M&A Deal Summary

JLL Partners Acquires Jonathan Engineered Solutions

On January 4, 2021, private equity firm JLL Partners acquired manufacturer Jonathan Engineered Solutions from Chicago Growth Partners and Golub Capital

Acquisition Highlights
  • This is JLL Partners’ 1st transaction in the Manufacturing sector.
  • This is JLL Partners’ 34th transaction in the United States.
  • This is JLL Partners’ 4th transaction in California.

M&A Deal Summary

Date 2021-01-04
Target Jonathan Engineered Solutions
Sector Manufacturing
Buyer(s) JLL Partners
Sellers(s) Chicago Growth Partners
Golub Capital
Deal Type Secondary Buyout

Target

Jonathan Engineered Solutions

Irvine, California, United States
website
Jonathan Engineered Solutions is a designer and manufacturer of customized steel and aluminum slides utilized in commercial and industrial applications, including the mounting of computer servers and storage systems, defense industry applications, and a variety of consumer product applications. Jonathan Engineered Solutions was founded in 1977 and is based in Irvine, California.

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Buyer(S) 1

Buyer

JLL Partners

New York, New York, United States

Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 5.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

JLL Partners, Inc. is a private equity investment firm that invests alongside management in middle-market companies. JLL prefers control investments in sectors such as healthcare services, medical products, food and consumer products, chemicals, broadcasting, transportation, automotive, industrial manufacturing, and distribution. In addition to traditional buyout transaction, JLL also seeks distressed/turnaround situations. JLL Partners was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 36 of 40
Sector (Manufacturing) 1 of 2
Type (Secondary Buyout) 9 of 9
State (California) 4 of 4
Country (United States) 34 of 38
Year (2021) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-13 MedeAnalytics

Richardson, Texas, United States

MedeAnalytics provides evidence-based insights to solve a real problem that plagues healthcare – how to use the immense amount of patient data collected along the care continuum to deliver cost-effective care and promote a healthier population. Its analytics platform delivers intelligence that helps healthcare organizations detect their greatest areas of risk and identify opportunities to improve their financial health. It empowers providers and health plans to collaborate and use data to strengthen their operations and improve the quality of care. MedeAnalytics was established in 1994 and is based in Richardson, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-16 Breakwater

Austin, Texas, United States

Breakwater helps enterprises mitigate risk and gain insight from sprawling information by combining technology automation and human expertise. The company empowers governance, legal, and risk professionals to locate, access, analyze, and manage information by making data transparent and actionable. Its solutions are comprised of expert consulting, AI-infused technology, and ongoing managed services, all of which directly address the myriad challenges within information governance, disputes and investigations, regulatory compliance, privacy, and cybersecurity. Breakwater was formed in 2020 and is based in Austin, Texas.

Buy -

Seller(S) 2

SELLER

Chicago Growth Partners

Chicago, Illinois, United States

website


Category Growth Capital Firm
Founded 2004
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Chicago Growth Partners LLC (CGP) was a Chicago-based based private equity firm that provided expansion and buyout capital to middle-market companies generating sales of $15 to $150 million. CGP sought to invest in business services, consumer services, healthcare products/services, and industrial companies. CGP was formed in 2004 as a spin-off of William Blair Capital Partners, the investment group of investment bank William Blair. In 2014, the Firm ceased operations.


DEAL STATS #
Overall 34 of 34
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 8 of 8
State (California) 10 of 10
Country (United States) 31 of 31
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-15 Teaching Strategies

Bethesda, Maryland, United States

Teaching Strategies is a provider of childhood educational resources, including curriculum and web-based assessment products. Teaching Strategies offers the industry’s widest selection of research-based, developmentally appropriate instruction and assessment products to the growing early childhood market. Teaching Strategies was established in 1988 and is based in Bethesda, Maryland.

Sell -
SELLER

Golub Capital

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Lender
Founded 1994
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golub Capital is a private investment firm focused on making debt and equity investments in US based middle-market companies. Golub looks to invest between $5 and $75 million in businesses with established operating cash flow, strong customer relationships, and 'sustainable proprietary positions in their markets'. Prospective investment structures include refinancings, recapitalizations, buyouts, and growth financings. Sectors of interest include consumer products, business and consumer services, defense, manufacturing, value-added distribution, media, healthcare services and restaurants. Golub Capital was formed in 1994 and maintains offices in New York City, Atlanta, and Chicago.


DEAL STATS #
Overall 21 of 39
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 11 of 19
State (California) 2 of 6
Country (United States) 21 of 38
Year (2021) 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-08 Tropical Smoothie Cafe

Atlanta, Georgia, United States

Tropical Smoothie Cafe is a franchisor of fast-casual cafes with over 870 units across 44 states. Tropical Smoothie inspires a healthier lifestyle by serving better-for-you smoothies, wraps, sandwiches, and flatbreads across multiple dayparts. Tropical Smoothie Cafe was founded in 1997 and is headquartered in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-12 Statlab Medical Products

McKinney, Texas, United States

Statlab Medical Products is a developer and manufacturer of cost-effective histology, cytology, and immunohistochemistry diagnostic supplies. StatLab offers 1,750 of the most commonly purchased diagnostic supplies used by independent and hospital-based anatomic pathology laboratories. Statlab Medical Products was founded in 1976 and is based in McKinney, Texas.

Sell -