M&A Deal Summary

Industrial Growth Partners Acquires BMG

On October 9, 2018, private equity firm Industrial Growth Partners acquired machinery company BMG from Tenex Capital Management

Acquisition Highlights
  • This is Industrial Growth Partners’ 6th transaction in the Machinery sector.
  • This is Industrial Growth Partners’ 33rd transaction in the United States.
  • This is Industrial Growth Partners’ 1st transaction in Michigan.

M&A Deal Summary

Date 2018-10-09
Target BMG
Sector Machinery
Buyer(s) Industrial Growth Partners
Sellers(s) Tenex Capital Management
Deal Type Secondary Buyout

Target

BMG

Beaverton, Michigan, United States
website
BMG is a provider of turnkey thermoforming and packaging systems for the food & beverage market. BMG offers a broad portfolio of highly-engineered thermoforming and automation equipment, in addition to best-in-class tooling and a comprehensive offering of post-sale parts, service and support. BMG was founded in 1952 and is based in Beaverton, Michigan.

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Buyer(S) 1

Buyer

Industrial Growth Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1997
PE ASSETS 2.2B USD
Size Large
Type Sector Focused
DESCRIPTION

Industrial Growth Partners (IGP) is a private equity firm that invests in privately held, lower middle-market manufacturing and manufacturing services companies. Specific areas of interest include industrial components and equipment, electrical and electronic equipment, process instrumentation and controls, analytical instruments and measuring devices, filtration and pumps, specialty chemicals, plastics, and healthcare/safety equipment. Prospective transaction situations include management buyouts, leveraged buyouts, corporate divestitures, recapitalizations, management buy-ins, and growth capital financings. Target companies typically are profitable and have annual revenues up to $250 million. IGP was formed in 1997 and is based in San Francisco, California.


DEAL STATS #
Overall 33 of 43
Sector (Machinery) 6 of 7
Type (Secondary Buyout) 15 of 19
State (Michigan) 1 of 1
Country (United States) 33 of 42
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-20 Grakon

Seattle, Washington, United States

Grakon LLC is a designer and manufacturer of highly-engineered and customized lighting systems and components for transportation markets. Grakon was founded in 1977 and is based in Seattle, Washington.

Sell $420M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-13 EPSII

Maryland Heights, Missouri, United States

EPSII is a provider of outsourced electrical engineering, testing, repair, and maintenance services. EPS focuses on highly technical testing and engineering services that occur in electrical substations covering a broad range of equipment including protective relay and control systems, breakers, transformers, batteries, and switchgear. EPSII is founded in 1977 and headquartered in Maryland Heights, Missouri.

Buy -

Seller(S) 1

SELLER
DESCRIPTION

Tenex Capital Management is a private investment group focused on acquiring control positions in profitable North American companies with $3 to $40 million of EBITDA. The Firm does not have any sector preferences and looks to commit up to $125 million per transaction. Tenex Capital Management was formed in 1999 and is based in New York City.


DEAL STATS #
Overall 9 of 23
Sector (Machinery) 3 of 3
Type (Secondary Buyout) 5 of 9
State (Michigan) 1 of 1
Country (United States) 9 of 23
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-01 Smile Design Dentistry

Tampa, Florida, United States

Smile Design Dentistry is a dental service organization with 46 clinics operating across Central Florida, serving 13 counties, primarily in the Tampa and Orlando areas but stretching as far north as Gainesville and as far south as Cape Coral. Smile Design Dentistry was founded in 2000 and is based in Tampa, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-13 Big Bolt

Bloomingdale, Illinois, United States

Big Bolt is a manufacturer of specialty fasteners with best-in-class responsiveness, turnaround times, and quality assurance. Through its comprehensive in-house manufacturing capabilities, Big Bolt is capable of manufacturing non-standard fasteners in lengths of up to or greater than 30-inches with a 0.25-inch to 3.5-inch diameter with high-quality assurance. Big Bolt maintains a large stock of material and finished products in order to fulfill emergency orders in market-leading turnaround times. Big Bolt was founded in 1977 and is based in Bloomingdale, Illinois.

Buy -