Brightstar Capital Partners Closes Fund II at $1.27 Billion Hard Cap

NEW YORK, April 15, 2021 – Brightstar Capital Partners, a private equity firm focused on partnering with families, founders, entrepreneurs, and management teams, announced today that it has successfully closed its second flagship fund at its hard cap, with total commitments of approximately $1.27 billion, inclusive of approximately $60 million from the general partner. Brightstar Capital Partners Fund II, LP (“Fund II”) marks the firm’s largest fund to date, having surpassed its $1.0 billion target. The firm additionally raised approximately $190 million from limited partners for co-investments alongside Fund II.

Founded in 2015 by Andrew Weinberg, Brightstar’s investment strategy is focused on control-oriented investments in North American middle market companies. The firm invests in closely held or family-owned businesses where it drives significant value by leveraging the operating and investment experience of its team as well as its extensive relationship networks. The firm has already deployed capital from Fund II in two platform investments – Brightstar Corp. and Amerit Fleet Solutions. Since its founding, Brightstar has completed 22 transactions and its portfolio companies employ over 11,000 people and generate aggregate annual revenue of over $6.0 billion.

“It has been an extraordinary time in so many ways and we are truly grateful for the support we received from new and existing investors during a period of tremendous uncertainty,” said Andrew Weinberg, Brightstar’s CEO and Managing Partner. “We will continue to focus on our ‘Us and Us’ model of investing, proprietarily sourcing opportunities with families, founders, entrepreneurs and management teams, ensuring that our principles align and rolling up our sleeves to add value.”

With the closing of Fund II, Brightstar has raised a total of $2.3 billion of committed capital from a diverse set of institutional investors including corporate and government-sponsored pension funds, sovereign wealth funds, family offices, endowments and foundations and insurance companies.

“As stewards of their capital, we appreciate the confidence our diverse base of investors has in the Brightstar team and our vision,” said Renee Noto, Brightstar’s Partner and President. “In addition to doubling our number of offices by adding locations in Nashville, Orange County and Palm Beach, we recently brought on 12 impressive new colleagues, bringing our total to more than 40 employees across the firm. Our entire team continues to perform admirably amid the COVID-19 pandemic.”

Eaton Partners served as the exclusive placement agent and Simpson Thacher & Bartlett LLP served as legal counsel.

About Brightstar Capital Partners

Brightstar Capital Partners is a middle market private equity firm focused on partnering with exceptional families, founders, entrepreneurs and management teams where the firm is ideally positioned to drive value creation. Brightstar employs an operationally intensive approach that leverages its extensive experience and relationship network to help companies reach their full potential. For more information please visit www.brightstarcp.com.

 

MEDIA CONTACTS:

Doug Allen/Zach Kouwe
Dukas Linden Public Relations
brightstar@dplr.com
646-808-3665

We Need More Entrepreneurs… And New Ways To Help Them Succeed

By Raul Deju, Ph.D.

Partner, Brightstar Capital Partners

It is widely recognized that entrepreneurs – those highly motivated individuals who dream big, see opportunities that others miss, and aren’t afraid to risk everything to succeed – have an outsized impact on the United States and world economies. The U.S. Small Business Administration estimates that our nation’s small businesses employ more than 61 million people in total (47.1% of all employees) and created 1.9 million net jobs in 2019 alone. Entrepreneurs are also leaders in launching innovative products, services and solutions that change the way we all work, shop, communicate, and live.

My passion for entrepreneurship comes from my own personal experience. In early 1960, at the age of 13, I waved goodbye to my parents in Havana and flew to Miami as part of “Operación Pedro Pan”, a program that sponsored about 14,000 unaccompanied Cuban minors to emigrate to the U.S. in the early 60’s. After 10 months in the US, I finished my high school, exhibiting the drive often characteristic of immigrants, I earned degrees in Mathematics and Physics, and a Ph.D. in Geosciences (Hydrology). I went on to start and grow businesses in the fields of waste management and technology, sit on the boards of several middle-market companies, and have been a partner in investment firms that have collectively channeled over the years over a billion dollars to numerous promising entrepreneurial ventures. In between various jobs I managed to author 7 books.

Despite the vital importance of entrepreneurship, becoming a successful entrepreneur business founder has gotten much tougher in the years since I embarked on my own journey. Markets are now global, competition is fierce, and the capital required to fund talent, technology and a scalable infrastructure has grown exponentially. It’s no wonder that reports from the U.S. Census Bureau and others show new business starts are lagging – and it will be our society’s and our economy’s loss if we don’t do something now to reverse this trend.

This trend is most unfortunate, because our society needs entrepreneurs now more than ever. Covid-19 has erased millions of jobs and driven virtually every organization to rethink its legacy operations. The rapidly accelerating digital transformation of business demands innovative solutions. And the economic disparities in society cry out for a more equitable distribution of opportunity. For these and many other reasons, we must cultivate entrepreneurs and encourage the creative vitality and economic potential that they represent.

Creating a New Generation of Principled Entrepreneurs

I’m proud to now be launching a new, broad-based effort to educate, inspire and equip the next generation of entrepreneurs to pursue their dreams and grow successful businesses. This is a collaboration with business leaders who are themselves hugely successful entrepreneurs – including Sun Microsystems founder Scott McNealy. We have created a comprehensive 8-module interactive course called “How to Become a Successful Entrepreneur”. It is free and open to all who are interested. Hosted on the Curriki learning platform, the online course consists of modules covering such indispensable topics as creating a strategy, building a business plan, assembling the management team, developing product and service excellence, financial planning, and finding sources of capital.

Raul Deju Course

 

Most importantly, the course opens with a module on how to become a “principled entrepreneur.” I believe the most successful companies are built on a solid foundation of core values. By operating with integrity and contributing to society, entrepreneurs can help ensure the relevance, resilience and durability of their businesses.

The online entrepreneurship course evolved from a more traditional classroom-based program that I previously taught at the Institute of Entrepreneurial Leadership at John F. Kennedy University in California. Over 200 students graduated from the program, and more than 150 of them have gone on to build their own companies – some of which have reached annual revenues in the hundreds of millions of dollars. One of my students, John Sanchez, built, grew and exited successfully from two companies. Tom Deierlein, another student and a graduate of West Point, created ThunderCat Technology, which is listed in the Washington Technology 100 and has grown dramatically over the years. Other students focused on creating companies in podcast creation, telecom services, construction, and engineering. Recently one of my students, Phyllis Newhouse, who founded a successful company Xtreme Solutions, announced the launch of Athena Technology. This successful African American entrepreneur will lead an all-female board and finance her new company through a Special Purpose Acquisition Company (SPAC). The goal in creating this new online course, and making it widely accessible for free, is to multiply that pattern of success many times over. We are partnering with both leading and under-served colleges and universities, community colleges, veterans’ organizations, and the Sigma Nu Tau Entrepreneurship Honor Society.

Ultimately, I am thrilled to give back to the country that has given me so much. While I was able to chart my own course to career success, my goal in founding the Deju Institute of Entrepreneurial Leadership’s Online Program is to give today’s entrepreneurs the tools to translate their vision and ambition into thriving businesses that can create economic well-being for their founders, employees and society at-large.

For additional information contact us in Curriki online (https://www.curriki.org ) and yes our course is totally free.

 

MEDIA CONTACTS:

Doug Allen/Zach Kouwe
Dukas Linden Public Relations
brightstar@dplr.com
212-704-7385

How to Partner with a Private Equity Firm – Start with a Mirror and Patience

Andrew Weinberg, Founder, Managing Partner & CEO of Brightstar Capital Partners contributes to Forbes.com

To see this article in Forbes, please click here.

Most owners of successful middle market businesses will eventually have a conversation with potential private equity investors. We recently polled some 50 family business owners, and 87% said they would consider bringing new owners into their business in the next five years.  Nearly half will do so to fund the growth potential they see, nearly a third to provide liquidity for themselves and existing family owners, and just under a quarter to bring in outside expertise.

In fact, deals for companies with annual revenue between $50 million and $200 million have been a major – and growing – feature of the private equity landscape. In the US, the number of middle market deals grew at an 11% annual rate from 2010 to 2019, and even during the pandemic, nearly 2,000 deals closed in the first three quarters of 2020, according to Pitchbook

But for any partnership with a private equity firm to succeed, it is imperative that family business owners know their motivations and goals for selling the business, look in the mirror, and have patience to navigate the process.

Brightstar Capital Partners poll business owners

Here’s how owners should consider approaching a conversation with a private equity firm. The first step involves looking in the mirror, in the figurative sense. One owner of a successful middle market business, who ultimately sold it to a private equity firm, explains the internal “mirror” discussion like this: “If you want to sell the business because you want to enjoy your life and buy a house or a boat, that’s cool.  You’ve earned it.  If you truly need or want growth capital but love the business and want to stay active in that business, that’s awesome, too. No matter what, you have got to find the right partner, because the worst thing that you can do is bring in a partner and not reach your personal success goals, whatever those are.”

As you look in the mirror, it’s important to have a good initial list of questions to start the internal conversation:

  • What are your personal goals in selling the business?
  • Is price your primary consideration?
  • How much involvement do you want in the business post-sale?
  • Are you comfortable with ceding control of the business?
  • How can you optimize both the sale of the business and the subsequent wealth event?
  • What resources will the business require from a new PE partner, beyond capital alone, to grow and thrive?

Only the owner can give the answers to those questions, which will: a) determine if a partnership with a private equity firm is the right move, and b) define the boundaries for any such partnership. 

The answers to those questions will also help determine which of the many potential private equity partner firms align with the owner’s goals.  Private equity is not a monolith; firms have different skill sets and investment theses. A passive investor might offer capital and otherwise be hands-off, while other firms, like ours at Brightstar Capital Partners, are hands-on operational partners who roll up their sleeves and contribute knowledge and perspective. A firm that will outbid others aggressively on price will also need to be more aggressive in its financial engineering of the company they buy.

In our survey, over half of the family business owners viewed short-term financial motivation as a concern with private equity, and 45% worried that private equity firms would not adequately respect the legacy of the business. Those are legitimate concerns, and in my view can only be addressed by building a trusted and mutually respectful relationship.

For this reason, patience is the next most important tool in selling a business.  Finding the right partner, as in any relationship, takes time. I’ve had many experiences where we finally reached an agreement years after initial conversations. On average, business owners should expect to spend about three years from thinking about selling their company to the day when the deal is done.

But patience is not procrastination. There are numerous things, such as third-party audits, or a review of the company’s competitive positioning and capital needs, that an owner should do as soon as the thought of selling enters one’s mind.  It’s important to think about the needs of the business in such a way that others would want to buy it – but that it would also thrive if you decided to keep it. As one of our partners likes to say, “We all clean our houses before a party and maybe even get the outdoor ice maker working again and that kind of thing. And you think to yourself, ‘Why didn’t I do that six months ago?’ It’s the same thing with your company.  Don’t wait till you have the party, go ahead and get your house cleaned and painted up now. Prepare the company, keep in good order as if you were getting ready to show it to a buyer.  And that way you can enjoy it. Whether you own it or intend to sell it.”

In this way, the business owner will always keep the big picture in focus and not lose control throughout the process, even if it leads to a decision not to sell.  And this is how it should be — for all the headlines about private equity, the true “masters of the universe” are the founders, families and entrepreneurs who build successful companies.  To forget this is to deny economic reality.

MEDIA CONTACTS:

Doug Allen/Zach Kouwe
Dukas Linden Public Relations
brightstar@dplr.com
212-704-7385

QualTek Acquires Fiber Network Solutions, A Premier Provider of Fiber Optic and Electrical Services to the Telecom and Renewable Industries

Acquisition Enhances QualTek’s Service Offerings and Expands Geographic Footprint

Blue Bell, PA., January 27,2021QualTek, one of the largest providers of turnkey telecommunications solutions, including engineering, installation, fulfillment, and program management to the North American telecommunications and power sectors, announced today that is has acquired Fiber Network Solutions, Inc (“FNS” or the “Company”). Terms of the transactions were not disclosed.

FNS, established in 2001 and based in Tyler, TX, is a premier full-service provider of fiber optic and electrical services, focusing primarily on renewable energy projects. The Company provides fiber optic terminations, OTDR and power meter testing, fusion splicing, fiber placement, extensive fiber optic and copper infrastructure installation, cable jetting, boring and trenching, industry specific maintenance, and design and material procurement.

“We are excited to have FNS join our team at QualTek. Their vast experience in renewable energy solutions and fiber deployment make this a highly strategic acquisition for our company,” said Scott Hisey, CEO of QualTek. “We look forward to expanding their impressive service offerings to customers throughout the country.”

“QualTek presents a fantastic opportunity for FNS to continue its growth. We look forward to working with Scott and his team as they build their services in the growing renewable energy industry,” said Tim Hooker, CEO of FNS. “Leveraging our combined resources and services will also allow us to move forward and expand our customer offerings to include wireline services, which are an essential driver of 5G growth.”

This marks QualTek’s 12th acquisition since 2012 as it broadens service offerings to customers throughout the United States and Canada.

About QualTek

QualTek is one of the largest providers of turnkey services to the North American telecommunications, infrastructure and power industries. Through its more than 5,000 dedicated professionals, QualTek provides its partners and clients with a range of services including engineering, installation, disaster recovery, project management, customer fulfilment, communications upgrades and infrastructure improvements. QualTek is a premier partner to some of the largest companies in the wireless, wireline and power sectors. For more information please visit www.qualtekservices.com.

About FNS

Based in Tyler, TX, FNS is a premier full-service provider for all fiber optic and electrical services to a wide array of markets. The Company provides fiber optic terminations, OTDR and power meter testing, fusion splicing, fiber placement, extensive fiber optic and copper infrastructure installation, cable jetting, boring and trenching, industry specific maintenance, and design and material procurement. For more information please visit https://www.fnsolutions.net/.

MEDIA CONTACT:

Gianna Lucchesi
glucchesi@qualtekservices.com

Brightstar Corp., a BCP Portfolio Company, Adds Premium Tech Support Capabilities with LucidCX Acquisition

Continued global investment and service expansion bolster Brightstar’s device protection offering and enhance overall customer experience

DALLAS, TX, Jan. 19, 2021Brightstar Corp. (Brightstar), the global leader of end-to-end device lifecycle management solutions, today announced it has acquired LucidCX, a provider of premier customer service management software and services. The acquisition follows a period of significant global investment for Brightstar and adds premium technical support capabilities to its expanding service portfolio.

LucidCX provides industry-leading tools to support customers through the entire lifecycle, from onboarding to repairs, returns and upgrades, across multiple channels including digital, retail, call centers and head offices. Its clients include global mobile carriers, device manufacturers, world-class banks, manufacturers and retail giants. Brightstar will leverage LucidCX’s award-winning software and services to help its customers deliver world-class customer service and drive down the cost of customer care. Brightstar will simultaneously help Lucid scale its operations and bring its services to a new host of customers.

“Brightstar is committed to delivering holistic solutions for today’s technology lifecycle. LucidCX builds additional capabilities into Brightstar’s services, supporting our Device Protection and wider smart technology services, ensuring we deliver exceptional value and capabilities to our customers,” said Rod Millar, CEO, Brightstar. “The addition of LucidCX will enable Brightstar to deliver the best experience to consumers as it continues to drive innovation and value throughout the device protection landscape. We are excited to bring LucidCX’s technology, knowledge and capabilities to our clients to drive significant value to them and consumers.”

“For over 16 years, LucidCX has been recognized for our tradition of innovation, exceptional customer care and long-term relationships with top global brands, and we are proud to become a key part of Brightstar and join a team that has been leaders in the mobile device industry for over two decades” said Matt Dyson, CEO of LucidCX. “Together we can further transform the customer journey, and we are excited to tap into Brightstar’s resources and reach to scale our offering and support more global customers.”

About Brightstar Corp.

Brightstar Corp. is a global leader of end-to-end device lifecycle management solutions and the world’s fastest growing device protection provider. We work with carrier, retail and enterprise customers in approximately 50 countries, touching every stage of a device’s lifecycle, from when it’s manufactured to the moment it’s time to trade it in and re-market it. To learn more about Brightstar Corp., please visit www.brightstar.com.

About LucidCX

LucidCX provides omni-channel knowledgebases, diagnostics and process automation services ensure that no matter where or what a customer asks, we’re there to help. Trusted by world-class banks, network operators, insurers, manufacturers and retailers, our award-winning services aim to deliver premium customer support while significantly reducing costs for our partners. To learn more about LucidCX, please visit www.lucidcx.com.

MEDIA CONTACTS:

For Brightstar Capital Partners
Doug Allen/Zach Kouwe
Dukas Linden Public Relations
brightstar@dplr.com
212-704-7385

For Brightstar Corp.
Articulate Communications
brightstar@articulatecomms.com

Letter from Founder & CEO Andrew Weinberg

Brightstar Family,

I hope that you and yours have enjoyed a healthy, safe and joyous holiday season.

I want to share some brief thoughts with you as we enter the new year and close the book on an unprecedented 2020. Last year was one for the history books with a true black swan event shutting large parts of the global economy and isolating people from their families, friends and co-workers. But, despite the challenges of working amid a global pandemic, 2020 was a milestone year for Brightstar Capital Partners. We’ve shown substantial growth as a firm across a number of fronts, and our team’s resiliency and ability to use our collective intellectual capital to support and continue to grow our portfolio companies has been extraordinary.

Transactions: While adjusting to a remote environment, we completed two platform acquisitions and two add-on acquisitions for our existing portfolio companies, bringing the total transactions completed since our inception to 21. Our team sprinted through 2020’s finish line, closing two acquisitions in the final weeks of the year. We acquired Amerit Fleet Solutions as our second platform investment in Fund II, and Bobcat Southwest as an add-on acquisition that bolsters our InfraServ platform. You can read about these acquisitions here and here. Our deal pipeline is robust as we move forward.

Assets Under Management: We have raised approximately $2.0 billion of committed capital since inception, including exceeding our target with more than $1.0 billion raised for Brightstar Capital Partners Fund II.

Offices: In the past 12 months, Brightstar enhanced our distributed model by opening permanent offices in Palm Beach, FL, Nashville, TN, and Orange County, CA to support our existing headquarters in New York and our offices in St. Louis and Denver. We also set up a temporary office in Greenwich, CT.

Human Talent: 10 impressive new colleagues came on board as Brightstar expanded to more than 40 employees across the firm.

To start 2021, Michael Drexler joined us as a Managing Director and Chief Strategy Officer based out of our Palm Beach office. In this new role, Michael will work closely with the entire Brightstar team, advising the firm on its long-term growth strategy. He brings a wealth of experience from his prior role as Managing Director and Global Head of Strategy and Business Transformation at J.P. Morgan Asset Management.

In June, Michael Singer joined us as a Managing Director and serves on the board of Amerit Fleet Solutions and Global Resale. In his prior roles, Michael led and was the executive sponsor for numerous acquisitions, their respective integrations and portfolio sale processes. He most recently was the Chief Strategy Officer for Brightstar Corporation, where he also served on the boards of several of its portfolio companies.

Jesse Rosenfeld joined Brightstar to kick off 2021 as a Principal focusing on fundraising and Investor Relations. Jesse has nearly two decades of experience in the industry, and comes to us from Riva Ridge Capital Management, where he led fundraising and investor relations efforts for a private investment firm specializing in complex, overlooked or misunderstood situations in the leveraged company universe.

In addition to adding new colleagues, we are happy to announce several promotions. Jonathan Quigley, Managing Director, will add the title of Chief Network Officer. His expanded responsibilities include overseeing Brightstar’s deal sourcing strategy. Christy Lukach, Peter Smith and Craig Thomas were all promoted to Principal from Vice President, and Maggie Zerman was promoted to Vice President from Fund Controller.

We’re expecting even more success in 2021 as we continue to roll up our sleeves, bring on new partners, forge new and closer relationships and lay the groundwork for a post-COVID recovery. I want to thank all of you for your continued support.

Andrew Weinberg
Founder & CEO

MEDIA CONTACTS:

Doug Allen/Zach Kouwe
Dukas Linden Public Relations
brightstar@dplr.com
212-704-7385

InfraServ Expands to West Coast with Gateway Dealer Network’s Acquisition of Bobcat Southwest

Combined company will operate 25 locations across the Midwest, Southeastern and Western United States

St. Louis, MO and San Diego, CA, December 29, 2020 – InfraServ US, LLC, an industrial equipment dealership and services platform, announced today that it has acquired the Bobcat Southwest dealership group. The acquisition will be completed through InfraServ’s subsidiary, Gateway Dealer Network, a leading provider of Bobcat® and Doosan®-branded industrial equipment sales, parts and service, and rental services. Terms of the transaction were not disclosed.

Bobcat Southwest, based in San Diego, CA, is a full-service Bobcat dealership group offering new and used sales, parts and service, and rentals across six locations in Southern California and Nevada. With the closing of the transaction, the combined company will operate 25 locations spanning 10 states across the Midwest, Southeastern and Western United States.

“Reputation is everything in our industry, and Bobcat Southwest has a reputation for providing premiere service to its growing list of customers. We are thrilled to expand our geographic footprint and continue to earn our customers’ trust by supplying high-quality new and rental equipment as well as parts and service,” said Mike Allen, CEO of Gateway Dealer Network.

“We look forward to a bright future with the Gateway Dealer Network team. They share our consistent commitment to customers, culture and valued employees, and we know that we will reach great heights by leveraging our combined services, knowledgeable salespeople and dedicated factory trained professional technicians,” said Rich Fuller, Founder of Bobcat Southwest.

About Gateway Dealer Network

Gateway Dealer Network, founded in 1990 and based in St. Louis, MO, operates principally as a provider of Bobcat® and Doosan®-branded industrial equipment sales, parts and service, and rental services across its footprint of dealership locations spanning 8 states. For more information, please visit www.gatewaydealer.com.

About Brightstar Capital Partners

Bobcat Southwest is the dealer of choice for compact and construction equipment in Southern California and Nevada. With six locations and an extensive inventory of new and used equipment, and factory trained professionals in our parts, service and equipment rental departments, we are committed to keeping you working. For more information, please visit www.bobcatsouthwest.com.

MEDIA CONTACTS:

Doug Allen/Zach Kouwe
Dukas Linden Public Relations
brightstar@dplr.com
212-704-7385

Brightstar Capital Partners Acquires Majority Stake in Amerit Fleet Solutions, a Leading National Provider of Fleet Maintenance and Repair Services

Expansion Will Help Company Provide Services to Support Mission Critical Infrastructure for Customers Across the United States

New York, NY and Walnut Creek, CA, December 28, 2020Brightstar Capital Partners (“BCP”), a private equity firm focused on partnering with families, founders, entrepreneurs, and management teams, announced today that it has acquired a majority stake in Amerit Fleet Solutions (“Amerit” or the “Company”), in partnership with the Company’s co-founders who lead the senior management team. Terms of the private transaction were not disclosed.

Amerit, headquartered in Walnut Creek, CA, is one of the leading providers of outsourced fleet maintenance across the United States, leveraging its nationwide infrastructure, including mobile maintenance solutions, to provide integrated services to customers wherever they are needed. The Company’s team of highly skilled technicians and managers provide customized service programs to over 150,000 vehicles to improve clients’ fleet uptime, safety, and reliability.

“We are thrilled to partner with Amerit as it continues to provide premium service to blue-chip customers around the country,” said Dr. Raul Deju, Partner at Brightstar. “The Company has earned its trusted reputation in the industry by always putting customers’ needs first, and we are excited to build on that success and aim to reach new heights.”

“Amerit will remain focused on ensuring the maximum uptime, safety and reliability of our customers’ individual fleets,” said Dan Williams, Co-founder and CEO of Amerit. “Our partnership with Brightstar supplies us with additional resources and relationships to capitalize on the significant growth potential with both new and existing customers across diverse end markets.”

“Since we founded Amerit over a decade ago, the Company has worked hard to become a nationwide leader in fleet maintenance and repair services,” said Amein Punjani, Co-founder and COO of Amerit. “The Brightstar team’s operational expertise in the fleet management and supply chain worlds will enhance our ability to provide our customers with mission critical services and support.”

“Dan and Amein have built an exceptional team, culture and commitment to meet their customers’ needs,” said Matthew Allard, Partner at Brightstar. “Transportation, logistics and the demand for safe, reliable fleets are ever increasing with e-commerce and decentralized business models, and we are excited to partner with Amerit as they continue to capitalize on these megatrends.”

About Amerit Fleet Solutions

Amerit’s trusted and respected team of fleet maintenance professionals leverages a nationwide infrastructure, including mobile maintenance solutions, to provide custom-built maintenance programs to our customers, wherever and whenever they are needed. Our team of highly skilled technicians and managers provide customized maintenance and repair programs to over 150,000 vehicles to improve clients’ fleet uptime, safety, and reliability. Amerit’s comprehensive and innovative service solutions, driven by core values of partnership and integrity, deliver peace-of-mind to customers while keeping their assets on the road anywhere across the country. For more information please go to the company’s website at ameritfleetsolutions.com.

About Brightstar Capital Partners

Brightstar Capital Partners is a middle market private equity firm focused on partnering with exceptional families, founders, entrepreneurs and management teams where the firm is ideally positioned to drive value creation. Brightstar employs an operationally intensive approach that leverages its extensive experience and relationship network to help companies reach their full potential. For more information please visit www.brightstarcp.com.

MEDIA CONTACTS:

For Brightstar:
Doug Allen/Zach Kouwe
Dukas Linden Public Relations
brightstar@dplr.com
212-704-7385

For Amerit:
Karen Vinton
kvinton@ameritfleet.com
415-755-3302

Brightstar Capital Partners Acquires Majority Stake in Amerit Fleet Solutions, a Leading National Provider of Fleet Maintenance and Repair Services

Expansion Will Help Company Provide Services to Support Mission Critical Infrastructure for Customers Across the United States

New York, NY and Walnut Creek, CA, December 28, 2020Brightstar Capital Partners (“BCP”), a private equity firm focused on partnering with families, founders, entrepreneurs, and management teams, announced today that it has acquired a majority stake in Amerit Fleet Solutions (“Amerit” or the “Company”), in partnership with the Company’s co-founders who lead the senior management team. Terms of the private transaction were not disclosed.

Amerit, headquartered in Walnut Creek, CA, is one of the leading providers of outsourced fleet maintenance across the United States, leveraging its nationwide infrastructure, including mobile maintenance solutions, to provide integrated services to customers wherever they are needed. The Company’s team of highly skilled technicians and managers provide customized service programs to over 150,000 vehicles to improve clients’ fleet uptime, safety, and reliability.

“We are thrilled to partner with Amerit as it continues to provide premium service to blue-chip customers around the country,” said Dr. Raul Deju, Partner at Brightstar. “The Company has earned its trusted reputation in the industry by always putting customers’ needs first, and we are excited to build on that success and aim to reach new heights.”

“Amerit will remain focused on ensuring the maximum uptime, safety and reliability of our customers’ individual fleets,” said Dan Williams, Co-founder and CEO of Amerit. “Our partnership with Brightstar supplies us with additional resources and relationships to capitalize on the significant growth potential with both new and existing customers across diverse end markets.”

“Since we founded Amerit over a decade ago, the Company has worked hard to become a nationwide leader in fleet maintenance and repair services,” said Amein Punjani, Co-founder and COO of Amerit. “The Brightstar team’s operational expertise in the fleet management and supply chain worlds will enhance our ability to provide our customers with mission critical services and support.”

“Dan and Amein have built an exceptional team, culture and commitment to meet their customers’ needs,” said Matthew Allard, Partner at Brightstar. “Transportation, logistics and the demand for safe, reliable fleets are ever increasing with e-commerce and decentralized business models, and we are excited to partner with Amerit as they continue to capitalize on these megatrends.”

About Amerit Fleet Solutions

Amerit’s trusted and respected team of fleet maintenance professionals leverages a nationwide infrastructure, including mobile maintenance solutions, to provide custom-built maintenance programs to our customers, wherever and whenever they are needed. Our team of highly skilled technicians and managers provide customized maintenance and repair programs to over 150,000 vehicles to improve clients’ fleet uptime, safety, and reliability. Amerit’s comprehensive and innovative service solutions, driven by core values of partnership and integrity, deliver peace-of-mind to customers while keeping their assets on the road anywhere across the country. For more information please go to the company’s website at ameritfleetsolutions.com.

About Brightstar Capital Partners

Brightstar Capital Partners is a middle market private equity firm focused on partnering with exceptional families, founders, entrepreneurs and management teams where the firm is ideally positioned to drive value creation. Brightstar employs an operationally intensive approach that leverages its extensive experience and relationship network to help companies reach their full potential. For more information please visit www.brightstarcp.com.

MEDIA CONTACTS:

For Brightstar:
Doug Allen/Zach Kouwe
Dukas Linden Public Relations
brightstar@dplr.com
212-704-7385

For Amerit:
Karen Vinton
kvinton@ameritfleet.com
415-755-3302

Renee Noto Named One of the WSJ Women to Watch in Private Equity

NEW YORK, NY, November 17, 2020 — Brightstar Capital Partners is pleased to announce that Partner and President Renee Noto has been named one of the Wall Street Journal’s “Women to Watch in Private Equity.”

Renee was recognized in the fundraising category. The Journal wrote “we highlight top female talent in roles across fundraising, business development and portfolio management in the general-partner capital-formation or limited-partner worlds.”

Renee helps spearhead Brightstar’s fundraising and investor relations. She joined the firm as a partner shortly after its inception in 2015 and three years later was promoted to president. She’s a member of the firm’s Investment Committee and sits on the board of InfraServ, a Brightstar portfolio company.

Brightstar Founder and Managing Partner Andrew Weinberg told The Journal, “Renee is essential to what we do and how we do it, both in our fundraising and our day-to-day internal operations…she’s committed to making each member of our firm better.”

For the Wall Street Journal’s full article, click here (subscription required).

 

Copyright 2020. Brightstar Capital Partners. All rights reserved.

MEDIA CONTACT:

Zach Kouwe
Dukas Linden Public Relations
212-704-7385