Frontenac Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Frontenac has acquired 11 companies. It has also invested in 1 other.

Frontenac’s most common sectors for investment areinformation technology (14%) and business services (14%) . The Firm’s most common investment types include recapitalization (36%) and buyout (lbo, mbo, mbi) (32%). In total, Frontenac has invested in 24 US states and 4 different countries. Its largest (disclosed) acquisition occurred in 2001 when it acquired Nth Degree for $150M.

In the last 3 years, Frontenac has exited 7 companies. The Firm’s most common exit type is trade sale (38%). Frontenac’s largest (disclosed) exit occurred in 1999 when it sold Platinum Technology International for $3.5B.

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M&A Summary

M&A Total Activity135
- M&A Buy Activity76
- M&A Sell Activity59
Total Sectors Invested 21
Total Countries Invested 4
M&A Buy/Sell Connections 41
M&A Advisors 7

Frontenac

Frontenac Company LLC

Transaction Criteria	Min	Max
Target Revenue	-	-
Target EBITDA	5	25
Investment Size	25	75
Enterprise Value	-	-
values in millions of USD

Transaction Criteria

Min

Max

Target Revenue

Target EBITDA

Investment Size

Enterprise Value

values in millions of USD

Year	≤ '18	'19	'20	'21	'22	'23	T
Buy (2.4/yr)	#	64	-	4	4	3	1	76
vol	$305M						$305M
Sell (1.6/yr)	#	51	1	1	3	1	2	59
vol	$5.7B					$189M	$5.9B
	135

Year

≤ '18

'19

'20

'21

'22

'23

Buy (2.4/yr)

vol

$305M

Sell (1.6/yr)

vol

$5.7B

$189M

$5.9B

135

Company	Date	Value	Type
Bearing Engineers, Inc.	2023-11-14	189M USD	Trade Sale
Aliso Viejo, California · www.motionsolutions.com
Chan & Chan, Inc.	2023-10-19	-	Recapitalization
Bethlehem, Pennsylvania · www.chanchaninc.com
Excellarate	2023-01-26	-	Trade Sale
Wayne, Pennsylvania · www.excellarate.com
CertainPath	2022-11-10	-	Recapitalization
Addison, Texas · www.mycertainpath.com
Zipline Logistics	2022-10-20	-	Growth Capital
Columbus, Ohio · www.ziplinelogistics.com
Spice Chain Corporation	2022-09-20	-	Trade Sale
East Brunswick, New Jersey · www.spicechain.com
Dealer Services Network LLC	2022-03-29	-	Recapitalization
Deerfield Beach, Florida · www.dsn.net
TPC Training	2021-12-02	-	Trade Sale
Buffalo Grove, Illinois · www.tpctraining.com
RCG Global Services, Inc.	2021-11-10	-	Secondary Buyout
Iselin, New Jersey · www.rcgglobalservices.com
Engineered Fastener Co.	2021-11-03	-	Secondary Buyout
St. Louis, Missouri · www.efc-intl.com
View All >>

Company

Date

Value

Type

Bearing Engineers, Inc.

2023-11-14

189M USD

Trade Sale

Aliso Viejo, California · www.motionsolutions.com

Chan & Chan, Inc.

2023-10-19

Recapitalization

Bethlehem, Pennsylvania · www.chanchaninc.com

Excellarate

2023-01-26

Trade Sale

Wayne, Pennsylvania · www.excellarate.com

CertainPath

2022-11-10

Recapitalization

Addison, Texas · www.mycertainpath.com

Zipline Logistics

2022-10-20

Growth Capital

Columbus, Ohio · www.ziplinelogistics.com

Spice Chain Corporation

2022-09-20

Trade Sale

East Brunswick, New Jersey · www.spicechain.com

Dealer Services Network LLC

2022-03-29

Recapitalization

Deerfield Beach, Florida · www.dsn.net

TPC Training

2021-12-02

Trade Sale

Buffalo Grove, Illinois · www.tpctraining.com

RCG Global Services, Inc.

2021-11-10

Secondary Buyout

Iselin, New Jersey · www.rcgglobalservices.com

Engineered Fastener Co.

2021-11-03

Secondary Buyout

St. Louis, Missouri · www.efc-intl.com

View All >>

Sector	Current #	Value	All-time #	Value
Business Services	-	-	10 (13%)	180M (59%)
Information Technology	2 (15%)	-	10 (13%)	-
Distribution	2 (15%)	-	9 (12%)	-
Food	3 (23%)	-	9 (12%)	-
Healthcare Services	-	-	7 (9%)	-
Education	1 (8%)	-	4 (5%)	-
Marketing	-	-	3 (4%)	125M (41%)
Insurance	-	-	3 (4%)	-
Software	-	-	3 (4%)	-
Consumer Products	1 (8%)	-	2 (3%)	-
Consumer Services	-	-	2 (3%)	-
Information Services	2 (15%)	-	2 (3%)	-
Media	-	-	2 (3%)	-
Medical Products	-	-	2 (3%)	-
Restaurants	-	-	2 (3%)	-
Communications	-	-	1 (1%)	-
Environmental	1 (8%)	-	1 (1%)	-
Manufacturing	-	-	1 (1%)	-
Packaging	-	-	1 (1%)	-
Staffing	-	-	1 (1%)	-
Transportation	1 (8%)	-	1 (1%)	-
Total	13	-	76	$305M

Sector

Current #

Value

All-time #

Value

Business Services

10 (13%)

180M (59%)

Information Technology

2 (15%)

10 (13%)

Distribution

2 (15%)

9 (12%)

Food

3 (23%)

9 (12%)

Healthcare Services

7 (9%)

Education

1 (8%)

4 (5%)

Marketing

3 (4%)

125M (41%)

Insurance

3 (4%)

Software

3 (4%)

Consumer Products

1 (8%)

2 (3%)

Consumer Services

2 (3%)

Information Services

2 (15%)

2 (3%)

Media

2 (3%)

Medical Products

2 (3%)

Restaurants

2 (3%)

Communications

1 (1%)

Environmental

1 (8%)

1 (1%)

Manufacturing

1 (1%)

Packaging

1 (1%)

Staffing

1 (1%)

Transportation

1 (8%)

1 (1%)

Total

$305M

State/Country	Current #	Value	All-time #	Value
United States	11 (85%)	-	72 (95%)	305M (100%)
	California	1 (8%)	-	12 (16%)	-
	New Jersey	2 (15%)	-	6 (8%)	125M (41%)
	Texas	1 (8%)	-	5 (7%)	-
	Pennsylvania	2 (15%)	-	4 (5%)	-
	Florida	1 (8%)	-	4 (5%)	30M (10%)
	Missouri	1 (8%)	-	4 (5%)	-
	Tennessee	-	-	4 (5%)	-
	Illinois	-	-	4 (5%)	-
	Georgia	-	-	3 (4%)	150M (49%)
	Virginia	-	-	3 (4%)	-
	New York	-	-	3 (4%)	-
	Kentucky	-	-	3 (4%)	-
	Connecticut	-	-	3 (4%)	-
	Ohio	1 (8%)	-	2 (3%)	-
	Michigan	1 (8%)	-	2 (3%)	-
	Maine	1 (8%)	-	1 (1%)	-
	Utah	-	-	1 (1%)	-
	North Carolina	-	-	1 (1%)	-
	Minnesota	-	-	1 (1%)	-
	Indiana	-	-	1 (1%)	-
	Hawaii	-	-	1 (1%)	-
	District of Columbia	-	-	1 (1%)	-
	Colorado	-	-	1 (1%)	-
	Wisconsin	-	-	1 (1%)	-
Canada	2 (15%)	-	2 (3%)	-
	Ontario	2 (15%)	-	2 (3%)	-
Germany	-	-	1 (1%)	-
Ireland	-	-	1 (1%)	-
Domestic	11 (85%)	-	72 (95%)	305M (100%)
Cross-border	2 (15%)	-	4 (5%)	-
Total	13	-	76	$305M

State/Country

Current #

Value

All-time #

Value

United States

11 (85%)

72 (95%)

305M (100%)

California

1 (8%)

12 (16%)

New Jersey

2 (15%)

6 (8%)

125M (41%)

Texas

1 (8%)

5 (7%)

Pennsylvania

2 (15%)

4 (5%)

Florida

1 (8%)

4 (5%)

30M (10%)

Missouri

1 (8%)

4 (5%)

Tennessee

4 (5%)

Illinois

4 (5%)

Georgia

3 (4%)

150M (49%)

Virginia

3 (4%)

New York

3 (4%)

Kentucky

3 (4%)

Connecticut

3 (4%)

Ohio

1 (8%)

2 (3%)

Michigan

1 (8%)

2 (3%)

Maine

1 (8%)

1 (1%)

Utah

1 (1%)

North Carolina

1 (1%)

Minnesota

1 (1%)

Indiana

1 (1%)

Hawaii

1 (1%)

District of Columbia

1 (1%)

Colorado

1 (1%)

Wisconsin

1 (1%)

Canada

2 (15%)

2 (3%)

Ontario

2 (15%)

2 (3%)

Germany

1 (1%)

Ireland

1 (1%)

Domestic

11 (85%)

72 (95%)

305M (100%)

Cross-border

2 (15%)

4 (5%)

Total

$305M

Type	Current #	Value	All-time #	Value
Recapitalization	9 (69%)	-	27 (36%)	-
Buyout (LBO, MBO, MBI)	-	-	24 (32%)	305M (100%)
Stake Purchase	-	-	12 (16%)	-
Secondary Buyout	3 (23%)	-	8 (11%)	-
Growth Capital	1 (8%)	-	3 (4%)	-
Consolidation	-	-	2 (3%)	-
Total	13	-	76	$305M

Type

Current #

Value

All-time #

Value

Recapitalization

9 (69%)

27 (36%)

Buyout (LBO, MBO, MBI)

24 (32%)

305M (100%)

Stake Purchase

12 (16%)

Secondary Buyout

3 (23%)

8 (11%)

Growth Capital

1 (8%)

3 (4%)

Consolidation

2 (3%)

Total

$305M

Type	Total #	Value
Trade Sale	21 (36%)	427M (8%)
Trade Sale - Public Company	13 (22%)	5.1B (92%)
Secondary Sale	13 (22%)	-
IPO	6 (10%)	-
Merger	3 (5%)	-
Bankruptcy	1 (2%)	-
Sold to Existing Investors	1 (2%)	-
Unknown	1 (2%)	-
Total	59	$5.5B

Type

Total #

Value

Trade Sale

21 (36%)

427M (8%)

Trade Sale - Public Company

13 (22%)

5.1B (92%)

Secondary Sale

13 (22%)

IPO

6 (10%)

Merger

3 (5%)

Bankruptcy

1 (2%)

Sold to Existing Investors

1 (2%)

Unknown

1 (2%)

Total

$5.5B

Financial	Deals
Houlihan Lokey	1
Harris Williams & Co.	1

Financial

Deals

Houlihan Lokey

Harris Williams & Co.

Legal	Deals
Honigman Miller Schwartz and Cohn LLP	5
Katten Muchin Rosenman	3
Kirkland & Ellis	2

Legal

Deals

Honigman Miller Schwartz and Cohn LLP

Katten Muchin Rosenman

Kirkland & Ellis

buy	#	Total
$100M to $1B	2	$275M
< $100M	1	$30M
TOTAL	$305M
Largest	Nth Degree, Inc. $150M (2001-04-19)

buy

Total

$100M to $1B

$275M

< $100M

$30M

TOTAL

$305M

Largest

Nth Degree, Inc.
$150M (2001-04-19)

sell	#	Total
> $1B	1	$3.5B
$100M to $1B	8	$1.9B
< $100M	7	$498M
TOTAL	$5.9B
Largest	Platinum Technology International, Inc. $3.5B (1999-05-28)

sell

Total

> $1B

$3.5B

$100M to $1B

$1.9B

< $100M

$498M

TOTAL

$5.9B

Largest

Platinum Technology International, Inc.
$3.5B (1999-05-28)

		Deals
Acquired from
Investor(s)	13%	10 (13%)
Strategic(s)	1%	1 (1%)
Exited to
Investor(s)	20%	12 (20%)
Strategic(s)	42%	25 (42%)

Deals

Acquired from

Investor(s)

10 (13%)

Strategic(s)

1 (1%)

Exited to

Investor(s)

12 (20%)

Strategic(s)

25 (42%)

FAQ

When was Frontenac founded?

Frontenac was founded in 1971.

What type of investor is Frontenac?

Frontenac is a private equity firm.

Where is Frontenac headquartered?

Frontenac is headquartered in Chicago, Illinois.

How much capital does Frontenac have under management?

Frontenac has 2.1B USD under management.

Frontenac Mergers and Acquisitions Summary

Private Equity Firm Profile

M&A Summary

Frontenac

Frontenac Company LLC

Investment Criteria

M&A Summary

Buy vs Sell

Most Recent M&A

M&A by Sector

Acquisitions By Geo

Acquisitions by Deal Type

Exits by Deal Type

Top M&A Advisors

Deal Values

M&A Connections

Investor Summary

Investor Type

Size

PE Assets

Established

Specialist/Generalist

Leadership

Paul Carbery

Walter Florence

Elizabeth Williamson

Joseph Rondinelli

Michael Langdon

FAQ

When was Frontenac founded?

What type of investor is Frontenac?

Where is Frontenac headquartered?

How much capital does Frontenac have under management?

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