M&A Deal Summary

TASI Acquires Onicon

On April 26, 2019, TASI acquired manufacturer Onicon from Barings Private Equity and Harbour Group

Acquisition Highlights
  • This is TASI’s 1st transaction in the Manufacturing sector.
  • This is TASI’s 3rd transaction in the United States.
  • This is TASI’s 1st transaction in Florida.

M&A Deal Summary
Date 2019-04-26
Target Onicon
Sector Manufacturing
Buyer(s) TASI
Sellers(s) Barings Private Equity
Harbour Group
Deal Type Add-on Acquisition

Target

Onicon

Clearwater, Florida, United States
website
Onicon, Inc. is a manufacturer of highly accurate flow meters and energy measurement systems (BTU meters), which are ideally suited for HVAC, municipal water and process applications. Onicon was founded in 1987 and is based in Largo, Florida.

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Buyer(S) 1

Buyer

TASI

Harrison, Ohio, United States

website

Category Company
Founded 1981
Sector Test/Measurement Equipment
DESCRIPTION

TASI is a manufacturer of highly-engineered leak test and measurement equipment designed to enhance manufacturing efficiency in the automotive, plastics, industrial and pharmaceutical end markets. TASI is headquartered in Cincinnati, OH and dates back to 1981 when the company was founded as Cincinnati Test Systems.

DEAL STATS #
Overall 3 of 4
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 3 of 4
State (Florida) 1 of 1
Country (United States) 3 of 3
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-21 Sheepscot Machine Works

Newcastle, Maine, United States

Sheepscot Machine Works is a manufacturer of standard and custom dispensing products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-12 CASSEL Messtechnik

Dransfeld, Germany

CASSEL Messtechnik GmbH is a designer and construction of metal detection and x-ray inspection systems for industrial applications. CASSEL Messtechnik is based in Dransfeld, Germany.

Buy -

Seller(S) 2

SELLER

Barings Private Equity

Investor Investor

website

Category Private Equity Firm
Founded 1991
PE ASSETS 5.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Barings Private Equity is the private equity arm of global asset management firm Barings. The Group looks to invest in mezzanine, distressed, and other private equity transactions including secondaries and funds. Sectors of interest include manufacturing, business services, distribution, consumer products, consumer services, food products, packaging, and healthcare. Barings Private Equity was originally established in 1991 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 26 of 37
Sector (Manufacturing) 1 of 3
Type (Add-on Acquisition) 17 of 23
State (Florida) 1 of 1
Country (United States) 24 of 33
Year (2019) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-12 York Wallcoverings

York, Pennsylvania, United States

York Wallcoverings is a manufacturer of residential and commercial wallpaper, as well as peel-and-stick removable and reusable wall decals. York Wallcoverings was founded in 1895 and is based in York, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-16 RANDYS

Everett, Washington, United States

RANDYS is a national automotive aftermarket provider of highly engineered components under the Yukon and USA Standard brands. The company's main product categories include differentials, ring & pinion, and axle products that are generally used to improve the towing and/or traction performance of a vehicle. RANDYS was founded in 1982 and is based in Everett, Washington.

Sell -
SELLER

Harbour Group

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor

website

Category Asset Manager
Founded 1976
Size Large
Type Sector Agnostic
DESCRIPTION

Harbour Group is a private investment firm that seeks to invest in companies within the sectors of manufacturing and distribution. The firm pursues companies with EBITDA between $4 million and $60 million, and revenue between $50 million and $100 million. In addition, the firm looks for investments within North America and around the world with enterprise value between $30 million and $500 million. Harbour Group was formed in 1976 and is based in St. Louis, Missouri.

DEAL STATS #
Overall 16 of 18
Sector (Manufacturing) 2 of 2
Type (Add-on Acquisition) 8 of 9
State (Florida) 3 of 4
Country (United States) 16 of 18
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-07 Lofa Industries

Roswell, Georgia, United States

Lofa Industries LLC designs manufacture and distribute control panels, wiring harnesses, sensors, and telemetry for engine-driven off-highway equipment, including pumps, air compressors, chippers, materials processors, drillers, and generators. Lofa Industries was founded in 1989 and is based in Roswell, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-26 SpotSee

Dallas, Texas, United States

SpotSee develops and manufactures shock, vibration, temperature, and other environmental condition monitoring solutions for in-transit, in-plant, and in-storage applications. The company offers a broad portfolio of branded products including indicator devices, RFID, Bluetooth, satellite, and cellular-connected devices that provide real-time tracking, monitoring, and reporting capabilities. SpotSee was founded in 1976 and is headquartered in Dallas, Texas.

Buy -
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