Avance Investment Management has made an investment in Synergy Infrastructure Holdings, a Tampa, Florida-based service and equipment provider. No financial terms were disclosed. TM Capital served as financial advisor to Avance on the deal while Greenberg Traurig, LLP served as legal advisor. McCombie Group served as strategic advisor to Synergy on the transaction.
NEW YORK and TAMPA, January 20, 2022 – Avance Investment Management (“Avance” or the “firm”), a private equity firm that invests in founder-owned, middle market businesses in the services and consumer sectors, today announced that it has made a significant investment in Synergy Infrastructure Holdings (“Synergy” or the “Company”). Terms of the transaction were not disclosed.
Founded in 2012, Synergy is a leading service and equipment provider headquartered in Tampa, Florida, with operations in the Southeastern U.S. across Florida, Georgia, Alabama and South Carolina. The Company offers general equipment and specialty pump rentals with a focus on construction and infrastructure related equipment including earthmoving, aerial, compact, material handling, compaction, pumps and other tools and machinery.
Avance will work closely with Synergy’s Founder, Chairman and Chief Executive Officer, Juan Carlos “JC” Mas, and the existing management team to expand the Company’s locations, products and service capabilities, while driving growth organically and through strategic acquisitions in new and existing markets.
“Our partnership with Avance is an exciting milestone for Synergy and a testament to the long-term strength of our business,” said Mr. Mas. “We are proud of the business we have built over the last 10 years, transforming Synergy from three locations to 19. We are excited to add Avance’s expertise and resources to our corporate organization as we scale the business and reach new heights.”
“We are thrilled to invest in Synergy, Avance’s third platform investment, further building on our commitment to partnering with talented entrepreneurs and management teams in the services sector,” said David Perez, Co-founder of Avance. “JC, whom we have known for more than 20 years, and the exceptional Synergy management team have built an incredible business. Synergy is well positioned to capitalize on several exciting market opportunities and we look forward to working with Synergy management to further position the Company for accelerated growth in a dynamic market.”
“As the ongoing migration to Florida and the Southeastern U.S. continues to accelerate, the demand for infrastructure and new construction projects has increased across the region,” said Luis Zaldivar, Co-founder of Avance. “As a market leader, Synergy is poised to play a critical role in providing solutions and services to address these growing needs. Synergy’s reputation and customer service have allowed the business to achieve extraordinary success and be well positioned for the future.”
TM Capital served as financial advisor and Greenberg Traurig, LLP served as legal advisor to Avance. McCombie Group served as strategic advisor to Synergy on the transaction.
About Avance Investment Management
Avance is a private equity firm with a passion for building great businesses in partnership with talented management teams. Avance focuses primarily on thematic investments within the Services and Consumer areas in the US, seeking attractive opportunities with catalysts for growth and fragmented spaces with consolidation opportunities. Avance’s team has a long history of partnering with founder-owned businesses, industry executives, and management teams and aims to add value to each investment through the application of its STAGE™ value creation framework. Avance has offices in New York and Miami.