First New England Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

First New England Capital’s most common sectors for investment areaerospace (17%) and automotive (17%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (34%) and consolidation (17%). In total, First New England Capital has invested in 6 US states. Its largest (disclosed) acquisition occurred in 2003 when it acquired Dayton Parts for $19M.

The Firm’s most common exit type is secondary buyout (58%). First New England Capital’s largest (disclosed) exit occurred in 2017 when it sold Grindmaster-Cecilware for $108M.

Join Mergr to view First New England Capital’s full profile and discover more small private equity firm investors just like it.

M&A Summary

  • M&A Total Activity13
    • M&A Buy Activity6
    • M&A Sell Activity7
  • Total Sectors Invested 6
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 10

First New England Capital

First New England Capital L.P.

998 Farmington Ave., Suite 216,
West Hartford, Connecticut 06107
United States
(860) 293-3334
www.fnec.com
info@fnec.com

First New England Capital is a private investment firm that provides equity and mezzanine capital to later-stage, small and middle-market companies operating in the Northeast US. First New England typically invests $2 to $5 million in companies generating $10 to $150 million in annual revenue. First New England can act as the lead investor or participate alongside others. The Firm will consider opportunities across many different sectors. First New England Capital was formed in 1988 and is based in Hartford, Connecticut.


Investment Criteria

Sectors of Interest: Aerospace, Automotive, Building Materials, Business Services, Chemicals, Communications, Consumer Products, Consumer Services, Distribution, Energy Services and Equipment, Financial Services, Healthcare Services, Information Technology, Life Science, Machinery, Manufacturing, Marketing, Media, Medical Products, Real Estate, Retail, Semiconductors, Software, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Venture

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

Transaction Criteria Min Max
Target Revenue 10 150
Target EBITDA 2 -
Investment Size 2 5
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.0/yr) # 6 - - - - - 6
vol $19M $19M
Sell (0.2/yr) # 6 1 - - - - 7
vol $108M $108M
  13

Most Recent M&A

Company Date Value Type
Awareness Technologies, Inc. 2020-12-07 - Secondary Sale
Westport, Connecticut · www.awarenesstech.com
Stonewall Kitchen, Inc. 2019-08-01 - Secondary Sale
York, Maine · www.stonewallkitchen.com
Koch Eye Associates, Inc. 2017-12-01 - Trade Sale
Warwick, Rhode Island · www.kocheye.com
Grindmaster-Cecilware Corp. 2017-03-02 108M USD Trade Sale
Louisville, Kentucky · www.gmcw.com
Stonewall Kitchen, Inc. 2014-10-27 - Growth Capital
York, Maine · www.stonewallkitchen.com
Ranger International Services Group, Inc. 2012-02-01 - Trade Sale
Greenville, South Carolina · www.rangerinternational.com
Koch Eye Associates, Inc. 2012-01-30 - Secondary Buyout
Warwick, Rhode Island · www.kocheye.com
Awareness Technologies, Inc. 2010-05-17 - Buyout (LBO, MBO, MBI)
Westport, Connecticut · www.awarenesstech.com
Grindmaster-Cecilware Corp. 2009-09-17 - Consolidation
Louisville, Kentucky · www.gmcw.com
Ranger International Services Group, Inc. 2009-08-12 - Buyout (LBO, MBO, MBI)
Greenville, South Carolina · www.rangerinternational.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Automotive - - 1 (17%) 19M (100%)
Aerospace - - 1 (17%) -
Food - - 1 (17%) -
Healthcare Services - - 1 (17%) -
Information Technology - - 1 (17%) -
Machinery - - 1 (17%) -
Total - - 6 $19M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States - - 6 (100%) 19M (100%)
  Pennsylvania - - 1 (17%) 19M (100%)
  Connecticut - - 1 (17%) -
  South Carolina - - 1 (17%) -
  Rhode Island - - 1 (17%) -
  Maine - - 1 (17%) -
  Kentucky - - 1 (17%) -
Total - - 6 $19M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) - - 2 (33%) -
Divestiture - - 1 (17%) 19M (100%)
Consolidation - - 1 (17%) -
Growth Capital - - 1 (17%) -
Secondary Buyout - - 1 (17%) -
Total - - 6 $19M

Exits by Deal Type

Type Total # Value
Secondary Sale 4 (57%) -
Trade Sale 2 (29%) -
Trade Sale - Public Company 1 (14%) 108M (100%)
Total 7 $108M

Deal Values

buy # Total
< $100M 1 $19M
TOTAL $19M
Largest Dayton Parts LLC
$19M (2003-04-23)
sell # Total
$100M to $1B 1 $108M
TOTAL $108M
Largest Grindmaster-Cecilware Corp.
$108M (2017-03-02)

M&A Connections

Deals
Acquired from
Investor(s)
17%
1 (17%)
Strategic(s)
17%
1 (17%)
Exited to
Investor(s)
57%
4 (57%)
Strategic(s)
43%
3 (43%)

Investor Summary

Investor Type

Private Equity Firm

Size

Small

PE Assets

50M USD

Established

1988

Specialist/Generalist

Generalist

FAQ

When was First New England Capital founded?

First New England Capital was founded in 1988.

What type of investor is First New England Capital?

First New England Capital is a private equity firm.

Where is First New England Capital headquartered?

First New England Capital is headquartered in West Hartford, Connecticut.

How much capital does First New England Capital have under management?

First New England Capital has 50M USD under management.

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