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Northstar Capital Mergers and Acquisitions Summary

Mezzanine Finance Firm Profile

In the last 3 years, Northstar Capital has acquired 9 companies. It has also invested in 8 others.

Northstar Capital’s most common sectors for investment aremanufacturing (13%) and consumer products (11%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (38%) and growth capital (24%). In total, Northstar Capital has invested in 35 US states and 4 different countries. Its largest (disclosed) acquisition occurred in 2000 when it acquired Ovation Brands for $665M.

In the last 3 years, Northstar Capital has exited 16 companies. The Firm’s most common exit type is trade sale (36%). Northstar Capital’s largest (disclosed) exit occurred in 2020 when it sold Windy City Wire Cable & Technology Products for $550M.

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M&A Summary

  • M&A Total Activity201
    • M&A Buy Activity120
    • M&A Sell Activity81
  • Total Sectors Invested 31
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 82
  • M&A Advisors 2

Northstar Capital LLC

2310 Plaza VII, 45 South Seventh Street,
Minneapolis, Minnesota 55402
United States
(612) 371-5700
www.northstarcapital.com

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.


Investment Criteria

Sectors of Interest: Aerospace, Agriculture, Automotive, Building Materials, Business Services, Chemicals, Communications, Consumer Products, Consumer Services, Distribution, Education, Electrical Equipment, Electronics, Engineering, Environmental, Financial Services, Healthcare Services, Insurance, Life Science, Machinery, Manufacturing, Marine, Marketing, Medical Products, Packaging, Plastics, Restaurants, Test/Measurement Equipment, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Going Private, Growth Capital, Secondary Buyout

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

Transaction Criteria Min Max
Target Revenue 20 200
Target EBITDA 3 -
Investment Size 5 30
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (4.6/yr) # 97 6 8 7 2 - 120
vol $900M $900M
Sell (5.4/yr) # 54 11 10 3 3 - 81
vol $1.1B $310M $195M $1.7B
  201
+3901201401601802001002200

Most Recent M&A

Company Date Value Type
Parallel Technologies, Inc. 2024-10-03 - Growth Capital
Eden Prairie, Minnesota · www.ptnet.com
Columbus Hydraulics Co. 2024-08-08 - Trade Sale
Columbus, Nebraska · www.columbushydraulics.com
Questco Companies 2024-07-31 - Secondary Sale
The Woodlands, Texas · www.questco.net
Epko Industries, Inc. 2024-04-29 - Secondary Sale
Glendale Heights, Illinois · www.mdcwall.com
Dollamur Sport Surfaces 2024-04-19 - Buyout (LBO, MBO, MBI)
Fort Worth, Texas · www.dollamur.com
Online Labels LLC 2023-12-19 - Recapitalization
Sanford, Florida · www.onlinelabels.com
HydroPeptide LLC 2023-12-01 - Growth Capital
Issaquah, Washington · www.hydropeptide.com
Continental Tool Group, Inc. 2023-12-01 - Growth Capital
Pittsburgh, Pennsylvania · www.continentaltoolgroup.com
Sprinturf LLC 2023-10-01 - Trade Sale
Daniel Island, South Carolina · www.sprinturf.com
Avidity Science LLC 2023-09-22 195M USD Trade Sale
Waterford, Wisconsin · www.avidityscience.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Civix 2017-12-21 Civix’s Critical Infrastructure 2023-08-30 1
Metairie, Louisiana · www.gocivix.com Metairie, Louisiana
LumiSource LLC 2022-01-13 Grandview Gallery 2022-04-27 1
Elk Grove Village, Illinois · www.lumisource.com Memphis, Tennessee · www.grandviewgallery.com
The Barcode Group, Inc. 2021-07-15 Portu Sunberg LLC 2022-02-09 2
Bentonville, Arkansas · www.thebarcodegroup.com Minneapolis, Minnesota · www.portusunberg.com
Advanced Material Processing 2019-09-04 Kason Corp. 2019-09-04 2
Chicago, Illinois · www.amprocessing.com Millburn, New Jersey · www.kason.com
Advanced Material Processing 2019-09-04 Marion Process Solutions 2019-09-04 1
Chicago, Illinois · www.amprocessing.com Marion, Iowa · www.marionsolutions.com
The ADS Group 1999-09-01 Digital Excellence LLC 2006-11-01 2
Plymouth, Minnesota · www.theadsgroup.com Minneapolis, Minnesota · www.digx.com

M&A by Sector

Sector Current # Value All-time # Value
Manufacturing 7 (18%) 235M (100%) 15 (12%) 235M (26%)
Business Services 4 (10%) - 13 (11%) -
Consumer Products 4 (10%) - 13 (11%) -
Distribution 2 (5%) - 10 (8%) -
Machinery 5 (13%) - 10 (8%) -
Food 2 (5%) - 5 (4%) -
Information Technology 3 (8%) - 5 (4%) -
Electrical Equipment - - 4 (3%) -
Healthcare Services - - 4 (3%) -
Medical Products 1 (3%) - 4 (3%) -
Packaging 2 (5%) - 4 (3%) -
Automotive 1 (3%) - 3 (2%) -
Building Materials - - 3 (2%) -
Life Science 1 (3%) - 3 (2%) -
Marketing 1 (3%) - 3 (2%) -
Chemicals - - 2 (2%) -
Consumer Services - - 2 (2%) -
Electronics - - 2 (2%) -
Furniture 1 (3%) - 2 (2%) -
Software 2 (5%) - 2 (2%) -
Test/Measurement Equipment - - 2 (2%) -
Restaurants - - 1 (1%) 665M (74%)
Aerospace 1 (3%) - 1 (1%) -
Communications - - 1 (1%) -
Construction 1 (3%) - 1 (1%) -
Environmental - - 1 (1%) -
Marine - - 1 (1%) -
Plastics - - 1 (1%) -
Safety/Security - - 1 (1%) -
Staffing 1 (3%) - 1 (1%) -
Technology Hardware 1 (3%) - 1 (1%) -
Total 40 $235M 121 $900M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 38 (95%) - 116 (96%) 665M (74%)
  Minnesota 6 (15%) - 14 (12%) 665M (74%)
  Illinois 4 (10%) - 12 (10%) -
  Wisconsin 3 (8%) - 9 (7%) -
  Texas 4 (10%) - 8 (7%) -
  Tennessee 4 (10%) - 8 (7%) -
  California 3 (8%) - 6 (5%) -
  Pennsylvania 1 (3%) - 6 (5%) -
  Washington 1 (3%) - 4 (3%) -
  Ohio 1 (3%) - 4 (3%) -
  New Jersey 1 (3%) - 4 (3%) -
  Indiana 1 (3%) - 4 (3%) -
  Missouri - - 3 (2%) -
  Michigan - - 3 (2%) -
  Georgia - - 3 (2%) -
  Oklahoma 1 (3%) - 2 (2%) -
  North Carolina 1 (3%) - 2 (2%) -
  Nevada 1 (3%) - 2 (2%) -
  Massachusetts 1 (3%) - 2 (2%) -
  Louisiana 1 (3%) - 2 (2%) -
  New York - - 2 (2%) -
  Florida - - 2 (2%) -
  Arkansas 1 (3%) - 1 (1%) -
  Oregon 1 (3%) - 1 (1%) -
  Mississippi 1 (3%) - 1 (1%) -
  Maine 1 (3%) - 1 (1%) -
  Connecticut - - 1 (1%) -
  Colorado - - 1 (1%) -
  Arizona - - 1 (1%) -
  Alabama - - 1 (1%) -
  Virginia - - 1 (1%) -
  Utah - - 1 (1%) -
  South Carolina - - 1 (1%) -
  Nebraska - - 1 (1%) -
  Montana - - 1 (1%) -
  Kansas - - 1 (1%) -
Canada 1 (3%) - 3 (2%) -
  Quebec 1 (3%) - 1 (1%) -
  Ontario - - 1 (1%) -
  Alberta - - 1 (1%) -
Singapore 1 (3%) 235M (100%) 1 (1%) 235M (26%)
Mexico - - 1 (1%) -
Domestic 38 (95%) - 116 (96%) 665M (74%)
Cross-border 2 (5%) 235M (100%) 5 (4%) 235M (26%)
Total 40 $235M 121 $900M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 13 (33%) - 45 (37%) 665M (74%)
Growth Capital 13 (33%) - 28 (23%) -
Secondary Buyout 8 (20%) - 22 (18%) -
Recapitalization 2 (5%) - 17 (14%) -
Consolidation 2 (5%) - 4 (3%) -
Divestiture 1 (3%) - 3 (2%) -
Going Private 1 (3%) 235M (100%) 1 (1%) 235M (26%)
Stake Purchase - - 1 (1%) -
Total 40 $235M 121 $900M

Exits by Deal Type

Type Total # Value
Secondary Sale 30 (37%) 5M (< 1%)
Trade Sale 20 (25%) -
Trade Sale - Public Company 12 (15%) 1.6B (100%)
Unknown 9 (11%) -
Merger 4 (5%) -
Bankruptcy 2 (2%) -
Recapitalization 2 (2%) -
1 (1%) -
Shut Down 1 (1%) -
Total 81 $1.7B

Top M&A Advisors

Financial Deals
Stout
1
Legal Deals
Allen & Gledhill
 1

Deal Values

buy # Total
$100M to $1B 2 $900M
TOTAL $900M
Largest Ovation Brands, Inc.
$665M (2000-06-06)
sell # Total
$100M to $1B 6 $1.5B
< $100M 3 $182M
TOTAL $1.7B
Largest Windy City Wire Cable & Technology Products LLC
$550M (2020-09-22)

M&A Connections

Deals
Acquired from
Investor(s)
20%
24 (20%)
Strategic(s)
2%
3 (2%)
Exited to
Investor(s)
40%
32 (40%)
Strategic(s)
41%
33 (41%)

Investor Summary

Investor Type

Mezzanine Finance Firm

Size

Large

PE Assets

1.7B USD

Established

1993

Specialist/Generalist

Generalist

Leadership

Douglas Mark

Co-Founder & Managing Partner

Brian Schneider

Managing Partner

Christopher Kocourek

Managing Partner

Daniel Kleineman

Partner

Ethan Eid

Partner

FAQ

When was Northstar Capital LLC founded?

Northstar Capital LLC was founded in 1993.

What type of investor is Northstar Capital LLC?

Northstar Capital LLC is a mezzanine finance firm.

Where is Northstar Capital LLC headquartered?

Northstar Capital LLC is headquartered in Minneapolis, Minnesota.

How much capital does Northstar Capital LLC have under management?

Northstar Capital LLC has 1.7B USD under management.

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