M&A Deal Summary

Griffon Acquires The Ames Companies

On July 19, 2010, Griffon Corp. acquired building materials company The Ames Companies, Inc. from Wayzata Investment Partners LLC and Castle Harlan for 542M USD

Acquisition Highlights
  • This is Griffon’s 1st transaction in the Building Materials sector.
  • This is Griffon’s 1st largest (disclosed) transaction.
  • This is Griffon’s 2nd transaction in the United States.
  • This is Griffon’s 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2010-07-19
Target The Ames Companies, Inc.
Sector Building Materials
Buyer(s) Griffon Corp.
Sellers(s) Wayzata Investment Partners LLC
Castle Harlan
Deal Type Add-on Acquisition
Deal Value 542M USD
Advisor(s) Credit Suisse Investment Banking
UBS Investment Bank (Financial)

Target

The Ames Companies, Inc.

Camp Hill, Pennsylvania, United States
website
The Ames Companies, Inc. is a manufacturer, marketer and distributor of non-motorized lawn and garden tools, wheelbarrows and hose reels. Ames products are marketed under the Ames, True Temper, Jackson and Garant brand names.

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Buyer(S) 1

Buyer

Griffon Corp.

New York, New York, United States

website


Category Company
Founded 1959
SectorBuilding Materials
Employees7,400
Revenue 2.4B USD (2020)
DESCRIPTION

Griffon is a diversified manufacturing firm. Its primary divisions include, Home and Building Products, Clopay Plastics Products, and Telephonics Corporation. Griffon founded in 1959 and is based in New York, New York.


DEAL STATS #
Overall 2 of 3
Sector (Building Materials) 1 of 2
Type (Add-on Acquisition) 2 of 2
State (Pennsylvania) 1 of 1
Country (United States) 2 of 3
Year (2010) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1961-01-01 Telephonics Corp.

Farmingdale, New York, United States

Telephonics provides fully integrated, advanced sensor and communication systems technology serving Aerospace, Defense and Commercial markets. Whether it is in the air, on the sea, or on the ground, our electronic systems are on board to ensure the safety and security of thousands of military personnel and civilians worldwide. Telephonics is based in Farmingdale, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-05 ClosetMaid Corp.

Ocala, Florida, United States

ClosetMaid Corp. is a provider of home storage and organization products. ClosetMaid was founded in 1965 and is based in Ocala, Florida.

Buy $260M

Seller(S) 2

SELLER

Wayzata Investment Partners LLC

Wayzata, Minnesota, United States

Investor

website


Category Private Equity Firm
Founded 2004
SizeSmall
Type Sector Agnostic
DESCRIPTION

Wayzata Investment Partners is a private equity group focused on acquiring controlling interests in companies through distressed debt investing. The Firm targets companies valued between $100 million and $1 billion. Wayzata was formed in 2004 and is based in Wayzata, Minnesota.


DEAL STATS #
Overall 2 of 22
Sector (Building Materials) 1 of 1
Type (Add-on Acquisition) 1 of 12
State (Pennsylvania) 1 of 1
Country (United States) 2 of 22
Year (2010) 1 of 1
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-14 RathGibson, Inc.

Lincolnshire, Illinois, United States

RathGibson, Inc. is a manufacturer of high–performance welded austenitic stainless steel and specialty alloy tubing. RathGibson tubing is chosen where strength, durability and resistance to heat and corrosion are crucial. Representative end uses occur in industries such as oil and gas production and exploration, power generation, food and dairy, pharmaceuticals, biotechnology, petrochemicals and semiconductors.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-19 Neff Rental LLC

Miami, Florida, United States

Neff Rental is a regional equipment rental company in the United States, focused on the fast-growing Sunbelt States. Neff Rental offers a broad array of equipment rental solutions for its more than 15,000 customers, focusing on key end-user markets including infrastructure, non-residential construction, energy, and municipal and residential construction.

Buy -
SELLER

Castle Harlan

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 6.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Castle Harlan is a large private equity firm that targets private company investments in the US and Australia. Castle Harlan targets businesses in a wide range of industries that include, packaging, industrial services, manufacturing, restaurants, business services, distribution, publishing, and transportation. Castle Harlan can provide both equity and mezzanine capital. The Firm is affiliated with Australian private equity firm CHAMP Private Equity, and together formed CHAMP - Castle Harlan Australian Mezzanine Partners. Castle Harlan was formed in 1987 and is based in New York City.


DEAL STATS #
Overall 25 of 38
Sector (Building Materials) 1 of 1
Type (Add-on Acquisition) 13 of 17
State (Pennsylvania) 3 of 3
Country (United States) 20 of 31
Year (2010) 2 of 3
Size (of disclosed) 2 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-30 Associated Packaging Technologies, Inc.

Chadds Ford, Pennsylvania, United States

Associated Packaging Technologies,is a manufacturer and supplier of Crystallized Polyethylene Terepthalate (CPET) containers to the frozen food industry,Company is a provider of dual-ovenable, food packaging serving the frozen food industry in North America, Europe and Australia/New Zealand.

Sell $120M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-21 Bravo Brio Restaurant Group, Inc.

Columbus, Ohio, United States

Bravo Brio is a restaurant company featuring two rapidly growing, category defining brands in the upscale casual Italian dining segment: Bravo Cucina Italiana and Brio Tuscan Grille.

Sell -