Blue Point Prepares the Foundation for SBG Holdings Exit
Blue Point Capital Partners is pleased to announce the exit of SBG Holdings ("SBG"), a BPCP III portfolio company, in a sale to Charger Investment Partners.
SBG Holdings, the parent company of SASE Company and Bartell Global, is a leading provider of consumables and associated equipment for the conversion and ongoing maintenance of concrete flooring and other hardscapes. The platform offers a comprehensive portfolio of world-class products covering the entire concrete flooring lifecycle, such as diamond tooling, abrasives, chemicals, dyes, grinding machines and floor scrapers.
Blue Point partnered with SASE in 2017 as the company's first institutional investor. Completing multiple acquisitions was a critical part of the value creation strategy, including the purchase of Bartell Global in 2021 ? a deal that successfully brought SASE's direct-to-contractor and Bartell's distribution channel brands together. Under Blue Point's ownership, SBG more than doubled its workforce and expanded from two U.S. locations to 10 sites across North America, the UK, South Korea and Singapore to offer more solutions and support to a broad spectrum of contractors around the world.
"Blue Point has been the right partner at the right time for SBG. Their wide range of resources and unparalleled support have enabled our team to create value across many key dimensions, including human capital, supply chain management, data and analytics and M&A," said SBG CEO Karl Moritz. "Today, the SBG platform is poised for growth based on the achievements we've made in partnership with Blue Point."
Beyond bringing Karl in as CEO following the founder's transition to the board, Blue Point added a CFO and developed a deep supporting bench in IT, human capital, finance and sales.
"We are grateful to the team for their efforts in driving growth and maximizing value for everyone involved in the sale of SBG," said Blue Point Partner Brian Castleberry. "The platform's evolution is a testament to Blue Point's impact when we utilize our operating resources and experience in partnership with strong management teams."
BlackArch Partners served as M&A advisor on the transaction, Perkins Coie served as legal counsel, and Stout acted as the financial and tax advisor.
SBG Holdings, Inc. is a holding company of subsidiary trade brands providing consumables and associated equipment for the ongoing maintenance, conversion and placement of concrete flooring and other hardscapes through its industry-leading brands of SASE and Bartell Global. SASE directly serves surface preparation and concrete polishing contractors with a comprehensive offering of consumables, equipment and related solutions. Bartell Global serves a wide range of distributors and rental providers with a comprehensive offering of solutions for site preparation and surface placement, finishing and polishing.
Blue Point Capital Partners is a private equity firm actively managing over $1.8 billion in committed capital. With resources in Cleveland, Charlotte, Seattle and Shanghai, Blue Point's geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors while providing the perspectives and resources of a global organization. Blue Point has over a two-decade history of partnering with lower middle-market businesses to build processes and capabilities to achieve growth. Blue Point's portfolio is supported by its unique capabilities ? which include an integrative team focused on innovative global supply chain, data and digital and human capital strategies ? as well as its extensive experience, network of industry resources and focused M&A efforts. Blue Point typically invests in businesses that generate between $30 million and $300 million in revenue.
Note: Certain statements about Blue Point Capital Partners made by portfolio company executives herein are intended to illustrate Blue Point Capital Partners' business relationship with such persons, including with respect to Blue Point Capital Partners' facilities as a business partner, rather than Blue Point Capital Partners' capabilities or expertise with respect to investment advisory services. Portfolio company executives were not compensated in connection with their participation, although they generally receive compensation and investment opportunities in connection with their portfolio company roles, and in certain cases are also owners of portfolio company securities and/or investors in Blue Point Capital Partners-sponsored vehicles.
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