M&A Deal Summary

Lincolnshire Management Acquires National Pen

On November 27, 2012, private equity firm Lincolnshire Management acquired consumer products company National Pen from Berwind

Acquisition Highlights
  • This is Lincolnshire Management’s 4th transaction in the Consumer Products sector.
  • This is Lincolnshire Management’s 20th transaction in the United States.
  • This is Lincolnshire Management’s 3rd transaction in California.
Investment Fate
  • National Pen was sold to a publicly-traded strategic buyer in 2016 for 218M USD.

M&A Deal Summary

Date 2012-11-27
Target National Pen
Sector Consumer Products
Buyer(s) Lincolnshire Management
Sellers(s) Berwind
Deal Type Secondary Buyout
Advisor(s) Harris Williams & Co. (Financial)

Target

National Pen

San Diego, California, United States
National Pen Co. LLC is a manufacturer and marketer of custom writing instruments for small and medium businesses.

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Buyer(S) 1

Buyer

Lincolnshire Management

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Lincolnshire Management, Inc. (LMI) is a private equity firm focused on acquiring small and mid-sized companies in partnership with management. LMI typically targets companies with the majority of business conducted within the US. Prospective companies also have cash-flows of $5 to $50 million and significant opportunities for growth, either internally or through acquisitions. Target transaction situations include corporate divestitures, selling shareholders, and owners desiring liquidity. Lincolnshire Management was formed in 1986 and has office in New York City.


DEAL STATS #
Overall 22 of 32
Sector (Consumer Products) 4 of 4
Type (Secondary Buyout) 3 of 6
State (California) 3 of 3
Country (United States) 20 of 29
Year (2012) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-27 TRUE Sports

Memphis, Tennessee, United States

TRUE Sports is a designer, manufacturer, and supplier of golf club shafts as well as performance sports products including hockey sticks, lacrosse stick handles and other equipment. TRUE Sports manufactures both steel and graphite shafts and its brands include Dynamic Gold, Dynalite, Project X, Rifle, and Alloy Blue. TRUE Sports was founded in 1902 and is based in Memphis, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-01 CSAT Solutions

Houston, Texas, United States

CSAT Solutions is a provider of fully-integrated electronic and digital device diagnostics and repair solutions. CSAT serves diverse end markets such as consumer electronics, industrial equipment and components, and medical devices and equipment. CSAT Solutions wounded in 1987 and headquartered in Houston, Texas.

Buy -

Seller(S) 1

SELLER

Berwind

Philadelphia, Pennsylvania, United States

Category Family Office
Founded 1886
Size Large
Type Sector Agnostic
DESCRIPTION

Berwind Corporation is a family-owned private investment firm focused on building a diversified portfolio of highly successful manufacturing and service companies. Target companies should be leaders in their respective markets, with strong organic growth prospects, and consistently high margins. Specific areas of interest include pharmaceutical, specialty chemical, office and craft, automotive, and natural resources. Acquisitions of any size are considered if they are assimilated into an existing Berwind company. Potential new platform companies range in value between $200 and $900 million. Berwind Corporation dates back to 1886 and is based in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 1 of 6
Sector (Consumer Products) 1 of 3
Type (Secondary Buyout) 1 of 2
State (California) 1 of 1
Country (United States) 1 of 5
Year (2012) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-13 Oliver Products

Grand Rapids, Michigan, United States

Oliver Products provides medical packaging solutions for Class II and III medical device OEMs, meal packaging products for foodservice markets and niche food processing equipment with aftermarket support services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-17 TASI

Harrison, Ohio, United States

TASI is a manufacturer of highly-engineered leak test and measurement equipment designed to enhance manufacturing efficiency in the automotive, plastics, industrial and pharmaceutical end markets. TASI is headquartered in Cincinnati, OH and dates back to 1981 when the company was founded as Cincinnati Test Systems.

Buy -