M&A Deal Summary

CCMP Capital Advisors Acquires The Hillman Companies

On May 19, 2014, private equity firm CCMP Capital Advisors acquired machinery company The Hillman Companies from HarbourVest Partners, Oak Hill Capital and AEA Investors for 1.5B USD

Acquisition Highlights
  • This is CCMP Capital Advisors’ 2nd transaction in the Machinery sector.
  • This is CCMP Capital Advisors’ 6th largest (disclosed) transaction.
  • This is CCMP Capital Advisors’ 68th transaction in the United States.
  • This is CCMP Capital Advisors’ 5th transaction in Ohio.

M&A Deal Summary

Date 2014-05-19
Target The Hillman Companies
Sector Machinery
Buyer(s) CCMP Capital Advisors
Sellers(s) HarbourVest Partners
Oak Hill Capital
AEA Investors
Deal Type Secondary Buyout
Deal Value 1.5B USD
Advisor(s) Barclays Investment Bank (Financial)

Target

The Hillman Companies

Cincinnati, Ohio, United States
website
The Hillman Companies, Inc. (Fund IV) is a distributor of fasteners, key blanks, signage and other small hardware components and a leading manufacturer of key making equipment. The company operates in multiple channels of the retail marketplace including national and regional home centers, hardware stores and mass merchants.

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Buyer(S) 1

Buyer

CCMP Capital Advisors

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

CCMP Capital Advisors is a large private equity firm focused on buyout and growth equity opportunities across Asia, North America and Western Europe valued up to $2 billion. Sectors of interest include consumer, retail, and services (specialty retail, direct marketing, consumer packaged goods); media/telecom (consumer and trade publishing, content and programming, broadcasting, cable, wireless and wire line communications ); industrial (chemicals, manufacturing, distribution, automotive); energy (exploration and production, power generation, renewable energy, services); and healthcare (services, pharmaceuticals, medical devices). The Firm's target investment size is $100 to $500 million. CCMP Capital Advisors was formed in 1984 and was spun off in 2006 from JP Morgan Chase with offices in New York, Houston, and London.


DEAL STATS #
Overall 88 of 97
Sector (Machinery) 2 of 3
Type (Secondary Buyout) 16 of 22
State (Ohio) 5 of 5
Country (United States) 68 of 75
Year (2014) 2 of 4
Size (of disclosed) 6 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-17 Grupo Corporativo ONO S.A.

Madrid, Spain

Grupo Corporativo ONO S.A. is a broadband service provider. It offers direct access telephony, pay television and internet access services to the residential market where, ONO offers advanced voice, data and value-added services across its own high capacity local access and national backbone networks.

Sell €7.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-31 Eco Services - Solvay

Brussels, Belgium

Eco Services is a business unit of Solvay Sa.

Buy $890M

Seller(S) 3

SELLER

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 48 of 117
Sector (Machinery) 1 of 2
Type (Secondary Buyout) 14 of 31
State (Ohio) 1 of 1
Country (United States) 28 of 77
Year (2014) 4 of 14
Size (of disclosed) 14 of 36
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-05 Orange Valley Nursing Homes

Singapore, Singapore

Orange Valley Nursing Homes is a provider of quality nursing care in Singapore. Orange Valley Nursing Homes was founded in 1993 and is based in Singapore.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-23 Spectrum

Selmer, Tennessee, United States

Spectrum Corp. is an independent compunder, blender, packager, and marketer of specialty lubricants. Products include 2-cycle and small engine 4-cycle oils, bar and chain oil, and hydraulic fluid, which are commonly used in power lawn and garden equipment.

Sell -
SELLER

Oak Hill Capital

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1986
PE ASSETS 9.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oak Hill Capital Partners was originally formed as the private equity investment vehicle for Robert Bass and in 1999, opened up to outside investors and raised its first private equity fund. Oak Hill looks to invest in middle-market companies and focuses its efforts within six industry groups. The six groups include basic industries; business and financial services; consumer, retail, and distribution; healthcare; media and telecom; and technology. Oak Hill targets businesses with defensible business models, strong market positions, and 'best-in-class' management. Oak Hill Capital was formed in 1986 and has offices in Stamford, Connecticut; Menlo Park, California; and New York City.


DEAL STATS #
Overall 31 of 54
Sector (Machinery) 1 of 1
Type (Secondary Buyout) 5 of 11
State (Ohio) 3 of 3
Country (United States) 26 of 45
Year (2014) 1 of 5
Size (of disclosed) 5 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-01 The Container Store

Coppell, Texas, United States

The Container Store is a specialty retailer of storage and organizational solutions. The Company currently operates highly-productive destination specialty retail stores across the U.S., an internet and mail order business, and a wholesale business. The Container Store was founded in 1978 and is based in Coppell, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-22 SmartPak Equine

Plymouth, Massachusetts, United States

SmartPak Equine is a provider of equine supplements and horse supplies. SmartPak Equine was founded in 1999 and is based in Plymouth, Massachusetts.

Buy -
SELLER

AEA Investors

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1968
PE ASSETS 17.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

AEA Investors is a private investment firm focused on investing in and acquiring businesses headquartered primarily in the US, Europe, and China. AEA looks for companies operating in stable to growing industries with a proven ability to generate positive cash-flow. Broad sectors of interest include value-added industrial products/services, specialty chemicals, consumer products, and services. In addition to its primary middle-market private equity fund, AEA maintains additional funds targeted towards mezzanine financing, senior secured debt, and small business buyouts. AEA Investors was formed in 1968 and is based in New York City.


DEAL STATS #
Overall 32 of 74
Sector (Machinery) 2 of 3
Type (Secondary Buyout) 11 of 33
State (Ohio) 3 of 4
Country (United States) 29 of 67
Year (2014) 2 of 5
Size (of disclosed) 4 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-22 Pregis

Deerfield, Illinois, United States

Pregis LLC is a global provider of innovative protective packaging materials and systems. Pregis design, develop and deliver packaging solutions for a wide variety of consumer and industrial market segments. Pregis serves a wide variety of consumer and industrial market segments including food, pharmaceutical, healthcare, medical devices, agricultural, e-commerce, retail, automotive, transportation, furniture, electronics, building, construction, and military/aerospace.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-05 Galco Industrial Electronics

Madison Heights, Michigan, United States

Galco Industrial Electronics Inc. is a distributor of Industrial and Commercial Electrical and Electronic Control, Automation and Motion Products, Repair and Engineering Services. Galco Industrial Electronics was founded in 1975 and is based in Madison Heights, Michigan.

Buy -