A growing local business brokerage and M&A firm has moved its office across the river and secured some acquisitions of its own.
Transact Capital Partners recently relocated from The Boulders in the Southside to the North Shore Commons II building at the northern end of Innsbrook.
The 3,600-square-foot office at 4991 Lake Brook Drive adds about 500 square feet from its previous home in the Boulders, along with multiple meeting and conference rooms, a kitchen, and other amenities. The Innsbrook space previously housed another investment banking firm: 1607 Capital Partners, which is now located in Shockoe Slip.
Transact Capital founder Steve Zacharias, who started the firm 15 years ago after more than two decades as a corporate treasurer for Media General, said the move signifies Transact Capital’s growth – both internally and on the national-deal level – and comes at a time when the firm is moving toward targeting specific industries such as staffing and technology.
“We’ve done numerous deals in every industry; that makes us generalists,” said Zacharias, adding that the firm typically targets deals valued at $2 million to $50 million.
“What we’re pursuing today is industry verticals,” he said. “That allows us to go national and do much larger deals, because we have a proven expertise in that industry.”
The 15-person firm, which Zacharias said has doubled in size over the past three years, recently added managing director Scott Frayser, cofounder of locally based Matrix Capital Markets Group. It’s also added Linda Nash, CEO of concierge medical practice group WellcomeMD, to its recently formed board of advisors.
Zacharias said Frayser will help the firm pursue technology industry deals and succession planning services. Nash, who previously led another concierge company PartnerMD into its sale to Markel Ventures in 2011, would help the firm move further into healthcare deals.
The firm recently worked two deals in that industry – the Jan. 26 acquisitions of Richmond-based pediatric dental group Wood Lombardozzi and pediatric orthodontics group Dunlevy Orthodontics by Michigan-based Spring & Sprout Support Services, a portfolio company of private equity firm Huron Capital Partners.
Patrick Morin, who joined Transact Capital as a managing director three years ago, said in the firm’s search for a new home base it looked downtown, including at the James Center.
“We had to make this move because the firm is transforming into the investment bank it was meant to become,” said Morin. “The whole move was an opportunity for us to stretch our wings.”
Zacharias, whose wife, Robyn Zacharias, runs local ad firm Barber Martin Agency out of the Boulders, said Transact averaged about 13 deals each of the last three years.
Recent deals have included the sale of Westhampton Pastry Shop, SJW Commercial Concrete’s combination with Technical Partners, Partnership Staffing’s purchase by an Atlanta-based firm, and the merger of two other local staffing firms: Lawyer’s Staffing and Accent Professional Recruiting.
Since its start in 2001, Transact Capital has also made some acquisitions of its own, including the purchase of fellow investment banking firm Alpha Omega Capital Partners in 2011. Its subsidiaries include Capital Business Brokers, which focuses on deal sizes between $300,000 and $2.5 million, and investment bank/broker-dealer Transact Capital Securities.
In addition to its Innsbrook headquarters, the firm has one-person offices in Roanoke, Tidewater, Lexington, Kentucky, and Orlando. Zacharias said they expect to open an office in Raleigh soon and are also eyeing Denver.