M&A Deal Summary

Cornerstone Capital Partners and PNC Mezzanine Capital Acquire Eastern Vault

On July 14, 2015, private equity firm Cornerstone Capital Partners and mezzanine finance firm PNC Mezzanine Capital acquired building materials company Eastern Vault

Acquisition Highlights
  • This is Cornerstone Capital Partners’ 2nd and PNC Mezzanine Capital’s 2nd transaction in the Building Materials sector.
  • This is Cornerstone Capital Partners’ 2nd and PNC Mezzanine Capital’s 48th transaction in the United States.
  • This is Cornerstone Capital Partners’ 1st and PNC Mezzanine Capital’s 1st transaction in West Virginia.

M&A Deal Summary

Date 2015-07-14
Target Eastern Vault
Sector Building Materials
Buyer(s) Cornerstone Capital Partners
PNC Mezzanine Capital
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Global Growth Partners Inc. (Financial)

Target

Eastern Vault

Princeton, West Virginia, United States
website
Eastern Vault is a manufacturer of concrete products, supplying the infrastructure and construction markets in North Carolina, West Virginia, and Virginia. Eastern Vault was founded in 1970 and is based in Princeton, West Virginia.

Search 192,297 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 2

DESCRIPTION

Cornerstone Capital Partners, Inc. is a private investment firm specializing in acquiring North American niche industrial, manufacturing, distribution or service businesses with sustainable competitive advantages and identified growth opportunities. Target companies are generally profitable (> $3 million of EBITDA) with $10 to $150 million of annual revenue. The Firm has a preference for businesses with strong management, ability to improve operations, and leading their respective markets. Cornerstone Capital Partners, Inc. was established in 1990 and is headquartered in New York City.


DEAL STATS #
Overall 2 of 4
Sector (Building Materials) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 2 of 4
State (West Virginia) 1 of 1
Country (United States) 2 of 4
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-02 Global IFS

Kentwood, Michigan, United States

Global IFS manufacturers, installs and distributes raised access flooring and underfloor air distribution systems in the Canada and U.S. markets. Global IFS is based in Kentwood, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 Zander Solutions

Verona, Wisconsin, United States

Zander Solutions provides waterproofing solutions, concrete restoration and repair, and foundation improvement services throughout the Upper Midwest. Zander Solutions was founded in 1977 and is based in Verona, Wisconsin.

Buy -
Buyer

PNC Mezzanine Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

PNC Mezzanine Capital is the subordinated debt investing arm of PNC Bank. PNC Mezzanine looks to provide $10 to $50 million of junior capital to middle-market companies in a variety of industries. Prospective companies generally have revenues of $20 million and EBITDA greater than $4 million. Broad sectors of interest include niche manufacturing, value-added distribution, and business or consumer services. PNC will not invest in early-stage or technology-driven businesses; real estate, commodity-based or capital-intensive companies; businesses with high customer or vendor concentration; or declining businesses. PNC Mezzanine was formed in 1989 and is based in Pittsburgh, Pennsylvania.


DEAL STATS #
Overall 50 of 77
Sector (Building Materials) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 24 of 38
State (West Virginia) 1 of 1
Country (United States) 48 of 73
Year (2015) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-14 Better Life Technology

Lenexa, Kansas, United States

Better Life Technology LLC is a manufacturer, designer, marketer and distributor of highly specialized vinyl flooring products and unique printing substrates for multiple end markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-11 Salient Federal Solutions

Fairfax, Virginia, United States

Salient Federal Solutions, Inc. is a provider of technology and engineering services to government agencies, primarily within the intelligence community and the Department of Defense.

Sell -