Atlantic Street Capital 2020 Recap Includes Four Platform Investments, 25 Portfolio Company Add-Ons, Hiring of COO, and Relocation to NYC
As it Enters its 15th Year, Atlantic Street to Continue Working with Entrepreneurs To Scale Lower Middle-Market Businesses
NEW YORK, Jan. 14, 2021 /PRNewswire/ -- Atlantic Street Capital, a private equity firm targeting entrepreneurial businesses poised for the next level of growth, takes the opportunity as it begins to celebrate the 15th year since its founding to provide a brief review of 2020 and a look ahead to 2021 activities.
During 2020, Atlantic Street invested significant capital from its Fund IV to complete four platform investments, including two previously unannounced transactions. 2020 Fund IV platform investments include:
- Zips Car Wash, the second largest branded express-only car wash in the United States. Based in Little Rock, Arkansas, Zips now manages over 200 locations across the United States with a strong track record of executing add-on acquisitions and de novo growth. Led by CEO Brett Overman, Zips offers an industry leading unlimited wash club for its members, which the Company expects to expand significantly in 2021. For more information, visit www.zipscarwash.com.
- Uniguest, the global leader in providing highly secure, fully managed customer-facing technology solutions on an outsourced basis to the hospitality industry, senior living communities, corporate offices, financial institutions, retail, education and stadiums. Atlantic Street first invested in Uniguest out of Fund II and Fund IV is now investing in the business to support the company's continued robust growth. For more information, visit www.uniguest.com.
- Tambourine, a tech-enabled provider of digital marketing solutions to the hospitality industry. As the leading provider of all-inclusive digital marketing solutions, Tambourine serves the global hospitality industry via its proprietary software. Based in Fort Lauderdale, Tambourine serves 400+ properties, including independent, hotel management groups, and branded hospitality clients. For more information, visit www.Tambourine.com.
- StratX IT/Compufit. Atlantic Street sponsored the combination of StratX IT Solutions and Compufit in December, 2020, both White Plains, NY based providers of outsourced IT services with a focus on providing IT support to healthcare organizations. Additional end markets include financial services, professional services, manufacturing, and real estate. For more information, visit www.stratxit.com and www.compufit.com.
Working closely with its portfolio company management teams, Atlantic Street supported 25 add-on acquisitions in Funds III and IV that will strengthen the platforms of United Veterinary Care (17), Zips Car Wash (4), Lab Logistics (2), Uniguest (1), and All Star Auto Lights (1)
Peter Shabecoff, Co-Chief Executive Officer of Atlantic Street, said, "The depth and diversity of our team enabled us to quickly evaluate opportunities, understand transactions, interact well with management, and complete several exciting transactions, as well as add-on acquisitions that will bolster our portfolio companies."
Andy Wilkins, Co-Chief Executive Officer of Atlantic Street Capital, added: "We have continued to make investments in attractive sectors where we have deep industry knowledge and experience. In 2020, these investments fit squarely into Atlantic's Street's mission of providing value-added, operationally intensive service to the portfolio. I am extremely proud of our team and the business owners that put their confidence in our firm this year."
Additionally, Whit Williams was named Chief Operating Officer in September, 2020. A proven leader and investor, Mr. Williams serves in this newly-created role to help to manage and grow the firm, and source and execute new portfolio investments. Solidifying its growth, Atlantic Street relocated to New York City to better situate the firm and accommodate its nearly 40 professionals that include its investment team, operating advisors and professional staff in a newly-refurbished office building located at 477 Madison Avenue.
About Atlantic Street Capital
Atlantic Street Capital is a private equity firm that invests in lower middle market companies with between $4 million and $15 million in EBITDA. The firm invests in fundamentally sound companies that will benefit from capital investment and value-added strategic and operational initiatives. Atlantic Street Capital's approach are hands-on investors who work closely with management to unlock their business' underlying value and help them succeed. The firm is currently making investments in Atlantic Street Capital IV, LP. For more information, visit www.atlanticstreetcapital.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334
SOURCE Atlantic Street Capital
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