Investment Summary

Exits Palmer Tool

On January 1, 2008, invested in manufacturer Palmer Tool from C3 Capital and Red Top Capital

Investment Highlights
  • This is transaction in the Manufacturing sector.
  • This is transaction in the United States.
  • This is transaction in Tennessee.
Investment Fate
  • Palmer Tool was sold to a financial buyer in 2014.

Investment Summary
Date 2008-01-01
Target Palmer Tool
Sector Manufacturing
Sellers(s) C3 Capital
Red Top Capital
Deal Type Sold to Management

Target

Palmer Tool

Camden, Tennessee, United States
website
Palmer Tool is a manufacturer and supplier of custom-machined and fabricated metal products. The company serves some of the largest and most successful chemical and refining companies in the world and does work worldwide as a result of its ability to engineer and design solutions, components, and equipment that provide operating advantages in the field for its customers. Palmer Tool was founded in 1965 and is based in Camden, Tennessee.

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Seller(S) 2

SELLER

C3 Capital

Kansas City, Missouri, United States

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 1994
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

C3 Capital Partners LP is a private investment firm that provides capital for later-stage growth, strategic acquisitions, ownership transitions, and recapitalizations. The Firm typically invests in the form of subordinated debt or preferred equity and can commit between $3 and $15 million per transaction with and EBITDA of minimum $2 million. Target sectors include chemicals, plastics, energy, business services, distribution, and high value-added manufacturing. C3 does not seek a controlling interest when pursuing investments. C3 will not invest in real estate, oil/gas exploration, or financial institutions. C3's investment funds are licensed as a Small Business Investment Company (SBIC).

DEAL STATS #
Overall 2 of 20
Sector (Manufacturing) 1 of 1
Type (Sold to Management) 1 of 1
State (Tennessee) 1 of 1
Country (United States) 2 of 20
Year (2008) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-12 Bastech

Jacksonville, Florida, United States

Bastech is a producer of chemical products that enhance the productivity of customers in the paper, pulp, mining, and fertilizer sectors. Bastech was founded in 1961 and is based in Jacksonville, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-01 Liberty Distribution

Chandler, Arizona, United States

Liberty Distribution Company LLC is a distributor of candies, snacks, and other items to retailers in the United States.

Buy -
SELLER

Red Top Capital

Delafield, Wisconsin, United States

website

Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Red Top Capital LLC is a private investment firm focused on management buyouts of established manufacturing businesses (consumer products, food, furniture, industrial products, equipment, textile, apparel) where the firm looks to acquire a controlling interest. Red Top generally pursues companies with sales of $5 to $50 million and at least earnings of $0.5 to $1 million. Total transaction values range from $5 to $30 million. Red Top Capital makes equity investments with personal capital, rather than with funds from a limited partnership with institutional investors. Red Top Capital was formed in 1993 and is based in Hartland, Wisconsin.

DEAL STATS #
Overall 3 of 5
Sector (Manufacturing) 2 of 2
Type (Sold to Management) 1 of 1
State (Tennessee) 1 of 2
Country (United States) 3 of 5
Year (2008) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-05 Batteries Plus Bulbs

Hartland, Wisconsin, United States

Batteries Plus Bulbs is a franchisor and omnichannel retailer of batteries, light bulbs, and device repair services for both the direct-to-consumer and commercial channels. Through its national network of stores, the Company offers a differentiated value proposition of unrivaled product selection, in-stock availability, and customer service. Batteries Plus Bulbs' comprehensive product offering serves a wide variety of applications including automotive, marine, power sports, lawn, and garden equipment, consumer electronics, security systems, and connected home applications. This selection is complemented by extensive category expertise and value-added services including diagnostics, installation, and recycling. Batteries Plus Bulbs was founded in 1988 and is based in Hartland, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-01 Jubilee Embroidery

Lugoff, South Carolina, United States

Jubilee Embroidery is a specialty embroidery contractor engaged in the production of embroidery and appliqué products which are used in home furnishings, children's apparel, sports logo merchandise, and various other applications. Its customers include West Point Stevens, Springs Industries, Nike, Adidas, Umbro, Champion Products, Health-Tex, Inc., Polo, and many others. Jubilee Embroidery is based in Lugoff, South Carolina.

Sell -
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