Osceola Capital Closes Fund At $125 Million Hard Cap

TAMPA, Fla.June 16, 2020 /PRNewswire/ — Osceola Capital (“Osceola“), a lower middle-market private equity firm today announced the final closing of Osceola Fund I (“the Fund”).  The Fund was oversubscribed, closing at its hard cap of $125 million, surpassing its original target of $100 million.  Osceola secured commitments from a diversified, institutional limited partner base that includes leading global public pension plans, financial institutions, a university endowment, family offices, and several high net worth investors.

Managing Partner Michael Babb said, “We want to thank our investors for their tremendous support.  It is exciting to partner with a top tier collection of institutions, family offices, and individual investors and we look forward to continuing to execute our strategy on their behalf.”

An earlier first close allowed Osceola to begin deploying capital and building out its team.  Since then, the fund has made investments accounting for $40 million of capital across the facility & industrial, healthcare, tech-enabled, and business services sectors.

“We are very enthusiastic about the existing portfolio and are pleased that the successful fundraise enables us to continue actively pursuing opportunistic investments and working collaboratively with management teams to create value for each stakeholder,” said Managing Partner, Ben Moe.

Will Newbrander, a Director at Osceola, addressed closing the fund amid the COVID-19 pandemic saying, “The Fund’s portfolio is very well positioned for the current macro environment and we believe that staying true to our strategy of paying appropriate multiples, utilizing light leverage, and carefully selecting industries with recession resilient qualities will reward Osceola’s investors.”

DLA Piper served as legal counsel for the Osceola Fund I fundraise.

Osceola Capital Leads Recapitalization of Central Medical Group

TAMPA, June 2, 2020 – Osceola Capital, a lower middle-market private equity firm focused on services businesses, announced today that it has partnered with management to recapitalize Central Medical Group (“CMG” or the “Company”).

Founded in 1997 and headquartered in Flanders, New Jersey, CMG is a leading provider of outsourced equipment management solutions for hospices.  In addition to managing the challenging logistics of delivering medical equipment to the site of care, CMG’s technology platform provides its clients with consolidated ordering and invoicing, as well as reporting and analytics on utilization, cost trends, and patient data.

“It was critical to find a partner who shared our vision for growth and quality while supporting the Central Medical mission and culture. In Osceola we found a like-minded partner who shares our enthusiasm for the industry and the commitment to support our continued efforts,” said Joe Sacco, founder and CEO of CMG.  Following the transaction, Mr. Sacco and co-owner/CFO John Armas will retain significant ownership stakes in the business alongside Osceola and will continue in their current roles, along with the rest of the existing management team.

Ben Moe, Managing Partner at Osceola Capital, commented, “We are excited to partner with Joe, John and their team at Central Medical. They have developed a strong reputation as a premier provider of hospice equipment management services in their markets. We look forward to helping the team bring their high-quality, technology-enabled service offering to new markets through add-on acquisitions and de novo facilities.”

Central Medical Group represents the sixth platform in Osceola’s current fund and Osceola’s second healthcare platform investment in 2020, following its investment in Healthcents (a provider of healthcare payor contracting and RCM services) in January.  CMG is actively looking for additional acquisition opportunities in this industry.

Top Gun Pressure Washing, a Portfolio Company of Osceola Capital, Completes Add-on Acquisition

DENVERApril 21, 2020 – Top Gun Pressure Washing (“Top Gun”), a portfolio company of Osceola Capital, announced that is has acquired Bob Popp Building Services (“BPBS”).

Founded in 1975 and based in Denver, BPBS provides high-rise, mid-rise, and ground-level window cleaning services for commercial businesses across Colorado.  Top Gun and BPBS have a long history of successful partnership, as the companies have collaborated on many projects, buildings and shared customers over the past 20+ years.

Stephanie White, President of Top Gun, commented, “We are excited to partner with the entire Bob Popp Building Services team and capitalize on the Company’s significant growth opportunities in the Colorado market.  BPBS is the clear market leader in Colorado commercial window cleaning due to its deep industry expertise, customer-first business model, and outstanding reputation.  Combining Top Gun and BPBS, who together have 73 years of operating experience in the Rocky Mountain region, reinforces our commitment to delivering quality, environmentally-friendly services and provides us with the resources and support to continue to grow our business.”

Ben Moe, a Managing Partner at Osceola Capital, added, “The acquisition of BPBS is consistent with Top Gun’s growth strategy of building a leading provider of facilities services in the Rockies and nationwide through the acquisition of strong regional players that complement our existing portfolio of services.  The addition of BPBS solidifies our core offering of pressure washing, window washing, power sweeping, and snow removal services, and we look forward to continuing to expand our geographic footprint and service suite.

Overview of Top Gun Pressure Washing

Founded in 1992 and headquartered in Colorado, Top Gun is a leading provider of exterior facilities services to commercial businesses and municipalities in the Rocky Mountain region of the US.  The Company’s service offering includes pressure washing, window cleaning, snow removal, and industrial power sweeping.

Osceola Capital Announces Acquisition of Healthcents

TAMPA, January 9, 2020 – Osceola Capital, a lower middle-market private equity firm focused on services businesses, announced today the acquisition of Healthcents, Inc. (“Healthcents”), a leading provider of medical reimbursement and related services.

Founded in 1994, Healthcents consults small and medium healthcare providers across the United States on payor portfolio and growth strategies by strengthening or entirely outsourcing traditional managed care departments. “Healthcents has successfully positioned itself as a leader in the highly complex payor contracting space over the course of its 25-year existence,” said Ben Moe, Managing Partner at Osceola Capital. “We are extremely pleased with this opportunity to enter the healthcare space and look forward to working with the leadership team to expand the customer base and continue building upon the company’s strong foundation.”

Erik Sewell, Vice President at Osceola Capital, added, “Small and medium healthcare providers are a massively underserved segment, particularly from a payor contracting standpoint. Healthcents helps providers optimize their contracting strategy, a vital element of the provider’s business model and ability to generate revenue. We see major potential to expand the service offering in this market.”

Armando Cardoso will serve as CEO of the Austin, Texas based company. Mr. Cardoso has previously advised and led healthcare teams across investment banking, private equity, healthcare providers, healthcare insurance companies and healthcare vendors. Most recently, he led a national team at Ascension, one of the largest health systems in the country.

“I’m thrilled to join Healthcents because we can make best-practices accessible – they don’t need to be reserved for only the largest or best-funded industry stakeholders,” said Mr. Cardoso. “Hiring skilled, fulltime managed care contracting talent is simply out-of-reach for most. Healthcents offers a valuable alternative to small and medium healthcare providers who need to strengthen and maintain their payor relationships. I look forward to growing our service offerings and team nationally.”

Healthcents represents the fifth platform within Osceola Capital’s current fund.  Senior debt financing was provided by Acorn Street Capital.  DLA Piper acted as legal counsel to Osceola Capital.

Osceola Capital Leads Recapitalization of Top Gun Pressure Washing

TAMPA, FL, August 27, 2019 – Osceola Capital, a lower middle-market private equity focused on services businesses, announced today that it has partnered with management to recapitalize Top Gun Pressure Washing, Inc. (“Top Gun” or the “Company”).

Founded in 1992 and headquartered in Loveland, Colorado, Top Gun is a leading provider of pressure washing and exterior facilities services to commercial businesses and local governments in the Rocky Mountain region of the US.  The Company’s service offerings include pressure washing, industrial sweeping, exterior high-rise cleaning, window cleaning, environmental spill clean-up, sandblasting, graffiti removal, pavement striping and specialty cleaning.

“Top Gun has been very successful over the past 27 years in becoming the largest pressure washing company in Colorado,” said Stephanie White, co-founder and President of Top Gun.  “We realized that to take our business to the next level, we would need a strategic partner that shared our vision for growth and had the capital resources and operational expertise to help us execute our strategy.  We look forward to working with the Osceola in this next stage of growth.”

Ben Moe, Managing Partner at Osceola Capital, commented, “We are excited to have the opportunity to partner with Top Gun’s founders and management team in this investment.  We look forward to working with senior management while they continue to grow their geographic footprint and suite of services through acquisitions and new facility locations.”

Patrick Watkins, Vice President at Osceola Capital, added, “Top Gun fits perfectly with Osceola’s investment model of backing management teams and founders at companies with long histories of success.  Top Gun has an extensive track record of providing exceptional quality, scale and responsiveness to their customers in an environmentally friendly and compliant manner, and Osceola is proud to partner with the Top Gun team to further support that mission.”

Top Gun represents the fourth platform investment in Osceola Capital’s current fund.  Senior debt financing was provided by Saratoga Investment Corporation.  DLA Piper acted as legal counsel to Osceola Capital.  Forbes M&A and Minor & Brown acted as financial advisor and legal counsel to the sellers, respectively.  Top Gun is actively looking for add-on opportunities.

I&I Sales Group, an Osceola Capital portfolio company, Completes Add-on Acquisition

TAMPA, July 10, 2019 – Industrial and Institutional (“I&I”) Sales Group, an Osceola Capital portfolio company, announced today that it has acquired Professional Foodservice Marketing, Inc. (“PFM”).  Headquartered in Atlanta, Georgia, PFM is a leading provider of outsourced sales and marketing services for foodservice disposables and janitorial manufacturers in the Southeast.  PFM is the fourth acquisition within the I&I Sales Group platform – joining Henson Sales Group, Bull’sEye and Cinpak.

Ben Moe, Managing Partner at Osceola Capital, said, “We are excited to partner with PFM, and are pleased to further strengthen our footprint in the Southeast.  We have enjoyed getting to know Steve Gubelman and his entire team at PFM and we believe PFM further strengthens I&I’s positioning for future growth.”

About I&I Sales Group

Industrial and Institutional (“I&I”) Sales Group provides outsourced sales and marketing services to manufacturers to help them grow their businesses more efficiently and effectively.  The Company acts as a representative of its manufacturer clients and facilitates relationships with customers across a range of services, including business development, sales planning and marketing efforts.  I&I Sales Group covers 26 states across the Northeast, Mid-Atlantic and South, and represents manufacturers in the janitorial, foodservice disposables, safety, equipment and supply industries.  Its product offerings include cleaning chemicals, hand soap, mops, mats, trash liners, gloves, take-out packaging, and disposable cutlery and tableware.

I&I Sales Group, an Osceola Capital portfolio company, Completes Add-on Acquisition – Outsourced Sales and Marketing Business Expands Geographic Footprint

TAMPA, April 12, 2019 – Industrial and Institutional (“I&I”) Sales Group, an Osceola Capital portfolio company, announced today that it has acquired Cinpak (cinpak.com), a provider of outsourced sales and marketing services.  Headquartered in Austin, Texas, Cinpak’s product offerings include disposable take-out packaging, pizza boxes, cutlery, cups, plates, bowls, gloves, wipes, bags and buffet supplies.  Cinpak is the third acquisition within the I&I Sales Group platform – joining Henson Sales Group (hensonsales.com) and Bull’sEye (bullseyeinc.net).

I&I Sales Group continues to expand its footprint nationally through the organic growth of new sales offices and aggressively executing acquisitions.  This approach has resulted in the expansion of the company’s geographic footprint from 13 Mid-Atlantic states as of July 2018 (or whenever–insert correct date) to now 24 states spanning from Maine to New Mexico.  The company has also broadened its product offerings from janitorial and sanitation to now include disposables, safety, equipment and supply.

“Cinpak has been a premier service provider to its manufacturers and customers for over 20 years and it was important to us to find a partner with the same level of commitment to quality and service that has allowed us to be successful over our history.  We believe we have found that partner in Osceola and I&I,” said Tony Lasita, CEO of Cinpak.

“We are thrilled to have Cinpak join the I&I family.  Tony and his team have built a strong business with a reputation for partnering with high quality manufacturers, adding significant value to its product offering, and generating excellent and consistent customer satisfaction.  We look forward to continuing that same level of service post-transaction,” said Ben Moe, a Managing Partner at Osceola. “Additionally, Cinpak’s geographic footprint will further enable I&I to provide greater value and broader services to our manufacturers and customers across the country.”

About I&I Sales Group

Industrial and Institutional (“I&I”) Sales Group provides outsourced sales and marketing services to manufacturers to help them grow their businesses more efficiently and effectively.  The Company acts as a representative of its manufacturer clients and facilitates relationships with customers across a range of services, including business development, sales planning and marketing efforts.  I&I Sales Group covers 24 states across the Northeast, Mid-Atlantic and South, and represents manufacturers in the janitorial, sanitation, disposables, safety, equipment and supply industries.  Its product offerings include cleaning chemicals, hand soap, mops, mats, trash liners, gloves, take-out packaging, and disposable cutlery and tableware.

Osceola Capital Management Completes Acquisition of 360 Quote – Four Add-On Acquisitions Further Enhance Market Position

Tampa, FL, March 1, 2019 – Osceola Capital Management, LLC (“Osceola”), a lower middle market private equity firm focused on services businesses, announced today that it has completed the acquisition of 360 Quote, LLC (“360 Quote”). 360 Quote operates lead generation websites in the insurance segment, with a focus on auto insurance websites including CarInsuranceComparison.com and AutoInsurance.org.

Osceola believes that due to market fragmentation and other factors there are significant favorable consolidation opportunities. The firm also announced that 360 Quote has made four add-on acquisitions to further strengthen its presence in the auto insurance category, adding lead generation websites AutoInsuranceEZ.com, CarInsurance.org, Insurantly.com and CompareAutoInsurance.com.  The lead generation web sites will be consolidated under the 360 Quote brand.

“We are excited about the opportunities for organic and M&A growth with 360 Quote,” said Ben Moe, Managing Partner of Osceola. “We believe the digital marketing channel within the insurance space has strong growth potential and that 360 Quote’s business model and core team are highly scalable. We are excited about the opportunity to partner with Joel Ohman, a respected operator with deep SEO expertise and credibility in the insurance and financial services spaces. This deal aligns well with our buy and build philosophy of partnering with great operators to execute rollups in historically fragmented industries.”

Joel Ohman, founder and CEO of 360 Quote added, “The partnering of 360 Quote’s high intent, consumer-centric, organic traffic platform with Osceola’s deep institutional M&A knowledge, operational excellence, and great cultural fit will rapidly accelerate our growth and allow us to do something greater together than we could do apart. I am excited about the opportunities that this partnership with Osceola will bring to 360 Quote, our partners, and the millions of consumers who are looking to save money on their insurance by comparing insurance quotes online.”

Osceola was drawn to the lead generation sector due to its high fragmentation, strong macro factors in the insurance and digital marketing segments, the high degree of scalability and profit margin for organic lead generation businesses, and 360 Quote’s strong operational team.

About 360 Quote LLC

360 Quote is a digital media company with a 10+ year track record of high performance in the competitive online insurance lead generation market. The company’s core competency is SEO/content marketing, and they hold a portfolio of premium high organic traffic properties that generate millions of high-intent consumer search queries, primarily in the insurance and financial services verticals. 360 Quote values editorial independence and serves consumers by helping insurance shoppers save money and get answers to their financial questions at the moment they most need it when searching online. Some of their flagship brands include AutoInsurance.org and CarInsuranceComparison.com among many others.

I&I Sales Group, an Osceola Capital portfolio company, Completes Acquisition of BullsEye

TAMPA, February 28, 2018 – I&I Sales Group (“I&I”), an Osceola Capital portfolio company, announced today that is has acquired BullsEye Sales & Marketing (“BullsEye”).  Headquartered in Hershey, Pennsylvania, BullsEye is a leading provider of outsourced sales and marketing services for foodservice disposables manufacturers on the East Coast.

Ben Moe, Managing Partner at Osceola Capital, said, “The BullsEye team is a perfect fit with Avision Sales Group and establishes I&I as the largest janitorial and foodservice disposable rep group on the East Coast.  I&I’s first two acquisitions, HSG and BullsEye, provide an excellent springboard for executing I&I’s roll-up in this space, and we look forward to carrying the momentum in our M&A pipeline into 2019 and beyond.”

About I&I Sales Group

Industrial and Institutional (“I&I”) Sales Group provides outsourced sales and marketing services to manufacturers to help them grow their businesses more efficiently and effectively.  The Company acts as a representative of its manufacturer clients and facilitates relationships with customers across a range of services, including business development, sales planning and marketing efforts.  I&I Sales Group covers 24 states across the Northeast, Mid-Atlantic and South, and represents manufacturers in the janitorial, sanitation, disposables, safety, equipment and supply industries.  Its product offerings include cleaning chemicals, hand soap, mops, mats, trash liners, gloves, take-out packaging, and disposable cutlery and tableware.

Osceola Capital Forms I&I Sales Group and Completes its First Acquisition

TAMPA, June 30, 2017 – Osceola Capital announced today that it has formed Industrial & Institutional Sales Group (“I&I Sales Group”), which will focus on consolidating the highly fragmented market of outsourced sales rep agencies that serve the janitorial & sanitation, foodservice disposables, safety, and equipment & supply industries.  Additionally, I&I Sales Group is pleased to announce its first acquisition, Henson Sales Group (“HSG”).  Headquartered in Wayne, Pennsylvania, HSG is a leading provider of outsourced sales and marketing services for janitorial and sanitation manufacturers on the East Coast.

Ben Moe, Managing Partner at Osceola Capital, said, “We are excited to partner with Peter Henson and the entire team at Henson Sales Group.  We look forward to continuing I&I’s buy-and-build growth strategy and establishing a national footprint in each of our core end markets.”

About I&I Sales Group

Industrial and Institutional (“I&I”) Sales Group provides outsourced sales and marketing services to manufacturers to help them grow their businesses more efficiently and effectively.  The Company acts as a representative of its manufacturer clients and facilitates relationships with customers across a range of services, including business development, sales planning and marketing efforts.  I&I Sales Group covers 24 states across the Northeast, Mid-Atlantic and South, and represents manufacturers in the janitorial, sanitation, disposables, safety, equipment and supply industries.  Its product offerings include cleaning chemicals, hand soap, mops, mats, trash liners, gloves, take-out packaging, and disposable cutlery and tableware.