OnPoint Group Continues Focus on Critical Facility Services Sector with Sale of TFS
15 Julio 2024 - 12:57PM
Business Wire
OnPoint Group Announces Sale of Material
Handling Fleet Management Business to Southfield Capital
OnPoint Group (OnPoint) today announced that it has completed
the sale of its material handling fleet management business, TFS
Ltd. (TFS), to Southfield Capital (Southfield). The sale of TFS
follows OnPoint’s previously announced sale of its power management
business, Concentric, which was completed in October 2023. Together
with the Concentric sale, the sale of TFS reflects OnPoint’s
strategy to focus on its core facility management business through
its companies Miner and TrueSource. These companies have deep
expertise in the dock and door business and a longstanding
commitment to providing distributors, retailers and other
commercial properties with the critical facility services they need
to boost productivity, maintain safety and drive cost-savings.
Tom Cox, Chief Executive Officer of OnPoint, said: “I am
thrilled for the TFS team. They have a unique value proposition,
and Southfield is the perfect partner to support them in their next
phase of growth. This transaction will further enable OnPoint to
focus on its core customers’ needs connected to critical facility
services and core dock and door products. This step forward
supports that mission as we hone in on what our partners need most
from OnPoint when it comes to critical services.”
Financial terms of the agreement are undisclosed. Baird served
as lead financial advisor to TFS and OnPoint. White & Case LLP
served as legal counsel to TFS and OnPoint.
About OnPoint Group
OnPoint Group is the only national brand independent service and
equipment provider supporting manufacturers, retailers and
distributors for all of their critical facility maintenance needs.
Divisions include Miner and TrueSource, specializing in docks,
doors and other critical facility maintenance needs. Headquartered
in Perrysburg, OH, OnPoint Group’s more than 1,800 industry
professionals and 40,000 service affiliates support system-wide
improvements, total cost control, safety, productivity and risk
mitigation through custom engineered solutions and data-driven
decisions. For more information, visit www.onpointgroup.com.
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OnPoint Group, Suki Altamirano, suki@lexingtonpr.com