About Brick Investment Partners
Brick Investment Partners is a private equity firm that seeks to invest in small and medium-market companies located in the United States and Canada. The firm specializes in acquisitions, management-led buyouts, corporate divestiture investment, and investment in family-owned businesses. It invests in companies with EBITDA of $3 million to $10 million and may consider companies with EBITDA of up to $20 million.
Brick Investment Partners prefers to invest in the sectors of manufacturing, healthcare services, industrial services, chemicals, transportation, energy and fuels, business services, and women-owned and minority-owned businesses.
Services Offered by Brick Investment Partners
Brick Investment Partners provides the following services:
Corporate Divestiture Investments
Corporate divestiture is a strategy that companies use to remove or dispose of some of the assets under their business portfolio. The strategy helps businesses do away with non-performing business units and use the revenue from the sale to minimize operating losses or increase profitability, and improve the efficiency of their business operations. Corporate divestiture may take the form of sell-offs, spin-offs, or equity carve-out. When a company is considering selling off non-strategic assets, Brick Investment Partners helps to evaluate the assets and close the transaction within a reasonable period. The firm may also consider non-performing business units that a seller may be interested in selling to a strategic buyer.
When a company with over $2 million of EBITDA is considering scaling up its growth, Brick Investment Partners may come in as a strategic growth partner. The firm provides funds and the assistance required to identify and pursue potential areas for growth. It also helps such companies to complete strategic acquisitions of other smaller or competing businesses as part of a growth strategy. Brick Investment Partners often plays a passive role as board members of the company and works directly with the company’s management to grow the business.
Investing in Family Businesses
Brick Investment Partners work with the founders/owners of family businesses to complete a partial or total exit strategy. Aging business owners looking to retire may consider selling their business or transitioning the business from one generation to another while retaining some equity. Brick facilitates the full acquisition of the business or enters into a partnership with the next generation of the family or the original owner wishing to retain partial control of the business.
Investment Criteria of Brick Investment Partners
When considering businesses for investment, Brick Investment Partners gives preference to businesses with positive cash flows and potential for growth in their respective industries. Typically, Brick Investment Partners lists two requirements when seeking companies to invest in. One of the requirements is companies with $3-$10 million EBITDA, although Brick may consider investing in companies with up to $20 million of annual EBITDA.
Secondly, the potential businesses should primarily operate in the United States or Canada but may have operations in foreign countries.
Recent Deals by Brick Investment Partners
Acquisition of John N. Fehlinger Co., Inc.
In September 2015, Brick Investment Partners completed the acquisition of John N. Fehlinger Company Inc., a distributor and after-market provider of pressure steam and flow control equipment. Founded in 1951, the company is one of the leading providers of quality equipment and services in the New York metropolitan area. The acquisition was completed for an undisclosed amount.
Acquisition of Oil Changers
In February 2018, Brick Investment Partners completed the acquisition of Oil Changers Inc., in partnership with Trivest Partners. Oil Changers is a Pleasanton-based, independently owned lube service company. The company focuses mainly on oil changes and ancillary services such as windscreen wiper and air filter replacements. Oil changer’s niche focus on providing superior speed and top-of-the-line service is helping the company increase the daily car counts, the number of return customers, and premium ticket prices.
Brick Investment Partners’ Management Team
Chris Thorpe is the managing partner of Brick Investment Partners. He lists over 20 years of experience in managing businesses and portfolio investments. He is also the co-founder of Hudson Capital Energy, LLC, a provider of over-the-counter derivatives, that was sold to INTL FCStone in 2011, and CTA Financial, LLC, an NFA-registered entity that advises clients on investment and commodity derivatives.
Previously, Thorpe served in various commercial and trading positions at Methanex Corporation in Vancouver, Brussels, and Dallas. He also worked in JP Morgan’s investment banking division in New York. Thorpe obtained his BA from the University of British Columbia and an MBA at INSEAD France. He is a Chartered Financial Analyst.
David Hobbs serves as a managing partner at Brick Investment Partners. He boasts more than two decades of experience in capital markets, mergers and acquisitions, and proprietary situations. Previously, Hobbs served in Compass Advisors Group energy division, as well as at Citigroup as a senior M&A investment banker in the global energy and transportation division.
Hobbs’ other experience includes working with the UBS Canadian fixed income and LIBOR-based options portfolios. Hobbs obtained his BBA (with honors) from the University of Michigan and MBA (with Beta Gamma Sigma Honors) at the Columbia Business School.
Dave Collins joined Brick Investment Partners as a Senior Advisor in 2017. He previously worked with Imperial Oil for eight years in various positions in construction, marketing, and distribution. Collins then left Imperial Oil to establish Wilson Fuel Company in Halifax, Nova Scotia. The company, which includes gasoline business, service, and convenience stores, now oversees 82 locations and operates franchises for Burger King, Robin Donuts, and Tim Horton. Wilson Fuel also supplies gasoline to over 200 dealer outlets in four Canadian provinces.
Collins also served as President and founding director of the Canadian Independent Petroleum Marketers Association. He obtained his Bachelor of Engineering in 1980 and became a Registered Engineer that same year.
Paul Timmons joined Brick Investment Partners in 2016 as head of the new Chemicals and Specialty Materials platform. Before joining Brick, he worked with Superior Plus Corp as the President of the Specialty Chemicals business. Timmons brings over 40 years of experience in the chemicals, metallurgical, and ore processing industries.
Previously, Timmons served as the Chairman of the Chemistry Industry Association of Canada (CIAC) for 15 years. He is the recipient of several awards such as the Outstanding Leadership Award of the Chemistry Industry of Canada and Toronto Business Excellence Award for leading CEOs.
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