Quilvest Private Equity is weighing options for Command Alkon, a construction software and supply chain provider, three sources familiar with the process told Buyouts.
William Blair will be advising Command Alkon on the potential sale, the people said.
Quilvest Private Equity, the PE arm of global asset manager Quilvest Group, may kick off the sale process as early as late November or December, one source familiar with the company said.
However, according to another source, Command Alkon is still considering options, which can include a potential sale or refinancing. The firm may start the process in 2020, the person said.
Quilvest has been an investor in the company for 14 years and is not in a rush to pursue an exit, the source added.
Command Alkon, of Birmingham, Alabama, is a supply chain software provider for the construction industry. The company’s services include sales and automation, dispatch and logistics, direct materials management, trucking and telematics, among others.
Command Alkon generated approximately $120 million in annual revenue and $25 million Ebitda, the first source said. The sale would value the company between $375 million and $600 million, two people said.
Quilvest Private Equity invested in the company in June 2005.
In 2017, Ares Management’s Credit Group issued a first lien credit facility and second lien term loan to support refinancing of Command Alkon’s capital structure.
The size of the refinancing was not announced. It’s unclear what kind of distribution Ares will receive as part of the company’s sale.
Quilvest Private Equity, based in New York City, is an arm of the global asset manager Quilvest Group, which has a presence in Europe, the Americas, Asia and the Middle East, with approximately $36 billion in assets under management.
The private equity business of Quilvest has invested approximately $5 billion in more than 300 private equity and real estate funds as well as in 150 direct investments.
Quilvest Group, started by the Bemberg family in 1888, is still owned by a number of individual shareholders who are descendants of the Bemberg family. While they are not involved in management or investment decisions of the firm, the shareholders are represented on the board of directors and work with the firm’s management to set long-term strategic decisions, according to the firm’s website.
Quilvest Private Equity and Command Alkon did not return Buyouts’ requests for comment. William Blair declined to comment.
Action Item: See Quilvest’s form ADV.