M&A Deal Summary

PNC Mezzanine Capital and Sier Capital Partners Acquire RESCON

On August 21, 2017, mezzanine finance firm PNC Mezzanine Capital and private equity firm Sier Capital Partners acquired construction company RESCON

Acquisition Highlights
  • This is PNC Mezzanine Capital’s 2nd and Sier Capital Partners’ 1st transaction in the Construction sector.
  • This is PNC Mezzanine Capital’s 54th and Sier Capital Partners’ 1st transaction in the United States.
  • This is PNC Mezzanine Capital’s 2nd and Sier Capital Partners’ 1st transaction in Massachusetts.

M&A Deal Summary
Date 2017-08-21
Target RESCON
Sector Construction
Buyer(s) PNC Mezzanine Capital
Sier Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

RESCON

Newton, Massachusetts, United States
website
RESCON is a provider of 24/7 emergency disaster restoration and reconstruction services for commercial and residential properties. RESCON is a preferred service provider for the largest insurance companies because of experience, integrity, and compassion. Whether dealing with water or fire damage, mold remediation, or other disaster are committed to giving back what disaster took. RESCON was founded in 2016 and is based in Newton, Massachusetts.

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Buyer(S) 2

Buyer

PNC Mezzanine Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

PNC Mezzanine Capital is the subordinated debt investing arm of PNC Bank. PNC Mezzanine looks to provide $10 to $50 million of junior capital to middle-market companies in a variety of industries. Prospective companies generally have revenues of $20 million and EBITDA greater than $4 million. Broad sectors of interest include niche manufacturing, value-added distribution, and business or consumer services. PNC will not invest in early-stage or technology-driven businesses; real estate, commodity-based or capital-intensive companies; businesses with high customer or vendor concentration; or declining businesses. PNC Mezzanine was formed in 1989 and is based in Pittsburgh, Pennsylvania.

DEAL STATS #
Overall 57 of 77
Sector (Construction) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 27 of 38
State (Massachusetts) 2 of 2
Country (United States) 54 of 73
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-27 Stampede

Bridgeview, Illinois, United States

Stampede is a provider of value-added beef products for a nationwide blue-chip customer base that includes leading national restaurant chains, quick service restaurants, foodservice distributors, home delivery networks and grocery retailers. Stampede customizes its protein products to specifications which include portion size, tenderizing, seasoning, marinating, breading, cooking, and packaging. Stampede was formed in 1995 and is based in Bridgeview, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 Metal Spinners

Angola, Indiana, United States

Metal Spinners, Inc.serves the fragmented, high-value added, low-volume market for spun metal products. Metal products are typically spun versus stamped when volumes are too low to justify stamping tooling and production run times.

Sell -
Buyer

Sier Capital Partners

Investor Investor Investor

website

Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Sier Capital Partners is a private investment firm focused on partnering with successful lower middle-market companies. Sier is sector agnostic however the Firm has a particular interest in businesses with recurring revenue business models and that operate in fragmented industries. Target companies are typically profitable with at least $2 million of EBITDA. Sier Capital Partners was formed in 2002 and is headquartered in Akron, Ohio.

DEAL STATS #
Overall 1 of 4
Sector (Construction) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 1 of 2
State (Massachusetts) 1 of 1
Country (United States) 1 of 4
Year (2017) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-14 ILS

Morrisville, North Carolina, United States

ILS is a contract research organization that provides a comprehensive range of toxicity testing solutions for government and commercial clients. ILS was founded in 1985 and is based in Morrisville, North Carolina.

Buy -
Mergr

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