Southfield Capital Completes Sale of Total Fleet Solutions

News provided by

Jul 19, 2012, 01:30 ET

GREENWICH, Conn., July 19, 2012 /PRNewswire/ -- Southfield Capital Advisors, a private investment firm focused on the lower middle-market, announced today that it completed the sale of Material Handling Services, LLC, d/b/a Total Fleet Solutions ("TFS"), to CI Capital Partners. Based in Holland, Ohio, Total Fleet Solutions is an industry leading provider of outsourced business services focused on procurement, maintenance and fleet management of material handling equipment such as forklifts, order pickers, pallet trucks and aerial lifts.

Founded in 2001, TFS is a provider of brand independent fleet management services, specializing in driving cost savings and efficiencies in forklift fleets and related material handling equipment assets for Fortune 1000 and other large manufacturing and distribution companies. By taking full responsibility for managing and tracking their customers' material handling equipment, TFS allows customers to focus on their core business while enjoying expert outsourced administration, improved productivity, ongoing and documented cost savings, and centralized fleet management supported by unprecedented data and reporting capabilities.

Southfield Capital acquired a majority stake in TFS from its founders in October 2005. Under Southfield's ownership, TFS built on its market leading position and meaningfully grew revenue and EBITDA. This growth was accomplished through several key operational improvements, including (i) increased focus on recurring revenue business model (ii) diversified product offering to augment traditional fleet management (iii) invested in IT infrastructure (iv) recruited additional senior management talent, and (v) institutionalized key business practices and processes.

BB&T Capital Markets acted as exclusive financial advisor to TFS. Finn Dixon & Herling LLP acted as legal advisor to TFS.

About Southfield Capital

Founded in 2005, Southfield Capital provides capital for majority recapitalizations and management-led buyouts of lower middle-market businesses. The firm makes control investments in North American companies generating $5-$15 million in EBITDA with proven business models, attractive growth and profitability trends and solid leadership. Headquartered in Greenwich, CT, Southfield Capital also has offices in Louisville, KY. For more information, please visit www.southfieldcapital.com.

SOURCE Southfield Capital Advisors