Industrials & Services

MidCap served as the exclusive financial advisor to Pumping Solutions Inc. in its acquisition by Hidden Harbor Capital Partners. Pumping Solutions brings a strong management team and a long-standing reputation as a trusted leader in pump service and repair across the New Jersey and New York markets. The transaction strengthens TRG – a Hidden Harbor portfolio company – by expanding its regional presence while providing Pumping Solutions the scale to expand its capabilities.

MidCap Advisors served as the exclusive financial advisor to Building Infrastructure Group, Inc. (“BIG” or the “Company”), a leading provider of digital infrastructure solutions, in its sale to LINX, a portfolio company of Guardian Capital Partners. The Company delivers structured cabling, audio-visual, wireless, and security solutions across federal, commercial, and industrial sectors, with a strong presence in mission-critical environments. The acquisition expands LINX’s geographic footprint and enhances its capabilities in secure infrastructure projects.

Dallas-based Artemis Fine Arts Services (Artemis), a full-service logistics provider dedicated to the preservation and protection of fine art objects, museum artifacts and antiquities, has been acquired by Cadogan Tate, one of the largest international fine arts logistics providers. MidCap Advisors, LLC (MidCap) served as the exclusive financial advisor to Artemis in its acquisition by Cadogan Tate. Artemis is renowned for fine art stewardship. It serves more than 1,000 top-tier clients across the country and continues to grow as an industry leader. Artemis provides a range of services including packing, crating, transportation, installation, and storage for museums, galleries, collectors, and other members of the fine art community. Artemis utilizes custom-built trucks and skilled art handlers trained by museum professionals in their National Fine Art Shuttle Fleet to provide secure delivery to any destination in the Continental U.S. Founded in 1977, Cadogan Tate is one of the largest international fine arts logistics providers. Headquartered in London with locations in Paris, Cote D’Azur, Miami, New York City, San Franscisco Los Angeles and Chicago, Cadogan Tate is internationally recognized as a market leader. The firm is trusted by discerning institutions and private collectors. The Artemis acquisition enables Cadogan Tate to expand its delivery routes, warehousing space, fleet and team across the U.S. while benefiting from Artemis’s expertise in comprehensive transportation, crating, packing, and installation services.

MidCap Advisors is pleased to announce that our client, Columbia Container Services (“CCS”), has closed their merger agreement with Container Maintenance Corporation (“CMC”) and ITI Intermodal (“ITI”). Strategically located within the Port of New York and New Jersey and in the Port of Boston, CCS provides chassis and container maintenance & repair (M&R), inspection, and storage services at its off-terminal equipment depots. Through this deal, the companies will collectively provide a full range of dry and reefer equipment M&R, storage, drayage, and over-the-road services for intermodal freight in the Midwest, Gulf, Southeast and Northeast. All the founders, each of whom will own significant equity in the new company, are going forward with the business. The new company will be under the leadership of Vincent Marino, Joshua Cooley, and Bruce Fenimore.

MidCap Advisors is pleased to announce that Threshold Visitor Management Systems (“Threshold” or the “Company”) was acquired by Avery Products Corporation, a business unit of CCL Industries Inc. CCL is a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers. MidCap served as the exclusive financial advisor to Threshold. The Company, a privately owned supplier of visitor sign-in, tracking and identification badges using proprietary software, is based in Farmington, Connecticut.

Delaware Freeport, LLC (“Delaware Freeport”) has acquired The Icon Group, Inc. (“Icon”). Founded in 1980, Icon is a high-level logistics company focused on the unique requirements of storing, transporting, and installing fine arts and artifacts. Icon tailors customized solutions for managing pieces as small as an oil painting, to the installation of large scale works of art. Based in Chicago, IL, Icon operates in a 92,000 square-foot, concrete masonry storage facility and service center which was also part of the transaction.

MidCap Advisors is pleased to announce that School Photo Marketing (“SPM” or the “Company”) was acquired by Ennis Inc. (“Ennis”) (NYSE: EBF). The transaction became effective November 30, 2022 and MidCap Advisors was the exclusive financial advisor to SPM. Based in Morganville, NJ, SPM is a leading national provider of customized marketing and fulfillment materials, specialty personal mementos, yearbooks, and support services to the $3B school photography industry. The Company will continue to be led post-acquisition by its 2nd generation owner, Robert Klepner. The acquirer, Ennis, has been a manufacturer and supplier of print products since 1909. They completed their IPO on the New York Stock Exchange in 1969 and continue to provide advertising, business forms and supplies, commercial printing, eCommerce solutions, envelopes, labels, and packaging services to the U.S. market.

Contract Filling Inc. (“CFI”) was acquired by Arizona Natural Resources (“ANR”), a portfolio company of CORE Industrial Partners (“CORE”) in August 2022. CFI is a premier contract manufacturer of alcohol-based personal care products with extensive compounding, filling, and packaging capabilities.

MidCap Advisors is pleased to announce that Ned Stevens Gutter Cleaning of Long Island (“NSLI”) has been acquired by Ned Stevens Gutter Cleaning and General Contracting of New York LLC (“NSGC”), via its financial sponsor AVALT. MidCap Advisors was the exclusive financial advisor to NSLI.

StandardAero has acquired Miramar, Florida-based PTS Aviation (“PTS”). The transaction became effective December 31, 2021. PTS Aviation is a worldwide supplier of serviceable aircraft engines, engine components, and engine inventory. Founded in 1995, PTS has more than 150-years of combined aviation management experience and significant expertise in buying, leasing, and selling engines, modules, and used serviceable material (USM). The acquisition of PTS Aviation will allow StandardAero to expand its portfolio of services and increase its capabilities to buy, sell, and embody USM into the CFM56-7B engine platform.

MKD Electric, LLC (MKD), a portfolio company of Hastings Equity Partners, LLC (Hastings), invested in XSTele.com, LLC (XS Telecom). Based in Warrenton, VA and founded in 2014, XS Telecom is a national provider of essential communications infrastructure, providing voice and data network cable design, installation, and support solutions for large national data center companies and Fortune 500 clients. A combination of MKD and XS Telecom will create a scaled national provider servicing rapidly growing, attractive end markets, including data centers. This is the third investment MKD has completed since Hastings, a private equity firm focused on investing in lower middle market businesses, acquired MKD in January 2021.

Third Wave Business Systems (“Third Wave”) was acquired by Evergreen Services Group (“Evergreen”) in August 2021. Third Wave is the country’s longest standing SAP Business One ERP Partners. As an SAP Gold Partner, Third Wave helps small and midsize businesses implement and customize SAP Business One in addition to a suite of proprietary software solutions including Versago and BizWeaver. In Third Wave, Evergreen sees the opportunity to enhance its capabilities in the rapidly growing managed applications market that is highly complementary to Evergreen’s portfolio of MSPs.

Pegasus Home Fashions (“Pegasus”) was acquired by H.I.G. Capital (“H.I.G.”) in August 2021. Pegasus is one of the country’s largest and fastest growing manufacturers of pillows and wholesaler of ancillary bedding products. Pegasus has a broad portfolio of proprietary, licensed, and private label brands that are manufactured within several facilities throughout the United States. Partnering with H.I.G. will add to Pegasus’ resources and accelerate capitalizing on the company’s many growth opportunities.

TriSpan LLP (“TriSpan”) has acquired Melville, NY-based Prestige Employee Administrators, Inc. (“Prestige”) forging a strong partnership with the company’s founders and management team. The transaction became effective December 31st, 2020. Established in 1998, Prestige has established a proven track record in providing small and mid-size businesses (SMBs) a turnkey solution for managing all aspects of their human resources (HR) functions. This partnership will help take Prestige to its goal of becoming one of the nation’s leading PEO. TriSpan is a private equity firm that is committed to drive growth and performance by bringing deep operational and financial resources to bear in each of its investments. MidCap acted as advisor to Prestige in the transaction.

IES Holdings, Inc. has acquired all of the equity interests in Aerial Lighting & Electric, Inc., a Naugatuck, CT-based electrical contractor specializing in the design and installation of electrical systems for multi-family developments, with revenues of approximately $24 million in calendar year 2019. Aerial will become part of IES’s Residential segment and continue to operate under the Aerial name.

Carfoldio Ltd, designs and develops the world’s most compact, adjustable and portable child car safety products under the MiFold and HiFold brands. 

Enterprise holdings has acquired the business of Mint Cars On-Demand (Mint). Mint is a car-sharing company serving more than 8,000 members in New York City and Boston. Mint was founded in 2008 and grew to be one of the largest regional car-sharing companies with a network of more than 40 locations across Manhattan, Brooklyn, and Boston in just four years. MidCap served as advisor to Mint.