Finance Monthly. Beyond the Deal Beyond the Deal 38 39 Finance Monthly. VASCO ADDS SCHUBERT TENNIS IN MIDWEST PLATFORM EXPANSION Deal Overview The Vasco Group has acquired Schubert Tennis, a Cincinnati-headquartered specialist in asphalt and clay tennis courts, pickleball courts, and multi-sport surfaces, expanding Vasco’s geographic footprint and technical capabilities across the Midwest. The acquisition strengthens Vasco’s position as a nationwide sports surfacing platform backed by Monogram Capital Partners, with additional support from Halmos Capital Partners. Vasco was acquired by Monogram in January 2025 and has since pursued a targeted buy-andbuild strategy focused on regional leaders with differentiated technical expertise. Schubert Tennis, founded in 1984 by Rusty Schubert and Jeff Parish, brings more than three decades of experience in clay court construction, resurfacing, maintenance and reconditioning—capabilities not previously offered within the Vasco platform. Strategic Rationale The transaction aligns with Monogram’s strategy of backing founder- and family-led businesses operating in fragmented, high-growth service sectors where scale, training and technical know-how create defensible competitive advantages. With the addition of Schubert, Vasco expands into the Cincinnati and Columbus markets while adding specialized clay court services that generate predictable, recurring revenue streams. The acquisition also enhances operational efficiency through shared labour, warehousing and equipment, while creating cross-training opportunities that allow technicians to broaden service offerings across an established customer base. The deal further positions Vasco to capitalise on favourable industry tailwinds, including rising youth sports participation, sustained municipal investment, and the rapid expansion of pickleball facilities nationwide. Platform Strategy Schubert will continue to operate under its existing brand, with owner-operators Rusty Schubert and Jeff Parish remaining actively involved in the business. The transaction preserves Schubert’s local relationships and reputation for craftsmanship while providing access to the broader resources, operational support and growth infrastructure of the Vasco platform. For Vasco, the acquisition deepens its ability to deliver end-to-end solutions for athletic, municipal and recreational facilities, reinforcing its ambition to become a scaled national partner in sports surfacing services. Transaction Structure The acquisition represents a classic private equity platform add-on, expanding both geography and capability set without disrupting existing operations. The structure enables immediate integration benefits while maintaining continuity for customers and employees. Financial terms were not disclosed. Transaction Context The Vasco–Schubert transaction highlights continued consolidation across the highly fragmented U.S. sports facility services market. With few scaled national operators and increasing demand for specialised surface types, platform-backed acquirers are well positioned to pursue disciplined M&A strategies that combine local expertise with national reach. For Monogram and Halmos, the acquisition reinforces early momentum in the Vasco platform and signals continued appetite for add-on acquisitions that deepen technical capabilities while expanding regional coverage. Legal Advisers: No financial advisers were disclosed in the transaction announcement. ADVISORS TO THE TRANSACTION Sector: Sports Infrastructure / Facility Services Transaction Type: Platform Add-on Acquisition Sponsor: Private Equity–Backed Platform Deal Status: Completed Completion Date: February 2026
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