Midwest Mezzanine Funds Mergers and Acquisitions Summary

Mezzanine Finance Firm Profile

In the last 3 years, Midwest Mezzanine Funds has acquired 9 companies. It has also invested in 9 others.

Midwest Mezzanine Funds’ most common sectors for investment arebusiness services (14%) and consumer products (10%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (39%) and growth capital (20%). In total, Midwest Mezzanine Funds has invested in 28 US states. Its largest (disclosed) acquisition occurred in 2004 when it acquired Culligan International for $610M.

In the last 3 years, Midwest Mezzanine Funds has exited 10 companies. The Firm’s most common exit type is secondary buyout (46%). Midwest Mezzanine Funds’ largest (disclosed) exit occurred in 2004 when it sold Castle Dental Centers for $56M.

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

M&A Summary

  • M&A Total Activity132
    • M&A Buy Activity81
    • M&A Sell Activity51
  • Total Sectors Invested 29
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 88
  • M&A Advisors 1

Midwest Mezzanine Funds

55 West Monroe Street, Suite 3650,
Chicago, Illinois 60603
United States
(312) 291-7300
www.mmfcapital.com
info@mmfcapital.com

Midwest Mezzanine Funds (MMF) is a provider of junior capital to lower middle-market, US and Canadian companies. MMF looks to invest $4 to $15 million to support buyouts, acquisition financings, recapitalizations, and growth capital needs. Prospective companies generally have consistent profits ($3 million of EBITDA), low capital intensity, and sustainable competitive advantages. Broad areas of interest include manufacturing, value-added distribution, and services. MMF will not invest in high technology, energy, or real estate. Midwest Mezzanine was formed in 1992 and has offices in Chicago and Monroe, Michigan.


Investment Criteria

Sectors of Interest: Automotive, Beverages, Building Materials, Business Services, Consumer Products, Consumer Services, Distribution, Education, Electrical Equipment, Electronics, Engineering, Environmental, Financial Services, Food, Franchising, Life Science, Machinery, Manufacturing, Marketing, Media, Medical Products, Metals/Mining, Packaging, Plastics, Publishing, Safety/Security, Technology Hardware, Transportation

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

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 3 -
Investment Size 4 15
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (4.6/yr) # 58 5 9 3 4 2 81
vol $676M $676M
Sell (2.2/yr) # 40 1 - 3 4 3 51
vol $179M $179M
  132

Most Recent M&A

Company Date Value Type
CALco Pallet Co. 2022-08-25 - Add-on Acquisition
Richmond, Illinois · www.usacalco.com
Western States Reclamation, Inc. 2022-04-18 - Growth Capital
Frederick, Colorado · www.wsreclamation.com
Imagine Technology Group LLC 2022-02-16 - Recapitalization
Chandler, Arizona · www.itgarizona.com
P3 Services LLC 2022-01-26 - Secondary Buyout
Auburn, Washington · www.p3services.com
Royal Pacific Ltd. 2022-01-12 - Add-on Acquisition
Albuquerque, New Mexico · www.rplighting.com
Packaging Concepts & Design, Inc. 2021-12-06 - Add-on Acquisition
Troy, Michigan · www.pcdpackaging.com
FireKing International LLC 2021-12-01 - Add-on Acquisition
New Albany, Indiana · www.fireking.com
Bogey Free LLC 2021-11-24 - Buyout (LBO, MBO, MBI)
Plano, Texas · www.rackmountsolutions.net
Fluence Automation LLC 2021-11-01 - Add-on Acquisition
Arlington Heights, Illinois · www.fluenceautomation.com
L.W. Allen, Inc. 2021-08-02 - Add-on Acquisition
Madison, Wisconsin · www.lwallen.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Astar Heating & Air LLC 2019-08-01 Sila Heating & Air Conditioning 2021-05-26 1
Middletown, New York · www.astarheating.com King of Prussia, Pennsylvania · www.sila.com
All Island Media, Inc. 2010-11-04 Pennysaver, Inc. 2018-01-23 1
Hicksville, New York · www.allislandmedia.com Hanover, Maryland · www.mdpennysaver.com
Vapor Power International LLC 2014-04-24 Precision Boilers LLC 2015-04-22 1
Franklin Park, Illinois · www.vaporpower.com Morristown, Tennessee · www.precisionboilers.com

M&A by Sector

Sector Current # Value All-time # Value
Business Services 5 (17%) - 11 (14%) -
Consumer Products 2 (7%) - 8 (10%) 610M (90%)
Distribution 1 (3%) - 6 (7%) -
Manufacturing 2 (7%) - 5 (6%) -
Automotive 2 (7%) - 4 (5%) -
Construction 3 (10%) - 4 (5%) -
Electrical Equipment 2 (7%) - 4 (5%) -
Information Technology 3 (10%) - 4 (5%) -
Safety/Security 1 (3%) - 4 (5%) -
Building Materials - - 3 (4%) -
Marketing 1 (3%) - 3 (4%) -
Packaging 1 (3%) - 3 (4%) -
Healthcare Services - - 2 (2%) 66M (10%)
Apparel/Textiles 1 (3%) - 2 (2%) -
Environmental 2 (7%) - 2 (2%) -
Medical Products 1 (3%) - 2 (2%) -
Software - - 2 (2%) -
Education - - 1 (1%) -
Electronics - - 1 (1%) -
Food - - 1 (1%) -
Forest Products - - 1 (1%) -
Franchising - - 1 (1%) -
Furniture - - 1 (1%) -
Internet Software and Services 1 (3%) - 1 (1%) -
Machinery - - 1 (1%) -
Media - - 1 (1%) -
Staffing 1 (3%) - 1 (1%) -
Technology Hardware - - 1 (1%) -
Test/Measurement Equipment 1 (3%) - 1 (1%) -
Total 30 - 81 $676M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 30 (100%) - 81 (100%) 676M (100%)
  California 3 (10%) - 9 (11%) -
  Illinois 1 (3%) - 9 (11%) 610M (90%)
  Texas 3 (10%) - 7 (9%) 66M (10%)
  Michigan 1 (3%) - 7 (9%) -
  Minnesota 1 (3%) - 5 (6%) -
  New York 4 (13%) - 4 (5%) -
  Indiana 2 (7%) - 4 (5%) -
  Wisconsin - - 4 (5%) -
  Arizona 3 (10%) - 3 (4%) -
  North Carolina 2 (7%) - 3 (4%) -
  Colorado 2 (7%) - 2 (2%) -
  Virginia 2 (7%) - 2 (2%) -
  New Jersey 1 (3%) - 2 (2%) -
  Washington 1 (3%) - 2 (2%) -
  Pennsylvania 1 (3%) - 2 (2%) -
  Missouri - - 2 (2%) -
  Maryland - - 2 (2%) -
  Tennessee - - 2 (2%) -
  New Hampshire 1 (3%) - 1 (1%) -
  Rhode Island 1 (3%) - 1 (1%) -
  Ohio 1 (3%) - 1 (1%) -
  New Mexico - - 1 (1%) -
  Iowa - - 1 (1%) -
  Georgia - - 1 (1%) -
  Florida - - 1 (1%) -
  Alabama - - 1 (1%) -
  Vermont - - 1 (1%) -
  Oregon - - 1 (1%) -
Total 30 - 81 $676M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 9 (30%) - 31 (38%) -
Growth Capital 9 (30%) - 16 (20%) -
Recapitalization 5 (17%) - 13 (16%) 66M (10%)
Secondary Buyout 7 (23%) - 11 (14%) -
Stake Purchase - - 6 (7%) -
Divestiture - - 3 (4%) 610M (90%)
Venture - - 1 (1%) -
Total 30 - 81 $676M

Exits by Deal Type

Type Total # Value
Secondary Sale 24 (47%) -
Trade Sale 19 (37%) 56M (31%)
Trade Sale - Public Company 4 (8%) 123M (69%)
Recapitalization 2 (4%) -
Merger 1 (2%) -
Unknown 1 (2%) -
Total 51 $179M

Top M&A Advisors

Financial Deals
BMO Capital Markets
1

Deal Values

buy # Total
$100M to $1B 1 $610M
< $100M 1 $66M
TOTAL $676M
Largest Culligan International Co.
$610M (2004-09-30)
sell # Total
< $100M 4 $179M
TOTAL $179M
Largest Castle Dental Centers, Inc.
$56M (2004-06-17)

M&A Connections

Deals
Acquired from
Investor(s)
15%
12 (15%)
Strategic(s)
4%
3 (4%)
Exited to
Investor(s)
47%
24 (47%)
Strategic(s)
47%
24 (47%)

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