M&A Deal Summary

New Mountain Capital Acquires ILC Dover

On February 3, 2020, private equity firm New Mountain Capital acquired manufacturer ILC Dover from Behrman Capital

Acquisition Highlights
  • This is New Mountain Capital’s 1st transaction in the Manufacturing sector.
  • This is New Mountain Capital’s 59th transaction in the United States.
  • This is New Mountain Capital’s 2nd transaction in Delaware.
Investment Fate
  • ILC Dover was sold to a publicly-traded strategic buyer in 2024 for 2.3B USD.

M&A Deal Summary
Date 2020-02-03
Target ILC Dover
Sector Manufacturing
Buyer(s) New Mountain Capital
Sellers(s) Behrman Capital
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)
Latham & Watkins (Legal)

Target

ILC Dover

Frederica, Delaware, United States
website
ILC Dover provides high-performance flexible materials for complex government and commercial applications, including bio-pharmaceutical and personal hazmat protection, infrastructure protection, inflatable applications, lighter-than-air airships, and pressurized spacesuits. ILC Dover has manufacturing locations in Delaware, Texas, and Switzerland.

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Buyer(S) 1

Buyer

New Mountain Capital

New York, New York, United States

website

Category Private Equity Firm
Founded 2000
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

New Mountain Capital is a private investment firm focused on investment in public and private companies in a variety of industries. New Mountain generally invests $100 to $500 million per transaction and looks for businesses with strong market positions and high barriers to entry. New Mountain also prefers businesses that succeed in both good and bad economies. Sectors of interest include education, healthcare, business services, federal IT services, media, software, consumer products, logistics, financial services and technologies, and energy. New Mountain Capital was formed in 2000 and is based in New York City.

DEAL STATS #
Overall 63 of 91
Sector (Manufacturing) 1 of 2
Type (Secondary Buyout) 24 of 35
State (Delaware) 2 of 2
Country (United States) 59 of 87
Year (2020) 2 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-16 Classic Collision

Atlanta, Georgia, United States

Classic Collision is a provider of quality auto body repairs with properly trained technicians and the appropriate equipment. Classic Collision was founded in 1983 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-14 Pearce Services

Paso Robles, California, United States

Pearce Services is a provider of engineering, maintenance, and repair services for communications and expansion solutions for the wireline and wireless telecommunications industries. Pearce Services is based in Paso Robles, California.

Buy -

Seller(S) 1

SELLER

Behrman Capital

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1991
PE ASSETS 4.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Behrman Capital is a private equity firm focused on management buyouts, leveraged buildups and recapitalizations of established growth companies. Areas of interest include healthcare, defense, specialty manufacturing, business to business outsourcing, and information technology. Behrman looks to invest in the range from $25 to $125 million of equity capital in companies generating sales of $25 to $250 million. Behrman Capital was formed in 1991. The Firm is based in New York City with an additional office in San Francisco.

DEAL STATS #
Overall 19 of 22
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 7 of 10
State (Delaware) 1 of 1
Country (United States) 19 of 22
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-03 Tresys Technology

Columbia, Maryland, United States

Tresys Technology is a provider of comprehensive cybersecurity solutions that meet the challenges of the most demanding environments in the world. Tresys solutions safeguard classified government networks and ensure the secure delivery of critical industrial, financial and operational data. Along with unparalleled industry expertise, Tresys’ certified and accredited products protect information and ensure that the appropriate data gets to the correct location in a timely and secure manner. Tresys Technology was founded in 1999 and is based in Columbia, Maryland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-07 Shur-Co

Yankton, South Dakota, United States

Shur-Co is a manufacturer of innovative cargo covering and cargo control systems and related accessories for the transportation industry. Customers trust the Company’s family of premium brands to protect and secure valuable cargo, comply with regulations, and minimize risks to drivers and roadways. The Company’s product offering serves applications tied to the agriculture, construction, waste, flatbed, and rail industries. Shur-Co is based in Yankton, South Dakota.

Buy -
Mergr

Product

Company

Legal