Trive Capital Exits Circle 8 And uSell

Dallas based private equity firm Trive Capital exits Circle 8 and uSell after perfecting its investments.
Trive teamed up with Circle 8 in February 2017 via a structured capital investment at a time when traditional funding sources were not available.
Founded in 2008 with headquarters in Houston, TX, Circle 8 provides operated and maintained crane lifting and pumping services to the oil and gas, commercial, and industrial markets in the southern United States. Over the last ten years, Circle 8 and its adept management team have profitably navigated a cyclical industry through end market variegation and by affirming strong customer relationships built on peerless service with a high fleet usage.
During its alliance with Trive, Circle 8 created notable value with a scalable operating model. Growing wallet share, developing its MSA base, and securing business in new geographies and with new customers. In November 2018, Circle 8 recapitalized and Trive’s structured equity investment was favorably realized.
Earlier in 2017, Trive teamed up with uSell via a multi-tranche investment in debt and a special purpose vehicle.
uSell is a re-commerce company with headquarters in New York City. It runs an online marketplace where people can sell used cell phones, tablets, video games, textbooks, and gift cards to professional buyers. These are then distributed all over the world using its internal sales team and an online platform. uSell wrapped up a refinancing in November 2018 and Trive’s investment was profitably realized.
Chris Zugaro of Trive said: 'We are excited to announce two successful exits in transactions where we provided tailored capital solutions to meet the needs of our respective partners. The uSell and Circle 8 transactions further highlight Trive’s ability to collaborate with management teams and offer hands-on support, irrespective of capital structure.'
Shravan Thadani of Trive added: 'We have been lucky to partner with talented management teams in both instances that resulted in successful and strategic transactions for all stakeholders. We will continue to seek out opportunities to invest in uniquely structured capital solutions, including both debt and equity securities, given our flexible mandate and situational approach to investing.'

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