Gridiron Capital Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Gridiron Capital has acquired 7 companies. It has also invested in 2 others.

Gridiron Capital’s most common sectors for investment are business services (23%) and consumer products (15%). The Firm’s most common investment types include secondary buyout (38%) and buyout (lbo, mbo, mbi) (30%). In total, Gridiron Capital has invested in 17 US states.

In the last 3 years, Gridiron Capital has exited 6 companies. The Firm’s most common exit type is secondary buyout (47%). Gridiron Capital’s largest (disclosed) exit occurred in 2016 when it sold ESP/SurgeX for $130M.

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M&A Summary

  • M&A Total Activity40
    • M&A Buy Activity27
    • M&A Sell Activity13
  • Total Sectors Invested 15
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 15
  • M&A Advisors 4

Gridiron Capital LLC

220 Elm Street,
New Canaan, Connecticut 06840
United States
(203) 972-1100
www.gridironcapital.com
gconese@gridironcapital.com

Gridiron Capital is a private equity firm focused on acquiring mid-sized North American manufacturing, service and specialty consumer companies. Gridiron looks to commit companies with EBITDA up to $50 million. The Firm prefers controlling interests when considering transactions. Situations of interest include companies operating in sectors undergoing change, closely held companies owned by founding family or management for ownership transition, and corporate divestitures of orphaned or non-strategic business units. Gridiron Capital was formed in 2004 and is based in New Canaan, Connecticut.


Investment Criteria

Sectors of Interest: Aerospace, Building Materials, Business Services, Construction, Consumer Products, Consumer Services, Electrical Equipment, Machinery, Manufacturing, Restaurants, Retail, Staffing

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Recapitalization, Secondary Buyout

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 8 50
Investment Size - -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (1.8/yr) # 18 - 2 2 4 1 27
Sell (1.6/yr) # 5 2 1 4 - 1 13
vol $130M $97M $227M
  40

Most Recent M&A

Company Date Value Type
AML RightSource 2020-09-22 - Secondary Buyout
Cleveland, Ohio · www.amlrightsource.com
Dent Wizard International Corp. 2020-01-06 - Add-on Acquisition
Bridgeton, Missouri · www.dentwizard.com
American School of Real Estate Express LLC 2019-05-02 - Secondary Buyout
St. Louis, Missouri · www.colibrigroup.com
The Colibri Group, Inc. 2019-05-02 - Secondary Buyout
Providence, Rhode Island · www.colibri.com
Jacent, Inc. 2019-04-25 - Secondary Buyout
Huntingdon Valley, Pennsylvania · www.jacentretail.com
Remington Products Corp. 2019-04-22 - Divestiture
Wadsworth, Ohio · www.remington-products.com
Quality Solutions, Inc. 2018-11-29 - Add-on Acquisition
Colwich, Kansas · www.qsifacilities.com
Royal Paper Converting, Inc. 2018-11-06 - Growth Capital
Phoenix, Arizona · www.royalpaper.us
The Service Companies, Inc. 2018-07-18 - Secondary Buyout
Miami, Florida · www.theservicecompanies.com
Giant Creative Strategy LLC 2018-07-17 97M USD Add-on Acquisition
San Francisco, California · www.giantagency.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
American School of Real Estate Express LLC 2019-05-02 HomeCEU 2020-09-08 1
St. Louis, Missouri · www.colibrigroup.com Plano, Texas · www.homeceuconnection.com
The Colibri Group, Inc. 2019-05-02 Fitzgerald Health Education Associates, Inc. 2019-11-27 1
Providence, Rhode Island · www.colibri.com North Andover, Massachusetts · www.fhea.com
Counsel On Call 2014-04-14 DSicovery LLC (DSi) 2017-09-06 1
350 Brentwood, Tennessee · www.counseloncall.com Nashville, Tennessee · www.dsicovery.com
Executive Cabinetry, LLC 2010-03-24 Tedd Wood, Inc. 2013-10-07 1
Simpsonville, South Carolina · www.executivecabinetry.com Thompsontown, Pennsylvania · www.teddwood.com
H.M. Dunn Company LP 2011-08-01 Nex-Tech Aerospace, Inc. 2011-12-19 1
Euless, Texas · www.hmdunn.com Wichita, Kansas · www.nex-techaerospace.com

M&A by Sector

Sector Current # Value All-time # Value
Business Services 3 (21%) - 6 (22%) -
Consumer Products 2 (14%) - 4 (15%) -
Aerospace 1 (7%) - 2 (7%) -
Automotive 1 (7%) - 2 (7%) -
Building Materials 2 (14%) - 2 (7%) -
Manufacturing 1 (7%) - 2 (7%) -
Apparel/Textiles 1 (7%) - 1 (4%) -
Construction - - 1 (4%) -
Distribution 1 (7%) - 1 (4%) -
Electrical Equipment - - 1 (4%) -
Internet Software and Services 1 (7%) - 1 (4%) -
Marketing - - 1 (4%) -
Restaurants 1 (7%) - 1 (4%) -
Retail - - 1 (4%) -
Staffing - - 1 (4%) -
Total 14 - 27 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 14 (100%) - 27 (100%) -
  Ohio 3 (21%) - 4 (15%) -
  Missouri 1 (7%) - 3 (11%) -
  North Carolina - - 3 (11%) -
  Tennessee 2 (14%) - 2 (7%) -
  Texas 1 (7%) - 2 (7%) -
  Kansas 1 (7%) - 2 (7%) -
  South Carolina 1 (7%) - 1 (4%) -
  Rhode Island 1 (7%) - 1 (4%) -
  Pennsylvania 1 (7%) - 1 (4%) -
  Florida 1 (7%) - 1 (4%) -
  Colorado 1 (7%) - 1 (4%) -
  Arizona 1 (7%) - 1 (4%) -
  Oklahoma - - 1 (4%) -
  Michigan - - 1 (4%) -
  Massachusetts - - 1 (4%) -
  Illinois - - 1 (4%) -
  California - - 1 (4%) -
Total 14 - 27 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 6 (43%) - 10 (37%) -
Buyout (LBO, MBO, MBI) 3 (21%) - 8 (30%) -
Recapitalization 2 (14%) - 4 (15%) -
Divestiture 1 (7%) - 3 (11%) -
Growth Capital 2 (14%) - 2 (7%) -
Total 14 - 27 -

Exits by Deal Type

Type Total # Value
Secondary Sale 6 (46%) -
Trade Sale 3 (23%) -
Trade Sale - Public Company 2 (15%) 227M (100%)
Bankruptcy 2 (15%) -
Total 13 $227M

Top M&A Advisors

Financial Deals
Robert W. Baird & Co., Inc.
1
Harris Williams & Co.
1
Legal Deals
Finn Dixon & Herling LLP
3
Benesch, Friedlander, Coplan & Aronoff LLP
1

Deal Values

sell # Total
$100M to $1B 1 $130M
< $100M 1 $97M
TOTAL $227M
Largest ESP/SurgeX
$130M (2016-02-05)

M&A Connections

Deals %
Acquired from
PE Firm(s)
85%
17 85%
Strategic(s)
15%
3 15%
Exited to
PE Firm(s)
58%
7 58%
Strategic(s)
42%
5 42%

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