BlackArch Partners Advises on Sale of Jones & Frank

MidOcean is investing alongside the current management team, as well as the former majority owner BB&T Capital Partners. BlackArch was retained to serve as exclusive financial adviser on the sale of the company. The management team, led by CEO Sterling Baker, will continue to direct the business in a partnership with MidOcean to capitalize on a number of attractive growth opportunities.

Terms of the transaction were not disclosed.

“The entire team at BlackArch Partners worked literally day and night to meet an aggressive schedule and pull the many diverse players in this transaction together. Their deep executive team was a real asset to our management team and the process for all parties,” remarked Baker.“I gained the utmost confidence in their advice and trusted their judgment as they managed the process to a successful close. I wouldn’t hesitate to work with them again in the future.”

Martin Gilmore, a partner at BB&T Capital Partners, commented, “BlackArch Partners provided excellent advice and demonstrated consistent dedication throughout a carefully orchestrated transaction process. The BlackArch team’s industry expertise and transaction experience, coupled with its detailed knowledge of Jones & Frank and its shareholder objectives, proved critical in closing a highly successful transaction.”

The sale was led by BlackArch bankers Matt Salisbury, Sean Whiteley and Bram Hall.

“The Jones & Frank management team has done a terrific job developing best-in-class sales and service capabilities, which have driven the company’s leading market share and strong competitive position,” Salisbury said. “Sterling Baker and his team have built an incredible platform and are well-positioned for significant continued growth through both acquisitions and the many compelling near-term organic opportunities.”

Headquartered in Raleigh, N.C., Jones & Frank (www.jones-frank.com) is the leading fuel and fluid handling equipment and service provider in the U.S., serving retail fueling stations, commercial and government fleets and emergency power customers. More than three times larger than its closest in-market competitor, the company commands the #1 position in the majority of its operating areas from Maine to Georgia and is recognized as the premier equipment and service provider in its footprint. Jones & Frank’s comprehensive service and distribution model creates a differentiated competitive position as one of the only firms in the country capable of providing a one-stop solution for all of its customers’ fueling infrastructure needs.

BB&T Capital Partners (www.bbtcp.com) manages over $725 million in committed capital across three funds, all of which are focused on the middle market. The firm makes direct equity investments in control transactions of privately-held companies; provides subordinated debt or mezzanine capital in support of transactions led by financial sponsors and others; and invests in other private equity funds. Since 1998, BBTCP has invested in over 35 privately-held, middle-market companies in a variety of industries, providing patient capital to facilitate buyout, acquisition, growth and recapitalization transactions. BBTCP’s investing strategy focuses on a partnership approach with a common goal of long-term value creation.

BlackArch Partners is a leading middle-market investment bank offering a full spectrum of advisory services. The firm offers a complete suite of investment banking services to financial sponsors, private companies and diversified corporations, including dedicated industry verticals for Distribution & Supply Chain Management and Energy. Based in Charlotte, N.C., BlackArch features a total of 12 industry-focused practices that cover all sectors of interest to middle-market investors; BlackArch professionals have closed over 250 transactions in 16 countries on four continents. Please visit our website, www.blackarchpartners.com, for more details.

Securities transaction conducted through BlackArch Securities LLC. Member FINRA and SIPC. Testimonials may not be representative of the experience of all clients. Testimonials are not a guarantee of future performance or success.