Eastport Holdings is SouthWorth’s investment platform in the advertising space. Eastport offers a full suite of advertising services including strategy, creative, planning, and execution for everything from print to digital, for industries ranging to retail to healthcare.
Today there are 17 operating agencies inside Eastport and represent the genesis of our “House of Brands” concept. Eastport was built with the strategy of enabling our portfolio companies to “Say Yes to the Customer”.
Fremont-Wright is a diversified platform of surveying, engineering, and architecture firms. Fremont-Wright’s operating companies offer services including land and aerial surveying, civil, structural, and environmental engineering, and many other specialties.
Fremont-Wright is organized according to SouthWorth’s preferred holding company structure of the “House of Brands” concept and identifying acquisitions that enable our portfolio companies to “Say Yes to the Customer”.
Ascension Property Services
Headquartered in Memphis, TN
This investment thesis is centered around building services. The focus will primarily be commercial, but there will be a municipal and multi-family residential component to the customer base. Services will include coatings, HVAC maintenance and installation, electric and plumbing.
Ascension will be organized according to SouthWorth’s preferred holding company structure of the “House of Brands” concept and identifying acquisitions that enable our portfolio companies to “Say Yes to the Customer”.
Vero Business Capital is SouthWorth’s investment platform in the specialty finance industry. Vero factors accounts receivable for companies in the transportation industry.
Vero has established a nice in the industry via Flexible, Fast Funding Options, Back-Office Support, and a proprietary Client Portal enabling clients to manage their business and have 24/7 access to cash.
Online Tech Stores buys and distributes new replacement cartridges for printers and copiers through wholesale and online retail at suppliesoutlet.com.
Online Tech Stores was acquired by Blackford Capital in February 2018.
Along with management, SouthWorth identified it was more efficient to open regional distribution facilities than it was to acquire businesses. After opening 4 facilities and exponential growth in the company over 4 years, SouthWorth managed the sell-side process in the divestiture to Blackford. SouthWorth retained a board seat and a minority equity stake in the company.
City Gear is a footwear and apparel retailer, operating over 120 stores and an online store. The major brands are Nike, Jordan, Levi’s, and adidas.
Hibbett Sports acquired City Gear in November of 2018.
Through the investment timeline, SouthWorth led 3 transactions on behalf of City Gear and arranged for bank facilities to accommodate an annual 10% store count growth in addition to directing the sell-side process to Hibbett.