Industrial Opportunity Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Industrial Opportunity Partners has acquired 5 companies.

Industrial Opportunity Partners’ most common sectors for investment areautomotive (30%) and manufacturing (27%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (47%) and divestiture (17%). In total, Industrial Opportunity Partners has invested in 14 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 2022 when it acquired Raven Engineered Films for $350M.

In the last 3 years, Industrial Opportunity Partners has exited 7 companies. The Firm’s most common exit type is trade sale (70%). Industrial Opportunity Partners’ largest (disclosed) exit occurred in 2018 when it sold Toledo Molding & Die for $271M.

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M&A Summary

  • M&A Total Activity50
    • M&A Buy Activity30
    • M&A Sell Activity20
  • Total Sectors Invested 10
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 27
  • M&A Advisors 6

Industrial Opportunity Partners LLC

1603 Orrington Avenue, Suite 700,
Evanston, Illinois 60201
United States
(847) 556-3460
www.iopfund.com

Industrial Opportunity Partners is a private equity firm focused on acquiring and managing middle-market manufacturing and value-added distribution businesses. IOP looks to invest $10 to $75 million in companies with revenues between $30 and $400 million with an EBITDA of $5 to $50 million. Sectors of interest include building products, electronics, foundry, and casting products, precision machining, stamped and fabricated products, automotive components and steel/metal processing. IOP has a particular investment focus on enhancing the operations and optimizing the cost structures of businesses. Industrial Opportunity Partners was formed in 2005 and is based in Evanston, Illinois.


Investment Criteria

Sectors of Interest: Agriculture, Apparel/Textiles, Automotive, Building Materials, Consumer Products, Consumer Services, Defense, Distribution, Electrical Equipment, Electronics, Forest Products, Furniture, Gaming, Leisure, Machinery, Manufacturing, Metals/Mining, Packaging, Plastics

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Recapitalization, Secondary Buyout

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

Transaction Criteria Min Max
Target Revenue 30 400
Target EBITDA 5 50
Investment Size 10 75
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (1.4/yr) # 23 2 1 3 - 1 30
vol $24M $350M $374M
Sell (2.0/yr) # 10 3 1 - 4 2 20
vol $271M $271M
  50

Most Recent M&A

Company Date Value Type
United Poly Systems LLC 2022-06-22 - Add-on Acquisition
Springfield, Missouri · www.unitedpolysystems.com
Raven Engineered Films 2022-04-29 350M USD Divestiture
Sioux Falls, South Dakota · www.ravenefd.com
Midwest Paper Group 2022-02-08 - Add-on Acquisition
Combined Locks, Wisconsin · www.mwpaper.com
Aarrowcast, Inc. 2021-11-30 - Add-on Acquisition
Shawano, Wisconsin · www.aarrowcast.com
Monroe Truck Equipment, Inc. 2021-11-17 - Add-on Acquisition
Monroe, Wisconsin · www.monroetruck.com
Union Corrugating Co. 2021-11-09 - Add-on Acquisition
Fayetteville, North Carolina · www.unioncorrugating.com
El Dorado Packaging, Inc. 2021-04-19 - Add-on Acquisition
El Dorado, Arizona · www.eldoradopackaging.com
PolyVision Corp. 2020-02-24 - Divestiture
Duluth, Georgia · www.polyvision.com
Competition Cams, Inc. 2020-02-05 - Buyout (LBO, MBO, MBI)
Memphis, Tennessee · www.compcams.com
Midwest Paper Group 2020-01-08 - Buyout (LBO, MBO, MBI)
Combined Locks, Wisconsin · www.mwpaper.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
AAA Sales & Engineering, Inc. 2014-06-02 General Products Corp. 2016-09-08 1
Oak Creek, Wisconsin · www.aaase.com Livona, Michigan · www.general-products.com

M&A by Sector

Sector Current # Value All-time # Value
Automotive 4 (40%) - 9 (30%) -
Manufacturing 5 (50%) 350M (100%) 8 (27%) 374M (100%)
Packaging - - 3 (10%) -
Electrical Equipment - - 2 (7%) -
Forest Products - - 2 (7%) -
Machinery 1 (10%) - 2 (7%) -
Apparel/Textiles - - 1 (3%) -
Building Materials - - 1 (3%) -
Distribution - - 1 (3%) -
Metals/Mining - - 1 (3%) -
Total 10 $350M 30 $374M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 10 (100%) 350M (100%) 28 (93%) 374M (100%)
  Wisconsin 1 (10%) - 5 (17%) -
  Michigan 2 (20%) - 4 (13%) -
  California 2 (20%) - 3 (10%) -
  North Carolina - - 3 (10%) -
  Tennessee 2 (20%) - 2 (7%) -
  Georgia 2 (20%) - 2 (7%) -
  Washington - - 2 (7%) -
  South Dakota 1 (10%) 350M (100%) 1 (3%) 350M (94%)
  Texas - - 1 (3%) 24M (6%)
  South Carolina - - 1 (3%) -
  Ohio - - 1 (3%) -
  Nebraska - - 1 (3%) -
  Missouri - - 1 (3%) -
  Arizona - - 1 (3%) -
Canada - - 2 (7%) -
  Ontario - - 2 (7%) -
Domestic 10 (100%) 350M (100%) 28 (93%) 374M (100%)
Cross-border - - 2 (7%) -
Total 10 $350M 30 $374M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 4 (40%) - 14 (47%) 24M (6%)
Divestiture 2 (20%) 350M (100%) 5 (17%) 350M (94%)
Secondary Buyout 2 (20%) - 5 (17%) -
Growth Capital 2 (20%) - 4 (13%) -
Recapitalization - - 2 (7%) -
Total 10 $350M 30 $374M

Exits by Deal Type

Type Total # Value
Trade Sale 9 (45%) -
Trade Sale - Public Company 5 (25%) 271M (100%)
Secondary Sale 4 (20%) -
Divestiture 1 (5%) -
Unknown 1 (5%) -
Total 20 $271M

Top M&A Advisors

Financial Deals
Lincoln International
2
Deloitte
1
Bank of America Merrill Lynch (BofA Securities)
1
Legal Deals
McDermott Will & Emery LLP
11
Winston & Strawn LLP
10

Deal Values

buy # Total
$100M to $1B 1 $350M
< $100M 1 $24M
TOTAL $374M
Largest Raven Engineered Films
$350M (2022-04-29)
sell # Total
$100M to $1B 1 $271M
TOTAL $271M
Largest Toledo Molding & Die, Inc.
$271M (2018-05-22)

M&A Connections

Deals
Acquired from
Investor(s)
17%
5 (17%)
Strategic(s)
17%
5 (17%)
Exited to
Investor(s)
20%
4 (20%)
Strategic(s)
75%
15 (75%)

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