Sverica Capital Management has sold its portfolio company MC Sign Company to Caltius Capital Management. Both Sverica and the MC Sign management team, which partnered with Sverica to acquire the company in May 2008, felt it was an opportune time to explore finding a new financial partner for the company.
MC Sign provides signage and lighting services to a variety of multi-site industries, including quick serve restaurant, retail, convenience stores, and hospitality. The company is based east of Cleveland in Mentor, OH (www.mcsign.com).
Sverica acquired a majority interest in MC Sign in May 2008. During the term of its ownership, Sverica guided the company through top line growth, identified and entered high growth adjacent service lines, and completed one add-on acquisition. Revenues over the term of ownership increased 65%.
“We are proud to have been partners with MC Sign and its talented management team,” said Dave Finley, Managing Director at Sverica. MC Sign has grown from a company focused on sign installation and maintenance, to a diversified facilities maintenance organization serving a number of trades including lighting and electrical.
Sverica invests in service oriented businesses and light industrial manufacturers. The firm targets companies with enterprise values under $100 million and EBITDAs greater than $3 million. Sverica was founded in 1993 and has raised over $500 million of investment capital across multiple funds. The firm has offices in Boston and San Francisco (www.sverica.com).
“Sverica has been a tremendous partner,” said Timothy Eippert, MC Sign’s Chief Executive Officer. “Their strategic guidance has been invaluable to our success. The company would not have achieved what it has without Sverica.”
Middle market investment bank TM Capital (www.tmcapital.com) was the financial advisor to MC Sign and Sverica on this transaction.
© 2015 PEPD • Private Equity’s Leading News Magazine • 9-25-15
