SOURCE: Seacoast Capital

Seacoast Capital

March 31, 2015 09:30 ET

Seacoast Capital Announces Successful Growth Recapitalization of Amerit Fleet Solutions

SAN FRANCISCO, CA--(Marketwired - Mar 31, 2015) - Seacoast Capital ("Seacoast") announced today that it has successfully recapitalized Amerit Fleet Solutions ("Amerit"). Amerit is a leader in outsourced fleet maintenance services for utilities, transportation/logistics, and distribution clients across the US.

With this capitalization, Amerit is now in the position to pursue a growth strategy that will strengthen the company's leadership position by bringing new and innovative solutions, new technologies and new service locations throughout the US. Dan Williams, CEO of Amerit, noted, "Amerit has become the leading provider of outsourced maintenance and repair services by staying focused on our core mission which is providing customized, innovative service solutions that improve uptime and performance while reducing costs. Looking forward, we knew we wanted a strategic partner who could help us continue to build a strong and dynamic company, and Seacoast is that partner." Amein Punjani, COO of Amerit, added, "Seacoast understands the Amerit vision and has really been helpful throughout the whole process. With Seacoast's help we have a very bright future ahead of us. We are very excited to be working with them."

Jeffrey Holland, Partner at Seacoast Capital, stated, "Amerit is a leading company in the fleet maintenance industry. They are in a unique position to take advantage of tremendous growth opportunities as companies look to focus on their core competencies and outsource maintenance to improve efficiency. Amerit has a very strong Management team, and we look forward to working closely with them to implement their growth strategy."

About Amerit Fleet Solutions
Amerit Fleet Solutions (http://ameritfleetsolutions.com/) is the largest team of dedicated fleet maintenance experts in the nation. A unique company in the industry, Amerit Fleet Solutions is focused on creating individual solutions that improve problem areas and bring standardization, quality and savings to fleets anywhere in the USA. With over 100,000 vehicles under contract at over 500 locations nationwide, Amerit Fleet Solutions provides comprehensive service solutions for private, public and for-hire fleets.

About Seacoast Capital
Seacoast Capital (http://www.seacoastcapital.com/) was founded in 1994 to make non-controlling subordinated debt and equity investments in privately-held lower middle market companies. Seacoast specializes in "sponsorless" transactions, preferring to invest directly with company owners or management teams, although it will selectively consider investments led by professional investor groups. Seacoast typically provides between $3 million and $12 million of debt and equity capital for acquisitions, growth, shareholder buyouts, management buyouts, and leveraged recapitalizations. While industry agnostic, Seacoast broadly invests in the specialty manufacturing, value-added distribution, and business services sectors. Seacoast generally targets investments in companies with $20 million to $150 million in revenue and $2 million or more of EBITDA. With offices in Boston and San Francisco, Seacoast has invested over $270 million in over 20 states since 1994. Seacoast is currently investing its third fund, Seacoast Capital Partners III, L.P.

For more information, or to submit an investment opportunity to Seacoast, please contact Patrick Gengoux, Associate, by phone in San Francisco at (415) 956-1400 or via e-mail at pgengoux@seacoastcapital.com.

Contact Information

  • Contact: Patrick Gengoux
    Associate
    Tel: (415) 956-1400
    E-Mail: Email Contact