American Industrial Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, American Industrial Partners has acquired 6 companies. It has also invested in 1 other.

American Industrial Partners’ most common sectors for investment are machinery (24%) and automotive (16%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (35%) and divestiture (32%). In total, American Industrial Partners has invested in 24 US states and 4 different countries. Its largest (disclosed) acquisition occurred in 2017 when it acquired Molycop for $1.2B.

In the last 3 years, American Industrial Partners has exited 4 companies. The Firm’s most common exit type is secondary buyout (39%). American Industrial Partners’ largest (disclosed) exit occurred in 2021 when it sold Gerber Technology for $338M.

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M&A Summary

  • M&A Total Activity59
    • M&A Buy Activity38
    • M&A Sell Activity21
  • Total Sectors Invested 15
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 17
  • M&A Advisors 9

American Industrial Partners

450 Lexington Ave, 40th Floor,
New York, New York 10017
United States
(212) 627-2360
www.americanindustrial.com

American Industrial Partners (AIP) is a private equity firm focused on investments in North American manufacturing or industrial service companies. For platform acquisitions, AIP seeks businesses with at least $300 million of revenue and the Firm will consider transactions valued up to $1.5 billion. Operating characteristics of prospective businesses include global marketing and sourcing opportunities, historical record of (or potential for) strong free cash flow, opportunity to drive value through operating enhancements, and potential for sustainable competitive advantage. AIP will consider a variety of transaction types including leveraged buyouts, structured equity investments, bridge financings, senior debt, carve-outs, take privates, turnarounds, and rescue financings. American Industrial Partners was formed in 1989 and is based in New York City.


Investment Criteria

Sectors of Interest: Automotive, Chemicals, Construction, Consumer Products, Energy Services and Equipment, Machinery, Manufacturing, Safety/Security, Test/Measurement Equipment

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Special Situations/Distressed, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue 300 1,000
Target EBITDA - -
Investment Size - -
Enterprise Value - 1,500
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (2.2/yr) # 27 4 3 - 2 2 38
vol $275M $1.2B $640M $1.0B $920M $4.1B
Sell (0.8/yr) # 17 - 1 1 - 2 21
vol $500M $338M $838M
  59

Most Recent M&A

Company Date Value Type
ACProducts, Inc. 2021-04-05 - Secondary Buyout
Ann Arbor, Michigan · www.cabinetworksgroup.com
Ingersoll-Rand Plc - High Pressure Solutions Segment 2021-02-16 - Divestiture
Davidson, North Carolina
Gerber Technology, Inc. 2021-02-08 338M EUR Add-on Acquisition
Tolland, Connecticut · www.gerbertechnology.com
Domtar Corp. - Personal Care Business 2021-01-08 920M USD Divestiture
Fort Mill, South Carolina
Orizon Aerostructures 2020-12-28 - Growth Capital
Kansas City, Missouri · www.orizonaero.com
SEACOR Holdings, Inc. 2020-12-07 1.0B USD Going Private
Fort Lauderdale, Florida · www.seacorholdings.com
Contiweb B.V. 2019-10-25 - Secondary Buyout
Boxmeer, Netherlands · www.contiweb.com
AHF, LLC 2018-11-15 100M USD Divestiture
Mountville, Pennsylvania · www.ahfproducts.com
General Electric Co. - Current 2018-11-06 - Divestiture
Boston, Massachusetts · www.currentbyge.com
Vertex Aerospace Corp. 2018-05-01 540M USD Divestiture
Madison, Mississippi · www.vtxaero.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Optimas OE Solutions LLC 2015-06-02 The Stronghold Group 2020-04-06 1
Glenview, Illinois · www.optimas.com , Italy · www.stronghold-group.eu
Rand Logistics, Inc. 2017-11-21 American Steamship Co. 2020-02-10 1
Jersey City, New Jersey · www.randlogisticsinc.com Williamsville, New York · www.americansteamship.com
REV Group, Inc. 2010-08-25 Spartan Motors, Inc. - Emergency Response Unit 2020-02-03 10
Milwaukee, Wisconsin · www.revgroup.com , Michigan
Canam Group, Inc. 2017-07-01 Canam Group, Inc. - Canadian Operations 2020-01-20 1
Saint-Georges, Quebec · www.groupecanam.com , Quebec
EnTrans International, LLC 2014-09-05 Polar Corp. 2018-03-19 1
Athens, Tennessee · www.entransinternational.com Montebello, California · www.polarcorp.com
Molycop 2017-01-03 Valmont Industries, Inc. - Mining Consumables Business 2017-08-24 1
Omaha, Nebraska · www.molycop.com , Australia
REV Group, Inc. 2010-08-25 Ferrara Fire Apparatus, Inc. 2017-04-25 9
Milwaukee, Wisconsin · www.revgroup.com Holden, Louisiana · www.ferrarafire.com
REV Group, Inc. 2010-08-25 Midwest Automotive Designs LLC 2017-04-13 8
Milwaukee, Wisconsin · www.revgroup.com Elkhart, Indiana · www.midwestautomotivedesigns.com
REV Group, Inc. 2010-08-25 Kibbi LLC 2016-12-01 7
Milwaukee, Wisconsin · www.revgroup.com Bristol, Indiana · www.kibbi.com
The Carlstar Group LLC 2013-12-31 Carlstar Belts Business 2015-08-03 1
Franklin, Tennessee · www.carlstargroup.com Springfield, Missouri

M&A by Sector

Sector Current # Value All-time # Value
Machinery 3 (17%) 148M (4%) 9 (24%) 148M (4%)
Automotive 2 (11%) - 6 (16%) -
Manufacturing 3 (17%) 1.2B (31%) 3 (8%) 1.2B (30%)
Aerospace 3 (17%) 540M (14%) 3 (8%) 540M (13%)
Building Materials 2 (11%) 100M (3%) 3 (8%) 127M (3%)
Test/Measurement Equipment - - 2 (5%) 100M (2%)
Chemicals - - 2 (5%) -
Energy Services and Equipment 1 (6%) - 2 (5%) -
Forest Products - - 2 (5%) -
Marine 1 (6%) 1.0B (25%) 1 (3%) 1.0B (25%)
Consumer Products 1 (6%) 920M (23%) 1 (3%) 920M (23%)
Business Services 1 (6%) - 1 (3%) -
Information Technology - - 1 (3%) -
Safety/Security - - 1 (3%) -
Transportation 1 (6%) - 1 (3%) -
Total 18 $3.9B 38 $4.1B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 16 (89%) 3.9B (100%) 34 (89%) 4.0B (100%)
  Missouri 1 (6%) - 3 (8%) -
  Tennessee 2 (11%) - 2 (5%) -
  Florida 1 (6%) 1.0B (25%) 2 (5%) 1.0B (25%)
  Washington 1 (6%) 148M (4%) 2 (5%) 148M (4%)
  Pennsylvania 1 (6%) 100M (3%) 2 (5%) 100M (3%)
  Michigan 1 (6%) - 2 (5%) 27M (1%)
  Wisconsin 1 (6%) - 2 (5%) -
  Ohio - - 2 (5%) -
  Connecticut - - 2 (5%) -
  Nebraska 1 (6%) 1.2B (31%) 1 (3%) 1.2B (31%)
  South Carolina 1 (6%) 920M (23%) 1 (3%) 920M (23%)
  Mississippi 1 (6%) 540M (14%) 1 (3%) 540M (14%)
  Texas 1 (6%) - 1 (3%) -
  North Carolina 1 (6%) - 1 (3%) -
  New Jersey 1 (6%) - 1 (3%) -
  Massachusetts 1 (6%) - 1 (3%) -
  Illinois 1 (6%) - 1 (3%) -
  Virginia - - 1 (3%) -
  Oregon - - 1 (3%) -
  New York - - 1 (3%) -
  New Hampshire - - 1 (3%) -
  Indiana - - 1 (3%) -
  Colorado - - 1 (3%) -
  California - - 1 (3%) -
Canada 1 (6%) - 2 (5%) -
  Quebec 1 (6%) - 2 (5%) -
Germany 1 (6%) - 1 (3%) -
Netherlands - - 1 (3%) -
Domestic 16 (89%) 3.9B (100%) 34 (89%) 4.0B (100%)
Cross-border 2 (11%) - 4 (11%) -
Total 18 $3.9B 38 $4.0B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 2 (11%) 1.2B (31%) 13 (34%) 1.2B (31%)
Divestiture 8 (44%) 1.6B (40%) 12 (32%) 1.6B (40%)
Secondary Buyout 2 (11%) 148M (4%) 5 (13%) 148M (4%)
Going Private 2 (11%) 1.0B (25%) 3 (8%) 1.0B (25%)
Consolidation 2 (11%) - 2 (5%) -
Special Situations/Distressed 1 (6%) - 2 (5%) -
Growth Capital 1 (6%) - 1 (3%) -
Total 18 $3.9B 38 $4.0B

Exits by Deal Type

Type Total # Value
Secondary Sale 8 (38%) 330M (39%)
IPO 4 (19%) -
Merger 4 (19%) -
Trade Sale 3 (14%) 338M (40%)
Trade Sale - Public Company 2 (10%) 170M (20%)
Total 21 $838M

Top M&A Advisors

Financial Deals
Goldman Sachs Investment Banking Division
 3
Barclays Investment Bank
 2
Deutsche Bank Corporate & Investment Banking
 1
Legal Deals
Ropes & Gray LLP
 7
Baker Botts LLP
 3
White & Case LLP
 1

Deal Values

buy # Total
> $1B 2 $2.2B
$100M to $1B 3 $1.6B
< $100M 3 $227M
TOTAL $4.1B
Largest Molycop
$1.2B (2017-01-03)
sell # Total
$100M to $1B 3 $838M
TOTAL $838M
Largest Gerber Technology, Inc.
$338M (2021-02-08)

M&A Connections

Deals
Acquired from
Investor(s)
13%
5 (13%)
Strategic(s)
29%
11 (29%)
Exited to
Investor(s)
38%
8 (38%)
Strategic(s)
24%
5 (24%)

Investor Summary

Size

Mega

PE Assets

7.0B USD

Established

1989

Specialist/Generalist

Specialist

Leadership

Dino Cusumano

Managing Partner

John Becker

Managing Partner

Kim Marvin

Managing Partner

Paul Bamatter

Partner

Alex Menkhaus

Partner

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