Silver Oak recaps Butler Burgher Group

Silver Oak Services Partners has led a recapitalization of Dallas-based Butler Burgher Group LLC, a provider of commercial real estate appraisals. No financial terms were disclosed for the transaction that was done with BBG management and co-investors. Deloitte Corporate Finance LLC served as financial advisor to BBG.

PRESS RELEASE

EVANSTON, Ill., Aug. 4, 2015 /PRNewswire/ — Silver Oak Services Partners, LLC (“Silver Oak”), a lower middle market private equity firm focused exclusively on service businesses, announced it has led the recapitalization of Butler Burgher Group, LLC (“BBG” or the “Company”) in partnership with management and co-investors.

BBG is a leading national provider of commercial real estate (“CRE”) appraisals, appraisal management services, environmental and property assessments, and related advisory services. Founded in 1992 and headquartered in Dallas, TX, the Company operates from 21 office locations with the ability to provide services in all fifty states. BBG maintains a diverse customer base of real estate owners and financing sources.

Silver Oak invested alongside the Company’s founder and senior management team in the transaction. “We are excited about our partnership with Silver Oak, which provides the additional capital resources and expertise we need to continue building the leading, independent appraisal services firm in the market,” said Diane Butler, founder and CEO of BBG. Diane and other management team members will continue on in their current roles with BBG and will retain a significant ownership stake in the business.

SOSP believes CRE appraisal services is an attractive sub-sector, with similar market dynamics to other fee-based financial services sectors in which SOSP has previously invested. Greg Barr, Managing Partner at Silver Oak, said, “We are very excited to partner with Diane Butler and the rest of the team at BBG. The Company has a successful track record and a strong reputation in the market. We believe BBG is poised for significant growth following several new office openings and a recent acquisition, each expanding the Company’s geographic presence and capabilities.”

Deloitte Corporate Finance LLC acted as financial advisor to BBG.

Silver Oak invests in business, consumer and healthcare services companies in the lower middle market, typically with EBITDA of $3 million to $20 million.