M&A Deal Summary

Genstar Capital and Harvest Partners Structured Capital Acquire Marcone

On June 1, 2021, private equity firms Genstar Capital and Harvest Partners Structured Capital acquired distribution company Marcone from Sterling Investment Partners

Acquisition Highlights
  • This is Genstar Capital’s 2nd and Harvest Partners Structured Capital’s 1st transaction in the Distribution sector.
  • This is Genstar Capital’s 89th and Harvest Partners Structured Capital’s 29th transaction in the United States.
  • This is Genstar Capital’s 2nd and Harvest Partners Structured Capital’s 1st transaction in Missouri.

M&A Deal Summary

Date 2021-06-01
Target Marcone
Sector Distribution
Buyer(s) Genstar Capital
Harvest Partners Structured Capital
Sellers(s) Sterling Investment Partners
Deal Type Secondary Buyout

Target

Marcone

St Louis, Missouri, United States
website
Marcone is a distributor of original equipment parts for the repair of residential appliances in the United States and Canada. Marcone's customer base is comprised of thousands of residential appliance repair service providers and technicians, as well as extended warranty providers. Marcone is based in St Louis, Missouri.

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Buyer(S) 2

Buyer

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 49.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.


DEAL STATS #
Overall 96 of 107
Sector (Distribution) 2 of 3
Type (Secondary Buyout) 39 of 47
State (Missouri) 2 of 2
Country (United States) 89 of 99
Year (2021) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-14 Vector Solutions

Tampa, Florida, United States

Vector Solutions is a provider of SaaS-based compliance and safety-focused eLearning and performance optimization solutions serving three end-markets: Public Sector, Education, and Commercial. Vector’s solutions are underpinned by the company’s library of proprietary content (over 7,500 courses with over 30,000 associated accreditations) which is delivered through a SaaS-based software platform to address customers’ mission critical compliance, safety, and regulatory needs. Vector Solutions was founded in 1999 and is based in Tampa, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-09 2020

Laval, Quebec, Canada

2020 is a provider of computer-aided design, business and manufacturing software tailored for the interior design and furniture industries. The company has developed an unmatched depth of knowledge of interior design and space planning to maintain an unbroken history of the market and thought leadership. Its customers include many of the world’s largest home improvement retailers and manufacturers, as well as tens of thousands of local, independent kitchen and bathroom dealers. 2020 was founded in 1987 and is based in Laval, Quebec.

Buy -
DESCRIPTION

Harvest Partners Structured Capital is a private investment group focused on minority position, non-control investments. The Group looks for businesses with $100 million to $1 billion in revenues where Harvest can commit $50 to $250 million. Sectors of interest include business services, consumer services, healthcare, industrial services, manufacturing, and distribution. Harvest Partners Structured Capital is a unit of PE Firm Harvest Partners. The Firm is based in New York City.


DEAL STATS #
Overall 30 of 31
Sector (Distribution) 1 of 1
Type (Secondary Buyout) 11 of 12
State (Missouri) 1 of 1
Country (United States) 29 of 30
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Vincit

Chattanooga, Tennessee, United States

Vincit is a provider of food safety and pathogen control services for the protein industry. Vincit plays an important role in ensuring compliance with food safety standards and protecting the food supply chain. They have a large presence throughout the U.S. and serves a blue chip customer base across the food and beverage industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-28 PRO Unlimited

San Francisco, California, United States

PRO Unlimited is a provider of contingent workforce management solutions through a managed services program (“MSP”) and cloud-based vendor management software (“VMS”). PRO Unlimited was founded in 1991 and is based in San Francisco, California

Sell -

Seller(S) 1

SELLER

Sterling Investment Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1991
PE ASSETS 2.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sterling Investment Partners is a private equity firm that seeks investments in middle-market businesses with strong market share and high growth potential. Sterling looks for companies generating revenues of $50 to $500 million and EBITDA of $15 to $50 million. Sectors of interest include outsourcing/business services, niche manufacturing & industrial, transportation & logistics, unique distribution, technology-related, energy services, and consumer products & services. Sterling Investment Partners dates back to 1991 and is based in Westport, Connecticut.


DEAL STATS #
Overall 18 of 22
Sector (Distribution) 3 of 3
Type (Secondary Buyout) 10 of 12
State (Missouri) 1 of 2
Country (United States) 18 of 22
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-08 Anser Advisory

Cypress, California, United States

Anser Advisory is a national firm specializing in capital program funding, program management, project management, construction management, and executive advisory services. The firm provides program advisory services to clients across the country in industries that include transportation, higher education, K-12 education, industrial, federal, state, and local government, healthcare, hospitality, and housing. Anser Advisory is based in Santa Ana CA, Boston MA, Orlando FL, San Francisco CA, Atlanta GA, and now Clinton, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-26 All My Sons

Carrollton, Texas, United States

All My Sons offers full-service moving for customers and businesses locally and across state lines. First-rate services include, in addition to moving, quilt-pad wrapping of furniture and disassembly and reassembly of the same, packing, and unpacking. All My Sons Moving & Storage was formed in 1989 and is based in Carrollton, Texas.

Sell -