Predict your next investment

Private Equity
carouselcapital.com

See what CB Insights has to offer

Investments

16

Portfolio Exits

15

Funds

8

Partners & Customers

3

Service Providers

2

About Carousel Capital

Carousel Capital is a private equity investment firm that invests in companies headquartered in the Southeastern United States. Carousel Capital's experience in forging partnerships with management teams in many different circumstances allows the firm to demonstrate creativity in finding the right capital solutions for companies. Having raised over $750 million across four private equity funds since its founding, Carousel Capital has the capital and expertise to continue to be the best possible choice for management teams across the region seeking a private equity solution.

Carousel Capital Headquarter Location

201 North Tryon Street Suite 2450

Charlotte, North Carolina, 28202,

United States

704-372-2040

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest Carousel Capital News

Harris Williams Advises Transflo on its Strategic Investment from Bregal Sagemount

Dec 14, 2021

December 14, 2021 10:03 AM Eastern Standard Time RICHMOND, Va.--( BUSINESS WIRE )-- Harris Williams , a global investment bank specializing in M&A advisory services, announces it advised Transflo, a portfolio company of True Wind Capital (True Wind) and Carousel Capital (Carousel), on its strategic investment from Bregal Sagemount (Sagemount). Transflo is a leading provider of mobile business intelligence and payments facilitation tools to the transportation sector. The transaction was led by Erik Szyndlar , Andy Leed , Brian Titterington , Gunnar Shaw, and Aaron Abel of the Harris Williams Technology Group and Frank Mountcastle and Jeff Kidd of the firm’s Transportation & Logistics (T&L) Group . “Transflo plays a central role in the North American freight transportation industry, having invested significantly in technology and product development to constantly enhance the value it delivers to its growing and diverse customer base,” said Erik Szyndlar, a managing director at Harris Williams. “It was a pleasure working with Transflo management, True Wind and Carousel on this transaction, and we are excited to see what the company accomplishes in partnership with Sagemount.” “Sagemount’s investment in Transflo represents another premium transaction for the firm within the supply chain and logistics technology sector,” added Andy Leed, a director at Harris Williams. “Industry-wide digital transformation initiatives, coupled with an increasing focus on automation and supply chain liquidity are not only driving strong demand for Transflo’s solutions, but also fueling investment activity across the broader market. We expect these long-term trends to continue driving innovation and investment over the next decade.” “Leveraging the collective expertise and experience of the firm’s Technology Group and Transportation & Logistics Group allowed us to effectively tailor the positioning of Transflo, resulting in a successful outcome,” added Frank Mountcastle, a managing director at Harris Williams. Transflo®, a Pegasus TransTech company, is a leading provider of mobile, business intelligence and payments facilitation software to the transportation industry. The company’s cloud‐based technologies digitize nearly 800 million shipping documents each year with over $100 billion in freight spend flowing through Transflo’s platform. Organizations throughout the Transflo client and partner network use the solution suite and digital platforms to increase efficiency, improve cash flow and reduce costs. Headquartered in Tampa, Florida, Transflo is setting the pace for innovation in transportation software. True Wind is a San Francisco-based private equity firm focused on investing in leading technology companies. True Wind has a broad investing mandate, with deep industry expertise across software, data analytics, tech-enabled services, internet, financial technology and hardware. Founded in 2015, True Wind has completed 10 platform investments and 20 add-on acquisitions. Based in Charlotte, North Carolina, Carousel is a private investment firm that invests in companies located in the Southeastern United States. Carousel’s investor base includes institutional investors and an elite group of more than 100 current and former CEOs with deep connections in the region. Since its inception in 1996, Carousel has invested in 48 companies primarily in three targeted growth sectors: business services, consumer services and healthcare services. Sagemount is a growth focused private capital firm with $4 billion of committed capital. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Sagemount invests $40 million to $200 million per transaction into targeted sectors including software, digital infrastructure, healthcare IT/services, business and consumer services, and financial technology/specialty finance. Harris Williams , an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC). The Harris Williams Technology Group advises leading private and public companies, founders, and private equity, growth equity and venture capital firms on mergers and acquisitions and capital-raising transactions worldwide. The Technology Group has deep domain expertise in software and technology-enabled services and dedicated focus areas across a variety of vertical software applications and end markets. For more information on the Technology Group and its recent transactions, visit the Technology Group’s section of the Harris Williams website. The Harris Williams Transportation & Logistics Group serves companies in a broad range of attractive niches, including third-party logistics (3PL), automotive and heavy-duty vehicle, transportation equipment, and truck, rail, marine and air transportation. For more information on the firm’s T&L Group and other recent transactions, visit the T&L Group’s section of the Harris Williams website. Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com ). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business. Contacts

Carousel Capital Investments

16 Investments

Carousel Capital has made 16 investments. Their latest investment was in Armstrong Transport Group as part of their Recap on June 6, 2019.

CBI Logo

Carousel Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/18/2019

Recap

Armstrong Transport Group

Yes

1

2/13/2019

Private Equity

HEPACO

Yes

1

6/6/2018

Recap

Huseby

Yes

1

11/29/2017

Private Equity

Subscribe to see more

$99M

Subscribe to see more

10

10/20/2014

Recap

Subscribe to see more

Subscribe to see more

10

Date

6/18/2019

2/13/2019

6/6/2018

11/29/2017

10/20/2014

Round

Recap

Private Equity

Recap

Private Equity

Recap

Company

Armstrong Transport Group

HEPACO

Huseby

Subscribe to see more

Subscribe to see more

Amount

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

1

1

1

10

10

Carousel Capital Portfolio Exits

15 Portfolio Exits

Carousel Capital has 15 portfolio exits. Their latest portfolio exit was Joe Hudson's Collision Center on August 22, 2019.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

8/22/2019

Acq - Fin

3

12/11/2018

Acq - Fin - II

2

6/15/2017

Acq - Fin - III

3

11/21/2016

Acquired - III

Subscribe to see more

Subscribe to see more

10

11/6/2015

Acq - Fin

Subscribe to see more

Subscribe to see more

10

Date

8/22/2019

12/11/2018

6/15/2017

11/21/2016

11/6/2015

Exit

Acq - Fin

Acq - Fin - II

Acq - Fin - III

Acquired - III

Acq - Fin

Companies

Subscribe to see more

Subscribe to see more

Valuation

Acquirer

Subscribe to see more

Subscribe to see more

Sources

3

2

3

10

10

Carousel Capital Acquisitions

15 Acquisitions

Carousel Capital acquired 15 companies. Their latest acquisition was ProcessBarron on March 08, 2019.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

3/8/2019

Other

$99M

$1.88M

Acq - Fin - II

1

10/20/2014

$99M

Acq - Fin

1

7/25/2014

Series B

$99M

$10.5M

Acq - Fin

1

6/4/2013

Other

Subscribe to see more

$99M

$99M

Subscribe to see more

10

1/9/2013

Subscribe to see more

$99M

Subscribe to see more

10

Date

3/8/2019

10/20/2014

7/25/2014

6/4/2013

1/9/2013

Investment Stage

Other

Series B

Other

Companies

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$1.88M

$10.5M

$99M

Note

Acq - Fin - II

Acq - Fin

Acq - Fin

Subscribe to see more

Subscribe to see more

Sources

1

1

1

10

10

Carousel Capital Fund History

8 Fund Histories

Carousel Capital has 8 funds, including Carousel Capital Partner VI.

Closing Date

Fund

Fund Type

Status

Amount

Sources

11/11/2020

Carousel Capital Partner VI

$700M

1

1/9/2017

Carousel Capital Partners V

Subscribe to see more

Subscribe to see more

$99M

10

1/10/2013

Carousel Capital Partners IV

Subscribe to see more

Subscribe to see more

$99M

10

11/8/2007

Carousel Capital Partners III LP

Subscribe to see more

Subscribe to see more

$99M

10

12/31/2000

Carousel Capital II LP

Subscribe to see more

Subscribe to see more

$99M

10

Closing Date

11/11/2020

1/9/2017

1/10/2013

11/8/2007

12/31/2000

Fund

Carousel Capital Partner VI

Carousel Capital Partners V

Carousel Capital Partners IV

Carousel Capital Partners III LP

Carousel Capital II LP

Fund Type

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Status

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Amount

$700M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

Carousel Capital Partners & Customers

3 Partners and customers

Carousel Capital has 3 strategic partners and customers. Carousel Capital recently partnered with Armstrong Transport Group on June 6, 2019.

Date

Type

Business Partner

Country

News Snippet

Sources

6/18/2019

Partner

Armstrong Transport Group

United States

Carousel Capital Recapitalizes Armstrong Transport Group, LLC.

We are also excited to leverage our successful experience with Transflo -- a leading transportation technology platform we partnered with in 2013 -- in the execution of Armstrong Transport Group , LLC 's growth strategy in partnership with the management team , '' said Jason Schmidly , a Managing Partner of Carousel Capital .

4

6/4/2018

Partner

Huseby

United States

Subscribe to see more

Subscribe to see more

10

6/3/2013

Partner

Caldwell & Gregory

United States

Subscribe to see more

Subscribe to see more

10

Date

6/18/2019

6/4/2018

6/3/2013

Type

Partner

Partner

Partner

Business Partner

Armstrong Transport Group

Huseby

Caldwell & Gregory

Country

United States

United States

United States

News Snippet

Carousel Capital Recapitalizes Armstrong Transport Group, LLC.

We are also excited to leverage our successful experience with Transflo -- a leading transportation technology platform we partnered with in 2013 -- in the execution of Armstrong Transport Group , LLC 's growth strategy in partnership with the management team , '' said Jason Schmidly , a Managing Partner of Carousel Capital .

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Sources

4

10

10

Carousel Capital Service Providers

2 Service Providers

Carousel Capital has 2 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

Subscribe to see more

Subscribe to see more

Service Provider

Subscribe to see more

Associated Rounds

Provider Type

Counsel

Subscribe to see more

Service Type

Partnership data by VentureSource

Carousel Capital Team

7 Team Members

Carousel Capital has 7 team members, including current Chief Financial Officer, Eric F. Heintschel.

Name

Work History

Title

Status

Erskine Bowles

Founder

Current

Eric F. Heintschel

Chief Financial Officer

Current

Charles S. Grigg

Managing Partner

Current

William T. Hobbs

Managing Partner

Current

Nelson Schwab

Managing Partner

Current

Name

Erskine Bowles

Eric F. Heintschel

Charles S. Grigg

William T. Hobbs

Nelson Schwab

Work History

Title

Founder

Chief Financial Officer

Managing Partner

Managing Partner

Managing Partner

Status

Current

Current

Current

Current

Current

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.