Hanover Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Hanover Partners has acquired 2 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 recapitalization (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 (70%). Hanover Partners’ largest (disclosed) exit occurred in 2011 when it sold Solidscape for $38M.

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M&A Summary

  • M&A Total Activity32
    • M&A Buy Activity19
    • M&A Sell Activity13
  • Total Sectors Invested 9
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 14
  • 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 ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.4/yr) # 17 - 2 - - - 19
vol $14M $14M
Sell (0.6/yr) # 10 - 1 1 - 1 13
vol $60M $60M
  32

Most Recent M&A

Company Date Value Type
Westside Equipment Co. 2024-01-09 - Trade Sale
Madera, California · www.westsideequipment.com
Ligchine International Corp. 2022-07-13 - Secondary Sale
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 Sale
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 Trade Sale
Kilgore, Texas · www.freedomcte.com
Audio Precision, Inc. 2018-11-05 - Secondary Sale
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
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 1 (20%) - 8 (42%) -
Manufacturing - - 3 (16%) -
Test/Measurement Equipment - - 2 (11%) -
Electronics 1 (20%) 14M (100%) 1 (5%) 14M (100%)
Aerospace 1 (20%) - 1 (5%) -
Building Materials - - 1 (5%) -
Electrical Equipment 1 (20%) - 1 (5%) -
Packaging - - 1 (5%) -
Technology Hardware 1 (20%) - 1 (5%) -
Total 5 $14M 19 $14M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 5 (100%) 14M (100%) 19 (100%) 14M (100%)
  California 2 (40%) 14M (100%) 3 (16%) 14M (100%)
  Colorado 1 (20%) - 2 (11%) -
  Minnesota - - 2 (11%) -
  Iowa - - 2 (11%) -
  Nevada 1 (20%) - 1 (5%) -
  Arizona 1 (20%) - 1 (5%) -
  New Hampshire - - 1 (5%) -
  Indiana - - 1 (5%) -
  Wisconsin - - 1 (5%) -
  Utah - - 1 (5%) -
  Texas - - 1 (5%) -
  Pennsylvania - - 1 (5%) -
  Oregon - - 1 (5%) -
  North Dakota - - 1 (5%) -
Total 5 $14M 19 $14M

Acquisitions by Deal Type

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

Exits by Deal Type

Type Total # Value
Trade Sale 5 (38%) -
Trade Sale - Public Company 4 (31%) 60M (100%)
Secondary Sale 4 (31%) -
Total 13 $60M

Top M&A Advisors

Financial Deals
Prestwick Partners LLC
 3
Flieller, Kruger, Skelton & Plyler, PLLC
 1
Legal Deals
Perkins Coie LLP
 1
Queen Saenz + Schutz
 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)
31%
4 (31%)
Strategic(s)
69%
9 (69%)

Investor Summary

Investor Type

Private Equity Firm

Size

Small

Established

1994

Specialist/Generalist

Generalist

Leadership

John Palmer

Co-Founder & Principal

Andrew Ford

Founding Partner

Aaron Aiken

Managing Partner

Vineet Varma

Partner

FAQ

When was Hanover Partners, Inc. founded?

Hanover Partners, Inc. was founded in 1994.

What type of investor is Hanover Partners, Inc.?

Hanover Partners, Inc. is a private equity firm.

Where is Hanover Partners, Inc. headquartered?

Hanover Partners, Inc. is headquartered in San Francisco, California.

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