Eastport Holdings is SouthWorth’s investment platform in the advertising industry. Since 2011, SCM has completed 21 acquisitions on behalf of Eastport Holdings. In this time, Eastport has never lost a client or key employee due to an acquisition.
Eastport represents the genesis of our “House of Brands” concept and was built with the strategy of enabling our portfolio companies to “Say Yes to the Customer”.
Fremont-Wright is a diversified platform of engineering, architecture, and surveying firms. Fremont-Wright’s operating companies offer services civil and structural engineering, architecture, master planning, and design, as well as land and aerial surveying.
Fremont-Wright is also structured as a “House of Brands” with a focus on enabling our operating companies to “Say Yes to the Customer”.
Ascension Property Services
Headquartered in Memphis, TN
Ascension Property Services is SouthWorth’s investment in the building services space. The Ascension operating companies offer a variety of building services to commercial, industrial, municipal, and multi-family customers, including electric, HVAC, and painting.
Founded in 2019, Ascension is aggressively pursuing acquisition opportunities as it continues to develop the “House of Brands”.
River Horse Logistics is a diversified platform of logistics companies. The operating companies in this investment offer a variety of 3PL services including LTL and full truckload, cross-docking, fulfillment, warehousing, and freight brokerage.
Founded in 2016, River Horse operates a “House of Brands” primarily serving customers from the West Coast to the MidWest.
Headquartered in Memphis, TN
TruWorth Rentals is an investment focused on rent-to-own portable buildings. TruWorth owns and controls a portfolio of rental contracts and is invested in a manufacturer to whom TruWorth provides strategic and financial guidance.
TruWorth was founded in 2019 and is currently acquiring contracts across the central and southern United States.
City Gear is a footwear and apparel retailer, featuring major brands such as Nike, Jordan, and adidas. As of 2018, City Gear was operating nearly 130 stores across the Southern and Central US.
Hibbett Sports acquired City Gear in November 2018. Hibbett Sports is a publicly traded retailer operating over 1300 stores in the US, has a similar physical footprint, and is one of Nike’s preferred retail partners.
Through the investment timeline, SouthWorth led 3 transactions on behalf of City Gear, arranged for bank facilities to accommodate an annual 10% store count growth, and directed the sell-side process to Hibbett.
Online Tech Stores is a wholesale distributor and online retailer of compatible imaging supplies and accessories, including laser printer toner & ink cartridges, toner, ribbons and thermal fax consumables.
Blackford Capital, a private equity firm from Grand Rapids, MI, with extensive industry experience purchased OTS in an asset purchase in February 2018.
SouthWorth assisted OTS with analysis & capital in expanding from the original Reno & Memphis facilities in order to gain faster distribution at lower costs to key areas by opening 3 additional distribution centers and managed the sell-side process to Blackford.
Vero Business Capital is a specialty finance company, factoring accounts receivables for companies in the transportation industry.
Love’s Financial, a member of the Love’s Family of Companies, acquired Vero in July 2020. Love’s is a nationwide network of travel stops. Through its financial services company, Love’s provides freight factoring solutions with added services such as fuel and tire discounts.
SouthWorth acquired Vero in August of 2016, overhauled the management team, replaced the accounting & operating systems with an integrated solution, re-financed the business, and acquired Foley Business Capital, before selling to Love’s.