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 7 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

745 5th Avenue,
New York, New York 10151
United States
(212) 551-4500
www.irvingplacecapital.com
info@irvingplacecapital.com

Irving Place Capital (formerly Bear Stearns Merchant Banking) is an independent private equity firm focused on making investments in middle-market companies located in North America and Western Europe. Irving primarily looks for opportunities in the retail, financial services, consumer products and packaging sectors, but will also consider investments in other traditional and service based businesses such as restaurants, transportation/logistics, healthcare, energy, and industrial products/services. The Firm's target investment size is $50 to $250 million of equity capital in companies valued up to $2 billion. Prospective transaction situations include traditional management buyouts, growth capital financings, divestitures, consolidations, and recapitalizations. Irving Place is based in New York City.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Automotive, Business Services, Consumer Products, Defense, Digital Media, Distribution, E-Commerce, Energy Services and Equipment, Financial Services, Food, Healthcare Services, Insurance, Machinery, Manufacturing, Medical Products, Oil/Gas Exploration, Packaging, Plastics, Retail, Semiconductors, Test/Measurement Equipment, Transportation

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

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Scandinavia

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

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 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

Most Recent M&A

Company Date Value Type
Ohio Transmission Corp. 2019-04-09 - Secondary Buyout
Columbus, Ohio · www.otpnet.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
Agiliti, Inc. 2018-08-13 - Secondary Buyout
Minneapolis, Minnesota · www.uhs.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 >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Alpha Packaging, Inc. 2010-12-01 Graham Packaging Co. Inc. - Etten-Leur Plant 2017-11-08 3
St. Louis, Missouri · www.alphap.com Etten-Leur, Netherlands
Mold-Rite Plastics, Inc. 2010-08-06 Weatherchem Corp. 2012-11-30 2
Plattsburgh, New York · www.moldriteplastics.com Twinsburg, Ohio · www.weatherchem.com
Mold-Rite Plastics, Inc. 2010-08-06 Stull Technologies, Inc. 2012-11-19 1
Plattsburgh, New York · www.moldriteplastics.com Somerset, New Jersey · www.stulltech.com
Alpha Packaging, Inc. 2010-12-01 Vanga Products (Plastics), Inc. 2012-03-12 2
St. Louis, Missouri · www.alphap.com Surrey, British Columbia · www.vanga.ca
Alpha Packaging, Inc. 2010-12-01 Progressive Plastics, Inc. 2010-12-16 1
St. Louis, Missouri · www.alphap.com Clover, South Carolina · www.progressiveplastics.net

M&A by Sector

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

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 8 (100%) - 38 (79%) 1.5B (42%)
  New York 2 (25%) - 7 (15%) 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%)
United Kingdom - - 2 (4%) 485M (14%)
Bermuda - - 1 (2%) 1.0B (28%)
Canada - - 1 (2%) -
  Quebec - - 1 (2%) -
Germany - - 1 (2%) -
Japan - - 1 (2%) -
Netherlands - - 1 (2%) -
Sweden - - 1 (2%) -
Domestic 8 (100%) - 38 (79%) 1.5B (42%)
Cross-border - - 10 (21%) 2.1B (58%)
Total 8 - 48 $3.6B

Acquisitions by Deal Type

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

Exits by Deal Type

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

Top M&A Advisors

Financial Deals
Barclays Investment Bank
 1
Bank of America Merrill Lynch (BofA Securities)
 1
Robert W. Baird & Co., Inc.
 1
Legal Deals
Kirkland & Ellis LLP
 4
Weil Gotshal & Manges LLP
 3
O'Melveny & Myers LLP
 1

Deal Values

buy # Total
> $1B 1 $1.0B
$100M to $1B 6 $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)

M&A Connections

Deals %
Acquired from
PE Firm(s)
90%
18 90%
Strategic(s)
10%
2 10%
Exited to
PE Firm(s)
44%
12 44%
Strategic(s)
56%
15 56%

Investor Summary

Size

Mega

PE Assets

4.4B USD

Established

1997

Specialist/Generalist

Generalist

Leadership

John Howard

Co-Managing Partner

Philip Carpenter III

Co-Managing Partner

Swen Kupferschmid-Rojas

CFO & CCO

David Knoch

Head of Strategic Services & Partner

Devraj Roy

Partner

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