M&A Deal Summary

Industrial Opportunity Partners and Norwest Mezzanine Partners Acquire Royston

On March 15, 2018, private equity firm Industrial Opportunity Partners and mezzanine finance firm Norwest Mezzanine Partners acquired manufacturer Royston from Stephens Capital Partners

Acquisition Highlights
  • This is Industrial Opportunity Partners’ 4th and Norwest Mezzanine Partners’ 8th transaction in the Manufacturing sector.
  • This is Industrial Opportunity Partners’ 22nd and Norwest Mezzanine Partners’ 70th transaction in the United States.
  • This is Industrial Opportunity Partners’ 1st and Norwest Mezzanine Partners’ 3rd transaction in Georgia.

M&A Deal Summary

Date 2018-03-15
Target Royston
Sector Manufacturing
Buyer(s) Industrial Opportunity Partners
Norwest Mezzanine Partners
Sellers(s) Stephens Capital Partners
Deal Type Secondary Buyout

Target

Royston

Jasper, Georgia, United States
website
Royston is a designer, manufacturer and installer of custom check-out and merchandising fixtures and equipment. The company’s core customer base consists of convenience store, grocery and mass-merchandise chains across North America. Royston was founded in 1869 and is based in Jasper, Georgia.

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Buyer(S) 2

Buyer

Industrial Opportunity Partners

Evanston, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Industrial Opportunity Partners is a private equity firm focused on acquiring and managing middle-market manufacturing and value-added distribution businesses. IOP looks to invest $15 to $100 million in companies with revenues between $50 and $500 million with an EBITDA of $5 to $50 million. Sectors of interest include building products, electronics, foundry, and casting products, precision machining, stamped and fabricated products, automotive components and steel/metal processing. IOP has a particular investment focus on enhancing the operations and optimizing the cost structures of businesses. Industrial Opportunity Partners was formed in 2005 and is based in Evanston, Illinois.


DEAL STATS #
Overall 24 of 32
Sector (Manufacturing) 4 of 7
Type (Secondary Buyout) 5 of 5
State (Georgia) 1 of 2
Country (United States) 22 of 30
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-01 Coldwater Veneer

Coldwater, Michigan, United States

Coldwater Veneer, Inc. is a manufacturer of specialty hardwood veneer for the global marketplace including end markets such as building products, furniture, home furnishings, and automotive markets. Coldwater Veneer is based in Coldwater, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-22 Toledo Molding & Die

Toledo, Ohio, United States

Toledo Molding & Die, Inc. is a full-service automotive supplier that designs, develops and manufactures highly engineered molded thermoplastic components and assemblies such as interior cockpit modules and air and fluid management products.

Sell $271M
Buyer

Norwest Mezzanine Partners

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Norwest Mezzanine Partners (NMP) is an independent investment firm focused on providing junior capital to support transactions initiated by private equity sponsors. NMP looks to commit up to $50 million per investment. Prospective transaction situations can include buyouts, acquisitions, leveraged buildups or consolidations, recapitalizations, and going privates. NMP will consider opportunities in a wide range of industries, including distribution, manufacturing, healthcare, and consumer products. Norwest Mezzanine Partners is affiliated with private equity firm Norwest Equity Partners. NMP was formed in 2000 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 72 of 88
Sector (Manufacturing) 8 of 9
Type (Secondary Buyout) 21 of 31
State (Georgia) 3 of 4
Country (United States) 70 of 85
Year (2018) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-01 HAT Collective

Easton, Pennsylvania, United States

HAT Collective offers a broad range of well-designed, ergonomic solutions for the contract furniture market. HAT Collective was founded in 1986 and is based in Easton, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-05 SWS Environmental Services

Panama City, Florida, United States

SWS Environmental Services is a provider of emergency response and environmental cleanup services. SWS provides a broad range of essential services including industrial, hazardous waste management, emergency response, marine, and remediation services to the energy, manufacturing, education, healthcare, chemical, transportation, government, and retail sectors.

Sell -

Seller(S) 1

SELLER
DESCRIPTION

Stephens Capital Partners is the direct, private equity investment arm of financial services firm Stephens, Inc. Stephens Capital looks to acquire minority or majority stakes in mid-sized, profitable companies in partnership with management. The Firm will consider opportunities throughout the US valued between $50 and $200 million. Stephens Capital will not consider venture investments or turnaround situations. Stephens Capital Partners is based in Little Rock, Arkansas.


DEAL STATS #
Overall 27 of 36
Sector (Manufacturing) 4 of 4
Type (Secondary Buyout) 11 of 15
State (Georgia) 1 of 2
Country (United States) 27 of 35
Year (2018) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-05 SupplyOne

Newtown Square, Pennsylvania, United States

SupplyOne is a specialty packaging manufacturer and consumable industrial supplies distributors. SupplyOne offers a total systems approach to packaging solutions from design and manufacturing of custom corrugated boxes, engineered protective packaging, load unitizing and product identification labels. SupplyOne was founded in 1998 and is based in Newtown Square, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-07 RedZone Robotics

Warrendale, Pennsylvania, United States

RedZone Robotics is a technology-enabled solutions business that uses proprietary robots and software tools to provide inspection, data collection, and asset management services primarily for wastewater pipeline systems. RedZone Robotics was founded in 1987 and is based in Warrendale, Pennsylvania.

Sell -