Investment Summary

Trive Capital and Crux Capital Invest In HTeaO

On January 10, 2023, private equity firms Trive Capital and Crux Capital invested in franchising company HTeaO

Investment Highlights
  • This is Trive Capital’s 1st and Crux Capital’s 1st transaction in the Franchising sector.
  • This is Trive Capital’s 44th and Crux Capital’s 3rd transaction in the United States.
  • This is Trive Capital’s 5th and Crux Capital’s 3rd transaction in Texas.

Investment Summary

Date 2023-01-10
Target HTeaO
Sector Franchising
Investor(s) Trive Capital
Crux Capital
Deal Type Stake Purchase

Target

HTeaO

Midland, Texas, United States
HTeaO is an iced tea franchisor with 68 locations in five states, and more than 425 franchise licenses . HTeaO serves ultra-premium tea, water, coffee, and related products to customers in-store and drive-thru. 24 handcrafted flavors of sweetened and unsweetened tea are sold at each location, created with a proprietary water filtration system and 100% natural ingredients. HTeaO was founded in 2009 and is based in Midland, Texas.

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Investor(S) 2

Investor

Trive Capital

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2012
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Trive Capital is a hands-on, operationally-focused private equity firm that targets complex or special situations in 'out of favor' but protected market niches. The Firm will consider businesses throughout North America offering differentiated products/services with leading/defensible industry positions. Trive looks to commit $10 to $300 million per investment in businesses generating revenues of $40 million to $1.5 billion. Sectors of interest include automotive, transportation, aerospace/defense, building products, construction, infrastructure, healthcare, manufacturing, industrial, chemicals, distribution, consumer goods, energy services, business services, and communications. Trive Capital was founded in 2012 and is based in Dallas, Texas.


DEAL STATS #
Overall 46 of 53
Sector (Franchising) 1 of 1
Type (Stake Purchase) 3 of 3
State (Texas) 5 of 6
Country (United States) 44 of 50
Year (2023) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-15 Cascade Services

Tampa, Florida, United States

Cascade Services is a premier residential tri-trade services platform. Cascade offers HVAC, plumbing, and electrical contractors with best-in-class residential service technicians across the Southern United States. Cascade Services was founded in 2022 and is based in Tampa, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-26 Kittyhawk

Garden Grove, California, United States

Kittyhawk is a provider of Hot Isostatic Pressing (“HIP”) services for a variety of industries including space, commercial aerospace, defense, and medical applications. HIP is an integral service that improves the strength and metallurgical properties of casted and additively manufactured parts. The company specializes in servicing parts for high-temperature, high-pressure, and high cost of failure applications such as rocket and jet engine componentry. Kittyhawk was formed in 1981 and is based in Garden Grove, California.

Buy -
DESCRIPTION

Crux Capital is a private equity firm focused on investments in the consumer and business services sectors. Crux Capital considers majority or significant minority positions in companies with EBITDA between $1 and $15 million and revenue between $5 and $100 million. The Firm generally invests in the lifestyle, health, retail, personal care, healthcare, IT services, and human capital subsectors. Crux Capital will consider a variety of investment situations including growth financings, buyouts, successions, and recapitalizations. Crux Capital was founded in 2019 and is headquartered in Dallas, Texas.


DEAL STATS #
Overall 3 of 4
Sector (Franchising) 1 of 1
Type (Stake Purchase) 1 of 1
State (Texas) 3 of 4
Country (United States) 3 of 4
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-02 Buff City Soap

Dallas, Texas, United States

Buff City Soap is a plant-based home and personal care brand franchise formed with a mission to create plant-based products free of harsh chemicals and detergents. Buff City Soap’s delightfully smelling and uniquely handmade soap, laundry, bath, and body products are disrupting the retail beauty and consumer goods categories. Buff City Soap was formed in 2013 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-01 Uncommon Brands

Dallas, Texas, United States

Uncommon Brands is a holding company built to invest in and scale extraordinary brands in the restaurant industry. Uncommon Brands was founded in 2024 and is based in Dallas, Texas.

Buy -