TRP Capital Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, TRP Capital Partners has invested in 1 company.

TRP Capital Partners’ most common sectors for investment are transportation (32%) and automotive (19%). The Firm’s most common investment types include secondary buyout (38%) and buyout (lbo, mbo, mbi) (25%). In total, TRP Capital Partners has invested in 8 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 2004 when it acquired Autocam for $390M.

In the last 3 years, TRP Capital Partners has exited 3 companies. The Firm’s most common exit type is trade sale (37%). TRP Capital Partners’ largest (disclosed) exit occurred in 2018 when it sold 4Refuel Canada for $260M.

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M&A Summary

  • M&A Total Activity26
    • M&A Buy Activity16
    • M&A Sell Activity10
  • Total Sectors Invested 10
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 8

TRP Capital Partners

380 N Old Woodward Avenue, Suite 205,
Birmingham, Michigan 48009
United States
(248) 648-2101
www.trpfund.com
dave.mitchell@trpfund.com

TRP Capital Partners is a private investment firm focused on opportunities within the transportation industry. Specific areas of interest include auto dealerships, education/training, outsourced services, niche manufacturing, environmental, and distribution/logistics. The Firm prefers to control situations and targets companies valued from $25 to $250 million. TRP Capital Partners was formed in 1997 and is based in Birmingham, Michigan.


Investment Criteria

Sectors of Interest: Automotive, Business Services, Communications, Consumer Services, Distribution, Education, Energy Services and Equipment, Environmental, Insurance, Manufacturing, Marine, Metals/Mining, Retail, Software, Staffing, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, Secondary Buyout

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value 25 250
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (0.4/yr) # 14 1 - 1 - - 16
vol $390M $390M
Sell (0.8/yr) # 7 1 1 1 - 1 11
vol $260M $260M
  27

Most Recent M&A

Company Date Value Type
Versant Supply Chain, Inc. 2019-08-27 - Add-on Acquisition
Memphis, Tennessee · www.versantsc.com
Flex Fleet Rental 2019-02-11 - Growth Capital
Salt Lake City, Utah · www.flexfleetrental.com
4Refuel Canada LP 2018-12-10 260M USD Add-on Acquisition
Langley, British Columbia · www.4refuel.com
CarLotz, Inc. 2017-09-19 - Growth Capital
Richmond, Virginia · www.carlotz.com
United Road Services, Inc. 2017-09-05 - Secondary Buyout
Romulus, Michigan · www.unitedroad.com
Quality Liaison Services 2016-01-01 - Buyout (LBO, MBO, MBI)
Hendersonville, Tennessee · www.qlsquality.com
Endurance Warranty Services LLC 2015-06-07 - Buyout (LBO, MBO, MBI)
Northbrook, Illinois · www.endurancewarranty.com
Smith System Driver Improvement Institute, Inc. 2014-06-09 - Secondary Buyout
Arlington, Texas · www.drivedifferent.com
SunTek Holding Co, Inc. 2014-03-13 - Add-on Acquisition
Martinsville, Virginia · www.suntekfilms.com
4Refuel Canada LP 2013-10-04 - Secondary Buyout
Langley, British Columbia · www.4refuel.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Transportation 1 (25%) - 5 (31%) -
Automotive 1 (25%) - 3 (19%) -
Metals/Mining - - 1 (6%) 390M (100%)
Business Services - - 1 (6%) -
Consumer Services - - 1 (6%) -
Distribution 1 (25%) - 1 (6%) -
Energy Services and Equipment - - 1 (6%) -
Insurance 1 (25%) - 1 (6%) -
Marine - - 1 (6%) -
Retail - - 1 (6%) -
Total 4 - 16 $390M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 4 (100%) - 15 (94%) 390M (100%)
  Tennessee 1 (25%) - 4 (25%) -
  Michigan - - 3 (19%) 390M (100%)
  Illinois 1 (25%) - 2 (13%) -
  Virginia - - 2 (13%) -
  Florida 1 (25%) - 1 (6%) -
  Utah 1 (25%) - 1 (6%) -
  California - - 1 (6%) -
  Texas - - 1 (6%) -
Canada - - 1 (6%) -
  British Columbia - - 1 (6%) -
Domestic 4 (100%) - 15 (94%) 390M (100%)
Cross-border - - 1 (6%) -
Total 4 - 16 $390M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout - - 6 (38%) 390M (100%)
Buyout (LBO, MBO, MBI) 3 (75%) - 4 (25%) -
Growth Capital 1 (25%) - 3 (19%) -
Recapitalization - - 2 (13%) -
Divestiture - - 1 (6%) -
Total 4 - 16 $390M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 3 (27%) 260M (100%)
Secondary Sale 3 (27%) -
Bankruptcy 1 (9%) -
IPO 1 (9%) -
SPAC 1 (9%) -
Trade Sale 1 (9%) -
Unknown 1 (9%) -
Total 11 $260M

Deal Values

buy # Total
$100M to $1B 1 $390M
TOTAL $390M
Largest Autocam Corp.
$390M (2004-05-03)
sell # Total
$100M to $1B 1 $260M
TOTAL $260M
Largest 4Refuel Canada LP
$260M (2018-12-10)

M&A Connections

Deals
Acquired from
Investor(s)
38%
6 (38%)
Strategic(s)
6%
1 (6%)
Exited to
Investor(s)
18%
2 (18%)
Strategic(s)
45%
5 (45%)

Investor Summary

Size

Middle-Market

PE Assets

500M USD

Established

1997

Specialist/Generalist

Generalist

Leadership

David Mitchell

Managing Director

James Hislop

Managing Director

Michael DiRienzo

Managing Director

Steven Carrel

Managing Director

Karen Hansen

CFO & CCO

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