Southfield Capital bought Tier One Relocation, which specializes in moving services for the military. Financial terms were not disclosed. The Private Bank provided the senior debt financing. Finn Dixon & Herling provided legal counsel to Southfield. Raymond James acted as financial advisor to Tier One Relocation and its shareholders.
GREENWICH, CT – Southfield Capital, a leading lower middle market private equity firm, is pleased to announce the acquisition of Tier One Relocation, a logistics manager that specializes in household goods moves for military personnel. Headquartered in Weirton, West Virginia, Tier One Relocation is an outsourced service provider to transportation companies and provides a range of mission-critical services, including order procurement, relocation management, customer service and back-office administration. The Company’s core value proposition is its ability to maximize customer revenue, capacity utilization and provide complete outsourcing of the rigorous Department of Defense administrative process. The Company’s value proposition is enabled by an extensive and specialized network of service providers, business processes and IT systems that were designed specifically for the military’s unique relocation requirements. The Company is led by CEO, Brian Gallagher, who has 25+ years of transportation industry experience and was previously CEO of HomeDirectUSA.
“Everyone at Tier One is excited with the opportunity to partner with Southfield Capital,” said Brian Gallagher, CEO of Tier One. “Tier One has had amazing success in providing quality service to military members, and we know that with Southfield’s support, we are just scratching the surface of our true potential. Tier One’s owners and I did significant due diligence in choosing the right investment partner as we know Tier One, with the proper support and access to capital, has the opportunity to be the leader in this space. After much deliberation, the clear choice was Southfield as they met each of our criteria: creative, aggressive, open-minded and with a history of successful investments in logistics. The prior majority owners of Tier One will not only be involved to ensure its continued success, each of them retained ownership going forward because of their confidence in the future of Tier One. We look forward to an outstanding future partnering with Southfield.”
Southfield Partner, Andy Cook, commented, “We have followed the military relocation industry for a number of years and are excited to partner with a terrific management team, leading a high growth platform. The military relocation industry is mission-critical to the Department of Defense and has proven resilient through economic cycles, political and military leadership changes, as well as fluctuation in overseas military activity levels. Tier One has carved out a strong market position through quality service to military members; we believe the Company has considerable potential to raise the bar of service currently being provided in the industry. We look forward to partnering with them and leveraging our extensive transportation and military experience to execute on the Company’s growth plans.”
The Private Bank provided the senior debt financing. Finn Dixon & Herling provided legal counsel to Southfield Capital. Raymond James acted as financial advisor to Tier One Relocation and its shareholders.
About Southfield Capital
Southfield Capital is a private equity firm that invests in growth oriented, lower middle market companies in the outsourced business services and specialty finance sectors. The firm targets companies with $4 – 12 million in EBITDA and partners with management to scale the business through a combination of organic and acquisition growth strategies. For more information, please visit www.southfieldcapital.com.