M&A Deal Summary

Centerfield Capital Partners, Tillery Capital and Northstar Capital Acquire A&D Environmental Services

On February 12, 2007, mezzanine finance firm Centerfield Capital Partners, family office Tillery Capital and mezzanine finance firm Northstar Capital acquired environmental company A&D Environmental Services

Acquisition Highlights
  • This is Centerfield Capital Partners’ 1st, Tillery Capital’s 1st and Northstar Capital’s 1st transaction in the Environmental sector.
  • This is Centerfield Capital Partners’ 16th, Tillery Capital’s 1st and Northstar Capital’s 20th transaction in the United States.
  • This is Centerfield Capital Partners’ 1st, Tillery Capital’s 1st and Northstar Capital’s 1st transaction in North Carolina.
Investment Fate
  • A&D Environmental Services was sold to a strategic buyer in 2015.

M&A Deal Summary

Date 2007-02-12
Target A&D Environmental Services
Sector Environmental
Buyer(s) Centerfield Capital Partners
Tillery Capital
Northstar Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

A&D Environmental Services

High Point, North Carolina, United States
A&D Environmental Services, Inc. is a provider of environmental and industrial service industry providing a full range of industrial, remediation, waste management, transportation and emergency response services.

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Buyer(S) 3

Buyer

Centerfield Capital Partners

Indianapolis, Indiana, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2001
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Centerfield Capital Partners is a private investment firm that provides subordinated debt and equity capital to mid-market companies. Prospective transactions include acquisition financings, management buyouts, shareholder liquidity needs, recapitalizations, corporate divestitures, ESOP financings, and sponsored/unsponsored transactions. Centerfield generally invests in companies with sales of $15 to $100 million and EBITDA of $3 to $15 million. Target sectors include manufacturing, business services, healthcare services, and transportation/distribution. Centerfield will not invest in early stage businesses, turnaround situations, retail, real estate, and finance companies. Centerfield Capital Partners was founded in 2001 and is based in Indianapolis, Indiana.


DEAL STATS #
Overall 16 of 100
Sector: Environmental M&A 1 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 11 of 42
State: North Carolina M&A 1 of 5
Country: United States M&A 16 of 100
Year: 2007 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-12 Standard Locknut

Westfield, Indiana, United States

Standard Locknut is a manufacturer of specialized bearing accessories and also provides contract machining services. Standard Locknut was founded in 1948 and is based in Westfield, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-22 Thermafiber

Wabash, Indiana, United States

Thermafiber, Inc. is a producer of mineral wool insulation products used primarily in commercial and industrial buildings. Thermafiber's products are sold to construction markets, power and process markets, and a wide variety of industrial and OEM markets.

Buy -
Buyer

Tillery Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor


Category Family Office
Founded 2006
Size Small
Type Sector Agnostic
DESCRIPTION

Tillery Capital is an 'operationally-oriented' private equity firm that invests in and builds lower middle-market companies in partnership with management teams. Tillery makes control equity investments in companies whose annual EBITDA is greater than $2 million. Tillery prefers Southeast US based opportunities, but will consider opportunities across the US. Sectors of interest include agriculture, speciality chemicals, medical products, commercial/industrial services, niche manufacturing, environmental services, healthcare services, and distribution. Tillery Capital was formed in 2006 and has offices in Charlotte and Raleigh, North Carolina, and Indianapolis, Indiana.


DEAL STATS #
Overall 1 of 6
Sector: Environmental M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 3
State: North Carolina M&A 1 of 1
Country: United States M&A 1 of 6
Year: 2007 M&A 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-17 Derive Systems

Sanford, Florida, United States

Derive Systems is a provider of calibration software in the automotive aftermarket industry. SCT’s software recalibrates engine and transmission systems to their optimal settings based on vehicle usage. Derive Systems was founded in 2003 and is based in Sanford, Florida.

Buy -
Buyer

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 21 of 121
Sector: Environmental M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 12 of 45
State: North Carolina M&A 1 of 3
Country: United States M&A 20 of 116
Year: 2007 M&A 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-01 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-01 EMS Management & Consultants

Lewisville, North Carolina, United States

EMS Management & Consultants is a provider of outsourced billing and revenue cycle management services to over 200 emergency medical service providers throughout the U.S. EMS Management & Consultants was founded in 1996 and is based in Lewisville, North Carolina.

Buy -