M&A Deal Summary

Altas Partners and Leonard Green & Partners Acquire Tecta America

On October 29, 2018, private equity firms Altas Partners and Leonard Green & Partners acquired construction company Tecta America from ONCAP Management Partners

Acquisition Highlights
  • This is Altas Partners’ 1st and Leonard Green & Partners’ 1st transaction in the Construction sector.
  • This is Altas Partners’ 5th and Leonard Green & Partners’ 68th transaction in the United States.
  • This is Altas Partners’ 2nd and Leonard Green & Partners’ 4th transaction in Illinois.

M&A Deal Summary

Date 2018-10-29
Target Tecta America
Sector Construction
Buyer(s) Altas Partners
Leonard Green & Partners
Sellers(s) ONCAP Management Partners
Deal Type Secondary Buyout

Target

Tecta America

Rosemont, Illinois, United States
website
Tecta America is a provider of commercial roofing services in the U.S. offering installation, replacement, and repair services. It services both local and national accounts across a spectrum of industries and end-markets including industrial, retail / office, non-government institutional, government, multi-family and other. Tecta America was founded in 2000 and is based in Rosemont, Illinois.

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Buyer(S) 2

Buyer

Altas Partners

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2012
PE ASSETS 10.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Atlas Partners LP is a Canadian private equity firm focused on acquiring controlling stakes in 'high-quality, market-leading' businesses. Atlas Partners does not have any sector preferences and generally pursues companies with strong management, stable cash-flows, and minimal risk of disintermediation. The Firm's target investment size is $100 to $500 million. Atlas Partners LP was formed in 2012 and is based in Toronto.


DEAL STATS #
Overall 6 of 10
Sector (Construction) 1 of 1
Type (Secondary Buyout) 4 of 6
State (Illinois) 2 of 2
Country (United States) 5 of 9
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-28 PADI

Rancho Santa Margarita, California, United States

PADI (Professional Association of Diving Instructors) is a scuba diving certification, training and publishing company, serving diving instructors, retailers and individual scuba divers. PADI was founded in 1966 and is based in Rancho Santa Margarita, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-17 NSC Minerals

Saskatoon, Saskatchewan, Canada

NSC Minerals, Inc. is a provider of salt for highway de-icing, industrial and agricultural applications, serving municipal, provincial and state governments. NSC Minerals was founded in 1988 and is based in Saskatoon, Saskatchewan.

Sell -
Buyer

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 70.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.


DEAL STATS #
Overall 73 of 88
Sector (Construction) 1 of 1
Type (Secondary Buyout) 28 of 40
State (Illinois) 4 of 5
Country (United States) 68 of 81
Year (2018) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-08 Veritext

Costa Mesa, California, United States

Veritext is a pre-trial deposition services provider in the United States, offering end-to-end services for law firms and corporate clients. Veritext connects its clients to its network of independent court contractors, including court reporters, videographers, and interpreters, to help administer more depositions per year than any other provider. Veritext is based in Costa Mesa, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 Milan Laser

Omaha, Nebraska, United States

Milan Laser is an operator of laser hair removal services with company-owned clinics operating across the US. Milan Laser offers unlimited treatment services for clients looking for painless and permanent hair removal. Milan Laser is based in Omaha, Nebraska.

Buy -

Seller(S) 1

SELLER

ONCAP Management Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1999
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ONCAP is the mid-market private equity business of Onex Corporation. ONCAP looks to invest in small and mid-sized North American businesses where it can commit $20 to $200 million of equity capital. ONCAP considers investment opportunities in a wide range of industry sectors. Situations of interest include, complete or partial sales of a closely held private companies, divestitures, companies seeking equity capital to pursue key strategic initiatives, and take privates. ONCAP was established in 1999 and is based in Toronto.


DEAL STATS #
Overall 14 of 16
Sector (Construction) 1 of 1
Type (Secondary Buyout) 5 of 7
State (Illinois) 1 of 1
Country (United States) 6 of 8
Year (2018) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-20 Walter Surface Technologies

Windsor, Connecticut, United States

Walter Surface Technologies provides solutions for the global metal working industry. From high-performance abrasives, power tools and tooling to industrial parts washing systems, cleaners, degreasers and lubricants Walter focuses on helping its customers work better. Walter Surface Technologies was established in 1952 and is based in Windsor, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-07 Wyse Meter Solutions

Newmarket, Ontario, Canada

Wyse Meter Solutions is a provider of turnkey submetering and utility expense management services to property managers, building owners and developers across Canada.

Buy -