M&A Deal Summary

CVF Capital Partners and PNC Mezzanine Capital Acquires Molded Devices

On December 31, 2015, mezzanine finance firms CVF Capital Partners and PNC Mezzanine Capital acquired manufacturing company Molded Devices

Acquisition Highlights
  • This is CVF Capital Partners’ 2nd and PNC Mezzanine Capital’s 8th transaction in the Manufacturing sector.
  • This is CVF Capital Partners’ 19th and PNC Mezzanine Capital’s 51st transaction in the United States.
  • This is CVF Capital Partners’ 1st and PNC Mezzanine Capital’s 2nd transaction in Arizona.
Investment Fate
  • Molded Devices was sold to a financial buyer in 2022.

M&A Deal Summary

Date 2015-12-31
Target Molded Devices
Sector Manufacturing
Buyer(s) CVF Capital Partners
PNC Mezzanine Capital
Deal Type Recapitalization

Target

Molded Devices

Tempe, Arizona, United States
website
Molded Devices is a manufacturer of custom dip molded, dip-coated, and injection molded parts. MDI specializes in short run, small batch, custom molded products primarily for U.S.-based OEM customers in industrial, medical, and consumer end markets. Molded Devices was founded in 1998 and is based in Tempe, Arizona.

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Buyer(S) 2

Buyer

CVF Capital Partners

Davis, California, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 2005
SizeSmall
Type Sector Agnostic
DESCRIPTION

CVF Capital Partners is a private investment firm created to provide growth capital for small to mid-sized businesses located in the California Central Valley. CVF looks to commit $3 to $15 million of capital in the form of mezzanine debt to companies with revenues of 5 million, and at least $1 million of cash-flow. CVF funds are generally used to support business expansions, acquisitions, or to refinance. CVF was formed by the principals of Gael Partners. CVF Capital Partners was founded in 2005 and is based in Davis, California.


DEAL STATS #
Overall 19 of 27
Sector (Manufacturing) 2 of 2
Type (Recapitalization) 2 of 2
State (Arizona) 1 of 2
Country (United States) 19 of 27
Year (2015) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-01 LightRiver

Concord, California, United States

LightRiver is a provider of optical, data, and switching products and services for cloud data centers, government, enterprise, and utility sectors. LightRiver was founded in 1998 and is based in Concord, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-01 Paleteria La Michoacana

Modesto, California, United States

Paleteria La Michoacana is a producer, marketer, and distributor of premium ice cream and other fine desserts. The Company is known for its fine quality and methods used to produce its paletas, using natural fruits and ingredients of the highest quality. Paleteria La Michoacana was founded in 2002 and is based in Modesto, California.

Sell -
Buyer

PNC Mezzanine Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 1.5B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

PNC Mezzanine Capital is the subordinated debt investing arm of PNC Bank. PNC Mezzanine looks to provide $10 to $50 million of junior capital to middle-market companies in a variety of industries. Prospective companies generally have revenues of $20 million and EBITDA greater than $4 million. Broad sectors of interest include niche manufacturing, value-added distribution, and business or consumer services. PNC will not invest in early-stage or technology-driven businesses; real estate, commodity-based or capital-intensive companies; businesses with high customer or vendor concentration; or declining businesses. PNC Mezzanine was formed in 1989 and is based in Pittsburgh, Pennsylvania.


DEAL STATS #
Overall 52 of 72
Sector (Manufacturing) 8 of 9
Type (Recapitalization) 6 of 9
State (Arizona) 2 of 4
Country (United States) 51 of 69
Year (2015) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-15 Wheaton Industries

Millville, New Jersey, United States

Wheaton Industries, Inc. is a marketer, manufacturer and re-packager of containers, laboratory ware, instrumentation and associated products and services sold principally to customers in the general laboratory, life sciences, and diagnostics and reagent / chemicals packaging markets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Pet Partners

Wilton, New York, United States

Pet Partners LLC, headquartered in Wilton, NY, is an operator of 21 full-service veterinary hospitals. Services provided by Pet Partners' hospitals include health and wellness exams, vaccinations and surgery of various types, as well as some advanced and emergency services, focused on small companion animals. The Company currently operates 21 hospitals in eleven states east of Rocky Mountains and is actively looking to acquire additional hospitals.

Sell -