M&A Deal Summary

Kinderhook Industries Acquires VESTA Modular

On January 4, 2021, private equity firm Kinderhook Industries acquired construction company VESTA Modular from Balmoral Funds

Acquisition Highlights
  • This is Kinderhook Industries’ 1st transaction in the Construction sector.
  • This is Kinderhook Industries’ 45th transaction in the United States.
  • This is Kinderhook Industries’ 5th transaction in Michigan.
Investment Fate
  • VESTA Modular was sold to a publicly-traded strategic buyer in 2023 for 400M USD.

M&A Deal Summary
Date 2021-01-04
Target VESTA Modular
Sector Construction
Buyer(s) Kinderhook Industries
Sellers(s) Balmoral Funds
Deal Type Secondary Buyout
Advisor(s) GreenbergTraurig (Legal)

Target

VESTA Modular

Southfield, Michigan, United States
website
VESTA Modular is a provider of temporary and permanent modular space solutions across a diverse base of end markets and applications. VESTA Modular operates two divisions modular space leasing whereby it leases units from its owned fleet of over 6,000 units to customers across a range of end markets and modular project installation whereby it facilitates the design, construction, and installation of modular spaces.VESTA Modular was founded in 2014 and is based in Southfield, Michigan.

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Buyer(S) 1

Buyer

Kinderhook Industries

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2003
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kinderhook Industries targets control investments in companies valued between $25 to $250 million. Prospective transaction situations include acquiring non-core divisions of public companies, existing small capitalization companies lacking institutional support, management buyouts of entrepreneurial-owned businesses, and troubled companies. Sectors of interest include consumer products and services, media, packaging, industrial products, communications, and business services. Kinderhook Industries was formed in 2003 and is based in New York, New York.

DEAL STATS #
Overall 46 of 59
Sector (Construction) 1 of 1
Type (Secondary Buyout) 8 of 11
State (Michigan) 5 of 6
Country (United States) 45 of 57
Year (2021) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-30 VirTrial

Scottsdale, Arizona, United States

VirTrial is a provider of software solutions for remote site startup and decentralized clinical trial conduct. VirTrial was founded in 2018 and is based in Scottsdale, Arizona.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-07 AbsoluteCare

Baltimore, Maryland, United States

AbsoluteCare is a value-based integrated healthcare provider, focused on providing comprehensive and preventative care to the most vulnerable and chronically-ill populations. AbsoluteCare offers concierge health services using a risk-bearing, primary care provider-driven care model. AbsoluteCare is headquartered in Baltimore, Maryland.

Buy -

Seller(S) 1

SELLER

Balmoral Funds

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2005
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Balmoral Funds is a private equity firm which targets recapitalizations, special situations, and acquisitions of small and middle-market companies. Typical investment candidates are located in the US or Canada, undergoing operational challenges with up to $400 million of revenue. Sectors of interest include manufacturing, business services, consumer products, retail, and value-added distribution. The Firm's target investment size is $5 to $40 million. Balmoral Funds was established in 2005 and is based in Los Angeles, California.

DEAL STATS #
Overall 4 of 6
Sector (Construction) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Michigan) 1 of 1
Country (United States) 4 of 6
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-01 KP Aviation

Mesa, Arizona, United States

KP Aviation is an aerospace aftermarket sale and leasing company provides essential aftermarket materials and services, catering. KP Aviation is based in Mesa, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-08 Resco Products

Pittsburgh, Pennsylvania, United States

Resco Products is a designer and manufacturer of refractory materials. Refractories are consumable materials used as protective linings for high-temperature furnaces, containers carrying molten metals, and a range of other harsh environment industrial situations. Resco Products was founded in 1946 and is based in Pittsburgh, Pennsylvania.

Buy -
Mergr

Product

Company

Legal