Blackford Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

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

Blackford Capital’s most common sectors for investment aremanufacturing (20%) and business services (12%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (60%) and growth capital (32%). In total, Blackford Capital has invested in 10 US states.

In the last 3 years, Blackford Capital has exited 3 companies. The Firm’s most common exit type is secondary buyout (30%). Blackford Capital’s largest (disclosed) exit occurred in 2022 when it sold Quality Aluminum Products for $54M.

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M&A Summary

  • M&A Total Activity35
    • M&A Buy Activity25
    • M&A Sell Activity10
  • Total Sectors Invested 17
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 9
  • M&A Advisors 3

Blackford Capital

190 Monroe Avenue NW, Suite 600,
Grand Rapids, Michigan 49503
United States
(616) 233-3161
www.blackfordcapital.com
info@blackfordcapital.com

Blackford Capital is a private investment firm that targets mature or growth-oriented manufacturing, distribution, and service companies located in North America. Specific areas of interest include paper; rubber and miscellaneous plastics; stone, clay, and glass products; primary metal industries; fabricated metal products; industrial machinery and equipment; and electronics and other electrical equipment. Blackford prefers situations where management is seeking to retire or exit. The Firm's target revenue range is between $20 and $100 million. Blackford Capital Partners was formed in 2000 and is based in Grand Rapids, Michigan.


Investment Criteria

Sectors of Interest: Building Materials, Business Services, Construction, Consumer Services, Distribution, Electrical Equipment, Food, Healthcare Services, Information Technology, Machinery, Manufacturing, Medical Products, Plastics, Publishing, Retail, Safety/Security, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, Stake Purchase

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

Transaction Criteria Min Max
Target Revenue 20 100
Target EBITDA 2 20
Investment Size - -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '18 '19 '20 '21 '22 '23 T
Buy (0.8/yr) # 21 - - 2 2 - 25
Sell (1.0/yr) # 5 2 1 - 2 - 10
vol $54M $54M
  35

Most Recent M&A

Company Date Value Type
Artificial Turf Supply 2022-11-30 - Buyout (LBO, MBO, MBI)
Carlsbad, California · www.artificialturfsupply.com
Starfire Direct 2022-11-14 - Buyout (LBO, MBO, MBI)
Temecula, California · www.starfiredirect.com
Quality Aluminum Products, Inc. 2022-08-23 54M USD Add-on Acquisition
Flat Rock, Michigan · www.qualityaluminum.com
Grand Equipment Co. 2022-06-16 - Secondary Buyout
Hudsonville, Michigan · www.grandequipment.com
ID Collaborative, Inc. 2021-11-02 - Buyout (LBO, MBO, MBI)
Greensboro, North Carolina · www.idc.biz
Aqua-Leisure Industries, Inc. 2021-01-13 - Growth Capital
Avon, Massachusetts · www.aqualeisure.com
Ellison Bakery LLC 2020-08-14 - Secondary Buyout
Fort Wayne, Indiana · www.ebakery.com
Custom Profile, Inc. 2019-04-25 - Secondary Buyout
Grand Rapids, Michigan · www.custom-profile.com
Best Security Industries, Inc. 2019-03-01 - Add-on Acquisition
Delray Beach, Florida · www.bsi-eas.com
Hall Technologies 2018-09-18 - Growth Capital
Tustin, California · www.halltechav.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Grand Power Systems, Inc. 2014-03-17 Warner Power LLC 2016-02-08 1
Grand Haven, Michigan · www.gtipower.com Warner, New Hampshire

M&A by Sector

Sector Current # Value All-time # Value
Manufacturing 3 (20%) - 5 (20%) -
Business Services 3 (20%) - 3 (12%) -
Distribution 1 (7%) - 2 (8%) -
Plastics 1 (7%) - 2 (8%) -
Building Materials - - 1 (4%) -
Construction - - 1 (4%) -
Consumer Products 1 (7%) - 1 (4%) -
E-Commerce 1 (7%) - 1 (4%) -
Electrical Equipment 1 (7%) - 1 (4%) -
Electronics 1 (7%) - 1 (4%) -
Food - - 1 (4%) -
Healthcare Services 1 (7%) - 1 (4%) -
Information Technology - - 1 (4%) -
Medical Products 1 (7%) - 1 (4%) -
Publishing 1 (7%) - 1 (4%) -
Safety/Security - - 1 (4%) -
Transportation - - 1 (4%) -
Total 15 - 25 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 15 (100%) - 25 (100%) -
  Michigan 5 (33%) - 8 (32%) -
  California 4 (27%) - 6 (24%) -
  Illinois 2 (13%) - 2 (8%) -
  North Carolina 1 (7%) - 2 (8%) -
  Massachusetts 1 (7%) - 2 (8%) -
  Nevada 1 (7%) - 1 (4%) -
  Minnesota 1 (7%) - 1 (4%) -
  Washington - - 1 (4%) -
  Indiana - - 1 (4%) -
  Florida - - 1 (4%) -
Total 15 - 25 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 8 (53%) - 15 (60%) -
Growth Capital 6 (40%) - 8 (32%) -
Recapitalization 1 (7%) - 1 (4%) -
Stake Purchase - - 1 (4%) -
Total 15 - 25 -

Exits by Deal Type

Type Total # Value
Secondary Sale 5 (50%) -
Trade Sale - Public Company 2 (20%) 54M (100%)
Trade Sale 2 (20%) -
Merger 1 (10%) -
Total 10 $54M

Top M&A Advisors

Financial Deals
Aleutian Capital Partners LLC (dba Aleutian Capital Group)
 1
Stout Risius Ross LLC
 1
Legal Deals
Varnum LLP
 4

Deal Values

sell # Total
< $100M 1 $54M
TOTAL $54M
Largest Quality Aluminum Products, Inc.
$54M (2022-08-23)

M&A Connections

Deals
Acquired from
Investor(s)
4%
1 (4%)
Exited to
Investor(s)
30%
3 (30%)
Strategic(s)
30%
3 (30%)

Investor Summary

Investor Type

Private Equity Firm

Size

Small

Established

2000

Specialist/Generalist

Generalist

Leadership

Martin Stein

Founder & Managing Director

Carmen Evola

Managing Director

Jeffrey Johnson

Managing Director

Allen Palles

Operating Partner

Rob Leonard

Operating Partner

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