Southfield Capital, a lower middle-market private equity firm, partnered with TFS, an 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 and former CEO Brent Parent and former chief operating officer Todd Roberts will also return to the company to further bolster the executive team.
“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,” Quimby said. “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.”
“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,” Andy Cook, partner at Southfield Capital, said. “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 provided legal counsel to Southfield Capital.
