Hanover Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Hanover Partners has acquired 3 companies.

Hanover Partners’ most common sectors for investment aremachinery (43%) and manufacturing (16%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (79%) and growth capital (6%). In total, Hanover Partners has invested in 14 US states. Its largest (disclosed) acquisition occurred in 2006 when it acquired Wohler Technologies for $14M.

In the last 3 years, Hanover Partners has exited 3 companies. The Firm’s most common exit type is trade sale (67%). Hanover Partners’ largest (disclosed) exit occurred in 2011 when it sold Solidscape for $38M.

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M&A Summary

  • M&A Total Activity31
    • M&A Buy Activity19
    • M&A Sell Activity12
  • Total Sectors Invested 9
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 15
  • M&A Advisors 4

Hanover Partners, Inc.

333 Bush Street, Suite 2100,
San Francisco, California 94104
United States
(415) 788-8680
www.hanoverpartners.com
aaron@hanoverpartners.com

Hanover Partners is a private investment firm that targets middle-market companies with enterprise value between $10 and $60 million and EBIT of at least $2 million. Hanover prefers manufacturing or service based businesses located in the United States that serve business customers. Avoided industries include retail, construction, consulting, job-shops, and distributors not adding specific value. Hanover Partners was formed in 1994 and is based in San Francisco, California with an additional office in Oswego, Oregon.


Investment Criteria

Sectors of Interest: Automotive, Building Materials, Business Services, Communications, Consumer Products, Electronics, Machinery, Manufacturing, Packaging, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, Stake Purchase

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

Transaction Criteria Min Max
Target Revenue 8 -
Target EBITDA 2 8
Investment Size - -
Enterprise Value 8 60
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (1.0/yr) # 14 2 1 - 2 - 19
vol $14M $14M
Sell (0.8/yr) # 8 1 1 - 1 1 12
vol $38M $22M $60M
  31

Most Recent M&A

Company Date Value Type
Ligchine International Corp. 2022-07-13 - Secondary Buyout
Darien, Wisconsin · www.ligchine.com
Powertronix, Inc. 2021-12-01 - Buyout (LBO, MBO, MBI)
Foster City, California · www.powertronix.com
Consolidated Equipment Group, LLC 2021-08-16 - Secondary Buyout
Alexandria, Minnesota · www.quickattach.com
Ska Fab Holdings LLC 2021-01-05 - Buyout (LBO, MBO, MBI)
Durango, Colorado · www.skafabricating.com
Westside Equipment Co. 2019-10-31 - Buyout (LBO, MBO, MBI)
Madera, California · www.westsideequipment.com
Freedom Communication Technologies, Inc. 2019-07-01 22M USD Add-on Acquisition
Kilgore, Texas · www.freedomcte.com
Audio Precision, Inc. 2018-11-05 - Secondary Buyout
Beaverton, Oregon · www.ap.com
Ligchine International Corp. 2018-08-01 - Growth Capital
Darien, Wisconsin · www.ligchine.com
Blast Deflectors, Inc. 2018-03-21 - Buyout (LBO, MBO, MBI)
Reno, Nevada · www.blastdeflectors.com
Freedom Communication Technologies, Inc. 2015-08-05 - Buyout (LBO, MBO, MBI)
Kilgore, Texas · www.freedomcte.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Wohler Technologies, Inc. 2006-01-01 RadiantGrid Technologies, Inc. 2017-04-24 1
Hayward, California · www.wohler.com Hayward, California · www.radiantgrid.com

M&A by Sector

Sector Current # Value All-time # Value
Machinery 2 (33%) - 8 (42%) -
Manufacturing - - 3 (16%) -
Test/Measurement Equipment - - 2 (11%) -
Electronics 1 (17%) 14M (100%) 1 (5%) 14M (100%)
Aerospace 1 (17%) - 1 (5%) -
Building Materials - - 1 (5%) -
Electrical Equipment 1 (17%) - 1 (5%) -
Packaging - - 1 (5%) -
Technology Hardware 1 (17%) - 1 (5%) -
Total 6 $14M 19 $14M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 6 (100%) 14M (100%) 19 (100%) 14M (100%)
  California 3 (50%) 14M (100%) 3 (16%) 14M (100%)
  Colorado 1 (17%) - 2 (11%) -
  Minnesota - - 2 (11%) -
  Iowa - - 2 (11%) -
  Nevada 1 (17%) - 1 (5%) -
  Arizona 1 (17%) - 1 (5%) -
  Texas - - 1 (5%) -
  Pennsylvania - - 1 (5%) -
  Oregon - - 1 (5%) -
  North Dakota - - 1 (5%) -
  New Hampshire - - 1 (5%) -
  Indiana - - 1 (5%) -
  Wisconsin - - 1 (5%) -
  Utah - - 1 (5%) -
Total 6 $14M 19 $14M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 6 (100%) 14M (100%) 15 (79%) 14M (100%)
Growth Capital - - 1 (5%) -
Recapitalization - - 1 (5%) -
Secondary Buyout - - 1 (5%) -
Stake Purchase - - 1 (5%) -
Total 6 $14M 19 $14M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 4 (33%) 60M (100%)
Secondary Sale 4 (33%) -
Trade Sale 4 (33%) -
Total 12 $60M

Top M&A Advisors

Financial Deals
Prestwick Partners LLC
2
Flieller, Kruger, Skelton & Plyler, PLLC
1
Legal Deals
Queen Saenz + Schutz PLLC
1
Perkins Coie LLP
1

Deal Values

buy # Total
< $100M 1 $14M
TOTAL $14M
Largest Wohler Technologies, Inc.
$14M (2006-01-01)
sell # Total
< $100M 2 $60M
TOTAL $60M
Largest Solidscape, Inc.
$38M (2011-05-03)

M&A Connections

Deals
Acquired from
Investor(s)
5%
1 (5%)
Exited to
Investor(s)
33%
4 (33%)
Strategic(s)
67%
8 (67%)

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