Tillery Capital has sold its portfolio company SCT Holdings, an auto products supplier, to the Global Environment Fund. Tillery Capital acquired SCT in October 2007.
SCT is a supplier of engine and transmission calibration products for the performance automotive aftermarket and light-duty fleets. SCT’s branded products are used by automotive enthusiasts seeking to increase a vehicle’s performance, and more recently, fleet operators who recognize fuel savings by using SCT’s fleet products. The company is based in Sanford, FL (www.sctflash.com).
Tillery Capital is an operationally-oriented private equity firm that invests in and builds lower middle-market companies in partnership with their management teams. The firm makes control equity investments in companies whose annual EBITDA is between $2 million and $10 million. Sectors of specific interest include: agriculture products and equipment; niche manufacturing businesses; commercial and industrial service companies; healthcare services; environmental services; and operationally complex businesses. Tillery Capital was founded in 2006 and has offices in Charlotte and Raleigh, NC and Indianapolis (www.tillerycapital.com).
Global Environment Fund (GEF) is a global alternative asset manager with approximately $1 billion in assets under management. The firm focuses on investments in the energy, environment, and natural resources sectors. GEF was founded in 1990 and is based in Chevy Chase, MD (www.globalenvironmentfund.com).
BB&T Capital Markets served as the exclusive financial advisor to SCT and Tillery Capital. BB&T Capital Markets provides capital and advisory services including research, sales and trading, equity and debt underwriting, M&A advisory and corporate banking. The group has specific expertise within eight distinct industry verticals: aerospace, defense & government services; automotive aftermarket; commercial & industrial; financial Services; food & agribusiness; logistics & transportation services; real estate; and retail & consumer. BB&T Capital Markets is headquartered in Richmond, VA; with offices in Boston, MA; and Reston, VA (www.bbtcapitalmarkets.com).
The group’s parent, BB&T, is one of the largest financial services holding companies in the US with $182.7 billion in assets and a market capitalization of $23.8 billion, as of June 30, 2013. BB&T is based in Winston-Salem, NC.
© 2013 PEPD • Private Equity’s Leading News Magazine • 9-26-13
