Barings Mergers and Acquisitions Summary

Profile

In the last 3 years, Barings has acquired 2 companies. It has also invested in 1 other.

Barings’ most common sectors for investment aretransportation (11%) and machinery (7%) . The Firm’s most common investment types include secondary buyout (39%) and buyout (lbo, mbo, mbi) (35%). In total, Barings has invested in 22 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2009 when it acquired Drew Marine for $120M.

In the last 3 years, Barings has exited 13 companies. The Firm’s most common exit type is trade sale (65%). Barings’ largest (disclosed) exit occurred in 2019 when it sold Wireless Infrastructure Group for $885M.

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M&A Summary

  • M&A Total Activity83
    • M&A Buy Activity49
    • M&A Sell Activity34
  • Total Sectors Invested 27
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 54
  • M&A Advisors 5

Barings LLC

300 South Tryon Street Suite 2500,
Charlotte, North Carolina 28202
United States
(704) 805-7200
www.barings.com
brian.whelan@barings.com

Babson Capital is an investment management and advisory firm based in Boston, Massachusetts. In addition to its other investment vehicles, Babson invests in mezzanine, distressed, and private equity transactions. Babson targets potential transactions valued between $50 and $300 million. The Firm commits between $10 and $40 million for mezzanine capital needs and between $3 and $15 million for private equity investments. Sectors of interest include manufacturing, business services, distribution, consumer products, consumer services, food products, packaging, and healthcare. Babson will consider opportunities in the US, Europe, and Asia.


Investment Criteria

Sectors of Interest: Aerospace, Automotive, Building Materials, Business Services, Chemicals, Construction, Consumer Products, Consumer Services, Distribution, Electronics, Energy Services and Equipment, Engineering, Financial Services, Food, Healthcare Services, Information Technology, Leisure, Machinery, Manufacturing, Marine, Marketing, Medical Products, Packaging, Plastics, Real Estate, Restaurants, Safety/Security, Test/Measurement Equipment, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Recapitalization, Secondary Buyout

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Scandinavia, Asia/Pacific

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 3 40
Enterprise Value 50 300
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (0.6/yr) # 46 - 1 1 1 - 49
vol $244M $19M $263M
Sell (3.6/yr) # 16 5 3 7 2 1 34
vol $1.3B $360M $885M $115M $2.7B
  83

Most Recent M&A

Company Date Value Type
General Tools & Instruments LLC 2021-02-01 115M USD Add-on Acquisition
Secaucus, New Jersey · www.generaltools.com
Sunrise Windows & Doors 2020-12-22 - Add-on Acquisition
Temperance, Michigan · www.sunrisewindows.com
Specialty Networks LLC 2020-12-15 - Growth Capital
Rocky River, Ohio
Money Mailer LLC 2020-04-27 - Add-on Acquisition
Cypress, California · www.moneymailer.com
Wireless Infrastructure Group Ltd. 2019-12-19 885M GBP Secondary Buyout
Bellshill, United Kingdom · www.wirelessinfrastructure.co.uk
JMH International LLC 2019-12-12 - Add-on Acquisition
Salt Lake City, Utah · www.jmhpremium.com
Team Drive-Away, Inc. 2019-10-21 - Add-on Acquisition
Olathe, Kansas · www.teamdriveaway.com
Siblu France SAS 2019-09-27 - Secondary Buyout
Pessac, France · www.siblu.com
ABC Industries, Inc. 2019-08-05 - Secondary Buyout
Winona Lake, Indiana · www.abc-industries.net
Armstrong Transport Group LLC 2019-06-18 - Recapitalization
Charlotte, North Carolina · www.armstrongtransport.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Greenleaf Power LLC 2010-11-15 Plainfield Renewable Energy Plant 2015-07-27 3
Sacramento, California · www.greenleaf-power.com Plainfield, Connecticut
Greenleaf Power LLC 2010-11-15 Tracy Biomass Plant 2013-06-03 2
Sacramento, California · www.greenleaf-power.com Tracy, California
Greenleaf Power LLC 2010-11-15 Colmac Energy, Inc. 2010-12-14 1
Sacramento, California · www.greenleaf-power.com Mecca, California

M&A by Sector

Sector Current # Value All-time # Value
Transportation 2 (14%) - 5 (10%) -
Chemicals - - 3 (6%) 186M (71%)
Consumer Products 2 (14%) - 3 (6%) -
Machinery - - 3 (6%) -
Manufacturing - - 3 (6%) -
Packaging - - 3 (6%) -
Safety/Security 2 (14%) - 3 (6%) -
Automotive 1 (7%) - 2 (4%) -
Business Services - - 2 (4%) -
Distribution - - 2 (4%) -
Engineering 1 (7%) - 2 (4%) -
Food - - 2 (4%) -
Healthcare Services 1 (7%) - 2 (4%) -
Consumer Services - - 1 (2%) 58M (22%)
Life Science 1 (7%) 19M (100%) 1 (2%) 19M (7%)
Aerospace - - 1 (2%) -
Building Materials - - 1 (2%) -
Communications - - 1 (2%) -
Education 1 (7%) - 1 (2%) -
Energy Services and Equipment 1 (7%) - 1 (2%) -
Leisure - - 1 (2%) -
Marketing - - 1 (2%) -
Medical Products - - 1 (2%) -
Plastics - - 1 (2%) -
Renewable Energy 1 (7%) - 1 (2%) -
Restaurants 1 (7%) - 1 (2%) -
Software - - 1 (2%) -
Total 14 $19M 49 $263M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 13 (93%) 19M (100%) 44 (90%) 205M (78%)
  New Jersey 1 (7%) - 6 (12%) 120M (46%)
  North Carolina 3 (21%) 19M (100%) 5 (10%) 19M (7%)
  California 1 (7%) - 3 (6%) -
  Texas 1 (7%) - 2 (4%) -
  Pennsylvania 1 (7%) - 2 (4%) -
  Ohio 1 (7%) - 2 (4%) -
  Kansas 1 (7%) - 2 (4%) -
  Florida 1 (7%) - 2 (4%) -
  Colorado 1 (7%) - 2 (4%) -
  Wisconsin - - 2 (4%) -
  Washington - - 2 (4%) -
  Utah - - 2 (4%) -
  Michigan - - 2 (4%) -
  Massachusetts - - 2 (4%) -
  Virginia 1 (7%) - 1 (2%) -
  New Mexico 1 (7%) - 1 (2%) -
  New York - - 1 (2%) 66M (25%)
  Oregon - - 1 (2%) -
  Indiana - - 1 (2%) -
  Illinois - - 1 (2%) -
  Georgia - - 1 (2%) -
  Alabama - - 1 (2%) -
United Kingdom 1 (7%) - 4 (8%) 58M (22%)
France - - 1 (2%) -
Domestic 13 (93%) 19M (100%) 44 (90%) 205M (78%)
Cross-border 1 (7%) - 5 (10%) 58M (22%)
Total 14 $19M 49 $263M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 5 (36%) - 19 (39%) 124M (47%)
Buyout (LBO, MBO, MBI) 3 (21%) - 17 (35%) -
Recapitalization 2 (14%) - 6 (12%) -
Divestiture 1 (7%) 19M (100%) 3 (6%) 139M (53%)
Growth Capital 2 (14%) - 3 (6%) -
Add-on Acquisition 1 (7%) - 1 (2%) -
Total 14 $19M 49 $263M

Exits by Deal Type

Type Total # Value
Trade Sale 13 (38%) 115M (4%)
Secondary Sale 11 (32%) 885M (33%)
Trade Sale - Public Company 9 (26%) 1.7B (63%)
Merger 1 (3%) -
Total 34 $2.7B

Top M&A Advisors

Financial Deals
BB&T Capital Markets
 1
Robert W. Baird & Co., Inc.
 1
Legal Deals
Locke Lord LLP
 1
Thompson Hine LLP
 1
McGuireWoods LLP
 1

Deal Values

buy # Total
$100M to $1B 1 $120M
< $100M 3 $143M
TOTAL $263M
Largest Drew Marine, Inc.
$120M (2009-06-22)
sell # Total
$100M to $1B 7 $2.6B
< $100M 1 $80M
TOTAL $2.7B
Largest Wireless Infrastructure Group Ltd.
$885M (2019-12-19)

M&A Connections

Deals
Acquired from
Investor(s)
43%
21 (43%)
Strategic(s)
4%
2 (4%)
Exited to
Investor(s)
32%
11 (32%)
Strategic(s)
68%
23 (68%)

Investor Summary

Size

Mega

PE Assets

288.0B USD

Established

1955

Specialist/Generalist

Generalist

Leadership

Patrick Hoefling

CFO

Mike Freno

Chairman, CEO & President

Sheldon Francis

Chief Administrative Officer & Chief Legal Officer

Cheryl Krauss

Chief Communications Officer

Chasity Boyce

Chief Diversity, Equity and Inclusion Officer

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