M&A Deal Summary

Saw Mill Capital and Harvest Partners Acquire Williams

On August 2, 2000, private equity firms Saw Mill Capital and Harvest Partners acquired energy services and equipment company Williams from Merit Capital Partners for 310M USD

Acquisition Highlights
  • This is Saw Mill Capital’s 1st and Harvest Partners’ 1st transaction in the Energy Services and Equipment sector.
  • This is Saw Mill Capital’s 2nd and Harvest Partners’ 3rd largest (disclosed) transaction.
  • This is Saw Mill Capital’s 2nd and Harvest Partners’ 2nd transaction in the United States.
  • This is Saw Mill Capital’s 1st and Harvest Partners’ 1st transaction in Georgia.
Investment Fate
  • Williams went public in 2001.

M&A Deal Summary

Date 2000-08-02
Target Williams
Sector Energy Services and Equipment
Buyer(s) Saw Mill Capital
Harvest Partners
Sellers(s) Merit Capital Partners
Deal Type Secondary Buyout
Deal Value 310M USD

Target

Williams

Tucker, Georgia, United States
website
Williams is a designer, engineer and manufacturer of auxiliary equipment for gas turbines used in power plants and a variety of industrial applications. Williams was founded in 1998 and is based in Tucker, Georgia.

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Buyer(S) 2

Buyer

Saw Mill Capital

Briarcliff Manor, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1997
PE ASSETS 610M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Saw Mill Capital is a private equity firm focused on middle-market company acquisitions valued up to $200 million. Saw Mill prefers businesses with defensible market positions, solid growth prospects, and historical cash-flow. Sectors of interest include manufacturing, specialty distribution, and service. Saw Mill looks to commit between $15 and $75 million per transaction in companies with at least $3 million of EBITDA. Saw Mill will not invest in retail, healthcare services, media/telecom, information technology, financial services, personnel based services, apparel or businesses driven by fad or fashion. Saw Mill Capital was formed in 1997 and is based in Briarcliff Manor, New York.


DEAL STATS #
Overall 2 of 23
Sector (Energy Services and Equipment) 1 of 1
Type (Secondary Buyout) 1 of 8
State (Georgia) 1 of 3
Country (United States) 2 of 22
Year (2000) 2 of 2
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-08-01 Jason

Milwaukee, Wisconsin, United States

Jason is a manufacturer of seating, finishing, components, and automotive acoustic products. Jason Industries was founded in 1887 and is based in Milwaukee, Wisconsin.

Buy $335M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-03-20 Clyde Bergemann

Wesel, Germany

Clyde Bergemann Limited is an energy services business based in the East End of Glasgow.The Clyde Bergemann group, domiciled in Wesel, Germany, is present in all major market regions. Its operational network extends to Europe, Asia, Australia, North and South America and Africa. The group’s core business is the development and production of components for coal-fired power plants.

Buy $120M
Buyer

Harvest Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harvest Partners is a private equity firm that targets buyout and growth capital investments in middle-market public and private companies. Harvest Partners looks to invest in profitable ($30 to $300 million of EBITDA) consumer products/retail, manufacturing, marketing, building products, industrial, specialty services, and value-added distribution companies valued between $100 and $600 million. The Firm prefers opportunities headquartered in North America. Harvest Partners was formed in 1981 and is based in New York City.


DEAL STATS #
Overall 2 of 47
Sector (Energy Services and Equipment) 1 of 4
Type (Secondary Buyout) 1 of 25
State (Georgia) 1 of 5
Country (United States) 2 of 44
Year (2000) 1 of 1
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1996-01-01 Edgen

Baton Rouge, Louisiana, United States

Edgen is a provider of prime carbon steel pipe, specialty pipe, valves, fittings, flanges and structural steel products to the energy industry. Edgen was formed in 1983 and is based in Baton Rouge, Louisiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-05-17 Williams

Tucker, Georgia, United States

Williams is a designer, engineer and manufacturer of auxiliary equipment for gas turbines used in power plants and a variety of industrial applications. Williams was founded in 1998 and is based in Tucker, Georgia.

Sell -

Seller(S) 1

SELLER

Merit Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Merit Capital Partners is a private investment firm that targets investments in middle market manufacturing, distribution, and service based businesses. Merit looks for companies generating at least $25 million in sales and at least $4 million in EBITDA. Merit can provide both equity and junior capital financing and looks to commit at least $15 million per transaction. Prospective transaction situations include management buyouts, recapitalizations, growth financings, divestitures, unsponsored transactions, and ESOPs. Merit Capital will not invest in start-ups, turnarounds, real estate, specialty retail, or oil/gas opportunities. Merit Capital was originally known as William Blair Mezzanine Capital and became independent in 2004. Merit was formed in 1993 and is based in Chicago, Illinois.


DEAL STATS #
Overall 3 of 51
Sector (Energy Services and Equipment) 1 of 1
Type (Secondary Buyout) 3 of 19
State (Georgia) 1 of 1
Country (United States) 3 of 50
Year (2000) 2 of 4
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-08-01 HammerBlow Towing Systems

Wausau, Wisconsin, United States

HammerBlow Towing Systems Corp. is a manufacturer of jacks and couplers primarily for use in agricultural equipment and utility trailers. Approximately 50% of HammerBlow’s sales are to OEMs and 50% are to the after-market throughout the United States and Canada.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-09-01 Beacon Sales Acquisition

Somerville, Massachusetts, United States

Beacon Sales Acquisition, Inc. is a distributor of roofing products to the Eastern and Southeastern United States and Eastern Canada with a broad product offering to meet the requirements of commercial and residential roofing contractors, builders, general contractors, and retailers. Beacon’s branches typically sell in excess of 3,000 SKUs. Beacon serves the residential and commercial roofing markets, with the majority of its work representing re-roofing versus new construction.

Buy -