Maranon Capital Mergers and Acquisitions Summary

Mezzanine Finance Firm Profile

In the last 3 years, Maranon Capital has acquired 2 companies. It has also invested in 2 others.

Maranon Capital’s most common sectors for investment arebusiness services (11%) and software (11%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (32%) and secondary buyout (27%). In total, Maranon Capital has invested in 19 US states and 2 different countries.

In the last 3 years, Maranon Capital has exited 1 company. The Firm’s most common exit type is secondary buyout (65%).

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M&A Summary

  • M&A Total Activity58
    • M&A Buy Activity38
    • M&A Sell Activity20
  • Total Sectors Invested 20
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 35
  • M&A Advisors 3

Maranon Capital

303 West Madison Street, Suite 2500,
Chicago, Illinois 60606
United States
(312) 646-1200
www.maranoncapital.com
info@maranoncapital.com

Maranon Capital LP is an investment firm that provides senior financing, mezzanine debt and equity co-investments for private equity backed and non sponsored middle market companies. Maranon seeks investments in financially healthy businesses with stable cash flows, diverse customers, and strong management. Prospective companies are valued between $30 and $150 million and generate $5 to $30 million of EBITDA. Maranon looks to invest $2 to $10 million for equity co-investments, $5 to $30 million for junior capital needs, and $10 to $50 million for senior debt requirements. Areas of interest include business services, healthcare services, distribution, manufacturing and consumer products/services. Funds typically support acquisitions, recapitalizations, refinancings, consolidations, ESOPs and growth capital needs. Maranon Capital LP was formed in 2007 and is based in Chicago. The Firm has additional offices in Birmingham, Michigan and South Bend, Indiana.


Investment Criteria

Sectors of Interest: Business Services, Consumer Products, Consumer Services, Distribution, Healthcare Services, Information Technology, Insurance, Manufacturing, Medical Products, Software, Test/Measurement Equipment

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Growth Capital, Recapitalization

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 5 30
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.4/yr) # 31 3 2 2 - - 38
Sell (1.0/yr) # 15 4 - - 1 - 20
  58

Most Recent M&A

Company Date Value Type
Tax Guard LLC 2023-09-19 - Trade Sale
Westminster, Colorado · www.tax-guard.com
Nutrition 101, Inc. 2022-09-07 - Growth Capital
Quincy, Illinois · www.101inc.com
LDR Site Services 2022-03-08 - Recapitalization
Atlanta, Georgia · www.ldrsiteservices.com
Advent Home Medical, Inc. 2021-03-12 - Growth Capital
Pontiac, Michigan · www.adventhomemedical.com
Vivo Infusion 2021-01-01 - Buyout (LBO, MBO, MBI)
Lakewood, Colorado · www.vivoinfusion.com
Wedgewood Pharmacy 2020-12-09 - Secondary Sale
Swedesboro, New Jersey · www.wedgewoodpharmacy.com
GeoLinks 2020-12-02 - Growth Capital
Camarillo, California · www.geolinks.com
iVision 2020-09-11 - Buyout (LBO, MBO, MBI)
Atlanta, Georgia · www.ivision.com
Ground Penetrating Radar Systems, Inc. 2020-06-29 - Secondary Buyout
Toledo, Ohio · www.gp-radar.com
PKWARE, Inc. 2020-05-13 - Secondary Sale
Milwaukee, Wisconsin · www.pkware.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Innovative Chemical Products Group 2016-01-19 ICP Industrial Solutions Group 2023-02-06 1
Andover, Massachusetts · www.icpgroup.com Itasca, Illinois · www.icpindustrial.com
All States Ag Parts 2018-05-21 Arrow Acquisition LLC 2022-10-12 10
De Soto, Iowa · www.tractorpartsasap.com Lenexa, Kansas · www.arrowmhp.com
Innovative Chemical Products Group 2016-01-19 Choice Slocum Holdings LLC 2021-04-19 14
Andover, Massachusetts · www.icpgroup.com Cincinnati, Ohio · www.choiceadhesivescorp.com
Veryon 2015-11-17 Flightdocs, Inc. 2020-06-18 3
Malaga, Spain · www.veryon.com Bonita Springs, Florida · www.flightdocs.com
Innovative Chemical Products Group 2016-01-19 Hi-Tech Coatings International Ltd. 2019-11-20 13
Andover, Massachusetts · www.icpgroup.com Buckinghamshire, United Kingdom · www.hitechcoatings.net
Innovative Chemical Products Group 2016-01-19 IdeaPaint, Inc. 2019-09-16 12
Andover, Massachusetts · www.icpgroup.com Ashland, Massachusetts · www.ideapaint.com
Innovative Chemical Products Group 2016-01-19 TPR2 Corp. - Intumescent Coatings 2019-02-26 11
Andover, Massachusetts · www.icpgroup.com Essex, Connecticut
Innovative Chemical Products Group 2016-01-19 Signature Sports Flooring 2018-09-25 10
Andover, Massachusetts · www.icpgroup.com Flower Mound, Texas · www.signaturesportsflooring.com
Ameda, Inc. 2013-01-10 Creche Innovations - Penguin Nutritional Warming Products 2016-10-31 1
Buffalo Grove, Illinois · www.ameda.com Stilwell, Kansas
Innovative Chemical Products Group 2016-01-19 3m - Pressurized Polyurethane Foam Adhesives Business 2016-01-20 9
Andover, Massachusetts · www.icpgroup.com St. Paul, Minnesota

M&A by Sector

Sector Current # Value All-time # Value
Business Services 2 (13%) - 4 (11%) -
Software 2 (13%) - 4 (11%) -
Chemicals 1 (6%) - 3 (8%) -
Consumer Products 1 (6%) - 3 (8%) -
Machinery - - 3 (8%) -
Medical Products 1 (6%) - 3 (8%) -
Food - - 2 (5%) -
Healthcare Services 1 (6%) - 2 (5%) -
Information Technology 1 (6%) - 2 (5%) -
Internet Software and Services - - 2 (5%) -
Beverages 1 (6%) - 1 (3%) -
Communications 1 (6%) - 1 (3%) -
Distribution 1 (6%) - 1 (3%) -
Education - - 1 (3%) -
Environmental 1 (6%) - 1 (3%) -
Information Services - - 1 (3%) -
Life Science - - 1 (3%) -
Marketing 1 (6%) - 1 (3%) -
Retail 1 (6%) - 1 (3%) -
Technology Hardware 1 (6%) - 1 (3%) -
Total 16 - 38 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 15 (94%) - 37 (97%) -
  Illinois 3 (19%) - 5 (13%) -
  Ohio 2 (13%) - 4 (11%) -
  Georgia 2 (13%) - 3 (8%) -
  California 2 (13%) - 3 (8%) -
  Colorado 1 (6%) - 3 (8%) -
  Massachusetts 1 (6%) - 3 (8%) -
  New Jersey 1 (6%) - 2 (5%) -
  Michigan 1 (6%) - 2 (5%) -
  Wisconsin - - 2 (5%) -
  Maryland 1 (6%) - 1 (3%) -
  Iowa 1 (6%) - 1 (3%) -
  District of Columbia - - 1 (3%) -
  Tennessee - - 1 (3%) -
  Rhode Island - - 1 (3%) -
  Oregon - - 1 (3%) -
  North Carolina - - 1 (3%) -
  Missouri - - 1 (3%) -
  Minnesota - - 1 (3%) -
  Indiana - - 1 (3%) -
Spain 1 (6%) - 1 (3%) -
Domestic 15 (94%) - 37 (97%) -
Cross-border 1 (6%) - 1 (3%) -
Total 16 - 38 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 4 (25%) - 12 (32%) -
Secondary Buyout 2 (13%) - 10 (26%) -
Growth Capital 3 (19%) - 6 (16%) -
Recapitalization 3 (19%) - 5 (13%) -
Divestiture 2 (13%) - 3 (8%) -
Consolidation 2 (13%) - 2 (5%) -
Total 16 - 38 -

Exits by Deal Type

Type Total # Value
Secondary Sale 13 (65%) -
Trade Sale 4 (20%) -
Recapitalization 2 (10%) -
Merger 1 (5%) -
Total 20 -

Top M&A Advisors

Legal Deals
Katten Muchin Rosenman
 2
Proskauer Rose LLP
 2
Ropes & Gray
 1

M&A Connections

Deals
Acquired from
Investor(s)
26%
10 (26%)
Strategic(s)
8%
3 (8%)
Exited to
Investor(s)
75%
15 (75%)
Strategic(s)
25%
5 (25%)

Investor Summary

Investor Type

Mezzanine Finance Firm

Size

Large

PE Assets

4.0B USD

Established

2007

Specialist/Generalist

Generalist

Leadership

Ian Larkin

Co-Founder & Managing Director

Andrew Eshelman

Managing Director

Daniel Kirmse

Managing Director

Demian Kircher

Managing Director

Greg Daniele

Managing Director

FAQ

When was Maranon Capital founded?

Maranon Capital was founded in 2007.

What type of investor is Maranon Capital?

Maranon Capital is a mezzanine finance firm.

Where is Maranon Capital headquartered?

Maranon Capital is headquartered in Chicago, Illinois.

How much capital does Maranon Capital have under management?

Maranon Capital has 4.0B USD under management.

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