Sale Follows a Carve-Out and Platform Buildout, Significant Growth and Three Strategic Acquisitions
Under Southfield’s Ownership
GREENWICH, Conn., Nov. 10, 2026 /PRNewswire/ — Southfield Capital (“Southfield”), a premier lower middle market private equity firm, today announced that it has completed the sale of TFS, Ltd. (“TFS”, or the “Company”), an independent, nationwide provider of outsourced material handling equipment (“MHE”) fleet management services, to AEA Investors (“AEA”). Terms of the transaction were not disclosed.
Southfield acquired TFS through a carve-out transaction in 2024, working alongside the Company’s founders and leadership team to execute on its growth plan. Under Southfield’s ownership, TFS invested in its sales and account management functions, broadened its service offering and completed three strategic add-on acquisitions. TFS also worked with Contextual.io on AI-enabled initiatives that created efficiencies and strengthened the value proposition by creating additional customer savings. Southfield is thrilled with the outcome of its first investment in Southfield Capital IV.
Brent Parent, Co-Founder & CEO of TFS, said, “Southfield has been a trusted partner from day one. They have been a valued advisor and have backed us as we have accelerated our growth and invested in our people, culture, and platform. We are grateful for their support and are excited to begin this next chapter as we continue to deliver best-in-class fleet management solutions to our customers nationwide.”
“It has been a privilege to work with the TFS team,” said Andy Cook, Partner at Southfield Capital. “The Company stood up an independent business out of a carve-out while adding capabilities, delivering exceptional service to customers and using technology, AI and data to further strengthen the Company’s value proposition. We believe TFS is well positioned for continued success.”
Stifel served as the exclusive financial advisor and Finn Dixon & Herling LLP served as legal counsel to Southfield and TFS in this transaction.
About Southfield Capital
Southfield Capital is a premier private equity firm with a foundational commitment to driving value at high-growth, lower middle market companies in the business services sector. The firm leverages its deep team of highly experienced investment, technology and value-creation professionals, combined with fully integrated AI-driven capabilities to partner with founders and manager-owned teams. For more information, please visit www.southfieldcapital.com
About TFS
Founded in 2001, TFS is an independent, nationwide provider of outsourced MHE fleet management solutions. TFS manages the entire MHE asset life cycle under a single contract, spanning fleet management and data services, asset-light financing, and other adjacent MHE services. Its brand-independent model and data-driven platform help customers lower total cost of ownership while improving uptime, productivity, and safety. For more information, visit www.tfsglobal.com.
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SOURCE Southfield Capital
