DFX Intelligence
Private Equity Intelligence
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Firms / T•• Z•••• C••••••••• L••
T•• Z•••• C••••••••• L••
Partnership, Patience and Experience in the Lower Middle Market
Classification
- Class
- Buyout firmconfirmed, confidence 85%
- Basis
- R6: 8 of 8 distinct vehicles are sworn Private Equity Funds; 7 reported gross assets on a filing in 2022 or later
- Size band
- Lower middle marketdefined by: proxy: $0.07bn Private Equity Fund GAV on the Form ADV filed 2024-03-21
Classification history (1)
- Sep 13, 2026Buyout firm (confirmed, 85%, cls-pe-1)R6: 8 of 8 distinct vehicles are sworn Private Equity Funds; 7 reported gross assets on a filing in 2022 or later
Regulatory footprint (Form ADV)
- Adviser type
- exempt reporting adviser
- Form ADV filings
- Sep 4, 2018 to Mar 21, 2024
- RAUM
- unknownregulatory assets under management of the adviser; not dry powder, not a fund size
- PE funds, latest filing
- 6
- PE fund GAV, latest filing
- $68.0Mreported gross assets (Form ADV), not fund size
- All private fund GAV
- $68.0Mevery private fund type, latest filing
- 2024 PE fund GAV
- $68.0Msum over funds typed Private Equity Fund with a 2024 or later as-of date
- PE share of funds, lifetime
- 100%
- Fund type mix
- filed 2024-03-21, latest gav Private Equity Fund $68.0M, latest counts Private Equity Fund 6, lifetime distinct Private Equity Fund 8
- Employees
- unknown
- Headquarters
- Charlotte, NC
- Office address
- 4201 CONGRESS ST., SUITE 125, Charlotte, NC, 28209
- Business phone
- 704-973-9934
Stated criteria beside observed behaviour
24 observed deals
Stated by the firm
- Sectors
- automotive, environmental services
- Geography
- not stated or not yet read
- Revenue
- not stated or not yet read
- EBITDA
- from $4.0M
- Enterprise value
- not stated or not yet read
- Equity check
- not stated or not yet read
- Control
- not stated or not yet read
- Thesis
- Z•••• prefers to invest in transactions where there is management team continuity.
Observed from deals on record
- roles
- unknown 19, platform 5
- period
- to 2024-09-13, from 2020-08-04, undated holdings 19, dated observations 10
- window
- last 2024-09-13, first 2020-08-04
- control
- control 5, unknown 19
- companies
- 24
- geography
- investments
- 24
- seller kinds
- founder 1
- transactions
- 5
- cadence by year
- 2020 platforms 1, 2022 platforms 3, 2024 platforms 1
- platform add on
- add ons 0, platforms 5, add ons per platform 0
- sector known for
- 15
- disclosed value usd
- n 0
- sector distribution
- count 7, share 0.292, value industrial manufacturing, examples Freeds Bakery, LLC, Puritan Products, Inc, Polymicro Technologies, LLC, Atlas Die, LLC, count 3, share 0.125, value specialty distribution, examples International Retail Services Group, LLC, Badgerland Carwash Equipment & Supplies, LLC, Warner Holdings, LLC, count 2, share 0.083, value healthcare it, examples Ambulance Billing Consultants, LLC, EMS Management & Consultants, Inc, count 2, share 0.083, value software, examples Medical Packaging Inc., Frame It Easy, count 1, share 0.042, value healthcare services, examples GCDL
- holding period years
- n 0
- repeat counterparties
- subsector distribution
- count 5, share 0.208, value miscellaneous manufacturing, examples Polymicro Technologies, LLC, Atlas Die, LLC, Roll Rite, LLC, Stan’s NoTubes, count 2, share 0.083, value healthcare it, examples Ambulance Billing Consultants, LLC, EMS Management & Consultants, Inc, count 2, share 0.083, value software, examples Medical Packaging Inc., Frame It Easy, count 2, share 0.083, value misc durable wholesale, examples International Retail Services Group, LLC, Badgerland Carwash Equipment & Supplies, LLC, count 1, share 0.042, value food manufacturing, examples Freeds Bakery, LLC, count 1, share 0.042, value chemical manufacturing, examples Puritan Products, Inc, count 1, share 0.042, value dental, examples GCDL, count 1, share 0.042, value electrical electronic wholesale, examples Warner Holdings, LLC
24 companies on the graph (5 transactions); most in industrial manufacturing (7); 5 platforms and 0 add-ons; observed 2020 to 2024
Funds
8 on record
| Fund | Vehicle | Vintage | Reported gross assets (Form ADV), not fund size | GAV by year | Form D sold | Lifecycle |
|---|---|---|---|---|---|---|
| T•• F•• L•• ADV: Private Equity Fund | buyout or unlabelled | 2023 first reported on Form ADV | $15.4M as of Mar 21, 2024 | no Form D | Unknown | |
| T•• S•••• L•• ADV: Private Equity Fund | buyout or unlabelled | 2023 first reported on Form ADV | $15.1M as of Mar 21, 2024 | no Form D | Unknown | |
| T•• M•• L•• ADV: Private Equity Fund | buyout or unlabelled | 2021 first reported on Form ADV | $24.2M as of Mar 21, 2024 | no Form D | Active deployment | |
| T•• N•• M••••• L•• ADV: Private Equity Fund | buyout or unlabelled | 2021 first reported on Form ADV | $468,753 as of Mar 21, 2024 | no Form D | Unknown | |
| T•• B•••••• L•• ADV: Private Equity Fund | buyout or unlabelled | 2020 first reported on Form ADV | $11.5M as of Mar 21, 2024 | no Form D | Unknown | |
| Z•••• N••• L•• ADV: Private Equity Fund | buyout or unlabelled | 2019 first reported on Form ADV | $4.6M as of Mar 31, 2020 | no Form D | Wound down | |
| Z•••• W••••• L•• ADV: Private Equity Fund | buyout or unlabelled | 2019 first reported on Form ADV | $1.3M as of Mar 21, 2024 | no Form D | Harvest | |
| T• B• D••••••••• ADV: Private Equity Fund | buyout or unlabelled | unknown | $124,223 as of Mar 29, 2022 | no Form D | Wound down |
Team
10 current, 0 former
Managing partner (3)
- B••• L••••••• · Managing Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- B••• L••••••• · President · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- W•••••• Z•••• L••••••• · President And Chief Executive Officer · since Aug 1, 2018 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
Partner (2)
- R••• J•••• · Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- R••• J•••• · Partner · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
Principal (1)
- B•••• M•••••• · Principal · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Vice president (2)
- C••••• D•••••• · Senior Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- T••••• W••••••• · Senior Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Platform (2)
- L••• F••••• · Assistant Vice President & Controller · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- R•••••• P••• J•••• · Secretary · since Aug 1, 2018 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
Portfolio
24 relationships, 5 platforms, 0 add-ons
Transactions
6 on record
| Date | Type | Target | This firm’s role | Source |
|---|---|---|---|---|
| Sep 13, 2024 | Platform acquisition | G••••• C•••••• D••••• L•• | Sponsor (confirmed) | z•••••••••.com |
| Jan 24, 2023 | Add-on acquisition | N•• M••••• W•••• S•••••••• | Seller (confirmed), Seller (confirmed) | z•••••••••.com |
| Jul 7, 2022 | Platform acquisition | S••••• N•••••• | Sponsor (confirmed) | z•••••••••.com |
| May 3, 2022 | Platform acquisition | F•••• I• E••• | Sponsor (confirmed) | z•••••••••.com |
| Apr 25, 2022 | Platform acquisition | T••••• W••••••• | Sponsor (confirmed) | z•••••••••.com |
| Aug 4, 2020 | Platform acquisition | M•••••• P•••••••• I••• | Sponsor (confirmed) | z•••••••••.com |
Placement agents, lenders, advisers and co-investors
1 relationships
Financial advisers (1)
- M•••••• I••••••••• B•••••• 1 shared · one time · last Sep 13, 2024
LP commitments
0 disclosed
No LP commitment collected yet. An LP edge needs a public disclosure with a quote, such as a pension plan’s report or an announcement naming the LP.
Events
21 most recent
- Aug 5, 2026August 5, 2026 Z•••• Promotes B•••• M•••••• to Principal
- Jun 17, 2026June 17, 2026 Z•••• Adds Senior Associate to Investment Team
- Mar 9, 2026T•• Z•••• C••••••••• L••: Private Equity Funds on Form ADV 6 (2024 extract) -> 10 (roster 2026-09-01)
- Sep 13, 2024T•• Z•••• C•••••••• Partners with G••••• C•••••• D••••• L••
- Sep 13, 2024September 13, 2024 T•• Z•••• C•••••••• Partners with G••••• C•••••• D••••• L••
- Jun 26, 2024June 26, 2024 Z•••• Promotes T••••• W••••••• to Senior Associate
- Apr 25, 2024April 25, 2024 Z•••• Announces New Platform Investment of S•• I•••••••••
- Aug 22, 2023August 22, 2023 T•• Z•••• C•••••••• adds Associate to Investment Team
- Jul 20, 2023July 20, 2023 T•• Z•••• C•••••••• Promotes B•••• Kohn to Partner
- Jan 24, 2023January 24, 2023 Z•••• Announces Sale of N•• M••••• W•••• S•••••••• to W•••• Harmonics
- Jan 11, 2023January 11, 2023 R••• J•••• Appointed to Board of Governors of M&A Source
- Jul 7, 2022T•• Z•••• C•••••••• Invests in S••••• N••••••
- Jul 7, 2022July 7, 2022 T•• Z•••• C•••••••• Invests in S••••• N••••••
- May 3, 2022T•• Z•••• C•••••••• Acquires F•••• I• E••• in Partnership with Management
- May 3, 2022May 3, 2022 T•• Z•••• C•••••••• Acquires F•••• I• E••• in Partnership with Management
- Apr 25, 2022T••••• W••••••• joins T•• Z•••• C••••••••
- Apr 25, 2022April 25, 2022 T••••• W••••••• joins T•• Z•••• C••••••••
- Jun 10, 2021June 10, 2021 M•••••• P•••••••• appoints new President/CEO
- Aug 4, 2020T•• Z•••• C•••••••• Acquires M•••••• P•••••••• Incorporated
- Aug 4, 2020August 4, 2020 T•• Z•••• C•••••••• Acquires M•••••• P•••••••• Incorporated
- Sep 4, 2018T•• Z•••• C••••••••• L•• first filed Form ADV in the extract (ERA)
Across the graphs
T•• Z•••• C••••••••• L•• is the same institution as 2 records in Independent Sponsors and RIA and Wealth.
Independent Sponsors1RIA and Wealth1
Which record it is in each graph, what it is called there, and what the two were joined on. The Data Factory holds all nine graphs and the identity layer between them.
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