florida.

M&A Deal Summary
Date 2019-08-30
Target Cheyenne Associates
Sector Infrastructure
Buyer(s) Turtle Infrastructure Partners
Valley Bank
Deal Type Add-on Acquisition

Target

Cheyenne Associates

Brooksville, Florida, United States
Cheyenne Associates, Inc. specializes in roadway maintenance, asphalt milling, asphalt paving, guardrail installation and repair, highway signage installs, and roadway construction. Cheyenne Associates was founded in 1996 and is based in Brooksville, Florida.

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Buyer(S) 2

Buyer

Turtle Infrastructure Partners

Largo, Florida, United States
Category Company
Founded 1974
Sector Construction
DESCRIPTION

Turtle Infrastructure Partners is a multi-generational firm and a provider of asphalt milling services for over 40 years. Turtle Southeast is a Provider of road maintenance services to paving contractors. Turtle Infrastructure Partners was founded in 1974 and is based in Largo, Florida.

DEAL STATS #
Overall 1 of 1
Sector (Infrastructure) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Florida) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
Buyer

Valley Bank

Morristown, New Jersey, United States
Category Company
Founded 1927
Sector Financial Services
Employees3,749
Revenue 1.9B USD (2023)
DESCRIPTION

Valley Bank is a regional bank holding company that operates 204 branches in 144 communities serving 16 counties throughout northern and central New Jersey, Manhattan, Brooklyn, Queens, and Long Island. Valley Bank was founded in 1927 and is based in Morristown, New Jersey.

DEAL STATS #
Overall 10 of 11
Sector (Infrastructure) 1 of 1
Type (Add-on Acquisition) 4 of 5
State (Florida) 6 of 6
Country (United States) 10 of 11
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-23 Oritani Financial

Washington Township, New Jersey, United States

Oritani Financial is a provider of financial services in the US through its retail and commercial banks. Oritani Financial was founded in 1911 and is based in Washington Township, New Jersey.

Buy $740M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-13 Dudley Ventures

Phoenix, Arizona, United States

Dudley Ventures and its affiliates have invested over $1.6 billion in tax credit investments and its investor base includes national, regional, and local financial institutions and a broad range of corporate America. The company provides advisory and structuring assistance for new markets tax credits, historic tax credits, investment tax credits, and low-Income housing tax credits. It has a staff of full-service professionals, including an investment management and advisory services team, a financial reporting and accounting department, and a full-time Compliance Department to handle all financing and asset management requirements. Dudley Ventures is based in Phoenix, Arizona.

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