M&A Deal Summary |
|
|---|---|
| Date | 2021-11-23 |
| Target | Race Winning Brands |
| Sector | Automotive |
| Buyer(s) | MiddleGround Capital |
| Sellers(s) |
Kinderhook Industries
Antares Capital Apogem Capital |
| Deal Type | Secondary Buyout |
| Advisor(s) | Kirkland & Ellis (Legal) |
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| Category | Private Equity Firm |
|---|---|
| Founded | 2018 |
| PE ASSETS | 3.0B USD |
| Size | Large |
| Type | Sector Focused |
MiddleGround Capital is a middle-market private equity firm focused on acquiring North American companies valued up to $500 million. MiddleGround looks to commit $20 to $350 million per transaction and generally pursues investments in fundamentally good businesses that align with its operational expertise. Areas of interest include B2B industrial and specialty distribution. MiddleGround Capital was formed in 2018 and has offices in Lexington, Kentucky and New York City.
| DEAL STATS | # |
|---|---|
| Overall | 11 of 18 |
| Sector (Automotive) | 3 of 4 |
| Type (Secondary Buyout) | 7 of 9 |
| State (Ohio) | 5 of 5 |
| Country (United States) | 10 of 13 |
| Year (2021) | 4 of 4 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-11-05 |
Lindsay Precast
Canal Fulton, Ohio, United States Lindsay Precast is a designer and manufacturer of engineered precast concrete structures for water/wastewater, utility, solar, transportation, and government end markets. It produces sanitary and storm sewer products, electrical and telecom utility products, solar inverter skids and ballast bases, box culverts and bridge products, and various other products, for its diverse customer base that includes state and municipal government entities, utility companies, renewable energy companies, and the federal government. Lindsay Precast is based in Canal Fulton, Ohio. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2022-07-19 |
PVI Holdings
Baton Rouge, Louisiana, United States PVI is a flow control distributor focused on serving MRO applications across marine, chemical, downstream energy, and other industrial end markets. PVI provides both third party and proprietary branded products alongside its in-house engineering and repair services. PVI operates three separate business units: Setpoint Integrated Solutions, a distributor of valves, actuators, and instrumentation primarily to the chemical and downstream energy end markets; W&O Supply, a global distributor of technical flow control products and solutions to the global military and commercial maritime markets; and AT Controls, a designer and manufacturer of valves, actuators, and process control accessories for a broad range of industrial end markets. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 2003 |
| PE ASSETS | 5.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
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 | 37 of 40 |
| Sector (Automotive) | 7 of 7 |
| Type (Secondary Buyout) | 4 of 4 |
| State (Ohio) | 2 of 2 |
| Country (United States) | 36 of 39 |
| Year (2021) | 7 of 7 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-10-13 |
Coleman Powersports
Tempe, Arizona, United States Coleman Powersports is a producer of entry-level powersports equipment sold through "Big Box" retailers. The company has solidified itself as the market leader in Mini bikes, Go karts, All Terrain Vehicles ("ATVs") and Utility Task Vehicles ("UTVs") sold outside of the traditional dealership channel. With a focus on supply chain and its network of 8,000+ post-sale service centers, it has successfully "created the category" of selling powersports to "Big Box" retailers or other non-dealer accounts. Coleman Powersports was formed in 2010 and is based in Tempe, Arizona. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2022-01-04 |
Medical Card System
Hato Rey, Puerto Rico Medical Card System provides commercial health insurance through its fully-insured and cost-plus business lines to some of the largest multi-national employers in Puerto Rico, such as Baxter, Pfizer, HP, Nestlé and Microsoft. Medical Card System was founded in 1982 and is based in Hato Rey, Puerto Rich. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1993 |
| Size | Small |
| Type | Sector Agnostic |
Antares Capital is a private investment group that targets growth capital financings as well as management buyout opportunities. The Firm focuses on investments based in the Southeast US and Texas. Prospective companies generally have proven business models, modest capital requirements for growth, and operate in large and growing markets. The Firm looks to commit $500k to $5 million per investment. Antares will not invest in real estate, mineral exploration, distributors, franchisees, or project financings. Antares was founded in 1993 and is based in Miami, Florida.
| DEAL STATS | # |
|---|---|
| Overall | 38 of 42 |
| Sector (Automotive) | 2 of 2 |
| Type (Secondary Buyout) | 12 of 13 |
| State (Ohio) | 5 of 5 |
| Country (United States) | 37 of 41 |
| Year (2021) | 3 of 3 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-10-19 |
Agape Care Group
Spartanburg, South Carolina, United States Agape Care Group is a hospice, palliative, and pediatric comfort care provider expanding across the Southeast region. Agape Care Group was founded year 1997 and is based in Spartanburg, South Carolina. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2022-03-02 |
West Star Aviation
East Alton, Illinois, United States West Star Aviation is a provider of maintenance, repair, and overhaul (“MRO”) and related support services to the business aviation industry. All aspects of aviation maintenance and total product rebuild from propjet to large jet products. West Star Aviation was founded in 1952 and is based in East Alton, Illinois. |
Sell | - |
| Category | Asset Manager |
|---|---|
| Founded | 2001 |
| PE ASSETS | 39.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
Apogem Capital is a diversified alternative investment manager and subsidiary of insurance provider, New York Life. Apogem manages a variety of investment strategies including private equity, private credit, and real assets. Within private equity, the Firm looks to make fund, direct, and secondary investments, as well as acquire GP stakes. Within its direct investing activity, Apogem targets mid-sized companies valued up to $250 million and will consider businesses throughout North America and Europe. Apogem Capital formed as the result of New York Life combining PA Capital, Madison Capital Funding, and Goldpoint Partners into one entity. Apogem Capital is based in New York City.
| DEAL STATS | # |
|---|---|
| Overall | 42 of 49 |
| Sector (Automotive) | 1 of 3 |
| Type (Secondary Buyout) | 20 of 23 |
| State (Ohio) | 3 of 6 |
| Country (United States) | 42 of 49 |
| Year (2021) | 3 of 3 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-11-02 |
T2 Systems
Indianapolis, Indiana, United States T2 Systems is a provider of unified SaaS (Software as a Service) parking management solutions. T2 Systems's comprehensive portfolio of services includes solutions that help organizations manage parking permits, citations, gated parking facilities, and special events. T2 Systems was established in 1994 and is based in Indianapolis, Indiana. |
Sell | $356M |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2022-01-05 |
dlhBOWLES
Canton, Ohio, United States dlhBOWLES is a supplier of innovative engineered plastic solutions to many of the largest corporations and most recognizable brands around the globe in the automotive and consumer products industries. The company designs and manufactures automotive products for camera and sensor wash systems, windshield washer systems, powertrain, chassis, and sunroof products. It also provides solutions for a wide array of consumer products in the areas of consumer sprays, plumbing, irrigation, and other diverse applications. dlhBOWLES was founded in 1961 and is based in Canton, Ohio. |
Sell | $255M |
