M&A Deal Summary |
|
|---|---|
| Date | 2016-08-08 |
| Target | Sun Water Systems |
| Sector | Manufacturing |
| Buyer(s) | AO Smith |
| Sellers(s) |
L Catterton Partners
Enhanced Capital Partners First Capital Partners Praesidian Capital |
| Deal Type | Add-on Acquisition |
| Deal Value | 87M USD |
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| Category | Company |
|---|---|
| Founded | 1874 |
| Sector | Manufacturing |
| Employees | 12,000 |
| Revenue | 3.8B USD (2022) |
AO Smith is a manufacturer of water heaters and boilers, serving a diverse mix of residential and commercial end markets. The Company's water heater segment offers electric, natural gas and liquid propane models as well as solar tanks and gas tankless units for today’s energy efficient homes. AO Smith's commercial boilers are used primarily in space heating applications including hospitals, schools, hotels and other large commercial buildings. AO Smith was incorporated in 1874 and is based in Milwaukee, Wisconsin.
| DEAL STATS | # |
|---|---|
| Overall | 8 of 13 |
| Sector (Manufacturing) | 1 of 5 |
| Type (Add-on Acquisition) | 6 of 11 |
| State (Texas) | 1 of 1 |
| Country (United States) | 6 of 10 |
| Year (2016) | 1 of 1 |
| Size (of disclosed) | 7 of 8 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2011-08-26 |
Lochinvar
Lebanon, Tennessee, United States Lochinvar LLC is a manufacturer of high-efficiency boilers used in commercial and residential hydronic heating and hot water applications. |
Buy | $418M |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2019-04-08 |
Water-Right
Appleton, Wisconsin, United States Water-Right, Inc. is a water quality solutions provider with a complete line of residential and commercial products and systems for a wide variety of applications, including solutions for problem well water. Water-Right products are sold under the Evolve®, WaterCare®, Sanitizer Series®, Impression Series® and CustomCare® product brands. In addition to its advanced and innovative product solutions, Water-Right also has a retail facility, Water-Right Services, and a state-certified lab, Clean Water Testing LLC™, specializing in water analytical services. |
Buy | $107M |
| Category | Growth Capital Firm |
|---|---|
| Founded | 1989 |
| PE ASSETS | 30.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.
| DEAL STATS | # |
|---|---|
| Overall | 38 of 95 |
| Sector (Manufacturing) | 1 of 3 |
| Type (Add-on Acquisition) | 16 of 42 |
| State (Texas) | 3 of 7 |
| Country (United States) | 35 of 72 |
| Year (2016) | 3 of 6 |
| Size (of disclosed) | 11 of 12 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2016-08-02 |
Hanna Andersson
Portland, Oregon, United States Hanna Andersson is a multi-channel children’s apparel and accessories brand. Hanna Andersson has offered high-quality, Swedish-inspired children's clothing. From its iconic striped sleepwear to everyday playwear and more, Hanna Andersson's broad product line is balanced across boys, girls and infants from newborn to 12 years old. The Company's clothing is clearly differentiated by unmatched quality, durability and style. Over the last decade, Hanna Andersson has grown from a highly successful catalog brand to become the most prominent and fastest growing premium brand in the children's specialty apparel category. With a successful omni-channel platform, Hanna Andersson has been generating double-digit annual revenue growth since 2010 through a combination of its heritage catalog business and attractive e-commerce platform, as well as 55 retail stores and 11 outlet locations. Hanna Andersson was founded in 1983 and is based in Portland, Oregon. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2016-09-02 |
Velvet Taco
Plano, Texas, United States Velvet Taco is a restaurant concept set out to elevate through globally-inspired recipes and the freshest ingredients. The acclaimed restaurant provides a broad sampling of international tastes and inventive combinations, delivering flavors that are as memorable as they are delicious. Formed in 2011, Velvet Taco has almost 30 locations in Texas, North Carolina, Georgia, Illinois, Tennessee, and Oklahoma. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1999 |
| PE ASSETS | 500M USD |
| Size | Middle-Market |
| Type | Sector Focused |
Enhanced Capital Partners is a private investment firm focused on investing in small and mid-sized growth companies generating sales up to $100 million. The Firm can invest across the capital structure, including equity and mezzanine debt financing. Enhanced also will provide funds for working capital needs. The Firm looks to invest $2 to $20 million of equity and mezzanine in the range of $500,000 to $3 million in mid to later-stage profitable companies that are seeking capital to fund growth, make an acquisition, or for an outright sale. Target sectors include aerospace, business services, communications, distribution, manufacturing, healthcare, IT, software, and retail. Enhanced Equity Partners was formed in 1999 and is based in New York City with an additional office in Austin, Birmingham, Denver, Jackson Hole, Nashville, New Orleans, Stamford, Tampa and Washington, D.C.
| DEAL STATS | # |
|---|---|
| Overall | 23 of 26 |
| Sector (Manufacturing) | 1 of 1 |
| Type (Add-on Acquisition) | 11 of 14 |
| State (Texas) | 2 of 3 |
| Country (United States) | 23 of 26 |
| Year (2016) | 2 of 2 |
| Size (of disclosed) | 3 of 5 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2016-01-05 |
American GreenFuels
New Haven, Connecticut, United States American GreenFuels is a producer of high-quality biodiesel in the Northeast US to meet the growing regional demand for biodiesel in home heating and transportation fuels, to provide energy, and promote environmental responsibility. American GreenFuels was founded in 2004 and is based in New Haven, Connecticut. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2017-04-25 |
iDevices
Avon, Connecticut, United States iDevices LLC is a developer of an App-enabled products that incorporate wireless connectivity to the Apple and Android platforms. iDevices Consulting LLC partners with companies, inventors, and developers to App-enable their products and bring new ideas to market in the Apple and Android space. iDevices is based in Avon, Connecticut. |
Sell | - |
| Category | Mezzanine Finance Firm |
|---|---|
| Founded | 2006 |
| PE ASSETS | 241M USD |
| Size | Small |
| Type | Sector Agnostic |
First Capital Partners is an Omaha, Nebraska-based private investment firm that provides equity and subordinated debt financing to lower middle-market companies. First targets businesses with revenues of $10 to $100 million and EBITDA up to $10 million. Investments are generally used to fund management buyouts, growth capital financings, recapitalizations, divestitures, and generational transfers of ownership. Broad areas of interest include manufacturing, business services, and value-added distribution. First Capital will not invest in startups, early stage companies, high technology, real estate, or retail. First Capital Partners is based in US.
| DEAL STATS | # |
|---|---|
| Overall | 5 of 14 |
| Sector (Manufacturing) | 1 of 3 |
| Type (Add-on Acquisition) | 3 of 7 |
| State (Texas) | 1 of 2 |
| Country (United States) | 5 of 14 |
| Year (2016) | 2 of 2 |
| Size (of disclosed) | 1 of 1 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2016-08-01 |
United Urology Group
Owings Mills, Maryland, United States United Urology Group is a urology physician practice management company with clinical offices and ambulatory surgical centers that provide general urologic care in addition to ancillary service lines including surgical centers, pharmacy, radiation therapy, and a pathology lab. United Urology Group was founded in 2006 and is based in Owings Mills, Maryland. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2016-10-01 |
Color Craft Graphic Arts
Manitowoc, Wisconsin, United States Color Craft Graphic Arts is a folding carton company focused on providing paperboard and printing services. Color Craft Graphic Arts designs, makes dies, prints, die-cut, glue, and ship warehouse projects, all in-house at their Manitowoc plant. Providing print runs from 500 to 5 million, they can help from pre-press all the way to delivery. Color Craft Graphic Arts was founded in 1929 and is based in Manitowoc, Wisconsin. |
Buy | - |
| Category | Mezzanine Finance Firm |
|---|---|
| Founded | 2002 |
| PE ASSETS | 1.0B USD |
| Size | Large |
| Type | Sector Agnostic |
Praesidian Capital is a mezzanine debt provider for middle-market companies throughout the US and Europe. Praesidian looks to provide junior capital to businesses with revenues between $3 and $100 million and EBITDA between $250k and $20 million. Capital is typically used to support acquisitions, management/leveraged buyouts, recapitalizations, and restructurings. Praesidian will not invest in oil & gas exploration, financial services, real estate, or start-ups. Praesidian Capital was formed in 2002 and is based in New York City.
| DEAL STATS | # |
|---|---|
| Overall | 14 of 29 |
| Sector (Manufacturing) | 1 of 1 |
| Type (Add-on Acquisition) | 6 of 10 |
| State (Texas) | 3 of 4 |
| Country (United States) | 14 of 27 |
| Year (2016) | 3 of 5 |
| Size (of disclosed) | 1 of 2 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2016-07-26 |
National Truck Protection
Winston-Salem, North Carolina, United States National Truck Protection is a provider of extended service contracts for critical coverage on high-value fundamental drivetrain components for used class 3 through 8 trucks. National Truck Protection was founded in 1983 and is based in Winston-Salem, North Carolina. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2016-09-30 |
Mission Critical Electronics
Dallas, Texas, United States Mission Critical Electronics is a niche-oriented manufacturer of power conversion, battery charging and battery products operating under the leading brands Kussmaul Electronics, Newmar Power, ASEA Power Systems, Power Products, and American Battery Charging. The Company focuses on critical system applications in specialty vehicle, public safety, and industrial/marine applications where durability, reliability, and performance are essential to deliver immediately accessible power. MCE’s solutions address application-specific requirements for 4,000 customers across 2,000+ branded SKUs. MCE is based in Dallas, Texas. |
Sell | - |
