Pfingsten Partners Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Pfingsten Partners has acquired 2 companies. It has also invested in 4 others.

Pfingsten Partners’ most common sectors for investment areelectrical equipment (17%) and distribution (13%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (56%) and growth capital (18%). In total, Pfingsten Partners has invested in 22 US states.

In the last 3 years, Pfingsten Partners has exited 7 companies. The Firm’s most common exit type is secondary buyout (43%). Pfingsten Partners’ largest (disclosed) exit occurred in 2022 when it sold Dynapower Company for $580M.

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M&A Summary

  • M&A Total Activity96
    • M&A Buy Activity56
    • M&A Sell Activity40
  • Total Sectors Invested 19
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 23
  • M&A Advisors 7

Pfingsten Partners

Pfingsten Partners LLC

151 N. Franklin Street, Suite 2150,
Chicago, Illinois 60606
United States
(312) 222-8707
www.pfingstenpartners.com
pfingstenpartners@pfingsten.com

Pfingsten Partners is a private equity firm focused on investments in niche manufacturing, distribution, and business services companies. The Firm targets platform companies headquartered in the US although add-on acquisitions can be located outside the US. Prospective companies typically have revenues of $20 to $150 million and EBITDA of $3 to $12 million. Transaction types include private companies undergoing an ownership transition, corporate divestitures, strategic add-ons, and turnarounds. Pfingsten only invests in situations allowing for control. Pfingsten will not invest in real estate, natural resources, highly regulated businesses, retail, restaurants, early-stage companies, or technology. Pfingsten Partners was formed in 1989 and is based in Chicago, Illinois.


Investment Criteria

Sectors of Interest: Building Materials, Business Services, Communications, Distribution, Education, Electrical Equipment, Energy Services and Equipment, Engineering, Food, Furniture, Information Technology, Machinery, Manufacturing, Marketing, Media, Packaging, Publishing, Retail, Safety/Security, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Recapitalization, Special Situations/Distressed, Secondary Buyout, Stake Purchase

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

Transaction Criteria Min Max
Target Revenue 20 150
Target EBITDA 3 12
Investment Size - -
Enterprise Value 15 100
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.2/yr) # 50 - 2 3 1 - 56
Sell (1.4/yr) # 33 - 2 4 - 1 40
vol $578M $690M $1.3B
  96

Most Recent M&A

Company Date Value Type
Engineered Specialties LLC 2024-10-17 - Secondary Sale
Auburndale, Wisconsin · www.rapidairproducts.com
Pacific Lasertec LLC 2023-08-25 - Buyout (LBO, MBO, MBI)
San Marcos, California · www.pacificlasertec.com
Tempest Telecom Solutions 2022-12-13 - Growth Capital
Santa Barbara, California · www.tempestns.com
Quality Valve, Inc. 2022-12-08 - Secondary Sale
Mobile, Alabama · www.qualityvalves.com
Full Spectrum Group LLC 2022-11-09 110M USD Trade Sale
Laguna Hills, California · www.fsaservice.com
Fowler High Precision 2022-09-07 - Growth Capital
Canton, Massachusetts · www.fowlerprecision.com
Oliver, Inc. 2022-07-08 - Secondary Sale
Hauppauge, New York · www.oliverinc.com
Dynapower Company LLC 2022-04-26 580M USD Trade Sale
South Burlington, Vermont · www.dynapower.com
Fairbank Equipment, Inc. 2022-01-06 - Secondary Buyout
Wichita, Kansas · www.fairbankequipment.com
Burton Mill Solutions 2021-11-08 - Merger
Woodland, Washington · www.burtonmill.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Electrical Equipment 3 (25%) - 9 (16%) -
Distribution 1 (8%) - 7 (13%) -
Machinery - - 6 (11%) -
Business Services - - 5 (9%) -
Manufacturing - - 5 (9%) -
Publishing - - 3 (5%) -
Technology Hardware 2 (17%) - 3 (5%) -
Building Materials - - 2 (4%) -
Energy Services and Equipment - - 2 (4%) -
Furniture 1 (8%) - 2 (4%) -
Information Technology 2 (17%) - 2 (4%) -
Marketing 1 (8%) - 2 (4%) -
Medical Products - - 2 (4%) -
Automotive - - 1 (2%) -
Communications 1 (8%) - 1 (2%) -
Food - - 1 (2%) -
Packaging - - 1 (2%) -
Safety/Security - - 1 (2%) -
Test/Measurement Equipment 1 (8%) - 1 (2%) -
Total 12 - 56 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 12 (100%) - 56 (100%) -
  Illinois - - 10 (18%) -
  Ohio - - 7 (13%) -
  California 3 (25%) - 5 (9%) -
  Wisconsin 1 (8%) - 4 (7%) -
  Minnesota 1 (8%) - 4 (7%) -
  Florida 1 (8%) - 3 (5%) -
  Texas - - 3 (5%) -
  Missouri - - 3 (5%) -
  Massachusetts 2 (17%) - 2 (4%) -
  Alabama 1 (8%) - 2 (4%) -
  Tennessee - - 2 (4%) -
  Pennsylvania 1 (8%) - 1 (2%) -
  North Carolina 1 (8%) - 1 (2%) -
  Kansas 1 (8%) - 1 (2%) -
  Colorado - - 1 (2%) -
  Washington - - 1 (2%) -
  Vermont - - 1 (2%) -
  New York - - 1 (2%) -
  Michigan - - 1 (2%) -
  Indiana - - 1 (2%) -
  Georgia - - 1 (2%) -
Total 12 - 56 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 5 (42%) - 31 (55%) -
Growth Capital 6 (50%) - 10 (18%) -
Secondary Buyout 1 (8%) - 7 (13%) -
Stake Purchase - - 5 (9%) -
Consolidation - - 2 (4%) -
Divestiture - - 1 (2%) -
Total 12 - 56 -

Exits by Deal Type

Type Total # Value
Secondary Sale 18 (45%) 315M (25%)
Trade Sale - Public Company 9 (23%) 953M (75%)
Trade Sale 9 (23%) -
Unknown 2 (5%) -
Merger 1 (3%) -
Recapitalization 1 (3%) -
Total 40 $1.3B

Top M&A Advisors

Financial Deals
Lincoln International
 1
Harris Williams & Co.
 1
The Jordan, Edmiston Group, Inc. (JEGI)
 1
Legal Deals
Paul Hastings
 4
Katten Muchin Rosenman
 1

Deal Values

sell # Total
$100M to $1B 4 $1.1B
< $100M 2 $135M
TOTAL $1.3B
Largest Dynapower Company LLC
$580M (2022-04-26)

M&A Connections

Deals
Acquired from
Investor(s)
14%
8 (14%)
Strategic(s)
2%
1 (2%)
Exited to
Investor(s)
45%
18 (45%)
Strategic(s)
43%
17 (43%)

Investor Summary

Investor Type

Private Equity Firm

Size

Large

PE Assets

1.3B USD

Established

1989

Specialist/Generalist

Generalist

Leadership

Scott Finegan

Senior Managing Director

Denio Bolzan

Managing Director

John Starcevich

Managing Director

Ken Hessevick

Managing Director

Phil Bronsteatter

Managing Director

FAQ

When was Pfingsten Partners founded?

Pfingsten Partners was founded in 1989.

What type of investor is Pfingsten Partners?

Pfingsten Partners is a private equity firm.

Where is Pfingsten Partners headquartered?

Pfingsten Partners is headquartered in Chicago, Illinois.

How much capital does Pfingsten Partners have under management?

Pfingsten Partners has 1.3B USD under management.

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