New Mountain Capital LLC, a New York-based equity firm, has acquired shared mail firm MailSouth. The all-cash purchase price was slightly more than $100 million, according to industry and published sources.
MailSouth delivers its packages to more than 10 million households in 22 states, with a focus on rural and suburban areas. Its primary target areas are in the southeast and Midwest. The company was established in 1988.
MailSouth’s clients include: Goodyear; Wal-Mart; KFC; Pizza Hut; Cracker Barrel; Papa Johns; Domino’s Pizza; Verizon Wireless; Dish Network; Blockbuster; and DirecTV.
Petsky Prunier assisted MailSouth in coordinating the deal. According to Sanjay Chadda, managing director of Petsky Prunier, the acquisition is a “platform deal” which will likely serve as a springboard for other shared mail firm acquisitions.
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