ABOUT US
Transition Capital Partners (“TCP”) is a Southlake, TX based, family office funded, private investment firm. Founded in 1993, TCP has successfully invested in over 45 lower middle market companies spanning a diverse array of industries. TCP is affiliated with the Patterson Thoma Family Office.
TCP partners with management teams to build sustainable value in businesses over the long-term, without the artificial constraints fundraising cycles create for traditional private equity funds. With more than twenty-five years of proven success, we have a long track record of collaborating with our partners to accelerate the growth of lower middle market companies.
KEY INVESTMENT THEMES
Investment Criteria
- Control Investments
- Owner Recapitalizations, Corporate Divestitures and Management Buy-Outs
- EBITDA of $2mm – $15mm for platform acquisitions
- Recurring Revenue of $5mm – $15mm for SaaS software companies (no EBITDA minimums)
- Sectors:
- Business/Consumer Services
- Healthcare Services
- Technology-Enabled Services
- SaaS Software
- Niche Manufacturing / Distribution
- Geography:
- HQ in US
We Invest In Texas
We are interested in acquisitions in many industry sectors in Texas and surrounding states. We have completed more than 20 acquisitions in Texas and passionately believe in the economy and the management teams that choose to build businesses here.
Management Buy-Outs
We look for financial alignment with our management partners. We back management teams to buy out inactive or retiring partners, buy the business they are running or buy a business they want to run.
DEEP EXPERIENCE IN HEALTHCARE SERVICES AND SAAS SOFTWARE
- 20 plus acquisitions in Healthcare Services
- Numerous acquisitions of SaaS software companies with recurring revenues of $5mm to $15mm
WHY US
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Patient, Flexible Capital
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Focus on the Lower Middle Market
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Long Track Record of Success
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What You See Is What You Get
Patient, Flexible Capital
TCP is a family office funded, private investment firm. We partner with management teams to build sustainable value in businesses over the long-term, without the artificial constraints fundraising cycles create for traditional private equity funds. TCP is not bound by many of the investment restrictions that hamper traditional private equity funds, allowing us to offer flexible solutions to our management partners.
PORTFOLIO
www.successed.netSUCCESSED
Based in Frisco, TX, SuccessEd is an innovative educational software provider that is built by educators for educators. SuccessEd puts time-saving data management tools in the hands of educators which track compliance and services provided to students in special education, Section 504, Dyslexia, RtI, Medicaid, ELL, and behavior programs.
MCDANIEL METALS
Based in Houston, TX, McDaniel Metals has been a leading manufacturer of innovative, high performance HVAC components since 1982. The Company designs and fabricates primarily aftermarket components for the residential and commercial markets including curbs, curb adaptors, filter bases, economizers, dampers and other accessories, many of which improve indoor air quality and energy efficiency.
XCLUSIVE STAFFING
Based in Westminster, CO, Xclusive Staffing is a leading provider of outsourced staffing solutions for the hospitality industry. Xclusive offers customers a full-service suite of personnel solutions including housekeeping, laundry, culinary, banquet service, guest services, dishwashing, maintenance, food & beverage and events. Partnered with many of the nation’s leading hotel brands, Xclusive currently operates in more than a dozen states and more than two dozen major metropolitan markets.
HOSPICE SOURCE
Based in Plano, TX, Hospice Source is a nationwide full-service provider of respiratory therapy and medical equipment (“DME”) focused exclusively on the hospice market. The company’s equipment and services are an important part of the delivery of end-of-life care for thousands of hospice patients each year. With an aging population in the United States, demand for the Company’s services is expected to continue to grow in the future. With an experienced management team, dedicated and compassionate staff, and an industry leading software system, Hospice Source is well positioned to continue to meet these needs.
HIGHSTREET IT SERVICES
Highstreet is an IT services company that provides superior ERP and Cloud enabled managed services solutions for clients facing the challenges brought on by the intersection of traditional and updated application software solutions with new Cloud-based paradigm shifts occurring in the market. Highstreet offers full lifecycle consulting support services, including implementations, upgrades, optimization, application assessments, software selection, IT strategy, project management, application management, and change management services for PeopleSoft and Oracle E-Business Suite applications.
Rick Baldwin, a Legacy TCP Managing Partner, leads the investment and provides oversight to the business as Chairman.
GBS ENTERPRISES
GBS Enterprises provides warranty services and healthy sleep products to some of the nation’s largest and most respected retailers. These services include Furniture Protection Programs, Top-of-Bed Products and Protection Programs, Adjustable Bed Protection Programs, and Furniture Cleaning and Protection Products. GBS offers these products and services to the Furniture, Mattress/Bedding, and Pest Control Industries.
OUR TEAM
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DAN PATTERSON
CHAIRMAN
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ANDY FOSKEY
MANAGING PARTNER
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JASON FAUCETT
MANAGING DIRECTOR
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KEITH DRISCOLL
MANAGING DIRECTOR
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COLIN PATRICK
CFO
DAN PATTERSON
Dan is Chairman of TCP and on the investment committee. Additionally, Dan’s family office, the Patterson Thoma Family Office, co-offices with TCP. Dan has founded, acquired, and invested in many companies over his 40-year career. His first company, Medical Weight Management, founded in 1983, earned a place on Inc. 500’s list of fastest growing companies. Dan sold the company in 1989. In 1993, Dan founded Transition Capital Partners. In addition to his activities with TCP, in the early 2000s, Dan began spending more time with the Patterson Thoma Family Office (www.pattersonthomafamilyoffice.com) to diversify the family investments and to give back to the community. The Patterson Thoma Family Office primarily invests in real estate, debt, and minority interests. Dan has a B.A. degree in Economics from Kenyon College and an M.B.A. from Harvard Business School.
ANDY FOSKEY
Andy works with TCP’s portfolio companies on strategy, management team development, business building, problem solving and acquisitions. He is also responsible for identifying new TCP investments and investor relations. Prior to joining Transition Capital Partners, Andy was a Managing Director for several funds and family offices including a subsidiary of Credit Suisse, Hunt Private Equity Group and J.B. Poindexter & Co. Prior to that, Andy was the Chief Financial Officer of a private equity backed consolidator in the equipment rental industry and a Director of Corporate Finance for Comerica Bank. Over his career Andy has invested in numerous middle market companies, managed corporate affairs as a CFO, and advised on many successful M&A transactions. Andy earned a B.A. from Michigan State University, an M.B.A. from Wayne State University, holds the Chartered Financial Analyst designation and is a member of the CFA Institute. Andy currently serves on the Board of Directors for Xclusive Staffing, Hospice Source, McDaniel Metals, and Highstreet IT Services.
KEITH DRISCOLL
Keith assists TCP’s portfolio companies with budgeting, forecasting and financial management, bank financing, accounting and tax matters, legal and risk management. Keith also works on new TCP investment opportunities and maintains lender and service provider relationships. Prior to joining TCP, Keith served as a Vice President of Operations for Corporate Sports Marketing Group and as a Portfolio Manager with Salomon Smith Barney. Keith holds a B.A. in Economics from Davidson College. Keith currently serves on the Board of Directors of Xclusive Staffing, Hospice Source and McDaniel Metals.
JASON FAUCETT
Jason works with TCP’s portfolio companies on strategy, acquisitions, sales & operational management and management recruitment. Jason also focuses on identifying new TCP investment opportunities, marketing and investor relations. Prior to joining TCP, Jason was a Senior Partner at Lucas Group, a global recruiting firm, and in sales management at Centego Marketing, a portfolio company of the Patterson Thoma Family Office. Jason holds a B.A. in Finance from Southern Methodist University, where he played football. Jason currently serves on the Board of Directors of Hospice Source, Xclusive Staffing and McDaniel Metals.
COLIN PATRICK
Colin oversees the financial reporting and tax functions for TCP and assists portfolio companies with tax related matters. Prior to joining TCP, Colin was the Controller for philanthropist Lyda Hill in her family office, LH Holdings, and in public accounting. Colin holds a B.S. degree in Accounting and a M.S. degree in Taxation from the University of North Texas. Colin is a Certified Public Accountant and holds the Chartered Financial Analyst designation.
JEFF SAUNDERS
Jeff has significant experience across a number of industries including consumer products, industrial products & services, and specialty finance and insurance. Jeff currently services as an Area Presisdent for Private Client and Personal Lines at Arthur J. Gallagher & Co. He has previously served as CEO of Lifesmart Technologies, President and Chief Operating Officer of TWG Insurance and Chief Executive Officer of the Berry Family of Nurseries. Earlier in his career, Jeff worked as a senior manager at Bain & Company, a leading global strategy consulting firm, and as a senior consultant at PriceWaterhouseCoopers. Jeff graduated from the University of Iowa with a Bachelor of Business Administration in accounting and earned his MBA from the Amos Tuck School of Business Administration at Dartmouth College where he graduated as a Tuck Scholar. He is also a certified public accountant.
ED KUKLENSKI
Ed Kuklenski has 36 years of experience in the healthcare industry. Mr. Kuklenski previously served as the Executive Chairman, President and CEO of Suture Express, a leading national distributor of wound closure and disposable surgical instruments. Prior to joining Suture Express, Mr. Kuklenski served in various leadership roles at Child Health Corporation of America (CHCA). He also served as an advisor to CHCA’s private equity investment fund and President of CHCA’s insurance company. Mr. Kuklenski previously held various sales, marketing and general management positions with American Hospital Supply Corp. and Baxter, Inc. Mr. Kuklenski was the co-founder of FoodBuy, Inc., the nation’s largest group buying company serving the commercial and institutional food industry. Mr. Kuklenski was also the co-founder of Insurance Point, a national insurance broker focused on health care institutions. He has served on the Board of Directors of the Alliance of Children’s Hospitals, the Anesthesia Patient Safety Foundation, Children’s Medical Ventures, the Enterprise Center of Johnson County, iLife Systems, Medibuy, Patton Surgical, Promedix and VMI Medical. Mr. Kuklenski currently serves on the Board of Directors for Captify Health, Hospice Source, Medspeed, PT Solutions and StatLab. Mr. Kuklenski holds a B.S. from the University of Kansas, where he serves on the Dean’s Board of Advisors for the School of Business.
JOSH BAER
Josh helps people quit their jobs and become entrepreneurs at Capital Factory, Austin’s largest co-working space and most active investment fund. Josh founded his first startup in 1996 in his college dormitory at Carnegie Mellon University and now teaches a class at the University of Texas for student entrepreneurs. He was recently recognized as a Henry Crown Fellow and Braddock Scholar at the Aspen Institute, a member of the National Committee on US-China Relations Young Leaders Forum, and an Eisenhower Fellow. He represents Austin internationally as a Henry Crown Fellow at the Aspen Institute, a member of the National Committee on US-China Relations Young Leaders Forum, and an Eisenhower Fellow. Josh has lived in Austin with his wife Amy and three children since 1999. The best way to reach him is on Twitter @joshuabaer
PATRICK VOGT
Patrick is currently the CEO of The National Research Center for College and University Admissions (NRCCUA), a membership organization that links colleges and universities to the nation’s largest college and career planning program for students seeking post-secondary guidance. Prior to NRCCUA, Patrick served as the CEO for both public and private digital media technology companies. He has held senior executive positions at some of the most prestigious brands in the world, including The Weather Channel, Sony, HP, and Dell. Patrick was most recently CEO of HealthiNation, an Emmy Award-winning health and wellness digital video company. Before HealthiNation, he was President of The Weather Channel’s (TWC) International Division where he led all business outside of the U.S. and across all product categories including digital, professional and TV. Patrick is a technology leader, angel investor and popular public speaker, who has spoken on technology, entrepreneurship, and business across many venues including TED and the United Nations. Patrick received a Bachelor of Science degree in Business from the State University of New York at Oneonta and holds an MBA from the Hagen School of Business, Iona College.
INVESTOR PORTAL
CONTACT US
We are actively seeking investment opportunities. We welcome requests from entrepreneurs, business owners and management teams (and the intermediaries that represent them), who are interested in becoming a partner with Transition Capital Partners. If you have an opportunity that fits our investment criteria, contact Jason Faucett at
jason@tcplp.com or (214) 978-3812.
