Mirus Capital Advisors advises FleetLogix on its majority recapitalization by LAZ Parking

Mirus Capital Advisors, one of the largest independent middle-market investment banking firms in New England, has advised FleetLogix, Inc., a leading provider of tech-enabled managed labor services to the fleet management, transportation, and logistics industries, in its sale of a majority interest to LAZ Parking. FleetLogix management and Striker Partners also reinvested alongside the new majority owner. Mirus served as the exclusive financial advisor to FleetLogix in the transaction.

Based in San Diego, California, FleetLogix serves rental car agencies, providing managed labor services that include transportation and cleaning of rental cars at 37 airports nationwide. Other services provided by the company include onsite management, HR, payroll, and recruiting functions; shuttle bus driving; maintenance support; valet/check-in services and porters; lost and found management, and more. The company operates in 50 locations in over 20 states, with 2,400 employees. Its FleetAnalytix technology is in use at over 75 airports in the U.S. and Canada, tracking over 1.4 million vehicle movements per month.

“We could not be more excited about the opportunity this partnership represents for FleetLogix,” said Adam Kimball, CEO of FleetLogix. “We can’t think of a better partner with which to chart our future than LAZ.” FleetLogix customers will benefit from access to LAZ resources and HR capabilities, which will enhance the speed with which FleetLogix and FleetAnalytix, its web-based data analysis platform, can deploy personnel.

“We are thrilled to be partnering with FleetLogix and to be merging the world-class capabilities of our two companies,” said Alan Lazowski, Chairman and CEO of LAZ Parking, which is the largest, fastest-growing privately-owned parking operator in the U.S. FleetLogix’s services complement LAZ’s core business of providing customers with best-in-class talent and technology. The two companies will share operational best practices and technology, positioning FleetLogix to accelerate its growth and enhance support of its customer base throughout the U.S. and Canada.

“This deal provides FleetLogix with the resources it needs to grow. Bringing FleetLogix into the LAZ family makes perfect sense culturally and makes the most of each company’s strengths,” said Jeff Karp, President and Founder of LAZ Parking. The transaction is “a tremendous strategic step for our investment and the entire LAZ team,” said Jason Zibarras, founder and managing partner at Argo Infrastructure Partners, which, through its managed funds, is an investor in LAZ Parking.

Regarding Mirus’s advisory work, “Mirus was unbelievable!” said Adam Kimball. “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 strategic partner that would mirror our team.”

“Mirus provided outstanding guidance and support to FleetLogix throughout the transaction, helping us navigate a complex and lengthy process to secure a successful outcome,” said Charley French, Managing Principal of Striker Partners. “Their professionalism, attention to detail, and dedication were instrumental in maximizing value and ensuring a smooth transaction.” Striker Partners, which backed FleetLogix’s growth as its majority owner prior to this transaction, is a private, family-based investment firm and 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
• 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.