Southfield Capital Partners with TFS

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Jul 22, 2024, 10:00 ET

GREENWICH, Conn., July 22, 2024 /PRNewswire/ -- Southfield Capital, a premier lower middle market private equity firm, announced today its partnership with TFS, Ltd. ("TFS" or the "Company"), a leading independent, nationwide provider of material handling fleet management services. TFS was acquired from OnPoint Group, a facility management provider servicing commercial docks and doors. The team led by President Michael Quimby will remain in their existing roles post-close while Founder & former CEO Brent Parent and former COO Todd Roberts will also return to the Company to further bolster the executive team.

Headquartered in Perrysburg, OH, TFS provides outsourced fleet management solutions for critical material handling assets such as forklifts and automated guided vehicles to customers nationwide. The Company provides brand-independent, comprehensive fleet management service throughout an asset's lifecycle including data driven offerings helping clients achieve yearly savings by optimizing fleet size, asset utilization and safety. TFS also originates financing and leasing solutions by connecting vendors, end-users and financial institutions through its subsidiary, OnPoint Capital. The Company services over 100 customers with over 35,000 total assets under management across over 2,100 sites nationwide.

"We are delighted to join forces with Southfield and confident that our collaboration will enable the Company to continue growing in our primary market while expanding to new service lines. With Southfield's backing we will be able to enhance our service capabilities and strengthen our technology platform. We have had a long-standing relationship with the Southfield team over the last twenty years and their vision for the future of TFS aligns well with what we intend to develop in the coming years," said Michael Quimby.

Andy Cook, Partner at Southfield Capital, commented, "Southfield's history and relationship with TFS provides us with a unique opportunity to re-invest in a team we have worked with before and have full belief in TFS's remarkable success is due to the team's deep sector expertise and relentless customer service. We look forward to supporting TFS as they continue to deliver excellent outcomes for customers while growing and expanding their service offering."

Comvest Credit Partners provided debt financing and Finn Dixon & Herling LLP provided legal counsel to Southfield Capital.

About Southfield Capital
Southfield Capital is a private equity firm that invests in high-growth, lower middle market companies in the outsourced business services sector. The firm targets companies with $4 - 15 million in EBITDA and partners with management to scale the business through a combination of organic and acquisition growth strategies.

For more information, please visit www.southfieldcapital.com.

Southfield Capital, LLC
140 Greenwich Avenue • Greenwich • Connecticut • 06830
Telephone: 203.813.4100
www.southfieldcapital.com

SOURCE Southfield Capital Advisors