Southfield Capital Completes Sale of Total Fleet Solutions
Southfield Capital Advisors, a private investment firm focused on the lower middle market, announced that it completed the sale of Material Handling Services, (d/b/a Total Fleet Solutions), to CI Capital Partners. Based in Holland, OH, Total Fleet Solutions (TFS) provides outsourced business services focused on procurement, maintenance and fleet management of material handling equipment such as forklifts, order pickers, pallet trucks and aerial lifts.
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. Southfield said this growth was accomplished through several key operational improvements, including increased focus on recurring revenue business model; diversified product offering to augment traditional fleet management; invested in IT infrastructure; recruited additional senior management talent and institutionalized key business practices and processes.
BB&T Capital Markets acted as exclusive financial advisor to TFS. Finn Dixon & Herling acted as legal advisor to TFS.
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