Calera Capital has sold its portfolio company United Site Services (USS) to Platinum Equity. Calera acquired USS in August 2014 from GSO Capital Partners (Blackstone) and Angelo, Gordon & Co.
USS is a provider of portable restrooms, VIP restroom and shower trailers, temporary fence, temporary power, and other related products to the construction, event, industrial and government markets. The company has 80 branch locations nationwide and provides its services to 85,000 customers annually. USS is led by CEO Ron Carapezzi and is headquartered in Westborough, MA (www.unitedsiteservices.com).
“We were very fortunate to have had the opportunity to work together with Ron Carapezzi and the rest of the USS management team to significantly grow and strengthen the company,” said Managing Directors Jim Farrell and Ethan Thurow in a released statement. “Through this partnership, we were able to drive both organic and acquired growth, while also implementing operational improvements in the business.” Under Calera’s ownership, USS was very acquisitive. The company completed 17 add-on acquisitions over the past 18 months and 22 since 2015.
Calera Capital invests from $35 million to $200 million in companies with enterprise values from $100 million to $750 million. Sectors of interest include business services and specialty industrials. Calera was founded in 1991 and has offices in San Francisco and Boston (www.caleracapital.com).
Platinum Equity, the buyer of USS, invests in a range of industries including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, and telecommunications. The firm has completed nearly 185 acquisitions since its founding in 1995. Platinum is based in Beverly Hills with additional offices in New York and London (www.platinumequity.com).
“We look forward to our partnership with the USS management team to drive continued growth and help maximize performance throughout the business,” said Platinum Equity Partner Louis Samson. “The company has proven to be a strong platform on which to build and it will benefit from the additional M&A and operational resources our team brings to bear.”
“We will continue pursuing opportunities to acquire portable sanitation and related services companies in key markets while leveraging Platinum’s operational expertise to improve our customer value proposition, enhance our operating effectiveness and increase our profitability,” said Mr. Carapezzi.
© 2017 Private Equity Professional | August 28, 2017
