GREENWICH, Conn., Dec. 10, 2018 /PRNewswire/ -- Southfield Capital, a premier lower middle-market private equity firm, announced today that it has completed the sale of Tier One Relocation ("Tier One"). Tier One is a leading certified provider of door-to-door household moving services for the U.S. military. Terms of the private transaction were not disclosed.
Southfield Capital acquired Tier One in 2016 in partnership with the company's management team. Tier One experienced tremendous growth during Southfield's ownership. The company's exceptional performance was due to the expansion of its service offering, strategic acquisitions and the augmentation of the leadership team. The sale represents a very successful exit for Southfield's investors and the management shareholders.
"Although we look forward to our new partnership, I'd be disingenuous if I didn't acknowledge a bit of sadness about leaving Southfield: they've been supportive, helpful, resourceful and there when we needed them and not when we didn't - everything a CEO wants out of a partner," said Brian Gallagher, CEO of Tier One.
Andy Cook, a Partner with Southfield Capital, commented on the sale, "It was truly an honor to work with the Tier One team. We took great steps to grow and professionalize the business while never losing track of the core mission of providing essential relocation services to U.S. military service members and their families."
Robert W. Baird, McGladrey and Finn Dixon & Herling advised Southfield on the transaction.
About Tier One
Headquartered in Weirton, WV, Tier One Relocation is a Department of Defense relocation manager. The Company coordinates military personnel household relocations throughout the continental U.S. Tier One's customers are transportation service providers including moving, line haul, freight forwarding, packaging and storage providers. Tier One's outsourced services include order procurement, relocation management, customer service and back-office administration.
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 - 12 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.
Andy Levison, Managing Partner
Andy Cook, Partner
Heb James, Partner
Tim Lewis, Partner
Brandon Pinderhughes, Vice President
Chris Grambling, Vice President
Josh Sylvan, Associate
Jon Goldstein, Chief Financial Officer
SOURCE Southfield Capital