Mirus advises FleetLogix in recapitalization by Striker Partners
Mirus Capital Advisors announced that it has advised FleetLogix, Inc., a leading provider of tech-enabled managed labor services to the transportation, fleet management, and logistics industries, in a majority recapitalization by Striker Partners. This transaction created liquidity for existing shareholders, all of whom also reinvested alongside the new majority owner. Mirus served as the exclusive financial advisor to the selling stockholders in the transaction.
FleetLogix serves rental car agencies across the U.S., providing outsourced labor to transport and clean rental cars at more than 50 airports nationwide. The company uses a proprietary technology platform to track and analyze performance at each site, to ensure quality and efficiency in its service delivery, and to provide data and metrics to its managers and its clients.
“This year marked several milestones for the company in the number of client locations served, size of our workforce, and revenues. This inflection point in our growth was a logical time to partner with a financial investor experienced at successfully taking entrepreneurial companies to the next level,” said FleetLogix founder and CEO Adam Kimball. “Striker Partners brings technology expertise as we continue to deploy our FleetAnalytix app, and they are a great fit operationally and culturally. I look forward to working with them to develop even closer relationships to our valued clients.”
“Mirus was unbelievable!” said Adam Kimball. “Andy Crain and the Mirus team did an amazing job of getting to know our industry and more importantly the culture of FleetLogix, and of finding an ideal investment partner that would mirror our team.”
About Striker Partners:
Striker Partners is a private, family-based investment firm formed to make majority equity investments in profitable and growing businesses. Since its inception in 1999, Striker has partnered with experienced owners and operators to provide the capital and strategic resources necessary to capitalize on growth opportunities. Striker’s team of professionals brings extensive operating and investment experience, and together with its operating partners the team has built strong businesses and generated significant value. Striker is a member of The Graham Group, an alliance of independently owned and operated industrial and investment management businesses that share in the Graham family heritage.
About Mirus Capital Advisors:
Mirus Capital Advisors’ Facility, Industrial and Commercial Services practice group is an active adviser to companies in this growing sector. The ongoing shift towards outsourced services creates exciting opportunities for acquirers and investors to build and consolidate across a wide range of services. Mirus has engaged with the leading strategic acquirers in this market, along with many of the best known private equity firms focused on creating the next big player. Our relationships with these publicly-traded companies, large privately-owned service providers and private equity firms provide Mirus with current insight into the strategic acquisition and investment goals of leading companies in the sector. Our team has advised clients that provide a variety of facility services, including:
- Managed labor services
- Commercial cleaning services
- Compliance and facility inspection services
- Building security
- Technology-enabled facility outsourcing services
- Route-based facility services
- Commercial and industrial staffing services
As a middle-market investment bank focused on mergers and acquisitions, Mirus drives successful deals for companies in the business services, industrial, consumer, technology and healthcare industries in addition to its facility services expertise. Mirus bankers have proven time and again that our focus on client objectives, thorough preparation, transaction experience, and unwavering commitment to every deal lead to meaningful accomplishments for business owners. Our affiliate Mirus Securities, Inc. is a registered broker-dealer and FINRA member.Back to Transactions