Add-On Acquisition Accelerates Persona-Triangle's Growth in Facility Services
BALTIMORE, Md., Jan. 7, 2025 -- Exeter Street Capital Partners ("Exeter"), the private equity affiliate of Patriot Capital Group, today announced that its portfolio company Exeter Image Holdings, LLC ("Persona-Triangle") has acquired Advanced Facility Solutions, LLC ("AFS").
Founded in 2019 and headquartered in Saddle Brook, NJ, AFS has rapidly emerged as a leading national provider of facilities maintenance and construction services for some of the largest brands in the United States. Serving industries such as retail, convenience, storage, healthcare, and education, AFS delivers tailored solutions designed to meet the diverse needs of its clients.
"We are thrilled to welcome Advanced Facility Solutions to our family," said Greg Kulesa, CEO of Persona-Triangle. "AFS is a national, multi-service facility maintenance and construction company known for its passionate team of professionals who drive success and exceptional customer service. The AFS team will greatly expand our ability to serve our core customers' broader facility services requirements, and is strategically accretive to Persona-Triangle as we advance our market leadership in multiple subsectors."
AFS's turnkey solutions include reactive and preventive maintenance services, rollout programs, and large-scale construction projects—available on-demand, 24/7/365. Their streamlined operations and cutting-edge technology provide clients with efficient, proactive, and cost-saving solutions. By combining trade expertise with a focus on consumer-centric environments, AFS empowers property owners and managers to operate their locations economically, efficiently, and effectively. AFS sets itself apart with an unwavering commitment to relationships with clients, employees, partners, as well as the communities they serve.
Together with Persona-Triangle, one of the largest commercial signage providers in the United States, AFS and Persona-Triangle will offer customers tremendous one-stop facility services capabilities covering a wide range of facility requirements. While AFS will continue to serve its respective customers and markets directly under the AFS name, the combined company will leverage the size and scale of Persona-Triangle to accelerate its growth.
"We are thrilled to join forces with the Persona-Triangle team, who bring a tremendous breadth of resources and capabilities we will leverage to increase, accelerate, and improve what we already do for our customers," said Marc Denman, CEO of AFS.
Enterprise Bank and Trust provided senior debt financing for the deal. Three Sixty Seven Advisors acted as the sole M&A advisor to the transaction. Nelson Mullins represented Exeter and Persona-Triangle in the transaction. Harbert Credit Solutions, NewSpring Mezzanine, Northcreek Mezzanine, and members of Persona-Triangle leadership team continue to be investment partners with Exeter in Persona-Triangle.
About Persona-Triangle
Persona-Triangle is a leading national provider of commercial signage, lighting, and facility service solutions. Its turnkey solutions include inhouse design and engineering, site- and permit-planning, start-to-finish project management, state-of-the-art production facilities, and complementary property improvement capabilities which enable Persona-Triangle to support a diverse, blue-chip customer base representing some of the largest globally recognized brands. The Company serves over 200 marquis brands at more than 8,000 locations across North America annually.
Persona-Triangle's is headquartered in Watertown, SD, and in combination with its Triangle division in Baltimore, MD, boasts over 270,000 square feet of combined manufacturing space across 4 factories and employs over 500 people. The Triangle division specializes in custom, architecturally unique, and premium signage for many of North America's most iconic commercial and retail companies, while the Persona division, based in Madison, SD, leverages its dominant market share in hospitality to lead the nation in large format, programmatic signage for the largest brands and franchise operators in the world.
With its strong foundation in commercial signage manufacturing and project management, the Company's fastest growing division is facility services, which includes commercial lighting, facility repairs & maintenance, capital renovation projects, and property-improvement-plans (PIPs). The company is actively growing this division both organically and through acquisitions.
About Exeter Street Capital Partners
Exeter Street Capital Partners is the independent sponsor affiliate of the Patriot Capital Group. We invest in promising small cap companies within the specialty industrial and services sectors, then pursue strategies that can build them into market leaders: national, regional, or sector; and we have a demonstrated track record of success doing so. Exeter has raised and deployed over $1 billion across 11 investments since 2014, and over $400 million since 2021. We form close partnerships with the existing management of growing businesses where our capital, operating resources, financial expertise, strategic insights and professional network can accelerate growth and build long term value. We take a long term, partnership approach to investing, and are under no pre-determined timeline to exit or monetize our investments.
For more information, please visit www.exeterstreetcapital.com.
Contact Information
Samantha Lee
Marketing Director
(415) 310-0330
388354@email4pr.com
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