Recapitalization by Harvest Partners, LP

Technology & Services
Recapitalization by Harvest Partners, LP

Summary

Baird served as exclusive financial advisor to Material Handling Services, LLC on this transaction

About

Material Handling Services, LLC (“MHS”) recently announced that funds managed by Harvest Partners, LP (“Harvest”) have acquired the equity stake in MHS held by CI Capital Partners (“CI Capital”). CI Capital acquired its equity stake in MHS (doing business as Total Fleet Solutions) in 2012. Terms of the transaction were not disclosed.

MHS is the largest provider of brand-independent fleet and other asset management services to retail, manufacturing, distribution, healthcare and hospitality companies. MHS primarily delivers its services via two business units, Miner and Total Fleet Solutions. Miner provides outsourced facility services including equipment installation, repairs and asset management solutions to reduce customer costs and improve uptime. Total Fleet Solutions is a brand-independent provider of turnkey fleet management services for Fortune 1000 companies and large manufacturing & distribution companies throughout North America. MHS is headquartered in Perrysburg, Ohio.

CI Capital, a leading North American private equity investment firm with approximately $2.1 billion in assets under management, has been investing in middle-market companies since 1993. Since inception, CI Capital and its portfolio companies have made over 200 acquisitions representing approximately $8 billion in enterprise value. CI Capital's existing portfolio consists of companies that collectively generate annual revenue of over $3 billion and annual EBITDA of over $350 million and employ over 13,000 people. CI Capital is headquartered in New York, New York.

Founded in 1981, Harvest is a leading private equity investment firm that pursues management buyouts and recapitalizations of middle-market companies in North America. Harvest focuses on acquiring profitable companies in the business services, consumer, healthcare services, and industrial sectors. This strategy leverages Harvest Partners’ 35+ years of experience in financing organic and acquisition-oriented growth companies. Harvest is headquartered in New York, New York.
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Technology & Services
Recapitalization by Harvest Partners, LP
Date
March 2017
Company
Material Handling Services, LLC
Transaction
M&A
Sectors
Technology & Services
Target Location
North America
Acquiror Location
North America

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