GREENWICH, Conn., July 22,
2024 /PRNewswire/ -- Southfield Capital, a premier
lower middle market private equity firm, announced today its
partnership with TFS, Ltd. ("TFS" or the "Company"), a leading
independent, nationwide provider of material handling fleet
management services. TFS was acquired from OnPoint Group, a
facility management provider servicing commercial docks and doors.
The team led by President Michael
Quimby will remain in their existing roles post-close while
Founder & former CEO Brent
Parent and former COO Todd
Roberts will also return to the Company to further bolster
the executive team.
Headquartered in Perrysburg,
OH, TFS provides outsourced fleet management solutions for
critical material handling assets such as forklifts and automated
guided vehicles to customers nationwide. The Company provides
brand-independent, comprehensive fleet management service
throughout an asset's lifecycle including data driven offerings
helping clients achieve yearly savings by optimizing fleet size,
asset utilization and safety. TFS also originates financing and
leasing solutions by connecting vendors, end-users and financial
institutions through its subsidiary, OnPoint Capital. The Company
services over 100 customers with over 35,000 total assets under
management across over 2,100 sites nationwide.
"We are delighted to join forces with Southfield and confident
that our collaboration will enable the Company to continue growing
in our primary market while expanding to new service lines. With
Southfield's backing we will be able to enhance our service
capabilities and strengthen our technology platform. We have had a
long-standing relationship with the Southfield team over the last
twenty years and their vision for the future of TFS aligns well
with what we intend to develop in the coming years," said
Michael Quimby.
Andy Cook, Partner at Southfield
Capital, commented, "Southfield's history and relationship with TFS
provides us with a unique opportunity to re-invest in a team we
have worked with before and have full belief in TFS's remarkable
success is due to the team's deep sector expertise and relentless
customer service. We look forward to supporting TFS as they
continue to deliver excellent outcomes for customers while growing
and expanding their service offering."
Comvest Credit Partners provided debt financing and Finn Dixon & Herling LLP provided legal
counsel to Southfield Capital.
About Southfield Capital
Southfield Capital is a private equity firm that invests in
high-growth, lower middle market companies in the outsourced
business services sector. The firm targets companies with
$4 - 15 million in EBITDA and
partners with management to scale the business through a
combination of organic and acquisition growth strategies.
For more information, please visit
www.southfieldcapital.com.
Southfield Capital, LLC
140 Greenwich Avenue • Greenwich •
Connecticut • 06830
Telephone: 203.813.4100
www.southfieldcapital.com
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SOURCE Southfield Capital Advisors