Chartwell Investments Entrepreneur & Founder Capital Leads Growth Investment in Guardian Fleet Services

Guardian acquires Sapp’s Wrecker Services and Emerald Transportation

The Guardian investment exemplifies our strategy of partnering with entrepreneurs and founder-owned companies to help accelerate their growth and we are so pleased to join the Guardian team”
— Michael Shein, Managing Partner of CHIEF Capital
NEW YORK, NY, UNITED STATES, February 22, 2023 /EINPresswire.com/ -- Chartwell Investments Entrepreneur & Founder Capital (CHIEF Capital), announced today that it has completed a growth investment in Guardian Fleet Services, Inc. (Guardian), the leading provider of towing, recovery, and specialized transportation services in the United States, operating a fleet of over 400 vehicles from more than 23 terminals throughout Florida and Georgia. Guardian was formed as a consolidator of the fragmented towing, recovery and specialized transportation segments in Florida by Geoff Russell and Scotty Crockett and is continuing this strategy with the announcement today of the acquisition/mergers of Sapp’s Wrecker Service and Emerald Transportation. This investment will accelerate Guardian’s growth trajectory as it continues to expand upon its industry-leading capabilities and geographic footprint.

Joining the Guardian Board will be CHIEF Capital Executive Council Member Gary Kessler, who possesses deep transportation and logistics experience, previously serving in multiple C-Suite and Board roles in the space as well as Michael Shein, Managing Partner of CHIEF Capital and Deepak Sethi, Principal of CHIEF Capital. This is CHIEF Capital’s fourth investment in its latest investment vehicle formed in 2019.

“The acquisition of Emerald Transportation and Sapp’s Wrecker Service is part of an exciting and rapid growth plan for Guardian Fleet Services, we couldn’t be more excited to have both of these teams join the GFS Family! The financial backing we have been able to secure with CHIEF Capital & their partners solidifies our plans for continued growth beyond the state of Florida.” said COO, Tom Tedford. Geoff Russell, Co-Founder and CEO of Guardian, said “We found great alignment with CHIEF Capital from a growth, leadership and culture perspective and are thrilled to partner with their team.” Scotty Crockett, Co-Founder and President of Guardian added “This investment will allow Guardian to continue its aggressive growth and consolidation strategy within Florida and more broadly in the Southeast. We are excited to partner with the CHIEF Capital team and their financing partners.”

Michael Shein, Managing Partner of CHIEF Capital added, “Guardian has built an impressive team and a market-leading position with a strong culture of uncompromised professional customer service and exceeding customer requirements and expectations. We are incredibly excited to partner with Geoff Russell, Scotty Crockett and the Guardian team to support its continued rapid growth. The Guardian investment exemplifies our strategy of partnering with entrepreneurs and founder-owned companies to help accelerate their growth and we are so pleased to join the Guardian team. We are pleased to partner in this transaction with Backcast Partners, Morgan Stanley Private Credit and Source Capital.”

CHIEF Capital was advised by a legal team led by Tom Zahn at McGuireWoods LLP. Andrew Fenton of Skyway Capital Markets advised Guardian.

About Chartwell Investments Entrepreneur & Founder Capital (CHIEF Capital)
CHIEF Capital provides flexible private equity for entrepreneurs, family-owned businesses, and corporate carveouts. The firm partners with management owners to help realize their visions and provide long-term capital, resources and expertise to accelerate growth and provide generational liquidity. CHIEF Capital customizes each investment to meet the objectives of its entrepreneur and family partners. With 40+ years of experience, over $750 million of recent transaction value, 6 current platform investments and 16 recent add-on acquisitions, CHIEF Capital focuses on niche lower middle market companies with an emphasis on healthcare, healthcare services, business services, and niche manufacturing segments. Please visit Chiefcap.com for more information.

About Guardian Fleet Services
Headquartered in West Palm Beach, FL, Guardian Fleet Services provides superior towing, recovery, and specialized transportation services to municipal, state and federal agencies, and commercial enterprises and is the largest provider of towing, recovery and specialized transportation in the United States. Guardian Fleet Services was formed in 2017 as a consolidator of fragmented towing, recovery, and specialized transportation companies in Florida. Today, Guardian Fleet Services consists of 23 locations strategically located throughout Florida and Georgia. The affiliated companies have 200+ years of combined experience, over 400 employees, and more than 400 assets in its towing and specialized transportation fleet.

Guardian is recognized as the industry leader in towing and transportation services while employing and embracing the best people and technology while continuing to focus on internal efficiencies in its business model. For more information about GFS please contact Hannah O’Shea at hoshea@guardianofthehighways.com or go to guardianofthehighways.com.

About Morgan Stanley Private Credit
Morgan Stanley Private Credit, part of Morgan Stanley Investment Management, is focused on direct lending and opportunistic private credit investment in North America and Europe. The Morgan Stanley Private Credit team invests across the capital structure, including senior secured term loans, unitranche loans, junior debt, structured equity and common equity co-investments. For further information, please visit the website: Morgan Stanley Private Credit.

About Backcast Partners
Backcast Partners, formed in 2016, manages value-additive, credit-focused private investment funds providing capital to both private equity backed and privately held, management-owned companies. With over $1 billion of assets under management, the Backcast team has been supporting traditional middle market companies ($7.5 million to $50 million of EBITDA) for decades. Backcast Partners has a very flexible capital mandate and seeks to invest from $10 million to over $100 million per transaction via bespoke capital solutions throughout the capital structure. Backcast Partners operates out of offices in New York City, Millburn, NJ and Los Angeles, CA. For further information, please visit the website: backcastpartners.com.

About Source Capital
Source Capital is a private investment firm focused on providing flexible equity and debt capital to lower middle-market companies across a range of industries. Source Capital’s investment strategy targets growing companies with greater than $2 million in EBITDA seeking a growth-oriented partner. Since its founding in 2002, Source Capital has made 25 equity platform investments and 52 add-on acquisitions as well as 41 debt investments through its credit platform (four separate credit funds), which was formed in 2011. For further information, please visit the website: source-cap.com.

About McGuire Woods
McGuireWoods ranked among the leading law firms for U.S. M&A deals in 2022. Its private equity capabilities have earned nationwide recognition from Chambers USA and The Legal 500. The firm also was a finalist in six deal categories for the 2022 M&A Advisor Awards, which recognized top corporate transactions and the firms involved in closing them. For further information, please visit the website: mcguirewoods.com.

About Skyway Capital Markets
Founded in 2002, Skyway Capital Markets is a nationwide, market-leading, award winning investment banking firm that works with middle market companies, public and private, to deliver customized financial advisory services. The investment banking team has raised more than $3 billion in public and private investment banking transactions. The managing broker-deal group facilitates the entire broker dealer process from initial due-diligence to distribution, utilizing a robust platform. Skyway Capital Markets is headquartered in Tampa, Florida and is a member of FINRA and SIPC. For additional information, please visit skywaycapitalmarkets.com.

Michael Shein
Chartwell Investments
+1 212.521.5503
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