CapitalWorks Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, CapitalWorks has acquired 2 companies.

CapitalWorks’ most common sectors for investment are manufacturing (19%) and electrical equipment (10%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (41%) and secondary buyout (23%). In total, CapitalWorks has invested in 8 US states and 2 different countries.

In the last 3 years, CapitalWorks has exited 4 companies. The Firm’s most common exit type is trade sale (46%). CapitalWorks’ largest (disclosed) exit occurred in 2013 when it sold PVF Capital for $106M.

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M&A Summary

  • M&A Total Activity33
    • M&A Buy Activity22
    • M&A Sell Activity11
  • Total Sectors Invested 16
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 13
  • M&A Advisors 4

CapitalWorks LLC

1100 Superior Avenue 17th Floor, Suite 1725,
Cleveland, Ohio 44114
United States,
(216)781-3233
www.capitalworks.net
info@capitalworks.net

CapitalWorks is a private investment firm that seeks investments in smaller middle-market companies in a variety of industries. Target companies typically have EBITDA of $3 to $9 million and are located in the Midwest. In addition to private equity investing, CapitalWorks also invests capital through a long/short equity fund. CapitalWorks was formed in 1999 and is based in Beachwood, Ohio.


Investment Criteria

Sectors of Interest: Aerospace, Automotive, Business Services, Chemicals, Consumer Services, Defense, Distribution, Financial Services, Machinery, Manufacturing, Packaging, Publishing, Renewable Energy

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Going Private, Growth Capital, Special Situations/Distressed, Stake Purchase

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

Transaction Criteria Min Max
Target Revenue 15 75
Target EBITDA 3 9
Investment Size - -
Enterprise Value 15 60
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (1.0/yr) # 17 1 1 2 1 - 22
Sell (0.8/yr) # 7 - 1 2 1 - 11
vol $106M $106M
  33

Most Recent M&A

Company Date Value Type
Chemtron Corp. 2019-08-16 - Secondary Buyout
Avon, Ohio · www.chemtron-corp.com
Libra Industries Inc. 2019-05-21 - Buyout (LBO, MBO, MBI)
Mentor, Ohio · www.libraindustries.com
The Godfrey Group 2018-12-12 - Add-on Acquisition
Durham, North Carolina · www.godfreygroup.com
Ohio Blow Pipe Co. 2018-09-21 - Buyout (LBO, MBO, MBI)
Cleveland, Ohio · www.obpairsystems.com
Capewell Components Company LLC 2018-09-13 - Secondary Buyout
South Windsor, Connecticut · www.capewell.com
C&M Conveyor, Inc. 2018-06-04 - Secondary Buyout
Bloomington, Indiana · www.cmconveyor.com
KKSP Precision Machining LLC 2017-11-30 - Secondary Buyout
Glendale Heights, Illinois · www.kksp.com
GEMCITY Engineering and Manufacturing 2017-11-29 - Secondary Buyout
Dayton, Ohio · www.gemcity.com
Paradigm Windows Solutions 2016-01-07 - Buyout (LBO, MBO, MBI)
Portland, Maine · www.paradigmwindows.com
Magna-Tech Manufacturing Corp. 2015-12-15 - Add-on Acquisition
Muncie, Indiana · www.magnatechmfg.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
The Ripley Company 2014-02-03 Optical Design Manufacturing, Inc. 2017-12-19 1
Cromwell, Connecticut · www.ripley-tools.com Laconia, New Hampshire · www.odm-inc.com
Paradigm Windows Solutions 2016-01-07 Vista Window Co. LLC 2017-02-22 1
Portland, Maine · www.paradigmwindows.com Lordstown, Ohio · www.vistawindowco.com
Bluffton Motor Works LLC 2006-12-11 RAE Corp. 2013-11-13 2
Bluffton, Indiana · www.blmworks.com Pryor, Oklahoma · www.rae-corp.com
Bluffton Motor Works LLC 2006-12-11 Toledo Gearmotor Company 2012-07-27 1
Bluffton, Indiana · www.blmworks.com Sylvania, Ohio

M&A by Sector

Sector Current # Value All-time # Value
Manufacturing 2 (18%) - 4 (18%) -
Electrical Equipment 2 (18%) - 2 (9%) -
Machinery 2 (18%) - 2 (9%) -
Media - - 2 (9%) -
Aerospace 1 (9%) - 1 (5%) -
Automotive - - 1 (5%) -
Building Materials 1 (9%) - 1 (5%) -
Business Services - - 1 (5%) -
Consumer Services 1 (9%) - 1 (5%) -
Defense - - 1 (5%) -
Electronics 1 (9%) - 1 (5%) -
Environmental - - 1 (5%) -
Financial Services - - 1 (5%) -
Internet Software and Services - - 1 (5%) -
Packaging - - 1 (5%) -
Plastics 1 (9%) - 1 (5%) -
Total 11 - 22 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 11 (100%) - 20 (91%) -
  Ohio 4 (36%) - 8 (36%) -
  Indiana 2 (18%) - 3 (14%) -
  Pennsylvania 2 (18%) - 2 (9%) -
  Connecticut 1 (9%) - 2 (9%) -
  Illinois - - 2 (9%) -
  Missouri 1 (9%) - 1 (5%) -
  Maine 1 (9%) - 1 (5%) -
  North Carolina - - 1 (5%) -
Canada - - 2 (9%) -
  Ontario - - 1 (5%) -
  British Columbia - - 1 (5%) -
Domestic 11 (100%) - 20 (91%) -
Cross-border - - 2 (9%) -
Total 11 - 22 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 4 (36%) - 9 (41%) -
Secondary Buyout 4 (36%) - 5 (23%) -
Stake Purchase 1 (9%) - 3 (14%) -
Divestiture 1 (9%) - 2 (9%) -
Growth Capital 1 (9%) - 2 (9%) -
Going Private - - 1 (5%) -
Total 11 - 22 -

Exits by Deal Type

Type Total # Value
Secondary Sale 4 (36%) -
Trade Sale - Public Company 3 (27%) 106M (100%)
Trade Sale 3 (27%) -
Unknown 1 (9%) -
Total 11 $106M

Top M&A Advisors

Financial Deals
KippsDeSanto & Co.
1
Fidus Partners LLC
1
Legal Deals
Calfee, Halter & Griswold LLP
2
Benesch, Friedlander, Coplan & Aronoff LLP
2

Deal Values

sell # Total
$100M to $1B 1 $106M
TOTAL $106M
Largest PVF Capital Corp.
$106M (2013-10-15)

M&A Connections

Deals %
Acquired from
PE Firm(s)
75%
6 75%
Strategic(s)
25%
2 25%
Exited to
PE Firm(s)
44%
4 44%
Strategic(s)
56%
5 56%