Z Wireless has acquired most of the stores from The Wireless Center and Select Communications. Founded in 2001, Z Wireless was backed by Atlantic Street Capital in 2011.

Atlantic Street Capital has invested in Alex Apparel Group. Financial terms weren’t announced. New York-based Alex designs and distributes branded ladies eveningwear dresses and separates.

ORIX Leveraged Finance and Chatham Capital have provided debt financing to support the acquisition of Z Wireless by Atlantic Street Capital. ORIX announced that it had closed a combined $23.1 million facility to Z Wireless. Sioux Falls, South Dakota-based Z Wireless markets Verizon Wireless products and services.

Atlantic Street Capital, a private equity firm focused on lower middle-market deals, has acquired Z Wireless, a retailer of Verizon Wireless voice and data communications services operating throughout the Great Plains. Terms of the deal were not released. Z Wireless is based in South Dakota.

EZE Trucking, a private equity-backed provider of specialty trucking and logistics services for the infrastructure market, has acquired Patterson Motor Freight, a specialized trucking company focused on the oil and gas industry. EZE Trucking is a portfolio company of Atlantic Street Capital, a private equity firm based in Stamford, Conn. Terms of the deal were [...]

Atlantic Street Capital, the Connecticut-based, lower middle market private equity fund, held its first close today, netting about $60 million of an expected $80 million Fund II, according to an individual familiar with the situation. The PE firm is using placement agent Ariane Capital partners and expects its second and final close to come this [...]

Atlantic Street Capital Management today announced the sale of Fleetgistics, an Orlando-based delivery services company, to Harbour Group, a St. Louis private equity firm. The sale, previously reported by peHUB, earned Atlantic Street a 7.7x return and 156.4% IRR on its initial $10.4 million equity investment. Lazard Middle Market and BB&T Capital markets advised the sell side.

The deal marks Atlantic Street’s first exit from a $45 million fund backed solely by Morgan Stanley Alternative Investments. According to Buyouts magazine, the firm is planning to raise a $100 million follow-up fund.

I spoke with Partner Peter Shabecoff on the thesis behind the roll-up, how a $10 million company became a national leader, and why the sale was “painful and bittersweet.

peHUB: So you made 7.7 times your money on a $10 million equity investment. What was the total deal value here? Is it safe to say more than $70 million?

Peter Shabecoff: We aren’t disclosing the total deal value but its safe to say it the value exceeded $70 million.

Atlantic Street Capital Management is in talks to sell Orlando-based delivery services company Fleetgistics to St. Louis-based buyout shop Harbour Group, according to a regulatory filing.

Fleetgistics has three divisions: Medifleet, which provides same-day delivery services to hospitals, laboratories and other medical-related institutions; Partsfleet, which delivers automotive parts and other supplies; and Scriptfleet, which provides delivery services for long-term care pharmacies.

Atlantic Street Capital is poised to begin fundraising for its sophomore special situations fund with a target of $100 million, possibly kicking off the marketing effort as soon as this month. The Stamford, Conn.-based shop is aiming to hold a first close around year-end at the earliest. The firm closed predecessor fund Atlantic Street Capital [...]

Timothy Lewis has joined Atlantic Street Capital as a partner. He previously was a partner with turnaround consultancy CRG Partners Group.