Irving Place Capital Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Irving Place Capital has acquired 2 companies.

Irving Place Capital’s most common sectors for investment are financial services (15%) and retail (13%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (32%) and secondary buyout (23%). In total, Irving Place Capital has invested in 19 US states and 9 different countries. Its largest (disclosed) acquisition occurred in 2007 when it acquired Ironshore for $1.0B.

In the last 3 years, Irving Place Capital has exited 4 companies. The Firm’s most common exit type is trade sale (43%). Irving Place Capital’s largest (disclosed) exit occurred in 2014 when it sold Victor Technologies International for $947M.

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M&A Summary

M&A Total Activity83
- M&A Buy Activity48
- M&A Sell Activity35
Total Sectors Invested 22
Total Countries Invested 9
M&A Buy/Sell Connections 30
M&A Advisors 7

Irving Place Capital

Transaction Criteria	Min	Max
Target Revenue	-	-
Target EBITDA	10	-
Investment Size	50	250
Enterprise Value	-	-
values in millions of USD

Transaction Criteria

Min

Max

Target Revenue

Target EBITDA

Investment Size

250

Enterprise Value

values in millions of USD

Year	≤ '16	'17	'18	'19	'20	'21	T
Buy (0.4/yr)	#	46	-	2	-	-	-	48
vol	$3.6B						$3.6B
Sell (1.4/yr)	#	28	3	3	1	-	-	35
vol	$3.0B	$1.2B					$4.2B
	83

Year

≤ '16

'17

'18

'19

'20

'21

Buy (0.4/yr)

vol

$3.6B

Sell (1.4/yr)

vol

$3.0B

$1.2B

$4.2B

Company	Date	Value	Type
Ohio Transmission Corp.	2019-04-09	-	Secondary Buyout
Columbus, Ohio · www.otpnet.com
Agiliti Health, Inc.	2018-12-20	-	Secondary Buyout
Minneapolis, Minnesota · www.uhs.com
Pet Supplies Plus LLC	2018-12-13	-	Secondary Buyout
Livonia, Michigan · www.petsuppliesplus.com
Coker Group LLC	2018-12-04	-	Buyout (LBO, MBO, MBI)
Alpharetta, Georgia · www.cokergroup.com
Caribbean Financial Group	2018-12-03	-	Secondary Buyout
Guaynabo, Puerto Rico · www.cfgcompany.com
Coker Tire Co. Inc.	2018-11-15	-	Buyout (LBO, MBO, MBI)
Chattanooga, Tennessee · www.cokertire.com
Chromalox, Inc.	2017-05-26	415M USD	Add-on Acquisition
Pittsburgh, Pennsylvania · www.chromalox.com
National Surgical Healthcare, Inc.	2017-05-10	760M USD	Add-on Acquisition
Chicago, Illinois · www.nshinc.com
cabi Holdings Co. LLC	2017-03-02	-	Secondary Buyout
Compton, California · www.cabionline.com
Dynojet Research, Inc.	2015-11-24	-	Secondary Buyout
North Las Vegas, Nevada · www.dynojet.com
View All >>

Company

Date

Value

Type

Ohio Transmission Corp.

2019-04-09

Secondary Buyout

Columbus, Ohio · www.otpnet.com

Agiliti Health, Inc.

2018-12-20

Secondary Buyout

Minneapolis, Minnesota · www.uhs.com

Pet Supplies Plus LLC

2018-12-13

Secondary Buyout

Livonia, Michigan · www.petsuppliesplus.com

Coker Group LLC

2018-12-04

Buyout (LBO, MBO, MBI)

Alpharetta, Georgia · www.cokergroup.com

Caribbean Financial Group

2018-12-03

Secondary Buyout

Guaynabo, Puerto Rico · www.cfgcompany.com

Coker Tire Co. Inc.

2018-11-15

Buyout (LBO, MBO, MBI)

Chattanooga, Tennessee · www.cokertire.com

Chromalox, Inc.

2017-05-26

415M USD

Add-on Acquisition

Pittsburgh, Pennsylvania · www.chromalox.com

National Surgical Healthcare, Inc.

2017-05-10

760M USD

Add-on Acquisition

Chicago, Illinois · www.nshinc.com

cabi Holdings Co. LLC

2017-03-02

Secondary Buyout

Compton, California · www.cabionline.com

Dynojet Research, Inc.

2015-11-24

Secondary Buyout

North Las Vegas, Nevada · www.dynojet.com

View All >>

Sector	Current #	Value	All-time #	Value
Financial Services	-	-	7 (15%)	610M (17%)
Consumer Products	-	-	6 (13%)	210M (6%)
Retail	-	-	6 (13%)	154M (4%)
Apparel/Textiles	1 (13%)	-	4 (8%)	-
Automotive	3 (38%)	-	4 (8%)	-
Packaging	1 (13%)	-	3 (6%)	485M (14%)
Medical Products	-	-	2 (4%)	712M (20%)
Energy Services and Equipment	-	-	2 (4%)	-
Insurance	-	-	1 (2%)	1.0B (28%)
Machinery	-	-	1 (2%)	422M (12%)
Business Services	-	-	1 (2%)	-
Distribution	-	-	1 (2%)	-
Electrical Equipment	-	-	1 (2%)	-
Healthcare Services	-	-	1 (2%)	-
Information Technology	-	-	1 (2%)	-
Internet Software and Services	-	-	1 (2%)	-
Oil/Gas Exploration	1 (13%)	-	1 (2%)	-
Plastics	1 (13%)	-	1 (2%)	-
Publishing	1 (13%)	-	1 (2%)	-
Safety/Security	-	-	1 (2%)	-
Semiconductors	-	-	1 (2%)	-
Software	-	-	1 (2%)	-
Total	8	-	48	$3.6B

Sector

Current #

Value

All-time #

Value

Financial Services

7 (15%)

610M (17%)

Consumer Products

6 (13%)

210M (6%)

Retail

6 (13%)

154M (4%)

Apparel/Textiles

1 (13%)

4 (8%)

Automotive

3 (38%)

4 (8%)

Packaging

1 (13%)

3 (6%)

485M (14%)

Medical Products

2 (4%)

712M (20%)

Energy Services and Equipment

2 (4%)

Insurance

1 (2%)

1.0B (28%)

Machinery

1 (2%)

422M (12%)

Business Services

1 (2%)

Distribution

1 (2%)

Electrical Equipment

1 (2%)

Healthcare Services

1 (2%)

Information Technology

1 (2%)

Internet Software and Services

1 (2%)

Oil/Gas Exploration

1 (13%)

1 (2%)

Plastics

1 (13%)

1 (2%)

Publishing

1 (13%)

1 (2%)

Safety/Security

1 (2%)

Semiconductors

1 (2%)

Software

1 (2%)

Total

$3.6B

State/Country	Current #	Value	All-time #	Value
United States	8 (100%)	-	39 (81%)	1.5B (42%)
	New York	2 (25%)	-	8 (17%)	154M (4%)
	California	-	-	5 (10%)	210M (6%)
	Ohio	1 (13%)	-	3 (6%)	-
	Pennsylvania	-	-	3 (6%)	-
	Missouri	1 (13%)	-	2 (4%)	422M (12%)
	Texas	1 (13%)	-	2 (4%)	-
	Tennessee	1 (13%)	-	2 (4%)	-
	New Jersey	-	-	2 (4%)	-
	Florida	-	-	2 (4%)	-
	Nevada	1 (13%)	-	1 (2%)	-
	Georgia	1 (13%)	-	1 (2%)	-
	Minnesota	-	-	1 (2%)	712M (20%)
	Michigan	-	-	1 (2%)	-
	Massachusetts	-	-	1 (2%)	-
	Maryland	-	-	1 (2%)	-
	Indiana	-	-	1 (2%)	-
	Illinois	-	-	1 (2%)	-
	Connecticut	-	-	1 (2%)	-
	Colorado	-	-	1 (2%)	-
Puerto Rico	-	-	2 (4%)	610M (17%)
Bermuda	-	-	1 (2%)	1.0B (28%)
United Kingdom	-	-	1 (2%)	485M (14%)
Canada	-	-	1 (2%)	-
	Quebec	-	-	1 (2%)	-
Germany	-	-	1 (2%)	-
Japan	-	-	1 (2%)	-
Netherlands	-	-	1 (2%)	-
Sweden	-	-	1 (2%)	-
Domestic	8 (100%)	-	39 (81%)	1.5B (42%)
Cross-border	-	-	9 (19%)	2.1B (58%)
Total	8	-	48	$3.6B

State/Country

Current #

Value

All-time #

Value

United States

8 (100%)

39 (81%)

1.5B (42%)

New York

2 (25%)

8 (17%)

154M (4%)

California

5 (10%)

210M (6%)

Ohio

1 (13%)

3 (6%)

Pennsylvania

3 (6%)

Missouri

1 (13%)

2 (4%)

422M (12%)

Texas

1 (13%)

2 (4%)

Tennessee

1 (13%)

2 (4%)

New Jersey

2 (4%)

Florida

2 (4%)

Nevada

1 (13%)

1 (2%)

Georgia

1 (13%)

1 (2%)

Minnesota

1 (2%)

712M (20%)

Michigan

1 (2%)

Massachusetts

1 (2%)

Maryland

1 (2%)

Indiana

1 (2%)

Illinois

1 (2%)

Connecticut

1 (2%)

Colorado

1 (2%)

Puerto Rico

2 (4%)

610M (17%)

Bermuda

1 (2%)

1.0B (28%)

United Kingdom

1 (2%)

485M (14%)

Canada

1 (2%)

Quebec

1 (2%)

Germany

1 (2%)

Japan

1 (2%)

Netherlands

1 (2%)

Sweden

1 (2%)

Domestic

8 (100%)

39 (81%)

1.5B (42%)

Cross-border

9 (19%)

2.1B (58%)

Total

$3.6B

Type	Current #	Value	All-time #	Value
Buyout (LBO, MBO, MBI)	4 (50%)	-	15 (31%)	1.2B (34%)
Secondary Buyout	3 (38%)	-	11 (23%)	712M (20%)
Growth Capital	1 (13%)	-	9 (19%)	-
Divestiture	-	-	4 (8%)	154M (4%)
Recapitalization	-	-	3 (6%)	485M (14%)
Going Private	-	-	2 (4%)	422M (12%)
Stake Purchase	-	-	2 (4%)	-
Special Situations/Distressed	-	-	1 (2%)	610M (17%)
Venture	-	-	1 (2%)	-
Total	8	-	48	$3.6B

Type

Current #

Value

All-time #

Value

Buyout (LBO, MBO, MBI)

4 (50%)

15 (31%)

1.2B (34%)

Secondary Buyout

3 (38%)

11 (23%)

712M (20%)

Growth Capital

1 (13%)

9 (19%)

Divestiture

4 (8%)

154M (4%)

Recapitalization

3 (6%)

485M (14%)

Going Private

2 (4%)

422M (12%)

Stake Purchase

2 (4%)

Special Situations/Distressed

1 (2%)

610M (17%)

Venture

1 (2%)

Total

$3.6B

Type	Total #	Value
Secondary Sale	11 (31%)	1.0B (25%)
Trade Sale - Public Company	9 (26%)	3.0B (72%)
IPO	7 (20%)	-
Trade Sale	5 (14%)	140M (3%)
Bankruptcy	1 (3%)	-
Sold to Management	1 (3%)	-
Stake Sale	1 (3%)	-
Total	35	$4.2B

Type

Total #

Value

Secondary Sale

11 (31%)

1.0B (25%)

Trade Sale - Public Company

9 (26%)

3.0B (72%)

IPO

7 (20%)

Trade Sale

5 (14%)

140M (3%)

Bankruptcy

1 (3%)

Sold to Management

1 (3%)

Stake Sale

1 (3%)

Total

$4.2B

Financial	Deals
Robert W. Baird & Co., Inc.	1
HSBC Global Banking and Markets	1
Barclays Investment Bank	1

Financial

Deals

Robert W. Baird & Co., Inc.

HSBC Global Banking and Markets

Barclays Investment Bank

Legal	Deals
Kirkland & Ellis LLP	4
Weil Gotshal & Manges LLP	3
O'Melveny & Myers LLP	1

Legal

Deals

Kirkland & Ellis LLP

Weil Gotshal & Manges LLP

O'Melveny & Myers LLP

buy	#	Total
> $1B	1	$1.0B
$100M to $1B	6	$2.6B
TOTAL	$3.6B
Largest	Ironshore, Inc. $1.0B (2007-01-03)

buy

Total

> $1B

$1.0B

$100M to $1B

$2.6B

TOTAL

$3.6B

Largest

Ironshore, Inc.
$1.0B (2007-01-03)

sell	#	Total
$100M to $1B	8	$4.2B
TOTAL	$4.2B
Largest	Victor Technologies International, Inc. $947M (2014-02-12)

sell

Total

$100M to $1B

$4.2B

TOTAL

$4.2B

Largest

Victor Technologies International, Inc.
$947M (2014-02-12)

		Deals
Acquired from
Investor(s)	27%	13 (27%)
Strategic(s)	4%	2 (4%)
Exited to
Investor(s)	31%	11 (31%)
Strategic(s)	43%	15 (43%)

Deals

Acquired from

Investor(s)

13 (27%)

Strategic(s)

2 (4%)

Exited to

Investor(s)

11 (31%)

Strategic(s)

15 (43%)

Irving Place Capital Mergers and Acquisitions Summary

Private Equity Profile

M&A Summary