M&A Deal Summary

Littlejohn and Prospect Capital Management Acquire Magnate Worldwide

On January 3, 2022, private equity firm Littlejohn and business development company Prospect Capital Management acquired transportation company Magnate Worldwide from Magnate Capital Partners and CIVC Partners

Acquisition Highlights
  • This is Littlejohn’s 3rd and Prospect Capital Management’s 3rd transaction in the Transportation sector.
  • This is Littlejohn’s 55th and Prospect Capital Management’s 83rd transaction in the United States.
  • This is Littlejohn’s 2nd and Prospect Capital Management’s 2nd transaction in Oregon.

M&A Deal Summary
Date 2022-01-03
Target Magnate Worldwide
Sector Transportation
Buyer(s) Littlejohn
Prospect Capital Management
Sellers(s) Magnate Capital Partners
CIVC Partners
Deal Type Secondary Buyout

Target

Magnate Worldwide

Portland, Oregon, United States
website
Magnate Worldwide is a diversified supply chain management company, comprised of a unique portfolio of complementary, premier logistics providers focused on expedited domestic transportation and global freight forwarding. Magnate Worldwide was founded in 2014 and is based in Portland, Oregon.

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Buyer(S) 2

Buyer

Littlejohn

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1996
PE ASSETS 7.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Littlejohn is a private equity firm that makes control investments in mid-sized companies undergoing change; either in capital structure, strategy, operations, or growth. Littlejohn looks to commit $50 to $250 million of equity, mezzanine, or credit capital in companies with annual revenues of $100 to $800 million. Sectors of interest include industrial equipment, packaging, chemicals, automotive and transportation parts and equipment, food and food processing, healthcare, plastics, aerospace/defense, distribution, environmental and infrastructure services, and consumer products. The Firm avoids investing in real estate, fashion, retail, and businesses engaged in high technology. Littlejohn prefers opportunities located in the US, but also considers opportunities in Europe and Canada. Littlejohn was formed in 1996 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 59 of 64
Sector (Transportation) 3 of 3
Type (Secondary Buyout) 26 of 29
State (Oregon) 2 of 2
Country (United States) 55 of 60
Year (2022) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-16 Kaman Distribution

Bloomfield, Connecticut, United States

Kaman Distribution is a distributor of more than six million items including automation, motion control, electro-mechanical, bearings, power transmission, fluid power components, as well as MRO supplies, to customers in virtually every industry. Kaman Distribution was founded in 1971 and is based in Bloomfield, Connecticut.

Sell $1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-31 Great Day Improvements

Macedonia, Ohio, United States

Great Day Improvements is a vertically integrated, direct-to-consumer provider of branded premium home improvement products, including Patio Enclosures brand sunrooms and screen rooms; Stanek brand windows and patio doors; Apex Energy Solutions energy-efficient windows and doors; Hartshorn Custom Contracting pool enclosures and lanais. Great Day Improvements was founded in 1966 and is based in Macedonia, Ohio.

Buy -
Buyer

Prospect Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Business Development Company
Founded 1988
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Capital Corporation is a publicly traded mezzanine debt and private equity firm that primarily provides non-control financing to support growth, recapitalizations, acquisitions, and development. Prospect will selectively consider control acquisitions by providing multiple levels of the capital structure. Prospect was initially formed in 1988 and went public 2004. The Firm is based in New York City.

DEAL STATS #
Overall 86 of 86
Sector (Transportation) 3 of 3
Type (Secondary Buyout) 20 of 20
State (Oregon) 2 of 2
Country (United States) 83 of 83
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-16 Small Tube Products

Duncansville, Pennsylvania, United States

ST Products LLC is a producer of precision redrawn, small diameter, thin wall copper, and specialty alloy tubes. ST Products was founded in 1947 and is based in Duncansville, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-19 Targus

Anaheim, California, United States

Targus is a provider of quality and innovative mobile computer accessories, cases, and bags. Targus was formed in 1983 and is based in Anaheim, California.

Sell $250M

Seller(S) 2

SELLER

Magnate Capital Partners

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2012
Size Small
Type Sector Agnostic
DESCRIPTION

Magnate Capital Partners is a private investment firm. Magnate Capital was formed in 2012 and is based in Chicago, Illinois.

DEAL STATS #
Overall 3 of 3
Sector (Transportation) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Oregon) 1 of 1
Country (United States) 3 of 3
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-27 Paradigm Insurance Group

Oak Brook, Illinois, United States

Paradigm Insurance Group LLC provides insurance with both collaborative and relentless.

Sell -
SELLER

CIVC Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1970
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

CIVC Partners is a private equity firm that provides buyout and growth capital to middle-market businesses located in the US and Canada. CIVC invests in companies generating sales of $40 - $300 million with an EBITDA of $5 to $25 million. Sectors of interest include Business Services, Information Services, Facility Services, Insurance Services, Transportation & Logistics, Tech-enabled Services, BPO, SaaS, Compliance Services, Corporate Training, IT Services, and Utility Services. The firm invests in the range of $20 - $100 million per transaction. CIVC prefers to be the lead equity sponsor and will consider both majority and minority investment situations. CIVC Partners was formed in 1970 and is based in Chicago, Illinois.

DEAL STATS #
Overall 45 of 48
Sector (Transportation) 1 of 1
Type (Secondary Buyout) 18 of 19
State (Oregon) 3 of 3
Country (United States) 44 of 47
Year (2022) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-14 829 Studios

Boston, Massachusetts, United States

829 provides integrated, data-driven digital marketing services to clients across B2C and B2B verticals. 829 Studios was founded in 2007 and is based in Boston, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-21 Specialized Elevator

Santa Fe Springs, California, United States

Specialized Elevator is dedicated to providing courteous, professional elevator services to keep every building’s elevator performing and looking its best. Our end-to-end elevator services include elevator modernization, maintenance, repairs, ADA compliance, and building code upgrades. Specialized Elevator is based in Santa Fe Springs, California.

Sell -
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