M&A Deal Summary

GCP Capital Partners Acquires First Equity Card

On October 20, 2006, merchant bank GCP Capital Partners acquired safety/security company First Equity Card Corp. from Slate Capital Group and Navigation Capital Partners for 56M USD

Acquisition Highlights
  • This is GCP Capital Partners’ 1st transaction in the Safety/Security sector.
  • This is GCP Capital Partners’ 6th largest (disclosed) transaction.
  • This is GCP Capital Partners’ 15th transaction in the United States.
  • This is GCP Capital Partners’ 2nd transaction in Pennsylvania.

M&A Deal Summary

Date 2006-10-20
Target First Equity Card Corp.
Sector Safety/Security
Buyer(s) GCP Capital Partners
Sellers(s) Slate Capital Group
Navigation Capital Partners
Deal Type Recapitalization
Deal Value 56M USD

Target

First Equity Card Corp.

North Wales, Pennsylvania, United States
First Equity Card Corp. is a provider of business credit solutions, including a highly innovative credit card program designed around the needs of small businesses.

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Buyer(S) 1

Buyer

GCP Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Merchant Bank
Founded 2000
PE ASSETS 1.2B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

GCP Capital Partners consists of GCP US, GCP Europe, and GCP Venture. GCP US targets North American acquisitions. The unit looks to invest $5 to $40 million in businesses valued up to $500 million. GCP Europe targets businesses in the UK and Europe. The European team looks to invest up to £40 million in companies valued up to £100 million. Sectors of interest include business services, education, energy, financial services, insurance and telecommunications.


DEAL STATS #
Overall 16 of 39
Sector (Safety/Security) 1 of 1
Type (Recapitalization) 1 of 2
State (Pennsylvania) 2 of 4
Country (United States) 15 of 37
Year (2006) 2 of 4
Size (of disclosed) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-02 EXCO Resources, Inc.

Dallas, Texas, United States

EXCO is an oil and natural gas company engaged in the exploitation, exploration, acquisition, development and production of onshore U.S. oil and natural gas properties with a focus on shale resource plays. EXCO was founded in 1955 and is based in Dallas, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-21 Peachtree Settlement Funding, LLC

Radnor, Pennsylvania, United States

Peachtree Settlement Funding, LLC is a specialty finance company that purchases structured legal settlements and other payment streams to provide tax-efficient liquidity to consumers.

Buy £402M

Seller(S) 2

SELLER

Slate Capital Group

Baltimore, Maryland, United States

Investor Investor Investor

website


Category Private Equity Firm
Founded 2004
SizeSmall
Type Sector Agnostic
DESCRIPTION

Slate Capital Group is a private equity firm focused on acquiring controlling interests in small to mid-sized companies with $3 to $15 million of EBITDA. The Firm prefers companies headquartered in the Eastern half of the US and targets businesses operating in the business services, distribution, light manufacturing, and food & beverage sectors. Prospective companies typically exhibit recurring revenue, sustainable margins, identifiable growth opportunities, and significant barriers to entry. Slate Capital Group was formed in 2004 and is based in Baltimore, Maryland.


DEAL STATS #
Overall 1 of 5
Sector (Safety/Security) 1 of 1
Type (Recapitalization) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 5
Year (2006) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-31 First Equity Card Corp.

North Wales, Pennsylvania, United States

First Equity Card Corp. is a provider of business credit solutions, including a highly innovative credit card program designed around the needs of small businesses.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-15 DoublePositive Marketing Group, Inc.

Baltimore, Maryland, United States

DoublePositive Marketing Group, Inc. is an online marketing company for lead buyers and lead sellers, and direct response advertisers.

Buy -
SELLER

Navigation Capital Partners

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2006
PE ASSETS 340M USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

Navigation Capital Partners (NCP) is a private equity firm that makes growth and buyout investments in established mid-market companies with longstanding customer relationships, proprietary manufacturing processes, and mission-critical services. Target companies typically have annual sales up to $150 million and the firm can commit between $10 and $40 million of equity capital per transaction. Sectors of interest include engineered industrial products, automotive & recreational vehicle components, building & construction products, packaging products & services, specialty chemicals, value-added distribution, business services, financial services, healthcare services, and transportation/logistics. Navigation Capital Partners is based in Atlanta, Georgia.


DEAL STATS #
Overall 9 of 24
Sector (Safety/Security) 1 of 1
Type (Recapitalization) 1 of 2
State (Pennsylvania) 1 of 3
Country (United States) 9 of 24
Year (2006) 4 of 4
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-03 Princeton eCom Corp.

Chantilly, Virginia, United States

Princeton eCom Corp is a provider of electronic payment solutions to more than 1,400 financial institutions and 1,600 corporate billers. Its integrated suite of payment solutions bridges the CSP and BSP markets, providing electronic payment consolidation, convenience payments and bill presentment services.

Sell $180M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-01 Conclusive Analytics, Inc.

Charlotte, North Carolina, United States

Conclusive Marketing provides data-driven solutions to manage, analyze and deliver marketing programs to more than 2,000 leading companies, working with them to improve paradigms for how they secure and service customers.

Buy -