Carousel Capital announced today that it has partnered with management to recapitalize McCorquodale Transfer, LLC (“MTI” or the “Company”), a leading residential services platform serving thousands of individual clients through its interior design channel partners.
Founded in 1995 by its CEO, Bart McCorquodale, and based in Birmingham, AL, MTI focuses its service offering on interior design clients and their end-customers, providing mission critical outsourced services such as receiving, warehousing, moving, delivery and installation. MTI also provides concierge relocation services to residential customers and commercial clients. MTI’s growth has been facilitated by its 7 location branch network across the Southeast U.S. and a deep, cohesive team of professional and highly-skilled operators.
“MTI has been built around the tenets of high-touch, professional customer service and best-in-class branch-level operations. Carousel shares this view as critically important and its experience developed through its numerous successful multi-site, buy-and-build business and consumer services partnerships gave us great confidence in working with them on this opportunity,” said Bart McCorquodale, Founder and Chief Executive Office of McCorquodale Transfer.
“We are excited to partner with Bart McCorquodale and the management team of MTI to assist them in continuing to build a leading interior design-focused outsourced services and concierge relocation platform,” said Peter Clark, a Partner of Carousel Capital. “Bart and his management team have built a differentiated platform and have an impressive track record of building the business organically. We believe MTI has a unique opportunity to achieve significant growth through the continuation of their greenfield strategy and via strategic acquisitions in this highly fragmented market. We are excited to partner with Bart and participate alongside MTI in the execution of this strategy.”
This investment continues Carousel Capital’s longstanding focus on companies headquartered in the Southeastern United States and specifically its fifth platform investment in Alabama over the past 10 years, four of which are headquartered in Birmingham. The transaction was funded with equity from Carousel Capital’s sixth fund. K&L Gates LLP served as legal advisor.