M&A Deal Summary

Greenbriar Equity Group Acquires Ryan Herco Flow Solutions

On April 7, 2011, private equity firm Greenbriar Equity Group acquired distribution company Ryan Herco Flow Solutions from MPE Partners, Stonehenge Partners and CID Capital

Acquisition Highlights
  • This is Greenbriar Equity Group’s 3rd transaction in the Distribution sector.
  • This is Greenbriar Equity Group’s 11th transaction in the United States.
  • This is Greenbriar Equity Group’s 1st transaction in California.
Investment Fate
  • Ryan Herco Flow Solutions was sold to a strategic buyer in 2018.

M&A Deal Summary

Date 2011-04-07
Target Ryan Herco Flow Solutions
Sector Distribution
Buyer(s) Greenbriar Equity Group
Sellers(s) MPE Partners
Stonehenge Partners
CID Capital
Deal Type Secondary Buyout

Target

Ryan Herco Flow Solutions

Burbank, California, United States
Ryan Herco Flow Solutions, Inc. is a distributor of corrosion-resistant fluid handling, filtration and flow control products in the United States with a growing presence in Asia. Ryan Herco Flow Solutions was founded in 1948 and is based in Burbank, California.

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Buyer(S) 1

Buyer

Greenbriar Equity Group

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Greenbriar Equity Group is a specialized private equity firm focused on investing in the global transportation and advanced manufacturing industries. Companies of interest include traditional carriers, such as railroads, cruise lines, airlines, air freight, shipping, and trucking, as well as ancillary manufacturers and service companies that support the transportation industry. Greenbriar will consider making majority as well as minority investments through a variety of structures, including leveraged buyouts, recapitalizations, growth capital investments, corporate joint ventures and privatizations. The Firm targets businesses valued from $100 million to $1 billion. Greenbriar Equity was formed in 1999 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 12 of 47
Sector: Distribution M&A 3 of 6
Type: Secondary Buyout M&A Deals 3 of 22
State: California M&A 1 of 7
Country: United States M&A 11 of 42
Year: 2011 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-01 Ardmore Shipping

Hamilton, Bermuda

Ardmore owns and operates a modern, fuel-efficient fleet of mid-size product and chemical tankers. The Company is engaged in the seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-24 Active Aero Group Holdings

Belleville, Michigan, United States

Active Aero Group Holdings, Inc. is a full service premium logistics and expedited air cargo companies servicing the on-demand air freight and ground market segments in North America.

Sell -

Seller(S) 3

SELLER

MPE Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 3.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

MPE Partners is a Midwest based investment firm principally focused private equity investments throughout North America. MPE has a preference for buyouts and recapitalizations of lower middle-market, family and entrepreneur owned businesses. The Firm looks for stand-alone companies operating in the 'high-value' manufacturing or business services sectors. MPE seeks businesses with at least $5 million of EBITDA and valued up to $250 million. MPE Partners is headquartered in Cleveland, Ohio.


DEAL STATS #
Overall 33 of 59
Sector: Distribution M&A 1 of 2
Type: Secondary Buyout M&A Deals 6 of 12
State: California M&A 16 of 23
Country: United States M&A 31 of 57
Year: 2011 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-13 Ardian

Mountain View, California, United States

Ardian, Inc. is a developer of catheter-based therapies to treat hypertension and related conditions. Ardian is the eighth company created by The Foundry, a leading medical device incubator.

Sell $800M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-01 Miramar Labs

Sunnyvale, California, United States

Miramar Labs is a privately owned medical device company dedicated to launching the next generation energy modality to treat dermatologic medical conditions. Miramar Labs was founded in 2006 and is based in Sunnyvale, California.

Buy -
SELLER

Stonehenge Partners

Columbus, Ohio, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stonehenge Partners is a private equity firm that seeks equity and mezzanine investments in lower middle-market companies with at least $10 million in sales. Stonehenge looks to invest ranging from $10 million to $50 million of equity/junior capital to support management buyouts, leveraged acquisitions, recapitalizations, and growth capital financings. Stonehenge prefers businesses operating in manufacturing, distribution, business services and healthcare. Stonehenge avoids investing in real estate, oil and gas, high technology and 'industries that are susceptible to a high degree of cyclicality'. Stonehenge was formed in 1999 and is based in Columbus, Ohio.


DEAL STATS #
Overall 18 of 40
Sector: Distribution M&A 1 of 3
Type: Secondary Buyout M&A Deals 7 of 16
State: California M&A 1 of 2
Country: United States M&A 18 of 39
Year: 2011 M&A 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-23 American Surgical Professionals

Houston, Texas, United States

American Surgical Professionals is a provider of surgical assistance solutions in the United States. For twenty years, ASP has partnered with healthcare facilities to manage and minimize staffing complexities and the expense associated with surgery, measurably improving patient outcomes. American Surgical Professionals was formed in 1999 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-21 SensorTran

Austin, Texas, United States

SensorTran is an ISO 9001 certified, global supplier of fiber optic-based distributed monitoring solutions. Customers benefiting from SensorTran's distributed temperature sensing (DTS) technology include many of the world's largest energy providers. DTS systems, which can be customized for any language, have applications in downhole oil and gas, transmission and distribution power cable monitoring, pipeline flow assurance and leak detection, and environmental monitoring.

Sell -
SELLER

CID Capital

Carmel, Indiana, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

CID Capital is a private investment firm that makes both venture capital and private equity investments. CID's private equity practice invests $10 to $15 million of equity capital in lower middle-market companies with $10 to $100 million of revenue and at least $3 million of cash-flow. Funds are generally used to support divestitures, management buyouts, leveraged buyouts, shareholder liquidity, recapitalization, and growth financing. Areas of interest include industrial products and services, general distribution, safety and security products, branded consumer products, medical products and services, building products, and food manufacturing. The Firm prefers investments located within the US. CID Capital was formed in 1981 and is based in Indianapolis, Indiana.


DEAL STATS #
Overall 14 of 26
Sector: Distribution M&A 2 of 4
Type: Secondary Buyout M&A Deals 6 of 12
State: California M&A 3 of 3
Country: United States M&A 14 of 26
Year: 2011 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-08 SCN BestCo

Santa Cruz, California, United States

SCN BestCo is a manufacturer of gummy based nutritional products and dietary supplements for consumers of all ages. Santa Cruz Nutritionals develops proprietary formulations and a unique manufacturing process that deliver active ingredients through great tasting, high quality chewable products. SCN BestCo was founded in 1968 and is based in Santa Cruz, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-14 Westone Laboratories

Colorado Springs, Colorado, United States

Westone Laboratories, Inc. is a designer and manufacturer of high-quality hearing healthcare and in-ear audio solutions, with products ranging from hearing protection devices and audiology supplies to custom hearing aid earpieces and high-fidelity earphones. Westone Laboratories was founded in 1959 and is based in Colorado Springs, Colorado.

Buy -