M&A Deal Summary

Mosaic Capital Partners and Graycliff Partners Acquire Custom Profile

On April 25, 2019, mezzanine finance firm Mosaic Capital Partners and private equity firm Graycliff Partners acquired plastics company Custom Profile from Convergent Capital Partners and Blackford Capital

Acquisition Highlights
  • This is Mosaic Capital Partners’ 1st and Graycliff Partners’ 2nd transaction in the Plastics sector.
  • This is Mosaic Capital Partners’ 8th and Graycliff Partners’ 40th transaction in the United States.
  • This is Mosaic Capital Partners’ 1st and Graycliff Partners’ 2nd transaction in Michigan.

M&A Deal Summary
Date 2019-04-25
Target Custom Profile
Sector Plastics
Buyer(s) Mosaic Capital Partners
Graycliff Partners
Sellers(s) Convergent Capital Partners
Blackford Capital
Deal Type Secondary Buyout
Advisor(s) Stout Risius Ross LLC (Financial)

Target

Custom Profile

Grand Rapids, Michigan, United States
website
Custom Profile is a manufacturer of plastic profile extruded products primarily for the office furniture, appliance, medical, recreational and RV industry, and point-of-purchase markets. Custom Profile has diverse and flexible manufacturing capabilities with the ability to satisfy a variety of customer demand requirements. Custom Profile was founded in 1992 and is based in Grand Rapids, Michigan.

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Buyer(S) 2

Buyer

Mosaic Capital Partners

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 2011
Size Small
Type Sector Agnostic
DESCRIPTION

Mosaic Capital Partner is a private investment firm focused on providing equity and mezzanine capital to lower middle-market companies with at least $10 million in revenue. The Firm has a special interest in companies with ESOPs and will consider businesses operating in a range of sectors including business services, chemicals, consumer products, environmental, food/beverages, healthcare services, distribution, machinery, and niche manufacturing. The Firm's geographic preference is businesses in the Southeast, Midwest, and Mid-Atlantic US. Mosaic Capital Partners was formed in 2011 and is headquartered in Charlotte, North Carolina.

DEAL STATS #
Overall 8 of 9
Sector (Plastics) 1 of 1
Type (Secondary Buyout) 2 of 3
State (Michigan) 1 of 1
Country (United States) 8 of 9
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-16 Sayers Technology

Vernon Hills, Illinois, United States

Sayers Technology is a provider of data center infrastructure and enterprise security products and other IT solutions to over 250 large and middle-market enterprises in various sectors, including financial services, insurance, healthcare, manufacturing, and utilities. Sayers Technology was founded in 1984 and is based in Vernon Hills, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-16 NuSource Financial

Eden Prairie, Minnesota, United States

NuSource Financial is a provider of ATM services, equipment, and commercial security systems company focused on serving financial institutions. NuSource Financial was formed in 1999 and is based in Eden Prairie, Minnesota.

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 45 of 71
Sector (Plastics) 2 of 3
Type (Secondary Buyout) 10 of 10
State (Michigan) 2 of 3
Country (United States) 40 of 66
Year (2019) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-26 Harmon Hall

Mexico City, Mexico

Harmon Hall is a provider of english language school chain. Harmon Hall Holding is based in Mexico City.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-14 Ingredients PLUS

Rochester, New York, United States

Ingredients PLUS is a manufacturer and distributor of essential liquid and dry sweeteners for quick service restaurant, specialty beverage, bakery, confectionery, and pharmaceutical customers, among others. Ingredients PLUS processes bulk sugar into a diverse range of products including bagged white and brown sugars, organic products, liquid sucrose, and corn syrups. Ingredients PLUS was founded in 1983 and is based in Rochester, New York.

Buy -

Seller(S) 2

SELLER

Convergent Capital Partners

Investor Investor Investor

website

Category Growth Capital Firm
Founded 1999
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Convergent Capital is a private investment firm that provides growth and debenture financing to late-stage growth companies. Convergent prefers to commit $3 to $12 million per transaction in businesses with at least $10 million in revenues. Convergent is a generalist investor and will consider businesses in a wide range of industries. Investment funds are typically used to assist growth, but the firm can also structure investments around buyouts, recapitalizations, consolidations, and add-on acquisitions. Convergent is licensed as a SBIC. Convergent Capital was formed in 1999 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 38 of 42
Sector (Plastics) 1 of 1
Type (Secondary Buyout) 7 of 8
State (Michigan) 2 of 2
Country (United States) 38 of 42
Year (2019) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-01 BSI

Delray Beach, Florida, United States

Best Security Industries, Inc. is a manufacturer and distributor of compatible electronic article surveillance products (EAS) tags, labels, and systems that retailers install to prevent shoplifting. Best Security Industries was founded in 1987 and is based in Delray Beach, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-02 Versare Solutions

Minneapolis, Minnesota, United States

Versare Solutions a manufacturer and e-commerce-based marketer of branded space efficiency and acoustical products. The company offers portable room partitions, privacy screens, workstations, and sound dampening products for use in a wide variety of applications and settings including schools, religious organizations, and healthcare facilities. Its branded products are manufactured at its Minneapolis headquarters and customizable to suit the needs of a highly diverse customer base. Versare Solutions was founded in 2006 and is based in Minneapolis, Minnesota.

Sell -
SELLER

Blackford Capital

Grand Rapids, Michigan, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2000
Size Small
Type Sector Agnostic
DESCRIPTION

Blackford Capital is a private investment firm that targets mature or growth-oriented manufacturing, distribution, and service companies located in North America. Specific areas of interest include paper; rubber and miscellaneous plastics; stone, clay, and glass products; primary metal industries; fabricated metal products; industrial machinery and equipment; and electronics and other electrical equipment. Blackford prefers situations where management is seeking to retire or exit. The Firm's target revenue range is between $20 and $100 million. Blackford Capital Partners was formed in 2000 and is based in Grand Rapids, Michigan.

DEAL STATS #
Overall 10 of 18
Sector (Plastics) 1 of 1
Type (Secondary Buyout) 1 of 4
State (Michigan) 2 of 5
Country (United States) 9 of 17
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-01 BSI

Delray Beach, Florida, United States

Best Security Industries, Inc. is a manufacturer and distributor of compatible electronic article surveillance products (EAS) tags, labels, and systems that retailers install to prevent shoplifting. Best Security Industries was founded in 1987 and is based in Delray Beach, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-14 Ellison Bakery

Fort Wayne, Indiana, United States

Ellison Bakery is a producer of cookies, snack bars, crunch and inclusion, and other products for the industrial market, foodservice industry, and retail and private label space. Ellison Bakery was founded in 1945 and is based in Fort Wayne, Indiana.

Sell -
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