Waiting on Businesses Pays Off for PE

Nautic Partners and Pamlico Capital have agreed to sell MACTEC to AMEC (LSE: AMEC) for $280 million. MACTEC provides engineering and environmental services to the energy, commercial/industrial, transportation/infrastructure and federal sectors. The company was acquired by Nautic and Pamlico in a 2002 LBO.

Since the beginning of 2009, PE investors have exited 84 companies primarily involved in the Commercial Services industry, according to the PitchBook Platform. Exit activity in the industry soared last year to 49 completed exits, more than doubling 2009's count, and it is carrying on at a solid pace with 15 exits already completed so far this year. The Media & Information Services sector has accounted for 20% of the 84 exits, more than any other sector in the industry, followed by BPO/Outsource Services with a 13% share. While many investors are exiting investments in the industry, 337 PE investors have completed new investments in Commercial Services companies during the same time period. The most active include H.I.G. Capital with 11 deals and The Riverside Company with 9.