M&A Deal Summary

Mangrove Equity Partners and Hunter Equity Capital Acquire Tioga

On June 28, 2013, private equity firms Mangrove Equity Partners and Hunter Equity Capital acquired electronics company Tioga

Acquisition Highlights
  • This is Mangrove Equity Partners’ 1st and Hunter Equity Capital’s 1st transaction in the Electronics sector.
  • This is Mangrove Equity Partners’ 8th and Hunter Equity Capital’s 1st transaction in the United States.
  • This is Mangrove Equity Partners’ 1st and Hunter Equity Capital’s 1st transaction in Minnesota.
Investment Fate
  • Tioga was sold to a strategic buyer in 2017.

M&A Deal Summary

Date 2013-06-28
Target Tioga
Sector Electronics
Buyer(s) Mangrove Equity Partners
Hunter Equity Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Tioga

Brooklyn Center, Minnesota, United States
website
Tioga designs, manufacture, sale, and rental temporary heaters for energy, mining, oil and gas, commercial construction, and industrial markets. Tioga was founded in 1961 and is based in Brooklyn Center, Minnesota.

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Buyer(S) 2

Buyer

Mangrove Equity Partners

Tampa, Florida, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2007
Size Small
Type Sector Agnostic
DESCRIPTION

Mangrove Equity Partners is a lower-middle market private equity firm focused on investing in North American businesses valued from $10 to $50 million. Mangrove generally targets companies operating in basic industries with defensible market positions and solid growth prospects. Sectors of interest include services, manufacturing, and value-added distribution. Prospective businesses typically have revenues up to $100 million and are profitable with at least $2 million of cash-flow. Target transaction types include management buyouts/buy-ins, recapitalizations, industry, consolidations, family successions, and select turnarounds. Mangrove Equity Partners is based in Tampa, Florida.


DEAL STATS #
Overall 9 of 26
Sector (Electronics) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 3 of 8
State (Minnesota) 1 of 1
Country (United States) 8 of 24
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-03 Turbo Mach

San Antonio, Texas, United States

urbo Mach is a manufacturing operation in the field of high performance composite materials and processes with proficiency in the fabrication of composite structures encompassing molding, forming, bonding and finishing products to serve the aerospace, automotive, marine and medical equipment industries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-08 Excalibur Crossbow

Kitchener, Ontario, Canada

Excalibur Crossbows, Inc. is a manufacturer and marketer of crossbows.

Sell -
DESCRIPTION

Hunter Equity Capital is a private equity firm focused on growth oriented investments and acquisitions of lower middle-market companies throughout the US and Canada. The Firm target profitable ($2 to $5 million of EBITDA) businesses with up to $50 million of revenue. Areas of interest include basic manufacturing, equipment rental, and industrials. Hunter Equity will not invest in biotech, commodities, construction, technology, real estate, retail, restaurants, and software companies. Hunter Equity Capital was formed in 2008 and is headquartered in Chicago.


DEAL STATS #
Overall 1 of 1
Sector (Electronics) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 1 of 1
Year (2013) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-07 Tioga

Brooklyn Center, Minnesota, United States

Tioga designs, manufacture, sale, and rental temporary heaters for energy, mining, oil and gas, commercial construction, and industrial markets. Tioga was founded in 1961 and is based in Brooklyn Center, Minnesota.

Sell -