M&A Deal Summary

Bratenahl Capital Partners and Warburg Pincus Acquire Polypore International

On May 13, 2004, private equity firms Bratenahl Capital Partners and Warburg Pincus acquired machinery company Polypore International from GTCR and The InterTech Group for 1.2B USD

Acquisition Highlights
  • This is Bratenahl Capital Partners’ 1st and Warburg Pincus’ 1st transaction in the Machinery sector.
  • This is Bratenahl Capital Partners’ and Warburg Pincus’ 15th largest (disclosed) transaction.
  • This is Bratenahl Capital Partners’ 2nd and Warburg Pincus’ 42nd transaction in the United States.
  • This is Bratenahl Capital Partners’ 1st and Warburg Pincus’ 2nd transaction in North Carolina.
Investment Fate
  • Polypore International went public in 2007.
  • Polypore International was sold to a strategic buyer in 2015.

M&A Deal Summary

Date 2004-05-13
Target Polypore International
Sector Machinery
Buyer(s) Bratenahl Capital Partners
Warburg Pincus
Sellers(s) GTCR
The InterTech Group
Deal Type Secondary Buyout
Deal Value 1.2B USD

Target

Polypore International

Charlotte, North Carolina, United States
website
Polypore International, Inc. is a global manufacturer of highly engineered filtration products used in the power storage, healthcare, electronics and specialty technology industries.

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Buyer(S) 2

DESCRIPTION

Bratenahl Capital Partners is a private investment group focused on fund as well as direct/co-investment opportunities. The Firm's direct investment practice seeks to commit $500K to $15 million in partnership with other funded or unfunded sponsors. Bratenahl does not have any sector preferences, but does prefer companies with diversified customers and experienced management in place. Bratenahl Capital Partners was formed in 2003 and is headquartered in Cleveland, Ohio.


DEAL STATS #
Overall 4 of 35
Sector (Machinery) 1 of 2
Type (Secondary Buyout) 1 of 8
State (North Carolina) 1 of 1
Country (United States) 2 of 30
Year (2004) 2 of 3
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-05-04 Imperial Parking

Vancouver, British Columbia, Canada

Imperial Parking Corp. is one of the largest parking management companies in North America, operating approximately 4,600 parking facilities with 16,000 employees in more than 400 cities across the United States and Canada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-04 Global Thermoelectric

Calgary, Alberta, Canada

Global Thermoelectric is a designer and manufacturer of thermoelectric generators ("TEG"), and has been engaged in the development and sale of niche power generation products for more than 25 years.

Buy $23M
Buyer

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


DEAL STATS #
Overall 65 of 475
Sector (Machinery) 1 of 3
Type (Secondary Buyout) 3 of 62
State (North Carolina) 2 of 6
Country (United States) 42 of 234
Year (2004) 6 of 11
Size (of disclosed) 15 of 47
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-15 Nuance Communications

Burlington, Massachusetts, United States

Nuance Communications is a provider of speech and imaging solutions for businesses and consumers around the world. Nuance technologies, applications and services enable users calling directory assistance, getting account information, dictating patient records, telling a navigation system their destination, or digitally reproducing documents that can be shared and searched. Nuance Communications was formed in 1992 and is based in Burlington, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-05-27 Max India

New Delhi, India

Max India Limited, based in New Delhi, India, is a multi-business corporate, providing life insurance services and healthcare services. The company is also in the business of clinical research, nurse staffing, and manufacture of specialty plastic products. The life insurance business is conducted through Max New York Life, a joint venture with New York Life, a Fortune 100 company. The healthcare services business is setting up a network of hospitals and medical centers in New Delhi and the surrounding areas.

Buy -

Seller(S) 2

SELLER

GTCR

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1980
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GTCR is a private equity firm that typically partners with management when pursuing acquisitions. The Firm looks to grow companies through build-on acquisitions, consolidations, and internal growth. GTCR will consider both equity and mezzanine capital commitments and concentrates its investment activity in consumer products & services, healthcare services, outsourced business services, technology, transaction processing, and pharma/medical products. GTCR was formed in 1980 and is based in Chicago, Illinois.


DEAL STATS #
Overall 9 of 84
Sector (Machinery) 1 of 1
Type (Secondary Buyout) 1 of 21
State (North Carolina) 1 of 3
Country (United States) 9 of 81
Year (2004) 2 of 5
Size (of disclosed) 8 of 33
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-02-13 Prestige Consumer Healthcare

Tarrytown, New York, United States

Prestige Consumer Healthcare markets and distributes brand name over-the-counter medicines and household cleaning products throughout the US, Canada, Australia, and other select international markets. Prestige Consumer was founded in 1996 and is based in Tarrytown, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-08 HSM Electronic Protection Services Inc

Columbus, Ohio, United States

HSM Electronic Protection Services, Inc is a leading provider of electronic security monitoring services in the United States. The Company provides design, installation, maintenance, and monitoring services for electronic security systems to commercial and residential customers. Based in Lisle, Illinois, HSM is led by James Covert, a veteran of the security monitoring business.

Buy -
SELLER

The InterTech Group

North Charleston, South Carolina, United States

website


Category Company
Founded 1982
Sector Diversified
DESCRIPTION

The InterTech Group, Inc. is a family-owned holding company.


DEAL STATS #
Overall 1 of 1
Sector (Machinery) 1 of 1
Type (Secondary Buyout) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2004) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1994-01-01 Polypore International

Charlotte, North Carolina, United States

Polypore International, Inc. is a global manufacturer of highly engineered filtration products used in the power storage, healthcare, electronics and specialty technology industries.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-28 RGC Resources

Roanoke, Virginia, United States

RGC Resources provides energy and related products and services to customers in Virginia through its operating subsidiaries including Roanoke Gas Company, Diversified Energy Company and RGC Ventures of Virginia, Inc. RGC Resources was founded in 1883 and is based in Roanoke, Virginia.

Buy -