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August 18, 2014

Marriott & Co. Serves as Exclusive Financial Advisor to Tidewater Fleet Supply

For Immediate Release
Marriott & Co. Serves as Exclusive Financial Advisor to Tidewater Fleet Supply.
Richmond, VA, August 18, 2014

Marriott & Co., a premier middle market investment banking firm based in Richmond, VA, is pleased to announce that it served as the exclusive financial advisor to Tidewater Fleet Supply, LLC (“TFS” or the “Company”) in its recapitalization led by Falcon Affiliates, LLC (“Falcon”), a private investment firm with offices in Richmond, VA and Tampa, FL, in a transaction that closed August 7, 2014. Falcon partnered with management to acquire a controlling interest in the Norfolk, VA-based company. Terms of the transaction were not disclosed.

Established in 1953, Tidewater Fleet Supply is a leading independent distributor of over 135 lines of brand name automotive, truck and heavy equipment parts to commercial and governmental customers throughout Southeastern Virginia, Central Virginia and Northeastern North Carolina. TFS has achieved extraordinary growth under the leadership of its management team led by President Allan Parrott, and has been a perennial member of Inc. Magazine’s “Inc. 500/5000” ranking of the nation’s fastest-growing private companies.

Allan Parrott, President of TFS, said, “I am thrilled about our new partnership with Falcon Affiliates and look forward to continuing to build upon the success of our company for many years to come. This is a terrific outcome for TFS, our employees and our customers, as we are now perfectly positioned to capitalize on the many exciting growth opportunities that exist in our markets. I would like to thank the Marriott & Co. team for their tireless efforts in managing an efficient process that yielded such a positive result for our company. They exceeded our expectations with the level of service and professionalism that they provided through every step of the process.”

Will Krusen, President of Falcon, added, “We are excited to partner with Allan Parrott and his management team and see tremendous growth potential for the Company in the years to come. We appreciate all of the hard work that the Marriott & Co. team put forth to facilitate due diligence and a timely closing.”

“We are honored that Allan provided us with the opportunity to advise TFS on such an important transaction,” said Justin Marriott, Managing Director of Marriott & Co., “We truly enjoyed working with him and the entire TFS team, and believe that the Company is poised to thrive under this new partnership with Falcon.”

Kaufman & Canoles provided legal advice to TFS on this transaction, and Williams Mullen provided legal advice to Falcon on this transaction. Transaction financing was provided by Xenith Bank.

About Tidewater Fleet Supply:

Headquartered in Norfolk, VA, Tidewater Fleet Supply, LLC ( is a leading independent distributor of brand name automotive, truck and heavy equipment parts to commercial and governmental customers throughout Southeastern Virginia, Central Virginia and Northeastern North Carolina. The Company operates five warehouses throughout Virginia, and also manages the parts procurement for multiple municipalities and large corporations under multi-year contracts. TFS is a “one-stop shop” for its customers across a broad spectrum of vehicles, including light- and medium-duty products, as well as heavy-duty truck products. The Company offers hourly delivery service to most of its customers by utilizing its fleet of delivery trucks, creating a unique “just-in-time” delivery model that is highly convenient for its customers.

TFS was established in 1953 and has achieved significant revenue growth in recent years. The Company was ranked as one of the fastest-growing private companies in the U.S. in Inc. Magazine’s 2014 “Inc. 500/5000” ranking, marking the fourth time that TFS achieved this honor.

About Falcon Affiliates:

Falcon Affiliates is an active investor providing capital and expertise to growing enterprises in the manufacturing, distribution, and industrial and business services sectors. Falcon differentiates itself through a flexible and longer-term approach to investing, a focused portfolio, and close, complementary involvement with management. More information is available at

About Marriott & Co.:

Headquartered in Richmond, Virginia, Marriott & Co. ( is a premier, independent boutique investment-banking firm focused on advising closely held private companies across a wide variety of industries. The firm provides merger and acquisition advisory and capital raising services primarily to family-held businesses and entrepreneurial business owners in the middle market. Marriott & Co.’s unique entrepreneurial culture enables the firm to tailor its services to meet the needs of its clients, and the firm’s professionals have an unparalleled understanding of the challenges and opportunities facing these companies and their owners today. By delivering senior banker attention, a high-touch approach to client service and best-in-class process execution to every assignment it undertakes, Marriott & Co. has established a long track record of closing successful transactions for clients all over the U.S.

Contact: Justin Marriott
Phone: (804) 344-0952