M&A Deal Summary

Centerfield Capital Partners and Source Capital Acquire Backyard Products

On November 1, 2005, mezzanine finance firm Centerfield Capital Partners and private equity firm Source Capital acquired building materials company Backyard Products

Acquisition Highlights
  • This is Centerfield Capital Partners’ 1st and Source Capital’s 1st transaction in the Building Materials sector.
  • This is Centerfield Capital Partners’ 12th and Source Capital’s 5th transaction in the United States.
  • This is Centerfield Capital Partners’ 1st and Source Capital’s 1st transaction in Michigan.
Investment Fate
  • Backyard Products was sold to a consortium of financial buyers in 2017.

M&A Deal Summary
Date 2005-11-01
Target Backyard Products
Sector Building Materials
Buyer(s) Centerfield Capital Partners
Source Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Backyard Products

Monroe, Michigan, United States
website
Backyard Products is a designer, manufacturer, and marketer of ready-to-assemble and installed wood-based storage buildings and other outdoor structures. Its product lines include storage buildings and accessories, gazebos, playhouses, and playsets. Backyard Products was formed in 1975 and is based in Monroe, Michigan.

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Buyer(S) 2

Buyer

Centerfield Capital Partners

Indianapolis, Indiana, United States

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 2001
PE ASSETS 800M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Centerfield Capital Partners is a private investment firm that provides subordinated debt and equity capital to mid-market companies. Prospective transactions include acquisition financings, management buyouts, shareholder liquidity needs, recapitalizations, corporate divestitures, ESOP financings, and sponsored/unsponsored transactions. Centerfield generally invests in companies with sales of $15 to $100 million and EBITDA of $3 to $15 million. Target sectors include manufacturing, business services, healthcare services, and transportation/distribution. Centerfield will not invest in early stage businesses, turnaround situations, retail, real estate, and finance companies. Centerfield Capital Partners was founded in 2001 and is based in Indianapolis, Indiana.

DEAL STATS #
Overall 12 of 78
Sector (Building Materials) 1 of 3
Type (Buyout (LBO, MBO, MBI)) 8 of 32
State (Michigan) 1 of 6
Country (United States) 12 of 78
Year (2005) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-01 eGIX

Carmel, Indiana, United States

eGIX, Inc. provides voice and data communications services to small and medium sized businesses. eGix serves as a single source for reliable unified voice and data solutions, Internet access, VoIP applications, local line services and a full suite of enhanced services, including unified communications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-19 Coast Composites

Irvine, California, United States

Coast Composites, Inc. is a designer and manufacturer of an aerospace tooling systems for defense and commercial aerospace and space/satellite industries.

Sell -
Buyer

Source Capital

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor

website

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

Source Capital is a private equity firm that invests in mature, smaller companies in a variety of sectors. The Firm generally looks to support management-backed leveraged acquisitions, recapitalizations, growth financings, and various turnaround situations. Source Capital's broad industry focus includes business services, consumer, distribution/supply, healthcare, and light manufacturing. The Firm prefers control investments, but will selectively review minority situations. Target companies are typically profitable with at least $2 million in EBITDA. Source Capital will not invest in venture deals, high tech, or real estate. Source Capital was formed in 2002 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 5 of 36
Sector (Building Materials) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 4 of 19
State (Michigan) 1 of 3
Country (United States) 5 of 36
Year (2005) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-01 Pro Care Emergency Medical Service

Lawrenceville, Georgia, United States

Pro Care Emergency Medical Service provides scheduled and emergency ambulance transportation services throughout the metro Atlanta market and surrounding regions. Pro Care Emergency Medical Service has both exclusive and non-exclusive contracts with hospitals, hospice centers, municipalities, and assisted-living facilities to transport patients. Pro Care Emergency Medical Service is based in Lawrenceville, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-01 RACE Holdings

Erwin, Tennessee, United States

RACE Holdings, LLC is the second largest provider of low-level (class A waste) radioactive waste processing services in the United States. Based in Memphis, Tennessee, RACE provides services to the 103 U.S. based nuclear power generators as well as U.S. government decommissioning and decontamination projects. Studsvik acquired RACE in 2006.

Sell -
Mergr

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