M&A Deal Summary

Capital For Business, The Mendota Group and Aldine Capital Partners Acquire Lake Air Products

On March 1, 2017, private equity firm Capital For Business, private equity firm The Mendota Group and mezzanine finance firm Aldine Capital Partners acquired metals/mining company Lake Air Products

Acquisition Highlights
  • This is Capital For Business’ 4th, The Mendota Group’s 1st and Aldine Capital Partners’ 2nd transaction in the Metals/Mining sector.
  • This is Capital For Business’ 34th, The Mendota Group’s 6th and Aldine Capital Partners’ 33rd transaction in the United States.
  • This is Capital For Business’ 4th, The Mendota Group’s 3rd and Aldine Capital Partners’ 2nd transaction in Minnesota.

M&A Deal Summary

Date 2017-03-01
Target Lake Air Products
Sector Metals/Mining
Buyer(s) Capital For Business
The Mendota Group
Aldine Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Lake Air Products

Minneapolis, Minnesota, United States
website
Lake Air Metals is a precision manufacturer of metal products with deep expertise in sheet metal and structural fabrication, machining, stamping, tool design and build, and electromechanical assembly serving industrial OEMs in the medical, turf care, industrial, automotive, and aerospace industries. Lake Air Products was founded in 1974 and is based in Minneapolis, Minnesota.

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Buyer(S) 3

Buyer

Capital For Business

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1959
PE ASSETS 150M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Capital for Business (CFB) is a private investment firm focused on providing junior capital to growing lower middle-market companies with at least $8 million in sales. CFB targets businesses serving niche consumer, commercial, distribution, manufacturing, and service markets throughout the United States. Funds are typically used to support management buyouts, leveraged buyouts, recapitalizations, corporate divestitures, growth financings, and going-private transactions. CFB will not invest in start-ups, turnarounds, unproven technologies, biotech, real estate, and financial institutions. Capital for Business was founded in 1959 and is headquartered in St. Louis, Missouri.


DEAL STATS #
Overall 34 of 42
Sector (Metals/Mining) 4 of 6
Type (Buyout (LBO, MBO, MBI)) 25 of 28
State (Minnesota) 4 of 4
Country (United States) 34 of 42
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-30 Domaille Engineering

Rochester, Minnesota, United States

Domaille Engineering is a provider of polishing machines and fixtures, inspection equipment and associated engineered products for the rapidly growing fiber-optic cable market. The Company also engineers and manufactures complex, mission-critical products for the defense, aerospace, national security, telecommunications, energy and medical sectors. Domaille Engineering was founded in 1990 and is based in Rochester, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-01 Sun Graphics

Parsons, Kansas, United States

Sun Graphics provides a complete range of high-end, commercial printing products and services, including pre-press and creative work to printing, binding, and fulfillment services. Sun Graphics is based in Parsons, Kansas.

Sell -
Buyer

The Mendota Group

Madison, Wisconsin, United States

website


Category Private Equity Firm
Founded 2000
Size Small
Type Sector Focused
DESCRIPTION

The Mendota Group is a private investment firm that targets Midwest US-based investments in low to medium technology manufacturing, distribution, and service-related companies. Prospective acquisitions are either privately owned or subsidiaries/divisions of publicly owned companies. Mendota typically seeks businesses with revenues between $5 and $20 million and valued less then $20 million. The Mendota Group is based in Madison, Wisconsin.


DEAL STATS #
Overall 6 of 10
Sector (Metals/Mining) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 6 of 9
State (Minnesota) 3 of 3
Country (United States) 6 of 10
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-03 Door Engineering & Manufacturing

Kasota, Minnesota, United States

Door Engineering & Manufacturing LLC is a manufacturer of custom design and engineered doors for specialty industrial applications, the aviation industry, governmental sectors and agribusiness. Products manufactured include; Bottom Rolling Hanger Doors, Four-Fold and Bi-Fold Doors, Craneway Doors, Vertical Lift Doors, Fire Doors, Industrial Sliding Doors and Clean Room Doors.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-06 Debron Industrial Electronics

Troy, Michigan, United States

Debron Industrial Electronics is a full-service turnkey provider of value-added electronics manufacturing to the industrial, automotive, aerospace, and energy end markets. Debron Industrial Electronics provides design, layout, engineering, and manufacturing of electronic controls, integrates them into assemblies (box build), and provides additional value-added services such as kitting, packaging, and direct delivery to the end customer. Debron is an expert at both series production as well as quick-turn prototypes and serves industries requiring the highest quality standards as evidenced by their IATF 16949:2016 certification. Debron Industrial Electronics was founded in 1981 and is based in Troy, Michigan.

Buy -
Buyer

Aldine Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Aldine Capital Partners is a mezzanine investment firm that provides mezzanine and junior capital financing to lower middle-market companies generating sales of at least $10 million and at least $2 million in EBITDA. Aldine invests in the range of $4 to $25 million per transaction. Types of transactions include management buyouts, acquisition financings, shareholder liquidity events, recapitalizations, and growth financings of smaller middle-market companies. Aldine will consider investments across the United States, but has a primary focus on opportunities in the Midwest. The Firm will not consider investments in start-ups, turnarounds, real estate, insurance, banking, and oil/gas. Aldine Capital was formed in 2005 and is based in Chicago, Illinois.


DEAL STATS #
Overall 33 of 66
Sector (Metals/Mining) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 17 of 24
State (Minnesota) 2 of 4
Country (United States) 33 of 66
Year (2017) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-18 Corporate Imaging Concepts

Northbrook, Illinois, United States

Corporate Imaging Concepts, Inc. provides branded promotional products and online company store portals for some of the country’s largest corporations. CIC’s game-changing LEIF technology solution leads the industry in customer satisfaction through supply chain efficiencies. The Company’s commitment to technology advancements, combined with a workforce dedicated to exceeding customer expectations, has resulted in steady double-digit growth along with industry recognition as a sales leader and one of the best places to work.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-30 K&H Pet Products

Colorado Springs, Colorado, United States

K&H Manufacturing LLC is a producer of premium pet supplies and the largest marketer of heated pet products in the country. K&H sells branded pet products under the K&H and K&H Pets brands. K&H produces innovative pet products that span several categories, including dog and cat, small animal, and farm and ranch. K&H Manufacturing was founded in 1998 and is based in Colorado Springs, Colorado.

Sell -