M&A Deal Summary

IR Acquires MP Pumps

On December 13, 2018, IR acquired manufacturer MP Pumps from Lionheart Ventures and Spring Capital Partners for 58M USD

Acquisition Highlights
  • This is IR’s 8th transaction in the Manufacturing sector.
  • This is IR’s 15th largest (disclosed) transaction.
  • This is IR’s 17th transaction in the United States.
  • This is IR’s 1st transaction in Michigan.

M&A Deal Summary
Date 2018-12-13
Target MP Pumps
Sector Manufacturing
Buyer(s) IR
Sellers(s) Lionheart Ventures
Spring Capital Partners
Deal Type Add-on Acquisition
Deal Value 58M USD

Target

MP Pumps

Fraser, Michigan, United States
website
MP Pumps, Inc. is a manufacturer of specialty industrial pumps and associated aftermarket parts for use in a variety of industrial end markets.

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Buyer(S) 1

Buyer

IR

Davidson, North Carolina, United States

website

Category Company
Founded 1859
Sector Machinery
Employees17,000
Revenue 5.9B USD (2022)
DESCRIPTION

IR is a manufacturer of highly engineered products, including compressors, liquid ring pumps and blowers for various industrial, medical, environmental, transportation and process applications, pumps used in the petroleum and industrial market segments and other fluid transfer equipment, such as loading arms and dry break couplers, serving chemical, petroleum and food industries. IR was founded in 1859 and is based in Davidson, Wisconsin.

DEAL STATS #
Overall 25 of 45
Sector (Manufacturing) 8 of 13
Type (Add-on Acquisition) 24 of 39
State (Michigan) 1 of 1
Country (United States) 17 of 26
Year (2018) 3 of 3
Size (of disclosed) 15 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-06 DV Systems

Barrie, Ontario, Canada

DV Systems, Inc. is a designer, engineer and manufactures reliable industrial air compressors for demanding environments and provide comprehensive compressed air solutions for your application's compressed air needs. DV Systems, Inc. was founded in 1954 and is based in Barrie, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-11 Precision Flow System

United States

Precision Flow System is a provider of fluid management systems with world-class brands including Milton Roy®, LMI®, Haskel®, BuTech®, Dosatron®, YZ Systems®, Williams®, and Hartell®. It serves mission critical applications including water, agriculture, food and beverage, pharmaceuticals and process industries.

Buy $1.5B

Seller(S) 2

SELLER

Lionheart Ventures

Newtown, Pennsylvania, United States

website

Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Lionheart Ventures is a private equity group focused on acquiring and developing middle-market manufacturing companies. Lionheart looks for profitable businesses with $5 to $50 million in sales and EBITDA of $1 to $10 million. Specific areas of interest include niche industrial manufacturers, engineered product companies, sensors and controls, precision mechanical components, automotive, aerospace/defense, and pumps/valves/mixers. Lionheart prefers acquisitions with proven management in place, however the Firm also considers situations where a management changeover is needed. Lionheart Ventures was formed in 2004 and has offices near Philadelphia and Boston.

DEAL STATS #
Overall 1 of 1
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Michigan) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-30 MP Pumps

Fraser, Michigan, United States

MP Pumps, Inc. is a manufacturer of specialty industrial pumps and associated aftermarket parts for use in a variety of industrial end markets.

Buy -
SELLER

Spring Capital Partners

Lutherville, Maryland, United States

Investor Investor

website

Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Spring Capital Partners is a mezzanine finance provider for small to medium-sized businesses. Spring invests $2 to $20 million, primarily in the form of subordinated debt with equity features in each transaction. The Firm does not have an industry focus. Spring Capital looks for businesses located in the Mid-Atlantic US with revenues between $10 and $150 million. Spring Capital Partners was formed in 1999 and has offices in Baltimore, Maryland and Radnor, Pennsylvania.

DEAL STATS #
Overall 19 of 25
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 13 of 18
State (Michigan) 1 of 1
Country (United States) 19 of 25
Year (2018) 3 of 3
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-31 Global Critical Logistics

Lititz, Pennsylvania, United States

Global Critical Logistics is a provider of freight forwarding and logistics to the music touring, fine arts, sports & live events, film & TV production, corporate events, and industrial projects end markets through its family of affiliated brands including Rock-it Global, Dietl, Cosdel, CargoLive, and Dynamic International. Through its offices in the US, UK, Australia, Belgium, Brazil, Chile, China, Colombia, Germany, Japan, Mexico, Netherlands, and Peru, augmented by a network of foreign agents specializing in live events, GCL serves thousands of customers per year with specialized freight solutions on all seven continents. Global Critical Logistics was founded in 1978 and is based in Lititz, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-01 Leahy Landscaping

Lynn, Massachusetts, United States

Leahy Landscaping is a provider of landscaping services to commercial, municipal and high-end residential customers throughout Massachusetts and southern New Hampshire. Leahy Landscaping was founded in 1984 and is based in Lynn, Massachusetts.

Buy -
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