M&A Deal Summary

Ronin Equity Partners, Harvey & Company, Stephens Capital Partners and Northwood Ventures Acquire DK2

On October 7, 2022, private equity firm Ronin Equity Partners, merchant bank Harvey & Company, private equity firm Stephens Capital Partners and private equity firm Northwood Ventures acquired automotive company DK2

Acquisition Highlights
  • This is Ronin Equity Partners’ 1st, Harvey & Company’s 3rd, Stephens Capital Partners’ 2nd and Northwood Ventures’ 1st transaction in the Automotive sector.
  • This is Ronin Equity Partners’ 2nd, Harvey & Company’s 3rd, Stephens Capital Partners’ 2nd and Northwood Ventures’ 3rd transaction in Canada.
  • This is Ronin Equity Partners’ 2nd, Harvey & Company’s 3rd, Stephens Capital Partners’ 2nd and Northwood Ventures’ 2nd transaction in Ontario.

M&A Deal Summary
Date 2022-10-07
Target DK2
Sector Automotive
Buyer(s) Ronin Equity Partners
Harvey & Company
Stephens Capital Partners
Northwood Ventures
Deal Type Buyout (LBO, MBO, MBI)

Target

DK2

Burlington, Ontario, Canada
DK2 is specialized in outdoor power equipment, trailers, winches, snowplows, and auto accessories. DK2 was founded in 1997 and is based in Burlington, Ontario.

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Buyer(S) 4

Buyer

Ronin Equity Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2017
PE ASSETS 300M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Ronin Equity Partners is a private equity firm focused on control investments in mid to large-sized North American headquartered in businesses valued up to $1 billion. The Firm's sector interest includes the industrial, industrial services, and consumer sectors. Ronin has a special interest in situations that can benefit from its operational expertise, including pursuing opportunities for organic and non-organic growth, back office improvements, and better cost structure systems and policies. Ronin Equity Partners was formed in 2017 and is based in New York City.

DEAL STATS #
Overall 4 of 5
Sector (Automotive) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 1
State (Ontario) 2 of 2
Country (Canada) 2 of 2
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-07 Due North

Georgetown, Ontario, Canada

Due North operates in the refrigerated display market, with product offerings across the pet food, beverage, micro markets, and food sectors. The company leverages Internet of Things technology and its green cooling deck design to deliver a better total cost of ownership and superior product presentation for its customers. Due North is based in Georgetown, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-20 Lotus Beverage Alliance

Lincoln, Nebraska, United States

Lotus Beverage Alliance was formed when six of the most prominent craft beverage suppliers joined forces. By bringing together top brewery craft beverage equipment and technology suppliers across the industry, Lotus offers customers better resources, support, and value with each purchase. Lotus represents the merger of Alpha Brewing Operations, Twin Monkeys Beverage Systems, Stout Tanks and Kettles, Brewmation, Automated Extractions, and GW Kent. Lotus Beverage Alliance was founded in 2023 and is based in Lincoln, Nebraska.

Buy -
Buyer

Harvey & Company

Investor Investor Investor Investor Investor

Category Merchant Bank
Founded 1998
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Harvey & Company is a principal investment and advisory group. The Firm works with companies and private equity firms on acquisition searches as well as makes investments of its own. Harvey & Company was established in 1998 and is headquartered in Newport Beach, California.

DEAL STATS #
Overall 63 of 72
Sector (Automotive) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 25 of 27
State (Ontario) 3 of 4
Country (Canada) 3 of 4
Year (2022) 5 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-06 RED

London, United Kingdom

RED is a SAP-focused global specialist IT staffing firm focused on temporary contract placements, permanent recruitment and executive recruitment. RED also provides services within resource budgeting; onsite, offshore, and nearshore recruitment change management and training solutions. RED was founded in 2000 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-20 Zipline Logistics

Columbus, Ohio, United States

Zipline Logistics is a tech-enabled, asset-light, third-party logistics (3PL) provider specializing in the food and beverage, consumer packaged goods and healthcare end markets. Zipline Logistics was founded in 2007 and is based in Columbus, Ohio.

Buy -
Buyer

Stephens Capital Partners

Little Rock, Arkansas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Stephens Capital Partners is the direct, private equity investment arm of financial services firm Stephens, Inc. Stephens Capital looks to acquire minority or majority stakes in mid-sized, profitable companies in partnership with management. The Firm will consider opportunities throughout the US valued between $50 and $200 million. Stephens Capital will not consider venture investments or turnaround situations. Stephens Capital Partners is based in Little Rock, Arkansas.

DEAL STATS #
Overall 77 of 77
Sector (Automotive) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 52 of 52
State (Ontario) 2 of 2
Country (Canada) 2 of 2
Year (2022) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-16 Lenders Title Group

Greenbrier, Arkansas, United States

Lenders Title Group is a title insurance agency in the American Southeast, operating in Arkansas, Louisiana and Tennessee, and has diligently served the real estate community for over 100 years. Lenders Title Group was founded in 1987 and is based in Greenbrier, Arkansas.

Buy -
Buyer

Northwood Ventures

Syosset, New York, United States

Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 100M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Northwood Ventures is a private investment firm that invests at all stages of company development, including venture, buyout, consolidation, growth, recapitalization, and turnaround situations. Northwood prefers opportunities located within the US and will consider both minority and control situations. Northwood's typical investment ranges from $5 to $15 million. Target sectors include telecommunications, manufacturing, retailing/consumer, financial services, and service-oriented business industries. Northwood Ventures was formed in 1983 and is based in Syosset, New York.

DEAL STATS #
Overall 67 of 71
Sector (Automotive) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 21 of 22
State (Ontario) 2 of 2
Country (Canada) 3 of 3
Year (2022) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-04 MojoTech

Providence, Rhode Island, United States

MojoTech is a provider of software engineering, design, and product management services that enable clients to achieve strategic goals traditionally hindered by scale, complexity, regulatory and digital transformation barriers. MojoTech is based in Providence, Rhode Island.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-19 Makeup by Mario

New York, New York, United States

Makeup by Mario is a premium beauty brand sells a broad assortment of prestige color cosmetics exclusively through Sephora and its own website. Makeup by Mario was founded in 2020 and is based in New York, New York.

Buy -
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