M&A Deal Summary

Farragut Capital Partners Acquires Angelle Concrete Group

On December 1, 2005, mezzanine finance firm Farragut Capital Partners acquired building materials company Angelle Concrete Group from ShoreView Industries and NewStar Financial

Acquisition Highlights
  • This is Farragut Capital Partners’ 2nd transaction in the Building Materials sector.
  • This is Farragut Capital Partners’ 30th transaction in the United States.
  • This is Farragut Capital Partners’ 1st transaction in Louisiana.

M&A Deal Summary

Date 2005-12-01
Target Angelle Concrete Group
Sector Building Materials
Buyer(s) Farragut Capital Partners
Sellers(s) ShoreView Industries
NewStar Financial
Deal Type Secondary Buyout

Target

Angelle Concrete Group

Baton Rouge, Louisiana, United States
website
Angelle Concrete Group LLC is a vertically integrated construction materials company with operations in Louisiana, Texas and Tennessee. Angelle is a leading regional producer and supplier of ready-mixed concrete and is also one of the largest domestic, independently-owned importers of cement (the primary raw material in concrete) in the U.S.

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Buyer(S) 1

Buyer

Farragut Capital Partners

Chevy Chase, Maryland, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 2011
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Farragut Capital Partners LLC is a private investment firm that provides mezzanine and equity capital to help finance buyouts, generational transfers, growth capital financings, and recapitalizations. The Firm prefers asset-light businesses with unique and defensible market positions, stable business models, and reasonable capital expenditure and working capital needs. Sectors of interest include light and niche manufacturing, business services, distribution & logistics, and media. Farragut's target investment size is $2 to $10 million. Farragut Capital Partners was formed in 2011 and is based in Washington, District of Columbia.


DEAL STATS #
Overall 30 of 86
Sector (Building Materials) 2 of 3
Type (Secondary Buyout) 1 of 8
State (Louisiana) 1 of 1
Country (United States) 30 of 86
Year (2005) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-01 Jet Direct Aviation

Berwyn, Pennsylvania, United States

Jet Direct Aviation, LLC was formed as a consolidation opportunity in the multi-billion dollar private jet charter market of the aviation industry with the purpose of initially acquiring 100% of Summit Jet Corporation, a Long Island-based private jet charter business that is number three in the New York market. JetDirect seeks to provide private jet charter services in eight major markets across the U.S

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 B&M Racing & Performance Products

Chatsworth, California, United States

B&M Racing & Performance Products, Inc. is a designer, manufacturer and marketer of performance and racing drivetrain products and accessories.

Buy -

Seller(S) 2

SELLER
DESCRIPTION

ShoreView Industries is a middle-market private investment principally focused on partnering with family or entrepreneurial-owned companies. ShoreView will consider a variety of investment situations, including buyouts, leveraged recapitalizations, minority investments, and industry consolidations. Areas of interest include engineered products, distribution, industrial services, business services, and niche consumer products. ShoreView industries was established in 2002 and is headquartered in Minneapolis, Minnesota.


DEAL STATS #
Overall 1 of 27
Sector (Building Materials) 1 of 3
Type (Secondary Buyout) 1 of 10
State (Louisiana) 1 of 1
Country (United States) 1 of 26
Year (2005) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-01 Martin Logan

Lawrence, Kansas, United States

Martin Logan Ltd. produces mid- to high-end speakers and subwoofers for the home audio market. The company's product line, sold under the Martin Logan(tm) brand name, is aimed at music lovers, audiophiles and home theater enthusiasts, and includes 14 hybrid electrostatic/dynamic speaker products and four subwoofers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 TMI International

Pittsburgh, Pennsylvania, United States

TMI International LLC is a manufacturer and value-added distributor of industrial products, including strip doors, air doors, industrial curtains and separators, loading dock accessories, and flexible PVC products. The Company sells its products through distributors, catalog houses, and purchasing groups to a wide range of customers. Its end users include warehouses, manufacturing facilities, distribution centers, retail non-food facilities, restaurants, and food processing facilities.

Buy -
SELLER

NewStar Financial

Boston, Massachusetts, United States

website


Category Company
Founded 2004
Sector Financial Services
Employees122
Revenue 220M USD (2015)
DESCRIPTION

NewStar Financial, Inc. is an internally-managed, commercial finance company with $7.3 billion of assets managed across two complementary business lines — middle market direct lending and asset management. The Company's direct lending activities are focused on meeting the complex financing needs of companies and private investors in the middle markets through specialized lending groups that offer a range of flexible debt financing options. Credit investments are originated directly through teams of experienced, senior bankers and marketing officers organized around key industry and market segments. Through its asset management platforms, NewStar offers a range of investment products employing credit-oriented strategies focused on middle market loans and liquid, tradeable credit.


DEAL STATS #
Overall 1 of 6
Sector (Building Materials) 1 of 3
Type (Secondary Buyout) 1 of 2
State (Louisiana) 1 of 1
Country (United States) 1 of 6
Year (2005) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-30 Angelle Concrete Group

Baton Rouge, Louisiana, United States

Angelle Concrete Group LLC is a vertically integrated construction materials company with operations in Louisiana, Texas and Tennessee. Angelle is a leading regional producer and supplier of ready-mixed concrete and is also one of the largest domestic, independently-owned importers of cement (the primary raw material in concrete) in the U.S.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-28 CGI Windows and Doors

Miami, Florida, United States

CGI Windows and Doors is a producer of high quality, architectural-grade impact-resistant aluminum windows and doors. The Company?s products meet or exceed the most demanding testing standards and offer superior protection from high-velocity wind and airborne debris resulting from hurricanes and tropical storms. CGI services residential single and multifamily, commercial and government/institutional markets for new construction, remodeling and replacement applications.

Buy -