Cortec Group Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Cortec Group has acquired 2 companies.

Cortec Group’s most common sectors for investment are manufacturing (20%) and medical products (18%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (52%) and secondary buyout (37%). In total, Cortec Group has invested in 20 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 2009 when it acquired 180 Medical for $321M.

In the last 3 years, Cortec Group has exited 3 companies. The Firm’s most common exit type is secondary buyout (59%). Cortec Group’s largest (disclosed) exit occurred in 2008 when it sold The Cortland Companies for $230M.

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M&A Summary

  • M&A Total Activity70
    • M&A Buy Activity41
    • M&A Sell Activity29
  • Total Sectors Invested 16
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 20
  • M&A Advisors 6

Cortec Group

140 East 45th Street, 43rd Floor,
New York, New York 10017
United States
(212) 370-5600
www.cortecgroup.com

Cortec Group, Inc. is a private equity firm focused on acquiring mid-sized businesses operating in basic industries. Cortec seeks companies with revenues of at least $25 million and generally looks for businesses with proprietary products or services in industries spanning manufacturing, distribution, and services. Cortec will not invest in retail stores, fashion products, software, capital intensive companies, or manufacturers of commodity products. The Cortec Group was formed in 1984 and is based in New York City.


Investment Criteria

Sectors of Interest: Automotive, Building Materials, Business Services, Consumer Products, Consumer Services, Defense, Distribution, Electrical Equipment, Energy Services and Equipment, Healthcare Services, Machinery, Manufacturing, Marketing, Medical Products, Retail

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Recapitalization, Secondary Buyout

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

Transaction Criteria Min Max
Target Revenue 40 300
Target EBITDA 7 35
Investment Size - -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (1.2/yr) # 35 3 - 2 1 - 41
vol $553M $553M
Sell (1.0/yr) # 24 1 1 - 3 - 29
vol $702M $702M
  70

Most Recent M&A

Company Date Value Type
Vidaris, Inc. 2019-09-03 - Add-on Acquisition
New York, New York · www.vidaris.com
Rotating Machinery Services, Inc. 2019-06-18 - Secondary Buyout
Bethlehem, Pennsylvania · www.rotatingmachinery.com
Weiman Products LLC 2019-03-27 - Secondary Buyout
Gurnee, Illinois · www.weiman.com
Barcodes, Inc. 2019-01-23 - Secondary Buyout
Chicago, Illinois · www.barcodesinc.com
Window Nation, Inc. 2018-01-22 - Recapitalization
Glen Burnie, Maryland · www.windownation.com
Groome Holdings LLC 2018-01-22 - Recapitalization
Athens, Georgia · www.groometransportation.com
Cranial Technologies, Inc. 2017-05-15 - Secondary Buyout
Tempe, Arizona · www.cranialtech.com
The Eye Academy of America Ltd. (ICON Eyecare) 2016-12-14 - Recapitalization
Denver, Colorado · www.iconlasik.com
Franklin Energy Services LLC 2016-10-31 - Secondary Buyout
Port Washington, Wisconsin · www.franklinenergy.com
Chauvet & Sons LLC 2016-04-01 - Growth Capital
Sunrise, Florida · www.chauvetlighting.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Canadian Hospital Specialties Ltd. 2013-11-12 Inter V Medical, Inc. 2014-09-03 1
Oakville, Ontario · www.chsltd.com Montreal, Quebec · www.intervmedical.com

M&A by Sector

Sector Current # Value All-time # Value
Manufacturing 3 (19%) - 8 (20%) -
Medical Products 2 (13%) - 7 (17%) 321M (58%)
Healthcare Services 4 (25%) - 5 (12%) -
Building Materials - - 4 (10%) -
Consumer Products 2 (13%) - 4 (10%) -
Business Services 1 (6%) - 2 (5%) 232M (42%)
Electrical Equipment 1 (6%) - 2 (5%) -
Apparel/Textiles - - 1 (2%) -
Automotive - - 1 (2%) -
Distribution 1 (6%) - 1 (2%) -
Engineering - - 1 (2%) -
Internet Software and Services - - 1 (2%) -
Machinery 1 (6%) - 1 (2%) -
Technology Hardware - - 1 (2%) -
Transportation 1 (6%) - 1 (2%) -
Utilities - - 1 (2%) -
Total 16 - 41 $553M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 15 (94%) - 40 (98%) 553M (100%)
  New York 2 (13%) - 6 (15%) -
  Florida 3 (19%) - 4 (10%) -
  Illinois - - 4 (10%) -
  Indiana 1 (6%) - 3 (7%) -
  Georgia 1 (6%) - 3 (7%) -
  Maryland 2 (13%) - 2 (5%) -
  Pennsylvania 2 (13%) - 2 (5%) -
  Texas 1 (6%) - 2 (5%) -
  Ohio - - 2 (5%) 232M (42%)
  New Jersey - - 2 (5%) -
  Colorado 1 (6%) - 1 (2%) -
  North Carolina 1 (6%) - 1 (2%) -
  Oklahoma - - 1 (2%) 321M (58%)
  Nebraska - - 1 (2%) -
  Massachusetts - - 1 (2%) -
  California - - 1 (2%) -
  Arizona - - 1 (2%) -
  Alabama - - 1 (2%) -
  Wisconsin - - 1 (2%) -
Canada 1 (6%) - 1 (2%) -
  Ontario 1 (6%) - 1 (2%) -
Domestic 15 (94%) - 40 (98%) 553M (100%)
Cross-border 1 (6%) - 1 (2%) -
Total 16 - 41 $553M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 5 (31%) - 21 (51%) 321M (58%)
Secondary Buyout 6 (38%) - 15 (37%) 232M (42%)
Recapitalization 3 (19%) - 3 (7%) -
Divestiture 1 (6%) - 1 (2%) -
Growth Capital 1 (6%) - 1 (2%) -
Total 16 - 41 $553M

Exits by Deal Type

Type Total # Value
Secondary Sale 17 (59%) 145M (21%)
Trade Sale - Public Company 5 (17%) 557M (79%)
Trade Sale 4 (14%) -
Bankruptcy 2 (7%) -
Unknown 1 (3%) -
Total 29 $702M

Top M&A Advisors

Financial Deals
Harris Williams & Co.
3
The Walden Group, Inc.
2
CIT Capital Securities LLC
1
Legal Deals
Paul Hastings LLP
3
Jones Day
3
DLA Piper
1

Deal Values

buy # Total
$100M to $1B 2 $553M
TOTAL $553M
Largest 180 Medical, Inc.
$321M (2009-09-16)
sell # Total
$100M to $1B 4 $702M
TOTAL $702M
Largest The Cortland Companies, Inc.
$230M (2008-09-17)

M&A Connections

Deals %
Acquired from
PE Firm(s)
100%
22 100%
Exited to
PE Firm(s)
71%
24 71%
Strategic(s)
29%
10 29%

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