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Press releases > Generational Capital Markets Advises Norris Training Systems in Recapitalization by Surge Private Equity LLC

Generational Capital Markets Advises Norris Training Systems in Recapitalization by Surge Private Equity LLC

By Capital Markets

Jan 9, 2020, 08:00 et

Norris Training Systems

Generational Capital Markets, Member FINRA/SIPC and a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the recapitalization of its client, Norris Training Systems Inc. (“Norris”), by Surge Private Equity LLC (“Surge”). The transaction closed January 3, 2020 and details were not disclosed.

Operating for 30+ years, Norris provides training hosting services to over 2,500 clients across its five facilities in Houston, Austin, San Antonio, and a newly launched Dallas location. Norris has consistently dominated the Texas market through its exceptional focus on quality customer experience, boasting a 10% top-line CAGR over the past 14 years. The deal closed with financing from Modern Bank, N.A. (“Modern”). Primary sellers David and Linda Norris retained a minority share and will remain on in their current capacity as operators.

Surge is a Dallas-based private equity firm that typically seeks majority investments in growing businesses with $2-7.5MM of EBITDA. Together with its lending partners, Surge provides entrepreneurs with liquidity and investors with higher yields and greater accessibility through lower investment minimums. Surge primarily invests in companies where the seller will remain on board in an ongoing capacity.

With the addition of Norris, Surge now operates five platform investments with three add-on acquisitions. Thiago Farias is being hired to head up portfolio operations – traveling from company to company in an operationally-focused capacity to assist in the growth and development of Surge’s holdings.

Modern is a privately owned, entrepreneurial bank that provides flexible, competitive and reliable senior debt financing solutions to commercial companies. Their experienced bankers specialize in working with lower middle market companies and their owners to provide low-cost cash flow-based financing solutions. Whether expanding a business, acquiring a company, or financing a new product, clients have come to rely on their deep credit market and industry knowledge, and the ability to provide tailored solutions for a variety of credit-related needs.

Chris Heckert, Managing Director Mergers & Acquisitions, with support from Senior Vice President Julio Dominguez, successfully completed the recapitalization. Executive Managing Director Bill Kushnir established the initial relationship with Norris.

"Norris is a great company with fantastic leadership. The opportunities for growth with a partner like Surge are incredibly exciting,” said Heckert.

About Generational Capital, LLC

Generational Capital, LLC, is a Dallas, Texas-based merger and acquisition advisory firm. Generational Capital wholly owns Generational Capital Markets, Inc., Member FINRA/SIPC. More information can be found at www.gencm.com.

Generational Capital and Generational Capital Markets are part of the Generational Group and are affiliated with Generational Equity, LLC, which The M&A Advisor named Investment Banking Firm of the Year in 2016, 2017, and 2018.

GCM's most recent awards include The M&A Advisor's 2019 M&A Deal of the Year Award (50M-75M) and the Corporate/Strategic Deal of the Year (25M-50M).

We knew it would be a difficult task to have someone really understand our business and our market, prior to researching a possible buyer, so it was imperative that we found someone of your caliber, with definite proven experience in this area.
Rick Nowak, President/CEO, Kurz Electric Solutions, Inc.
We were happy to see the interest in our company and what we cherished has not just a valuable company but an important company to the communities we served in.
Larry Moore, Owner, A Company Portable Restrooms
We thank you Eric and Generational Equity making our dream come true.
Larry Moore, Owner, A Company Portable Restrooms
The help you provided us during each step of this process made us feel very comfortable and confident we were selecting the right approach to transition our Company.
Andy Graham, Vice President, Modern Heating & Plumbing
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Jay Dinnison, Owner of Sharpe Mixers
The process was much more involved than I expected and your help, experience and advice was a big factor in making the negotiations go as smoothly as possible.
Terry D. Wickman, President, Keytroller
Greetings Mike. Thank you for the captivating and compelling presentation you made at the Phoenix presentation last week. Over many years in business yours was the most informative and well-presented presentation, on any subject, that I have ever attended! Your energy and enthusiasm combined with your concise and captivating support of your positions with easily understood examples and data was compelling.
Pete L.
We are extremely pleased with the way Generational Equity handled the sale of our company. Your associates, Tom and Chris, did an outstanding job of getting us (me) through the process.
Michael J Polarek, President, Paragon Packaging
We are very happy with the end result, and are very happy to be able to move forward with all of our future growth plans.
Rick Nowak, President/CEO, Kurz Electric Solutions, Inc.
I quickly recognized that Don was working for Sharpe Mixers above all else, and held our interests above others.
Jay Dinnison, Owner of Sharpe Mixers
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Robert Evans, President and CEO of Mealtracker Dietary Software
Generational Equity educated and informed us – so that we could be on the upside of a good decision (to sell).
Bil MacLeslie, CEO, ipHouse
Your wisdom and experience were invaluable to me during this once-in-a-lifetime transaction.
Ralph Noblin, President of Noblin & Associates
Generational Equity’s assistance was invaluable in compiling and marketing our business.
Bil MacLeslie, CEO, ipHouse
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Andy Graham, Vice President, Modern Heating & Plumbing
Tom Staszak is one of the most professional people I have dealt with in my last forty years of business. You’ve got a great group of people and you have built a truly professional organization.
Michael J Polarek, President, Paragon Packaging
I couldn’t have asked for a better team than Michael and Deborah. We couldn’t have done it without them.
Robert Evans, President and CEO of Mealtracker Dietary Software
Thank you again for all your guidance and support. Any company will achieve what they intend, if they have you on their team!
Rick Nowak, President/CEO, Kurz Electric Solutions, Inc.
Bruce and I wanted to take this opportunity to thank Generational Equity for assigning Musa Jagne to our transaction. In Bruce’s words, “Musa did one hell of a job for us!”
Karen S. Williams, CFO, BW Manufacturing
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Karen S. Williams, CFO, BW Manufacturing
I would like to thank you and your firm, Generational Equity, for being our valued advisors in our journey.
Bil MacLeslie, CEO, ipHouse
I wanted to write you a quick letter to express our appreciation and our delight on the outcome of helping us through the process of our recent sale. We are very happy with the end result, and are very happy to be able to move forward with all of our future growth plans.
Terry D. Wickman, President, Keytroller