Eureka Growth Capital today announced the sale of its investment in Total Military Management (“TMM”), a business process outsourcing company focused on the management of U.S. military and government household relocations, to TZP Capital Partners. “The Eureka team was a perfect fit for TMM,” said CEO Matt Connell. “Their business knowledge and experience aided us greatly and helped guide us through tremendous growth and industry challenges. Given the personal touch incorporated by Eureka, I could not imagine a better partnership or outcome.”
Total Military Management provides non-asset based logistics services used in the management of domestic and international U.S. military household relocations. TMM works with carriers, agents and other service providers to manage the complexities of procuring military moves, military base transportation procedures, and the systems put in place by the Department of Defense for authorization to conduct business with military base transportation offices. The company was founded in 2003 is headquartered in Jacksonville, FL (www.totalmm.com).
“With tremendous leadership from CEO Matt Connell and COO Kent Stermon, TMM grew rapidly during our partnership, executing a collaborative plan to increase penetration in specific geographic markets as well as expansion into entirely new markets,” said Chris Hanssens, Managing Partner of Eureka and former Chairman of TMM.
Eureka Growth Capital makes control and non-control investments in companies with $10 million to $75 million in revenue. Initial equity investments range from $4 million to $10 million, but larger investments can be made with co-investment from the firm’s limited partners. The firm prefers investment opportunities in the Mid-Atlantic and Eastern US. The firm was founded in 1999 and is based in Philadelphia, PA (www.eurekagrowth.com).
TZP Capital Partners makes control investments of between $20 million and $50 million in companies with enterprise values up to $200 million. Sectors of particular interest include real estate and relocation services, franchising, outsourced business and IT services, travel content and distribution, marketing and media services, and specialty finance. The firm is based in New York, NY (www.tzpgroup.com).
Edgeview Partners served as the exclusive financial advisor to Eureka and TMM.
