Citizens Capital Mergers and Acquisitions Summary

Private Equity Profile

Citizens Capital’s most common sectors for investment are building materials (13%) and business services (13%). The Firm’s most common investment types include venture (50%) and buyout (lbo, mbo, mbi) (25%). In total, Citizens Capital has invested in 5 US states. Its largest (disclosed) acquisition occurred in 2000 when it acquired Sensitech for $17M.

The Firm’s most common exit type is trade sale (73%). Citizens Capital’s largest (disclosed) exit occurred in 2005 when it sold Norcross Safety Products for $472M.

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M&A Summary

  • M&A Total Activity19
    • M&A Buy Activity8
    • M&A Sell Activity11
  • Total Sectors Invested 8
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 22

Citizens Capital

28 State Street,
Boston, Massachusetts 02109
United States
(617) 725-5636
www.citizenscapital.com
Scott@citizenscapital.com

Citizens Capital is the private equity affiliate of Citizens Financial and provides both mezzanine and equity capital to later-stage privately-held companies in the US. Citizens looks to commit $3 to $15 million in subordinated debt transactions and $1 to $3 million for growth equity needs. Target sectors include manufacturing, consumer products, distribution, and service-based industries. The Firm's investment horizon is five to seven years. Citizens Capital is based in Boston, Massachusetts.


Investment Criteria

Sectors of Interest: Aerospace, Automotive, Building Materials, Business Services, Chemicals, Communications, Construction, Consumer Products, Consumer Services, Defense, Digital Media, Distribution, Financial Services, Food, Information Technology, Internet Software and Services, Leisure, Machinery, Manufacturing, Marketing, Restaurants, Retail, Safety/Security, Software, Technology Hardware, Test/Measurement Equipment

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, Venture

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

Transaction Criteria Min Max
Target Revenue 15 250
Target EBITDA 3 -
Investment Size - -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.0/yr) # 8 - - - - - 8
vol $17M $17M
Sell (0.0/yr) # 11 - - - - - 11
vol $484M $484M
  19

Most Recent M&A

Company Date Value Type
Courion Corp. 2015-03-04 - Secondary Sale
Westborough, Massachusetts · www.courion.com
The Faucet Queens, Inc. 2014-01-27 - Add-on Acquisition
Cranbury, New Jersey · www.faucetqueen.com
AeroSat Corp. 2013-10-01 12M USD Add-on Acquisition
Amherst, New Hampshire · www.aerosat.com
Innoveer Solutions, Inc. 2013-01-15 - Add-on Acquisition
Boston, Massachusetts · www.innoveer.com
Premix, Inc. 2011-01-27 - Add-on Acquisition
North Kingsville, Ohio · www.premix.com
Akibia, Inc. 2010-12-31 - Add-on Acquisition
Westborough, Massachusetts · www.akibia.com
Champion Energy Corp. 2010-05-10 - Add-on Acquisition
New Rochelle, New York · www.championenergy.com
Sensitech, Inc. 2006-06-16 - Add-on Acquisition
Beverly, Massachusetts · www.sensitech.com
The Faucet Queens, Inc. 2006-04-25 - Divestiture
Cranbury, New Jersey · www.faucetqueen.com
SSG Precision Optronics, Inc. 2006-04-03 - Add-on Acquisition
Wilmington, Massachusetts · www.ssginc.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Business Services - - 1 (13%) 17M (100%)
Building Materials - - 1 (13%) -
Communications - - 1 (13%) -
Distribution - - 1 (13%) -
Information Technology - - 1 (13%) -
Safety/Security - - 1 (13%) -
Software - - 1 (13%) -
Technology Hardware - - 1 (13%) -
Total - - 8 $17M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States - - 8 (100%) 17M (100%)
  Massachusetts - - 4 (50%) 17M (100%)
  Rhode Island - - 1 (13%) -
  New York - - 1 (13%) -
  New Jersey - - 1 (13%) -
  New Hampshire - - 1 (13%) -
Total - - 8 $17M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Venture - - 4 (50%) 17M (100%)
Buyout (LBO, MBO, MBI) - - 2 (25%) -
Divestiture - - 1 (13%) -
Recapitalization - - 1 (13%) -
Total - - 8 $17M

Exits by Deal Type

Type Total # Value
Trade Sale 6 (55%) -
Trade Sale - Public Company 3 (27%) 12M (2%)
Secondary Sale 2 (18%) 472M (98%)
Total 11 $484M

Deal Values

buy # Total
< $100M 1 $17M
TOTAL $17M
Largest Sensitech, Inc.
$17M (2000-08-30)
sell # Total
$100M to $1B 1 $472M
< $100M 1 $12M
TOTAL $484M
Largest Norcross Safety Products LLC
$472M (2005-07-26)

M&A Connections

Deals %
Acquired from
Strategic(s)
100%
1 100%
Exited to
PE Firm(s)
20%
2 20%
Strategic(s)
80%
8 80%

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