McGuireWoods served as legal adviser to Charlotte private equity firm Summit Park in its recapitalization of Exacta Land Surveyors LLC, a leading provider of land surveys and field management services. Terms of the deal were not disclosed.
Exacta operates in six states and provides vendor management services to help customers procure surveys outside of its geographic footprint. Summit Park’s investment will enable Exacta to optimize its operational processes, increase existing market penetration, expand geographically and accelerate growth.
A multipractice team led by lawyers from McGuireWoods’ M&A and Corporate Transactions Department represented Summit Park, while consultants from the firm’s public affairs arm, McGuireWoods Consulting, assisted on state regulatory matters. Stellus Capital provided the debt financing for the transaction.
This marks Summit Park’s second investment from its Summit Park III fund, which closed in 2018 with $245 million in commitments. McGuireWoods also advised Summit Park on its initial investment from the fund, a recapitalization of Freedom Electronics LLC, a provider of aftermarket electronic components for fuel dispensing and point-of-sale systems.
Charlotte partner H. Ramsey White III led the firm’s deal team, which included Charlotte counsel Curtis Griner and Dallas associate Samuel Neece. McGuireWoods Consulting senior vice president Kyle Barry and vice president James Sherwood in Springfield, Illinois, and senior vice president Sean Stafford in Tallahassee, Florida, also assisted.
McGuireWoods ranked among the top 10 law firms for middle-market private equity deals in Bloomberg’s 2018 league tables. Mergers & Acquisitions magazine named McGuireWoods “Law Firm of the Year” in its Mid-Market M&A Awards, honoring the firm for the growth of its deal work and for innovative, client-focused private equity initiatives.