M&A Deal Summary

L Squared Capital Partners, Graycliff Partners and Five Points Capital Acquire Raptor Scientific

On September 10, 2019, private equity firms L Squared Capital Partners, Graycliff Partners and Five Points Capital acquired test/measurement equipment company Raptor Scientific

Acquisition Highlights
  • This is L Squared Capital Partners’ 1st, Graycliff Partners’ 1st and Five Points Capital’s 1st transaction in the Test/Measurement Equipment sector.
  • This is L Squared Capital Partners’ 6th, Graycliff Partners’ 42nd and Five Points Capital’s 74th transaction in the United States.
  • This is L Squared Capital Partners’ 1st, Graycliff Partners’ 1st and Five Points Capital’s 2nd transaction in Connecticut.

M&A Deal Summary

Date 2019-09-10
Target Raptor Scientific
Sector Test/Measurement Equipment
Buyer(s) L Squared Capital Partners
Graycliff Partners
Five Points Capital
Deal Type Consolidation

Target

Raptor Scientific

Berlin, Connecticut, United States
website
Raptor Scientific is a provider of measurement and testing solutions to Aerospace & Defense companies. Raptor Scientific was founded in 2019 and is based in Berlin, Connecticut.

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Buyer(S) 3

DESCRIPTION

L Squared Capital Partners is a private investment group focused on long-term investments in lower middle-market growth companies with $10 to $100 million in revenue. The Firm looks to commit $10 to $100 million per transaction and will consider opportunities throughout North America. Sectors of interest include tech-enabled services, industrial technology, and education. L Squared Capital was established in 2014 and is headquartered in Newport Beach, California.


DEAL STATS #
Overall 6 of 13
Sector (Test/Measurement Equipment) 1 of 1
Type (Consolidation) 1 of 1
State (Connecticut) 1 of 1
Country (United States) 6 of 13
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-13 Virtium

Rancho Santa Margarita, California, United States

Virtium manufactures industrial-grade, ruggedized memory and storage solutions that can withstand extreme conditions and have long useful lives. The Company’s hardware is sold in conjunction with software-enabled solutions, providing a fully integrated system of industrial applications to industrial OEMs. Virtium’s solutions are used in areas such as network routers, transportation, gaming and cell phone towers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-18 GWS Tool

Tavares, Florida, United States

GWS Tool is a manufacturer of engineered custom, standard, and modified standard cutting tools, primarily servicing the aerospace and defense, power generation, automotive, and medical sectors. GWS Tool was formed in 2014 and is based in Tavares, Florida.

Buy -
Buyer

Graycliff Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1991
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Graycliff Partners is a private equity firm focused on private equity and mezzanine investments in middle-market companies throughout the US. The Firm's mezzanine practice does not have any sector preferences and looks to invest $10 to $50 million in profitable companies with at least $10 million in revenue. Funds are used to support buyouts, growth needs, divestitures, or consolidations. Graycliff's private equity group looks to acquire middle-market companies in the manufacturing, service, and distribution sectors. The Firm looks for businesses with $10 to $200 million of revenue. Graycliff Partners was established in 1991 and is based in New York City.


DEAL STATS #
Overall 47 of 71
Sector (Test/Measurement Equipment) 1 of 1
Type (Consolidation) 1 of 1
State (Connecticut) 1 of 1
Country (United States) 42 of 66
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-30 Naumann Hobbs Material Handling

Phoenix, Arizona, United States

Naumann Hobbs Material Handling is a full-service material handling dealership that leases, sells, and services a variety of electric and internal combustion forklifts and other commercial products. Naumann Hobbs operates along five lines of business that work together to provide the most attractive value proposition in this sector in the southwestern United States. Naumann Hobbs Material Handling was founded in 1949 and is based in Phoenix, Arizona.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-10 CSAT Solutions

Houston, Texas, United States

CSAT Solutions is a provider of fully-integrated electronic and digital device diagnostics and repair solutions. CSAT serves diverse end markets such as consumer electronics, industrial equipment and components, and medical devices and equipment. CSAT Solutions wounded in 1987 and headquartered in Houston, Texas.

Sell -
Buyer

Five Points Capital

Winston-Salem, North Carolina, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Five Points Capital makes both direct private equity and junior capital investments in US-based middle-market companies. Five Points prefers control based investments and will consider opportunities in a variety of industries. For both equity and mezzanine investments, the Firm looks to commit $5 to $25 million of capital in businesses with at least $10 million in sales and $3 million of EBITDA. Five Points Capital was formerly known as BB&T Capital Partners and re-branded in 2015. The Firm was established in 1997 and is based in Winston-Salem, North Carolina.


DEAL STATS #
Overall 74 of 89
Sector (Test/Measurement Equipment) 1 of 1
Type (Consolidation) 2 of 2
State (Connecticut) 2 of 2
Country (United States) 74 of 89
Year (2019) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-09 Revela Foods

New Berlin, Wisconsin, United States

Revela Foods is a provider of dairy flavorings, cheese sauces, seasonings, and functional cheese. Revela Foods provides customers with a full-service cheese ingredient offering from product development through final manufacturing. Revela Foods was founded in 1986 and is based in New Berlin, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-12 Industrial Valve

Eight Mile, Alabama, United States

Industrial Valve is a provider of specialty valve repair services and distributor of new and refurbished valves to an impressive base of blue-chip customers. IVS focuses on providing mission-critical inspection, maintenance and repair services for safety, manual and control valves within the Power, Paper, Chemical and Oil & Gas end markets. Industrial Valve was founded in 1975 and is based in Eight Mile, Alabama.

Buy -