Lubar Mergers and Acquisitions Summary

Private Equity Profile

Lubar’s most common sectors for investment are manufacturing (20%) and business services (14%). The Firm’s most common investment types include stake purchase (40%) and buyout (lbo, mbo, mbi) (27%). In total, Lubar has invested in 7 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 2004 when it acquired Erdman for $85M.

In the last 3 years, Lubar has exited 1 company. The Firm’s most common exit type is trade sale (72%). Lubar’s largest (disclosed) exit occurred in 2012 when it sold Cogdell Spencer for $770M.

Join Mergr to view Lubar’s full profile and discover more middle-market private equity firms just like it.

M&A Summary

  • M&A Total Activity22
    • M&A Buy Activity15
    • M&A Sell Activity7
  • Total Sectors Invested 10
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 6

Lubar & Co.

833 East Michigan Street, Suite 1500,
Milwaukee, Wisconsin 53202
United States
(414) 291-9000
www.lubar.com
info@lubar.com

Lubar & Co. is a private investment firm that seeks control or minority investments in Midwest US-based companies from the Great Lakes to Texas. The Firm looks for businesses with at least $15 million of revenue and valued between $15 and $100 million. Sectors of interest include niche manufacturing, business services, energy, architecture/engineering/construction, healthcare products and services, and asset management. Prospective transaction situations can include management buyouts, generational changes of ownership, recapitalizations, corporate divestitures, late-stage growth equity, and co-investments with other private equity firms. Lubar & Co. was formed in 1968 and is based in Milwaukee, Wisconsin.


Investment Criteria

Sectors of Interest: Building Materials, Business Services, Communications, Construction, Distribution, Energy Services and Equipment, Financial Services, Food, Healthcare Services, Leisure, Manufacturing, Medical Products, Oil/Gas Exploration, Real Estate, Transportation

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

Geographic Preferences: Midwest US

Transaction Criteria Min Max
Target Revenue 15 -
Target EBITDA 3 12
Investment Size - -
Enterprise Value 15 100
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.0/yr) # 15 - - - - - 15
vol $85M $85M
Sell (0.2/yr) # 6 - - 1 - - 7
vol $1.7B $1.7B
  22

Most Recent M&A

Company Date Value Type
EnLink Midstream Partners LP 2018-10-22 - Add-on Acquisition
Dallas, Texas · www.enlink.com
ChemDesign Products, Inc. 2012-11-27 - Secondary Buyout
Marinette, Wisconsin · www.chemdesign.com
Hallador Energy Co. 2012-10-19 - IPO
Terre Haute, Indiana · www.halladorenergy.com
Erdman Corp. 2012-04-03 - Divestiture
Madison, Wisconsin · www.erdman.com
Cogdell Spencer, Inc. 2012-04-02 770M USD Add-on Acquisition
Charlotte, North Carolina
Drilltec Corp. 2012-03-16 - Secondary Buyout
Houston, Texas · www.drilltec.com
Wrightwood Capital 2011-08-18 - Secondary Buyout
Chicago, Illinois · www.wrightwoodcapital.com
American Pasteurization Co. 2011-06-24 - Buyout (LBO, MBO, MBI)
Milwaukee, Wisconsin · www.pressurefresh.com
Optique Capital Management, Inc. 2011-02-11 - Add-on Acquisition
Milwaukee, Wisconsin · www.optiquecapital.com
Ellora Energy, Inc. 2010-10-29 695M USD Add-on Acquisition
Boulder, Colorado · www.elloraenergy.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
American Pasteurization Co. 2011-06-24 FreshCo Foods 2019-01-23 1
Milwaukee, Wisconsin · www.pressurefresh.com Milwaukee, Wisconsin

M&A by Sector

Sector Current # Value All-time # Value
Manufacturing 3 (43%) - 3 (20%) -
Business Services 1 (14%) - 2 (13%) 85M (100%)
Energy Services and Equipment - - 2 (13%) -
Financial Services - - 2 (13%) -
Building Materials 1 (14%) - 1 (7%) -
Chemicals 1 (14%) - 1 (7%) -
Food - - 1 (7%) -
Healthcare Services - - 1 (7%) -
Medical Products 1 (14%) - 1 (7%) -
Oil/Gas Exploration - - 1 (7%) -
Total 7 - 15 $85M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 7 (100%) - 14 (93%) 85M (100%)
  Wisconsin 4 (57%) - 6 (40%) 85M (100%)
  Texas 1 (14%) - 2 (13%) -
  Illinois 1 (14%) - 2 (13%) -
  Minnesota 1 (14%) - 1 (7%) -
  West Virginia - - 1 (7%) -
  Oregon - - 1 (7%) -
  Colorado - - 1 (7%) -
Switzerland - - 1 (7%) -
Domestic 7 (100%) - 14 (93%) 85M (100%)
Cross-border - - 1 (7%) -
Total 7 - 15 $85M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Stake Purchase - - 6 (40%) -
Buyout (LBO, MBO, MBI) 3 (43%) - 4 (27%) 85M (100%)
Divestiture 2 (29%) - 2 (13%) -
Secondary Buyout 2 (29%) - 2 (13%) -
PIPE - - 1 (7%) -
Total 7 - 15 $85M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 4 (57%) 1.7B (100%)
IPO 1 (14%) -
Secondary Sale 1 (14%) -
Trade Sale 1 (14%) -
Total 7 $1.7B

Deal Values

buy # Total
< $100M 1 $85M
TOTAL $85M
Largest Erdman Corp.
$85M (2004-01-01)
sell # Total
$100M to $1B 3 $1.7B
TOTAL $1.7B
Largest Cogdell Spencer, Inc.
$770M (2012-04-02)

M&A Connections

Deals %
Acquired from
PE Firm(s)
50%
2 50%
Strategic(s)
50%
2 50%
Exited to
PE Firm(s)
17%
1 17%
Strategic(s)
83%
5 83%

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