M&A Deal Summary

Mosaic Capital Partners Acquires NuSource Financial

On February 16, 2021, mezzanine finance firm Mosaic Capital Partners acquired safety/security company NuSource Financial from Tonka Bay Equity Partners

Acquisition Highlights
  • This is Mosaic Capital Partners’ 1st transaction in the Safety/Security sector.
  • This is Mosaic Capital Partners’ 9th transaction in the United States.
  • This is Mosaic Capital Partners’ 1st transaction in Minnesota.

M&A Deal Summary
Date 2021-02-16
Target NuSource Financial
Sector Safety/Security
Buyer(s) Mosaic Capital Partners
Sellers(s) Tonka Bay Equity Partners
Deal Type Secondary Buyout
Advisor(s) Duff & Phelps Corp. (Financial)

Target

NuSource Financial

Eden Prairie, Minnesota, United States
NuSource Financial is a provider of ATM services, equipment, and commercial security systems company focused on serving financial institutions. NuSource Financial was formed in 1999 and is based in Eden Prairie, Minnesota.

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Buyer(S) 1

Buyer

Mosaic Capital Partners

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2011
Size Small
Type Sector Agnostic
DESCRIPTION

Mosaic Capital Partner is a private investment firm focused on providing equity and mezzanine capital to lower middle-market companies with at least $10 million in revenue. The Firm has a special interest in companies with ESOPs and will consider businesses operating in a range of sectors including business services, chemicals, consumer products, environmental, food/beverages, healthcare services, distribution, machinery, and niche manufacturing. The Firm's geographic preference is businesses in the Southeast, Midwest, and Mid-Atlantic US. Mosaic Capital Partners was formed in 2011 and is headquartered in Charlotte, North Carolina.

DEAL STATS #
Overall 9 of 9
Sector (Safety/Security) 1 of 1
Type (Secondary Buyout) 3 of 3
State (Minnesota) 1 of 1
Country (United States) 9 of 9
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-25 Custom Profile

Grand Rapids, Michigan, United States

Custom Profile is a manufacturer of plastic profile extruded products primarily for the office furniture, appliance, medical, recreational and RV industry, and point-of-purchase markets. Custom Profile has diverse and flexible manufacturing capabilities with the ability to satisfy a variety of customer demand requirements. Custom Profile was founded in 1992 and is based in Grand Rapids, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-04 ETAK Systems

Charlotte, North Carolina, United States

ETAK Systems is an outsourced service provider to wireless carriers for scheduled maintenance and installation activities for wireless communication infrastructures in six primary regions throughout the U.S. ETAK’s wireless communication infrastructure services include reserve battery power installation/replacement, power plant upgrades, and capacity-expanding radio installations for carriers. Specializing in services related to communication infrastructure, ETAK also offers site reviews, location analysis, engineering audits, battery testing, small cell, and distributed antenna system installation. ETAK Systems was founded in 1997 and is based in Charlotte, North Carolina.

Sell -

Seller(S) 1

SELLER

Tonka Bay Equity Partners

Minnetonka, Minnesota, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 560M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tonka Bay Equity Partners is a Midwest US-based private equity firm that targets control and non-control investments in manufacturing, business services, and value-added distribution companies with at least $2 million of EBITDA. Tonka Bay will consider a variety of transaction situations, including management buyouts, shareholder liquidity events, recapitalizations, and expansions. Tonka Bay Equity Partners was formed in 1998 and is based in Minnetonka, Minnesota.

DEAL STATS #
Overall 21 of 24
Sector (Safety/Security) 2 of 2
Type (Secondary Buyout) 10 of 11
State (Minnesota) 6 of 8
Country (United States) 21 of 24
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-02 Orange Tree Employment Screening

Minneapolis, Minnesota, United States

Orange Tree provides technology-enabled background screening, drug testing, and occupational health services. The company's services and solutions help companies focus on their business while empowering them to fill its open positions. Orange Tree Employment Screening was founded in 1990 and is based in Minneapolis, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-26 Professional

Vancouver, Washington, United States

Professional delivers value-added accounts receivable management services to their healthcare, governmental, and utilities client base. The company combines innovative proprietary technology, industry-leading compliance, and best-in-class customer service. Professional was formed in 1933 and is based in Vancouver, Washington.

Buy -
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