M&A Deal Summary

Ridgemont Equity Partners and J.F. Lehman & Company Acquire Special Devices

On June 23, 1998, private equity firms Ridgemont Equity Partners and J.F. Lehman & Company acquired manufacturer Special Devices for 296M USD

Acquisition Highlights
  • This is Ridgemont Equity Partners’ 1st and J.F. Lehman & Company’s 2nd transaction in the Manufacturing sector.
  • This is Ridgemont Equity Partners’ 14th and J.F. Lehman & Company’s 3rd largest (disclosed) transaction.
  • This is Ridgemont Equity Partners’ 17th and J.F. Lehman & Company’s 5th transaction in the United States.
  • This is Ridgemont Equity Partners’ 1st and J.F. Lehman & Company’s 3rd transaction in California.
Investment Fate
  • Special Devices went bankrupt in 2008.
  • Special Devices was sold to a financial buyer in 2009.
  • Special Devices was sold to a strategic buyer in 2012.

M&A Deal Summary

Date 1998-06-23
Target Special Devices
Sector Manufacturing
Buyer(s) Ridgemont Equity Partners
J.F. Lehman & Company
Deal Type Going Private
Deal Value 296M USD

Target

Special Devices

Moorpark, California, United States
website
Special Devices, Inc. is a designer and manufacturer of precision engineered pyrotechnics used in the automobile and aerospace industries. Capital Investors provided equity financing to support the leveraged recapitalization of the company.

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Buyer(S) 2

Buyer

Ridgemont Equity Partners

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1993
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ridgemont Equity Partners is an independent private equity firm specializing in middle-market buy-outs, corporate divestitures, recapitalizations and growth capital investments. The Firm targets to invest in companies located in North America, preferably in US and Canada. REP looks to invest up to $250 million in companies with EBIDTA of $5 - $50 million. The Firm seeks to hold both majority and minority equity interest in portfolio companies. Specific areas of interest include basin industries and services, energy, healthcare, telecommunications, media and technology. Ridgemont Equity Partners is a spun-off of Banc of America Capital Investors (BACI). Ridgemont Equity Partners was formed in August 2010 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 17 of 132
Sector (Manufacturing) 1 of 4
Type (Going Private) 1 of 9
State (California) 1 of 10
Country (United States) 17 of 117
Year (1998) 5 of 6
Size (of disclosed) 14 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-06-01 Collision Team of America

Indianapolis, Indiana, United States

Collision Team of America, Inc. is an owner and operator of automotive collision repair stores.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-10-09 VIPS

Baltimore, Maryland, United States

ViPS, Inc., an information technology company, provides healthcare data management, analytics, decision support, process automation, and related information technology solutions for governmental and commercial healthcare payers.

Buy -
Buyer

J.F. Lehman & Company

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1992
PE ASSETS 900M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

JF Lehman is a specialist private equity firm that targets investments in the defense, aerospace and maritime industries. JF Lehman looks for lower middle-market company opportunities with established products but that not may not be realizing their full potential. The Firm will only consider control based investment situations. J.F. Lehman was formed in 1992 and has offices in New York, London, and Washington DC.


DEAL STATS #
Overall 5 of 45
Sector (Manufacturing) 2 of 4
Type (Going Private) 1 of 4
State (California) 3 of 7
Country (United States) 5 of 41
Year (1998) 1 of 1
Size (of disclosed) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-08-13 Burke Industries

San Jose, California, United States

Burke Industries, Inc. is a supplier of military elastomer products and is a leading diversified manufacturer of highly engineered rubber, silicone and vinyl-based products for the aerospace, defense, commercial flooring, heavy-duty truck and fluid containment industries.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-07-19 McCormick Selph

Hollister, California, United States

McCormick Selph Ordnance is a manufacturer of pyrotechnic components and systems for the aerospace, automotive, and general industrial markets.

Buy -