Hudson Avenue Advises Trinity Hunt’s Platform Investment, NexCore, on the Acquisitions of Sylvester & Cockrum, Kennedy Mechanical Contractors and Ryan Plumbing & Heating
Hudson Avenue Partners Advises NexCore, a Platform Investment of Trinity Hunt Partners, on the Acquisitions of Sylvester & Cockrum, Kennedy Mechanical Contractors and Ryan Plumbing & Heating
Hudson Avenue Advises Bluewater and Pipeline Technique on its Triple Acquisition from Stanley Black & Decker
TRANSACTION SUMMARY
  • Growth-oriented Sponsor executing on a thematic buy-and-build strategy via the acquisition of 3 accretive targets on top of a robust M&A pipeline
  • Aggressive value creation plan centered around building a differentiated maintenance-first commercial facility services platform with a national footprint
  • Model centered around maintenance, repair and replacement services driving highly reoccurring revenue with opportunity for wallet share expansion via footprint growth
  • Financing required from lender comfortable with high-growth platform and conviction in value creation plan via outsized DDTL support
OUTLIER PROCESS RESULTS
Pre-Acquisition / Post-Acquisition
CLIENT PRIORITIES ACHIEVED
  • Certainty of financing supporting three simultaneous
    add-on acquisitions
  • Sufficient capital raised to consummate add-ons plus a DDTL commitment supporting growth
  • Ample flexibility to allow for re-levering in support of future acquisitions and ability to reinvest excess cash flow
  • Lender with demonstrated experience supporting high-velocity buy-and-builds with willingness to scale investment over time
“TOP-OF-MARKET” OUTCOMES DELIVERED
  • Certainty at outlier terms on an expedient timeline allowing for capital deployment to meet seller needs
  • Optionality developed from diverse set of lenders spanning middle and upper-middle market mandates
  • Highly-reputable lender capable of scaling commitment >3x in support of growth
  • Outlier DDTL commitment at highly-efficient cost of capital and elevated leverage incurrence test providing ample dry-powder
CLIENT PRIORITIES ACHIEVED
  • Certainty of financing supporting the acquisition
    and thematic approach to near-term expansion
  • Sufficient capital to consummate the transaction, plus DDTL commitment supporting velocity of add-on growth
  • Ample flexibility to allow for re-levering in support of future acquisitions and ability to reinvest excess cash flow
  • Lender with demonstrated experience supporting
    high-growth platforms and willingness to support aggressive buy-and-build strategies
“TOP-OF-MARKET” OUTCOMES DELIVERED
  • Certainty at outlier terms completed within expedited timeline allowing for immediate capital deployment
  • Optionality from a diverse set of lenders comfortable with high-growth borrower and rapid acquisition strategy
  • Outsized committed DDTL and elevated leverage incurrence test providing ample capital for acquisition growth in a tightening credit environment
  • Fully-outsourced financing process and in-depth structuring guidance from launch through funding
Hudson Avenue Partners Raise The Bar
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