M&A Deal Summary

CMC Acquires Lofland Acquisition

On December 23, 2003, CMC acquired distribution company Lofland Acquisition from Dakota Capital Partners, Quabbin Capital, Laud Collier Capital and TGF Management for 47M USD

Acquisition Highlights
  • This is CMC’s 1st transaction in the Distribution sector.
  • This is CMC’s 2nd largest (disclosed) transaction.
  • This is CMC’s 4th transaction in the United States.
  • This is CMC’s 2nd transaction in Texas.

M&A Deal Summary

Date 2003-12-23
Target Lofland Acquisition
Sector Distribution
Buyer(s) CMC
Sellers(s) Dakota Capital Partners
Quabbin Capital
Laud Collier Capital
TGF Management
Deal Type Add-on Acquisition
Deal Value 47M USD

Target

Lofland Acquisition

Houston, Texas, United States
Lofland Acquisition, Inc. is a distributor of steel rebar and other construction related products.

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Buyer(S) 1

Buyer

CMC

Irving, Texas, United States

website


Category Company
Founded 1915
Sector Metals/Mining
Employees12,483
Revenue 8.9B USD (2022)
DESCRIPTION
Entrance to Commercial Metals' corporate headquarters in Irving, Texas.
Entrance to Commercial Metals' corporate headquarters in Irving, Texas.

CMC is a global manufacturer, recycler, marketer and distributor of steel and metal products, related materials and services. CMC was incorporated in 1915 and is based in Irving, Texas.


DEAL STATS #
Overall 4 of 19
Sector (Distribution) 1 of 2
Type (Add-on Acquisition) 4 of 18
State (Texas) 2 of 5
Country (United States) 4 of 17
Year (2003) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1993-01-01 Shepler’s Equipment

Louisiana, United States

Shepler’s Equipment Co. is a manufacturer of concrete-related machinery.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-02 CMC Poland Sp. z o.o.

Zawiercie, Poland

CMC Poland Sp. z o.o. is a manufacturers of fabricated rebar and wire mesh in Poland.

Buy -

Seller(S) 4

SELLER

Dakota Capital Partners

Dallas, Texas, United States

website


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

Dakota Capital is a private investment firm focused on middle-market manufacturing and service company acquisitions. Dakota Capital targets growth oriented companies with $10 to $100 million in annual revenues located in the continental US. Prospective transaction situations include recapitalizations, management buyouts, generational changes of ownership and corporate divestitures. The Firm will not invest in retail, real estate, natural resources, turnarounds, distressed companies or startups. Dakota Capital is based in Dallas, Texas.


DEAL STATS #
Overall 1 of 2
Sector (Distribution) 1 of 2
Type (Add-on Acquisition) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 2
Year (2003) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 Lofland Acquisition

Houston, Texas, United States

Lofland Acquisition, Inc. is a distributor of steel rebar and other construction related products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-12 Orleans Group International

Boca Raton, Florida, United States

Orleans Group International is an importer and distributor of cigars, cigar accessories, and other related products. Their brands include Don Salvatore, Cigar Classics, Wall Street, and Mardi Gras. Orleans Group International was founded in 1995 and is based in Boca Raton, Florida.

Sell -
SELLER

Quabbin Capital

Boston, Massachusetts, United States

Investor Investor Investor Investor

website


Category Asset Manager
Founded 1974
Size Small
Type Sector Agnostic
DESCRIPTION

Quabbin Capital is private investment group focused on alternative asset investments in the US and abroad. Quabbin looks for opportunities in private equity, mezzanine loans, venture capital, energy, real estate, and hedge funds. Within private equity, Quabbin pursues equity and junior capital investments in established, profitable manufacturing or business service companies with revenues of $10 to $50 million. Quabbin Capital was formed in 1974 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 1 of 7
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 1 of 5
State (Texas) 1 of 3
Country (United States) 1 of 7
Year (2003) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-10-01 Healthy Pet

Shelton, Connecticut, United States

Healthy Pet Corp. is an operator of veterinary hospitals in the eastern United States.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 Library Systems & Services

Riverside, California, United States

Library Systems & Services LLC is a provider of outsourced library management services to municipalities in the United States. The company provides comprehensive, turnkey management services. Library Systems & Services was founded in 1981 and is based in Riverside, California.

Buy -
SELLER

Laud Collier Capital

Short Hills, New Jersey, United States

Investor Investor Investor

website


Category Merchant Bank
Founded 2002
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Laud Collier Capital LLC is a private equity firm focused on acquiring controlling interests in US based middle-market companies. Sectors of interest include basic materials, consumer products, business services, distribution, and transportation. Laud Collier looks to commit $5 to $25 million of equity capital per transaction in companies valued up to $150 million. Laud Collier will not invest in oil and gas exploration, real estate, technology development, or retailing. Laud Collier Capital LLC was formed in 2002 and is based in Chatham, New Jersey.


DEAL STATS #
Overall 3 of 11
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 1 of 6
State (Texas) 1 of 1
Country (United States) 3 of 11
Year (2003) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-05-28 Berry

Evansville, Indiana, United States

Berry is a manufacturer and marketer of plastic packaging products for personal care, household, industrial and transportation markets. Berry was incorporated in 1967 and is headquartered in Evansville, Indiana.

Buy $838M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-30 The Evercare

Alpharetta, Georgia, United States

Manufacturer and distributor of personal and household care products including lint rollers, clothes brushes, and closet products.

Buy -
SELLER

TGF Management

Austin, Texas, United States

website


Category Private Equity Firm
Founded 1992
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

TGF Management is a private equity firm focused on management buyouts and recapitalizations of profitable, middle-market companies generating sales of $50 to $250 million and EBITDA of $5 of $25 million. Areas of interest include manufacturing, distribution, construction, industrial service, outsourced business services, food, and consumer products. TGF's target investment size is $25 to $100 million and the Firm's geographic focus is on opportunities in the Southwest US. TGF will not invest in oil/gas exploration and production companies, real estate, and businesses with 'significant technology risk'. TGF Management was formed in 1992 and is based in Austin, Texas.


DEAL STATS #
Overall 4 of 18
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 1 of 8
State (Texas) 2 of 13
Country (United States) 4 of 18
Year (2003) 1 of 1
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-17 First Texas Holdings

El Paso, Texas, United States

First Texas Holdings Corp. is a producer of metal detectors for treasure hunting and consumer night vision products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-01 Orion Marine Group

Houston, Texas, United States

Orion Marine Group is an operator, and maintains a fleet of more than 400 pieces of specialized marine equipment. Its specialty services include salvage, demolition, diving, surveying, towing and underwater inspection, excavation and repair. Orion Marine Group was founded in 1994 and is based in Houston, Texas.

Buy $32M