M&A Deal Summary

Clarity Partners, Peppertree Capital, CIVC Partners, DN Partners and Trimaran Capital Partners Acquire PrimeCo Personal Communications

On July 2, 2001, private equity firms Clarity Partners, Peppertree Capital, CIVC Partners, DN Partners and Trimaran Capital Partners acquired communications company PrimeCo Personal Communications

Acquisition Highlights
  • This is Clarity Partners’ 3rd, Peppertree Capital’s 2nd, CIVC Partners’ 2nd, DN Partners’ 1st and Trimaran Capital Partners’ 1st transaction in the Communications sector.
  • This is Clarity Partners’ 3rd, Peppertree Capital’s 4th, CIVC Partners’ 27th, DN Partners’ 2nd and Trimaran Capital Partners’ 1st transaction in the United States.
  • This is Clarity Partners’ 1st, Peppertree Capital’s 1st, CIVC Partners’ 4th, DN Partners’ 1st and Trimaran Capital Partners’ 1st transaction in Illinois.
Investment Fate
  • PrimeCo Personal Communications was sold to a publicly-traded strategic buyer in 2002 for 610M USD.

M&A Deal Summary

Date 2001-07-02
Target PrimeCo Personal Communications
Sector Communications
Buyer(s) Clarity Partners
Peppertree Capital
CIVC Partners
DN Partners
Trimaran Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

PrimeCo Personal Communications

Itasca, Illinois, United States
PrimeCo Personal Communications LLC is a wireless telecommunication services provider.

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Buyer(S) 5

Buyer

Clarity Partners

Sherman Oaks, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Clarity Partners is a specialist private equity firm focused on investments in the communications and media sectors. Specific areas of interest include wireless, wireline and broadband services and applications; communications infrastructure; traditional and emerging media; information technology and business services. Clarity will consider making investments at all stages of company development, including early and late stage venture investing, growth equity financings, leveraged buyouts, and divestitures. Clarity Partners was formed in 2000 and is based in Beverly Hills, California.


DEAL STATS #
Overall 3 of 15
Sector (Communications) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 2 of 6
State (Illinois) 1 of 2
Country (United States) 3 of 14
Year (2001) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-07-01 MetroPCS Communications

Richardson, Texas, United States

MetroPCS Communications, Inc. is a provider of wireless communications services in several metropolitan areas of the US, including SanFrancisco, Miami and Atlanta. MetroPCS offers simple, flat-rate calling plans that provide unlimited usage within a local calling area with no long-term contracts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-08-01 Opnext

Fremont, California, United States

Opnext, Inc. is a designers and manufacturers of optical components for the data and telecommunications industries.

Buy -
Buyer

Peppertree Capital

Chagrin Falls, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 4.8B USD
Size Large
Type Sector Focused
DESCRIPTION

Peppertree Capital is a private equity firm that targets investments in mid to large-sized wireless telecommunication infrastructure companies. Peppertree focuses on growing companies with recurring, predictable cash-flows, and led by management with proven track records. Specific areas of interest include communication rooftop developers, fiber network operators, and related real estate projects. Target transaction types include buyouts, recapitalizations and growth capital financings. Peppertree Capital was formed in 2003 and is based in Chagrin Falls, Ohio.


DEAL STATS #
Overall 4 of 19
Sector (Communications) 2 of 6
Type (Buyout (LBO, MBO, MBI)) 4 of 6
State (Illinois) 1 of 1
Country (United States) 4 of 19
Year (2001) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-07-01 MetroPCS Communications

Richardson, Texas, United States

MetroPCS Communications, Inc. is a provider of wireless communications services in several metropolitan areas of the US, including SanFrancisco, Miami and Atlanta. MetroPCS offers simple, flat-rate calling plans that provide unlimited usage within a local calling area with no long-term contracts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-05-10 PrimeCo Personal Communications

Itasca, Illinois, United States

PrimeCo Personal Communications LLC is a wireless telecommunication services provider.

Sell $610M
Buyer

CIVC Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1970
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

CIVC Partners is a private equity firm that provides buyout and growth capital to middle-market businesses located in the US and Canada. CIVC invests in companies generating sales of $40 - $300 million with an EBITDA of $5 to $25 million. Sectors of interest include Business Services, Information Services, Facility Services, Insurance Services, Transportation & Logistics, Tech-enabled Services, BPO, SaaS, Compliance Services, Corporate Training, IT Services, and Utility Services. The firm invests in the range of $20 - $100 million per transaction. CIVC prefers to be the lead equity sponsor and will consider both majority and minority investment situations. CIVC Partners was formed in 1970 and is based in Chicago, Illinois.


DEAL STATS #
Overall 27 of 76
Sector (Communications) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 16 of 32
State (Illinois) 4 of 10
Country (United States) 27 of 72
Year (2001) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-06-01 Humphreys

Chicago, Illinois, United States

Humphreys was the market leader in domestic men's and boys' belt sales, held the Levi's and Dockers belt and accessories licenses, and enjoyed a strong position vis-à-vis its primary competitors.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-04-08 Precision Tube Technology

Houston, Texas, United States

Precision Tube Technology, Inc. was the leading manufacturer of steel coiled tubing supplying the worldwide oil and gas well service, recompletion, and sub-sea flowline markets.

Sell -
Buyer

DN Partners

Chicago, Illinois, United States

Category Private Equity Firm
Founded 1995
Size Small
Type Sector Agnostic
DESCRIPTION

DN Partners private equity firm that invests in profitable, lower middle-market headquartered in the Midwest. The Firm looks to invest $3 to $15 million in businesses valued from $20 to $100 million through a variety of transaction situations. These include corporate spin-offs, family succession transactions, recapitalization, consolidations, and management buyouts. Target sectors include manufacturing, distribution, food and beverage, and business services. DN Partners was established in 1995 and is headquartered in Chicago, Illinois.


DEAL STATS #
Overall 2 of 4
Sector (Communications) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 2 of 2
State (Illinois) 1 of 1
Country (United States) 2 of 2
Year (2001) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1995-01-01 Country Pure Foods

Akron, Ohio, United States

Country Pure Foods is a provider of branded and private label beverage products to healthcare and education markets as well to leading grocery retailers. Country Pure Foods was founded in 1948 and is based in Akron, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-05-10 PrimeCo Personal Communications

Itasca, Illinois, United States

PrimeCo Personal Communications LLC is a wireless telecommunication services provider.

Sell $610M
Buyer

Trimaran Capital Partners

New York, New York, United States

Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 3.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Trimaran Capital Partners is a middle-market private equity investor. The Firm seeks long-term capital appreciation by making privately negotiated equity or equity-oriented investments in niche middle-market companies. Trimaran generally looks to invest $25 to $100 million of equity in transactions ranging in value from $100 million to $1 billion. Sectors of interest include business services, financial services, energy, healthcare, manufacturing, and media. Trimaran Capital Partners was formed in 1998 and is based in New York City.


DEAL STATS #
Overall 1 of 10
Sector (Communications) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 5
State (Illinois) 1 of 1
Country (United States) 1 of 10
Year (2001) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-05-10 PrimeCo Personal Communications

Itasca, Illinois, United States

PrimeCo Personal Communications LLC is a wireless telecommunication services provider.

Sell $610M