– Tecum Capital Partners (“Tecum”) is excited to announce its new investment in an undisclosed government contracting company. Tecum and Everside Capital Partners (“Everside”) provided subordinated debt and equity to support Broadtree Partners’ (“Broadtree”) (collectively, the “Investor Group”) acquisition of the Company. The Investor Group partnered with the sellers and existing management team, who will remain with the Company and retain a significant stake in the business.
The sellers partnered with the Investor Group to guide the Company through its next stage of growth. “We are excited to bring in partners whose culture and values align with what we have built over the years. We are eager to capitalize on our many growth opportunities while continuing to deliver innovative and high-quality services,” said the sellers.
Brad Batten, Managing Partner at Broadtree, commented on the transaction, “We are excited to partner with Tecum, Everside, and the sellers on the investment in the Company. Over its long history, the Company has established a reputation as a market leader offering reliable, high-quality, cost-effective, and differentiated services. We look forward to continuing this legacy while also leveraging Broadtree’s best-in-class operational resources to further accelerate the growth of the business.”
Stephen Gurgovits, Jr., Managing Partner of Tecum, stated, “We’re very pleased with the partnership on this deal given Broadtree and Everside’s respective experiences and track records. There is strong cultural alignment across Tecum, Broadtree, Everside, and the sellers as we collectively work to position the Company for growth.” Tyson Smith, a Partner of Tecum, added, “We believe we have the right team in place to catch the industry tailwinds and take the Company to the next level.”
Moritz Poehl, Founder and Managing Partner of Everside, summarized nicely, “The enthusiasm the Investor Group shares for the Company is top-notch. We have some excellent business characteristics that make us comfortable about its performance through the global pandemic, tangible growth prospects for the future, and a team that can add value.”
The Deal Team from Tecum consisted of Tyson Smith, Jack Surma, and Dan Drew. The Deal Team from Everside consisted of Moritz Poehl and Francesco Sala. The Deal Team from Broadtree Partners consisted of Brad Batten and Colin Murphy. Joe Jordan of Actuparo advised the Broadtree Partners team on the transaction as well.
Financial terms of the transaction were not disclosed.
ABOUT TECUM CAPITAL PARTNERS
Tecum Capital Partners is an independent investment firm based in Pittsburgh, Pennsylvania with over $750 million in assets under management. Tecum is a multi-strategy investor and is currently investing out of its second SBIC Fund. The investment team partners with independent sponsors, family offices, business owners seeking succession plans, and management teams to create shared success. Since 2006, Tecum’s investment professionals have invested in over 85 platform and add-on acquisitions. Tecum specializes in growth-oriented, middle-market companies across the broader high-value manufacturing, value-added distribution, and business service sectors, with a focus on businesses with EBITDA greater than $3 million. Tecum seeks to invest $5 million to $20 million in potential portfolio companies. For more information, please visit www.tecum.com
ABOUT BROADTREE PARTNERS
Broadtree Partners, headquartered in Charlotte, North Carolina, is a lower-middle market PE firm with an operator-centric model. Broadtree’s unique executive-in-residence approach allows owners to either smoothly exit their companies and seamlessly change leadership while preserving their legacy; or to bring operational and financial resources to a founder-led team to further accelerate growth. Broadtree’s team of operators and entrepreneurs work very closely with owners throughout the transaction process and transition to running the day-to-day operations after an acquisition. Broadtree seeks to partner with business owners and entrepreneurs to provide operational resources and institutional capital to transform and grow founder-owned businesses in the lower middle market. Broadtree’s goal is to fuel stable, long-term growth while preserving the company’s core values. For more information, please visit www.broadtreepartners.com
ABOUT EVERSIDE CAPITAL PARTNERS
Everside, an SEC Registered Investment Adviser, is a New York-based asset management firm focused exclusively on the lower middle market. The firm is led by a team with extensive backgrounds in credit, direct investing, and origination from top global institutions. Everside focuses exclusively on partnering with Small Business Investment Companies (SBICs), primarily by providing partnership capital (“Primaries”), the purchase of secondary investments (“Secondaries”), as well as by participating in select credit co-investments (“Directs”). Everside offers a collaborative solution based on transparency and trust to create long-term partnerships with businesses. For more information, please visit www.everside.com
Actuparo LLC is a premier strategic advisory firm focused on assisting financial sponsors and individual companies in navigating the Federal marketplace and maximizing opportunities for growth and success. The firm assists PE/VC due diligence efforts, advises a diverse set of small businesses looking to find federal revenue opportunities, and consults for large organizations that want to find and develop small business partners and Federal customers. Actuparo also connects Federal Government agencies with the most innovative and high-quality tools and solutions, working with all sides of the Acquisition system to improve effectiveness and efficiency.