M&A Deal Summary

Southfield Capital and Midwest Mezzanine Funds Acquire TS3 Technology

On March 1, 2004, private equity firm Southfield Capital and mezzanine finance firm Midwest Mezzanine Funds acquired electronics company TS3 Technology

Acquisition Highlights
  • This is Southfield Capital’s 1st and Midwest Mezzanine Funds’ 1st transaction in the Electronics sector.
  • This is Southfield Capital’s 2nd and Midwest Mezzanine Funds’ 12th transaction in the United States.
  • This is Southfield Capital’s 1st and Midwest Mezzanine Funds’ 1st transaction in Tennessee.

M&A Deal Summary

Date 2004-03-01
Target TS3 Technology
Sector Electronics
Buyer(s) Southfield Capital
Midwest Mezzanine Funds
Deal Type Buyout (LBO, MBO, MBI)

Target

TS3 Technology

Franklin, Tennessee, United States
website
TS3 is a manufacturer of electronic printed circuit boards, wire harnesses, and cable assemblies as well as a provider of circuit board engineering and design services to companies in the industrial, energy, and business telecommunications markets. TS3 Technology was founded in 1984 and is based in Franklin, Tennessee.

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Buyer(S) 2

Buyer

Southfield Capital

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2002
PE ASSETS 125M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Southfield Capital is a private investment group focused on buying and building lower middle-market businesses headquartered throughout North America. The Firm prefers to control investment situations and looks to commit $20 to $60 million of equity in companies valued from $25 to $125 million. Target sectors include manufacturing, distribution and fulfillment, and specialty services. Southfield avoids investing in agriculture, mining, heavy construction, and hazardous materials. Prospective investment situations include buyouts, consolidations, recapitalizations, and growth financings. Southfield Capital is a successor company to the private investment firm Levison & Company and is based in Greenwich, Connecticut with additional offices in Alexandria, Virginia, and Louisville, Kentucky.


DEAL STATS #
Overall 2 of 19
Sector (Electronics) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 2 of 12
State (Tennessee) 1 of 1
Country (United States) 2 of 16
Year (2004) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-01 Presidio Partners

San Francisco, California, United States

Presidio Partners is a real estate investment bank with a singular focus on providing capital raising and advisory services to real estate fund sponsors, operators, REITs and other real estate market participants. Presidio believes that its emphasis on individualized attention to its clients – working with only a few quality sponsors at any given time – enables it to provide unparalleled client service.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-01 OnPoint Group

Perrysburg, Ohio, United States

OnPoint Group is a North American provider of management and maintenance services for doors, docks, material handling and warehouse accessories through its industry leading divisions: TFS, Miner, TrueSource, and Concentric. Based in Perrysburg, OH, OnPoint Group has more than 600 technicians in over 80 locations to consistently deliver efficiency, safety and productivity to customers responsible for maintaining multifacility operations.

Buy -
Buyer

Midwest Mezzanine Funds

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 1992
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Midwest Mezzanine Funds (MMF) is a provider of junior capital to lower middle-market, US and Canadian companies. MMF looks to invest $4 to $15 million to support buyouts, acquisition financings, recapitalizations, and growth capital needs. Prospective companies generally have consistent profits ($3 million of EBITDA), low capital intensity, and sustainable competitive advantages. Broad areas of interest include manufacturing, value-added distribution, and services. MMF will not invest in high technology, energy, or real estate. Midwest Mezzanine was formed in 1992 and has offices in Chicago and Monroe, Michigan.


DEAL STATS #
Overall 12 of 82
Sector (Electronics) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 6 of 33
State (Tennessee) 1 of 2
Country (United States) 12 of 82
Year (2004) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-10-20 Hunter s Specialities

Cedar Rapids, Iowa, United States

Hunter's Specialties is a manufacturer of hunting accessories and has been producing quality products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-17 Castle Dental Centers

Houston,, Texas, United States

Castle Dental Centers, Inc. is a provider of general dentistry, orthodontic and other dental specialty services through 77 dental centers with approximately 200 affiliated dentists.

Sell $56M