Southfield Capital announced the sale of Milrose Consultants, a national provider of code consulting, permit expediting, architecture and engineering, inspection services, and municipal real estate compliance solutions, to Littlejohn & Co. Financial terms of the transaction were not disclosed.
Southfield first partnered with Milrose in 2019. During the investment period, the company expanded from a New York City-focused business into a nationwide platform with more than 435 professionals operating from offices in all 50 states. Milrose increased its earnings by more than seven times through geographic expansion, broader service offerings, management team recruitment, and the completion of 14 strategic add-on acquisitions.
In 2023, Southfield completed a continuation vehicle transaction involving Milrose, providing liquidity options for existing investors while maintaining support for the company’s long-term growth strategy. The sale to Littlejohn marks Southfield’s exit from the investment. Key members of Milrose’s management team will remain shareholders alongside Littlejohn.
Milrose provides building compliance services including permitting, code and zoning consulting, regulatory filings, special inspections, façade inspections, due diligence, research, and related compliance solutions. The company serves customers across commercial, multifamily residential, retail, industrial, healthcare, and academic sectors.
Solomon Partners served as lead financial advisor on the transaction. Houlihan Lokey acted as financial co-advisor, KPMG USA provided transaction advisory services, and Wiggin and Dana LLP served as legal advisor to Milrose.
Founded as a lower middle market private equity firm focused on business services companies, Southfield Capital partners with founder-led and management-owned businesses to support growth and value creation initiatives.
KEY QUOTES:
“Southfield has been an exceptional value-add partner and trusted advisor throughout our time working together. Their thoughtful and collaborative approach, together with an unwavering commitment to investing in our people and infrastructure, have helped position Milrose for long-term success. We are grateful for their support and have appreciated their ability to provide a consistently valuable perspective while empowering and trusting us to execute on our growth and operational strategy.”
Dominic Maurillo, CEO, Milrose Consultants
“It has been a pleasure partnering with Dom and the entire Milrose team over the past several years. Together, we executed on a shared vision to scale the platform by expanding geographically, broadening the Company’s service offerings, and completing a number of strategic acquisitions to help evolve Milrose into a national leader in building code compliance and consulting. We are proud of what we accomplished alongside Milrose’s management team and believe the Company is well positioned for continued success in the next phase of its growth.”
Chris Grambling, Partner, Southfield Capital
