M&A Deal Summary

Crossplane Capital and Graycliff Partners Acquire Griffin Dewatering

On December 2, 2020, private equity firms Crossplane Capital and Graycliff Partners acquired machinery company Griffin Dewatering

Acquisition Highlights
  • This is Crossplane Capital’s 1st and Graycliff Partners’ 4th transaction in the Machinery sector.
  • This is Crossplane Capital’s 4th and Graycliff Partners’ 46th transaction in the United States.
  • This is Crossplane Capital’s 2nd and Graycliff Partners’ 4th transaction in Texas.

M&A Deal Summary

Date 2020-12-02
Target Griffin Dewatering
Sector Machinery
Buyer(s) Crossplane Capital
Graycliff Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Griffin Dewatering

Houston, Texas, United States
Griffin Dewatering is a provider of groundwater control solutions for large scale civil and infrastructure, industrial, power and commercial construction. Griffin offers unique design, engineering, permitting and system installation capabilities with an extensive fleet of specialized pump equipment. Griffin Dewatering was founded in 1934 and is based in Houston, Texas.

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Buyer(S) 2

DESCRIPTION

Crossplane Capital is a private equity firm focused on acquiring family-owned or other complex situations in the industrial sector. The Firm prefers control equity investments in businesses generating $40 to $200 million of revenue and valued up to $120 million. In addition to family-owned companies, Crossplane will consider restructurings, carve-outs, and bankruptcies. The Firm's geographic coverage includes the US and Canada. Crossplane Capital was established in 2018 and is based in Dallas, Texas.


DEAL STATS #
Overall 4 of 9
Sector (Machinery) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 3 of 3
State (Texas) 2 of 5
Country (United States) 4 of 9
Year (2020) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Empower Rental Group

Franklin, Tennessee, United States

ERG is a local equipment rental company. ERG maintains a broad offering of high-quality construction rental equipment for customers in commercial and industrial end markets. ERG was founded in 2020 and is based in Franklin, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-03 Domino Equipment

Oklahoma, Oklahoma, United States

Domino Equipment is a value-added distributor and servicer of the fuel station and car wash equipment as well as an operator of 13 car washes in Oklahoma. Domino is an authorized service provider and distributor of Wayne Fueling Systems fuel dispensers to hundreds of gas stations and convenience stores located throughout Oklahoma. Domino Equipment was founded in 1989 and is based in Oklahoma City.

Buy -
Buyer

Graycliff Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Graycliff Partners is a private equity firm focused on private equity and mezzanine investments in middle-market companies throughout the US. The Firm's mezzanine practice does not have any sector preferences and looks to invest $10 to $50 million in profitable companies with at least $10 million in revenue. Funds are used to support buyouts, growth needs, divestitures, or consolidations. Graycliff's private equity group looks to acquire middle-market companies in the manufacturing, service, and distribution sectors. The Firm looks for businesses with $10 to $200 million of revenue. Graycliff Partners was established in 1991 and is based in New York City.


DEAL STATS #
Overall 51 of 72
Sector (Machinery) 4 of 4
Type (Buyout (LBO, MBO, MBI)) 19 of 26
State (Texas) 4 of 6
Country (United States) 46 of 67
Year (2020) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-01 ATRO Engineered Systems

St. Clair, Missouri, United States

ATRO Engineered Systems is a designer, manufacturer, and distributor of polyurethane parts for heavy-duty trucks and equipment. ATRO Engineered Systems was founded in 1987 and is based in St. Clair, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-18 Wood Pro

Auburn, Massachusetts, United States

Wood Pro is a distributor of hardwood flooring, tile and related installation and finishing supplies to flooring contractors. The company has earned the title "The Wood Floor Experts" with distribution centers able to provide customers with a full array of materials, equipment, experience and expert advice for any floor project plus unmatched customer service. Wood Pro was founded in 1993 and is based in Auburn, Massachusetts.

Sell -