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Consumer Services

Fort Point Acquires Stark Air and Lewisville Air Conditioning & Heating

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Fort Point Capital announced today that its portfolio company, Church Services, a provider of non-discretionary residential services, has acquired Stark Air and Lewisville Air Conditioning & Heating. Both companies provide HVAC maintenance, repair and replacement services to residential customers in the Dallas-Fort Worth metropolitan area.

Stark Air is based in Hurst, TX (www.starkair.com) and Lewisville Air Conditioning & Heating is based in Lewisville, TX (www.lewisvilleac.com).

“Stark and Lewisville’s customer-centric cultures are a great match for Church Services, and will allow us to expand Church’s geographic footprint and add new customers,” said Brooke Ablon, a Partner at Fort Point and the Chairman of the Board of Church Services. “The acquisitions are compelling and further solidify Church Services’ leadership position in the residential services market throughout Texas, while helping the company grow in accordance with our strategic plan. We are excited to move forward in support of the Church Services team.”

Church Services is a provider of diversified residential services focused on the markets of Houston, Dallas and Austin. The company offers residential maintenance, repair and replacement services to homeowners primarily within three segments of the residential services industry: (i) heating, ventilation, and air conditioning (HVAC) and electrical, (ii) plumbing and (iii) foundation repair. The company is headquartered in Houston, TX (www.churchservices.com).

Fort Point Capital invests from $5 to $25 million in service-oriented, lower middle market companies across a range of sectors, including business services, healthcare, consumer, and software and information. The firm is based in Houston, TX (www.fortpointcapital.com).

Skyview Exits TRM Copy Centers

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Skyview Capital announced today the sale of TRM Copy Centers and its subsidiary Solvport to Burroughs Payment Systems, a portfolio company of Marlin Equity Partners. TRM is a provider of self-service retail copy centers and Solvport is an ATM and Kiosk outsourced services provider.

TRM Copy Centers is a nationwide provider of self-service convenience photocopy services in the retail environment. The company operates more than 14,000 copy centers throughout the United States through grocery, convenience and drug store chains as well as thousands of independently owned businesses. TRM Copy Centers is based in Portland, OR (www.trmcopycenters.com).

Solvport provides outsourced, off-premise ATM & Kiosks services including technical support, field service, real-time monitoring, and project management to over 120,000 locations nationwide. Customers include participants in the ATM independent sales organization industry as well as companies serving the financial institutions market. The company is based in Portland, OR (www.solvport.com).

Burroughs Payment Systems is a provider of document and payment- processing image technology, cash-automation solutions and services to financial institutions and retailers. The company is based in Plymouth, MI (www.burroughs.com).

Skyview Capital is a private investment firm which specializes in the acquisition and management of “systems – critical” businesses in the areas of technology, telecommunications, business services, and niche manufacturing. The firm is located in Beverly Hills, CA (www.skyviewcapital.com).

“We are very pleased with the outcome of this transaction. As TRM was one of our earlier investments and with the execution of disciplined business strategies by a strong management team, it proved to be very successful. TRM and Burroughs present a highly complementary fit that will be of great benefit to both employees and customers alike. We wish the combined business further success in the future,” said Alex Soltani, Chairman and CEO of Skyview Capital.

Marlin Equity Partners invests in businesses across multiple industries that are in the process of undergoing varying degrees of operational, financial or market-driven change. The firm is based in is a Los Angeles, CA (www.marlinequity.com).

Marlin Equity Partners Acquires Openwave Messaging and Openwave Mobility

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Marlin Equity Partners announced today that it has acquired the Messaging and Mediation product businesses from Openwave Systems. Marlin has renamed the acquired businesses Openwave Messaging and Openwave Mobility and will operate each business as a standalone platform.

Openwave Messaging provides core e-mail and voicemail software services to telecommunications service providers, mobile operators and cable operators. The company is based in Redwood City, (www.openwave.com/openwavemessaging).

Openwave Mobility provides software services to mobile carriers that address the rising costs of consumer data usage by enhancing the profitability and efficiency of IP traffic over 3G/4G mobile networks. The company is based in Redwood City, CA (www.openwave.com/openwavemobility).

Marlin Equity Partners invests in businesses across multiple industries that are in the process of undergoing varying degrees of operational, financial or market-driven change. The firm is based in is a Los Angeles, CA (www.marlinequity.com).

Comvest Group Invests in Primo Water

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The Comvest Group, through its debt fund, Comvest Capital II L.P., has provided a $15.1 million term loan to Primo Water Corporation, a national provider of water dispensers, bulk bottled water and sparkling beverage appliances. “These new financing arrangements provide Primo with flexibility to execute our growth plans across our product lines,” said Primo CFO Mark Castaneda. “Comvest has been a responsive and flexible partner and we are appreciative of their efforts to meet our capital needs.”

Primo Water Corporation (NASDAQ: PRMW) is a provider of three- and five-gallon purified bottled water, self-serve filtered drinking water, water dispensers and carbonating beverage appliances sold through major retailers in the United States and Canada. Primo was founded in 2004 and is headquartered in Winston-Salem, NC (
). “The management team at Primo has a great track record in founding and growing Blue Rhino Corporation,” said Managing Director Greg Reynolds of Comvest Capital. “We believe this experience ideally positions Primo for continued growth as it becomes the leading provider of water solutions to retailers.”

The Comvest Group provides debt and equity to middle-market companies. For debt investments the firm will invest from $2 million to $20 million per transaction in companies with $10 million to $200 million of revenue that have positive or negative EBITDA. For equity investments the firm will invest from $10 million to $50 million per transaction in companies with $15 million to $500 million of revenue that have positive or negative EBITDA. Since 2000 Comvest has invested more than $1.5 billion of capital in over 105 public and private companies worldwide. The firm is based in West Palm Beach, FL (www.comvest.com).

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