Industry Related TransactionsLandpoint acquired by Cotton Creek Capital
Sellside Advisor To Landpoint
7 Mile Advisors acted as the exclusive sell-side advisor to Landpoint in their transaction with Cotton Creek Capital. The investment will accelerate organic growth and strategic acquisitions across Landpoint’s targeted markets.
CHARLOTTE, NC — Landpoint, a technology-enabled provider of geospatial services to a variety of infrastructure end-markets, has been acquired by Cotton Creek Capital, an Austin, TX-based, operationally-focused private equity firm that focuses on investing in and growing lower middle market companies (“Cotton Creek”). 7 Mile Advisors (“7 Mile”) acted as the exclusive sellside advisor to Landpoint throughout the transaction, marking their 12th successful transaction closed in 2019.
“Landpoint is an established leader in the Geospatial market, serving some of the largest utility infrastructure projects in the South Central U.S. They have a unique technology platform that provides a strong foundation for continued growth. I am excited to watch the partnership between Landpoint and Cotton Creek unlock additional opportunities and drive further success,” said 7 Mile Director, Neil Churman.
The transaction included Bossier City, Louisiana-based, Landpoint, LLC and all of the Company’s subsidiaries, which include King Surveyors, LLC and West Company of Midland, LLC (collectively “Landpoint”). Landpoint’s current executive team led by President, Chad Souter, Chief Operating Officer, Dustin Price, and Chief Financial Officer, Orlando Sala, will continue to manage the day-to-day operation of the business.
Landpoint was originally founded in 1984 as a provider of commercial land surveying services. Since then, they have leveraged technology to rapidly expand core service offerings to include aerial data collection, 3D laser scanning, and geographic information systems. Landpoint has grown to nine office locations with surveyors registered in 13 states, serving a range of market sectors including energy, industrial, commercial, and utility, with notable strengths in serving large scale, linear utility projects, including midstream oil & gas, electrical transmission, and distribution, water conveyance, and fiber optic networks.
“We chose Cotton Creek as our partner due to their experience and relationships in the infrastructure services sector as well as their history of working with family owned and operated companies”, stated Chad Souter, President. “We believe our partnership will allow for an acceleration of Landpoint’s growth as we look to expand the business via organic and strategic acquisition opportunities.”
“We look forward to partnering with the Landpoint team and supporting the continued growth of the Company. The Company’s track record of strategic acquisitions combined with organic growth is remarkable, and is indicative of the strong management team in place, led by Chad, and the strength of the business model over three plus decades”, commented Lee Rash, Partner of Cotton Creek Capital. “We look forward to further accelerating the growth profile given our experience in infrastructure services as well as existing relationships in many of the end markets which Landpoint currently serves.”
7 Mile is a leading boutique investment bank serving technology-enabled companies in the infrastructure, industrial, environmental, and energy services sectors. The partner-led investment bank is headquartered in Charlotte, NC, with additional offices in Houston, Chicago, Pittsburgh, West Palm Beach, and Bradenton. The team at 7 Mile work as a close knit group, executing effective and efficient transactions for their clients, in addition to providing valuation and market assessment advisory services. To learn more about the firm, or to review recent research on the Technology and Business Services ecosystem, visit their website at 7mileadvisors.com.
“The 7 Mile team were the most organized and detail-oriented group of investment banking professionals we have worked with in all of our many previous acquisition transactions,” commented Chad Souter, President of Landpoint. “Their connections in the industry and overall team experience played a pivotal role in a successful outcome. They truly went above and beyond for us, and we always felt like we were their number one priority throughout the entire process.”
About 7 Mile Advisors
7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. 7 Mile Advisors advises on M&A and private capital transactions, as well as provides market assessments and benchmarking. As a close-knit team with a long history together and a laser focus on our target markets, 7 Mile Advisors helps its clients sell companies, raise capital, grow through acquisitions, and evaluate new markets. All securities transactions are executed by 7M Securities, LLC, member FINRA / SIPC. For more information, including research on the M&A markets, visit www.7mileadvisors.com.
About Landpoint
Landpoint is an award-winning Firm of registered land surveyors and engineers providing nation-wide coverage for projects of all sizes. Landpoint’s core service offering includes land surveying, aerial data collection, 3D laser scanning, and geographic information systems. The Company serves a range of market sectors including energy, industrial, commercial and utility, with notable strengths in serving large-scale, linear utility projects, including midstream oil & gas, electric transmission and distribution, water conveyance and fiber optic networks. With over 35 years of archived data, combined with meaningful operational infrastructure anchored by its propriety TrueAtlas technology, Landpoint is able to efficiently and effectively deliver its services to a broad range of customers. Landpoint has approximately 250 employees in nine locations across the South Central United States. For more information, visit Landpoint at www.landpoint.net.
About Cotton Creek Capital
Based in Austin, Texas, Cotton Creek Capital is an operationally-focused private equity firm that focuses on investing in and growing lower middle market companies in manufacturing, value-added distribution, industrial, specialty chemical, building products, food and beverage and business services sectors. The Firm targets businesses with EBITDA between $5 million and $15 million, investing between $10 million and $40 million in equity ranging from buyouts, recapitalizations, buy-and-builds to corporate divestitures. Cotton Creek Capital partners with exceptional management teams, collaborating to develop a focused vision and execution plan based on company-specific objectives. Cotton Creek Capital’s senior investment professionals have invested in and advised privately-held businesses for over twenty years with an active approach that enables Cotton Creek Capital to work in concert with management teams to build market-leading businesses. For further information, visit Cotton Creek’s website at www.cottoncreekcapital.com.
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