Northstar Capital Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Northstar Capital has acquired 5 companies.

Northstar Capital’s most common sectors for investment are manufacturing (12%) and business services (10%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (41%) and secondary buyout (20%). In total, Northstar Capital has invested in 33 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2000 when it acquired Ovation Brands for $665M.

In the last 3 years, Northstar Capital has exited 11 companies. The Firm’s most common exit type is secondary buyout (36%). Northstar Capital’s largest (disclosed) exit occurred in 2020 when it sold Windy City Wire Cable & Technology Products for $550M.

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M&A Summary

  • M&A Total Activity137
    • M&A Buy Activity84
    • M&A Sell Activity53
  • Total Sectors Invested 30
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 72
  • M&A Advisors 2

Northstar Capital LLC

2310 Plaza VII, 45 South Seventh Street,
Minneapolis, Minnesota 55402
United States
(612) 371-5700
www.northstarcapital.com

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.


Investment Criteria

Sectors of Interest: Aerospace, Agriculture, Automotive, Building Materials, Business Services, Chemicals, Communications, Consumer Products, Consumer Services, Distribution, Education, Electrical Equipment, Electronics, Engineering, Environmental, Financial Services, Healthcare Services, Insurance, Life Science, Machinery, Manufacturing, Marine, Marketing, Medical Products, Packaging, Plastics, Restaurants, Test/Measurement Equipment, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture

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

Transaction Criteria Min Max
Target Revenue 20 200
Target EBITDA - -
Investment Size 5 30
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (2.0/yr) # 74 5 2 1 2 - 84
vol $900M $900M
Sell (3.0/yr) # 38 4 2 5 2 2 53
vol $445M $705M $1.1B
  137

Most Recent M&A

Company Date Value Type
MBH Settlement Group L.C. 2021-04-21 - Add-on Acquisition
Chantilly, Virginia · www.mbh.com
Weaver Leather LLC 2021-03-18 - Secondary Buyout
Mount Hope, Ohio · www.weaverleather.com
Fresche Solutions, Inc. 2020-12-10 - Buyout (LBO, MBO, MBI)
Montreal, Quebec · www.freschesolutions.com
Windy City Wire Cable & Technology Products LLC 2020-09-22 550M GBP Add-on Acquisition
Bolingbrook, Illinois · www.smartwire.com
Yale Cordage, Inc. 2020-07-31 - Buyout (LBO, MBO, MBI)
Saco, Maine · www.yalecordage.com
Vectorply Corp. 2020-03-03 155M USD Add-on Acquisition
Phenix City, Alabama · www.vectorply.com
JMH International LLC 2019-12-12 - Add-on Acquisition
Salt Lake City, Utah · www.jmhpremium.com
Gary Platt Manufacturing LLC 2019-12-12 - Secondary Buyout
Reno, Nevada · www.garyplatt.com
Specified Fittings LLC 2019-11-15 - Add-on Acquisition
Bellingham, Washington · www.specifiedfittings.com
Advanced Material Processing 2019-09-04 - Consolidation
, United States
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Advanced Material Processing 2019-09-04 Kason Corp. 2019-09-04 1
, United States Millburn, New Jersey · www.kason.com
United Rotary Brush Corp. 2008-08-01 Three B Brush Corp - Road and Gutter Broom Assets 2015-09-04 3
Lenexa, Kansas · www.united-rotary.com , United States
Pyramid Healthcare, Inc. 2011-07-07 Onward Behavioral Health, Inc. 2014-05-12 8
Duncansville, Pennsylvania · www.pyramidhealthcarepa.com Columbiana, Alabama · www.obhcares.com

M&A by Sector

Sector Current # Value All-time # Value
Manufacturing 5 (13%) 235M (100%) 10 (12%) 235M (26%)
Business Services 4 (11%) - 8 (10%) -
Consumer Products 5 (13%) - 8 (10%) -
Distribution 3 (8%) - 7 (8%) -
Machinery 4 (11%) - 6 (7%) -
Healthcare Services 2 (5%) - 4 (5%) -
Automotive 1 (3%) - 3 (4%) -
Building Materials 1 (3%) - 3 (4%) -
Electrical Equipment - - 3 (4%) -
Food 1 (3%) - 3 (4%) -
Information Technology 3 (8%) - 3 (4%) -
Medical Products 2 (5%) - 3 (4%) -
Test/Measurement Equipment 1 (3%) - 3 (4%) -
Chemicals - - 2 (2%) -
Consumer Services 1 (3%) - 2 (2%) -
Electronics - - 2 (2%) -
Restaurants - - 1 (1%) 665M (74%)
Aerospace 1 (3%) - 1 (1%) -
Agriculture 1 (3%) - 1 (1%) -
Communications - - 1 (1%) -
Digital Media 1 (3%) - 1 (1%) -
Environmental - - 1 (1%) -
Furniture - - 1 (1%) -
Life Science - - 1 (1%) -
Marine - - 1 (1%) -
Marketing - - 1 (1%) -
Packaging - - 1 (1%) -
Plastics - - 1 (1%) -
Safety/Security 1 (3%) - 1 (1%) -
Software 1 (3%) - 1 (1%) -
Total 38 $235M 84 $900M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 35 (92%) - 80 (95%) 665M (74%)
  Minnesota 2 (5%) - 8 (10%) 665M (74%)
  Illinois 1 (3%) - 8 (10%) -
  Wisconsin 3 (8%) - 6 (7%) -
  Pennsylvania 1 (3%) - 5 (6%) -
  Tennessee 3 (8%) - 4 (5%) -
  Ohio 2 (5%) - 4 (5%) -
  Texas 2 (5%) - 3 (4%) -
  New Jersey 2 (5%) - 3 (4%) -
  Indiana 1 (3%) - 3 (4%) -
  Washington 1 (3%) - 3 (4%) -
  Michigan 1 (3%) - 3 (4%) -
  California - - 3 (4%) -
  Louisiana 2 (5%) - 2 (2%) -
  North Carolina 1 (3%) - 2 (2%) -
  New York 1 (3%) - 2 (2%) -
  Nevada 1 (3%) - 2 (2%) -
  Missouri 1 (3%) - 2 (2%) -
  Georgia - - 2 (2%) -
  Kansas 1 (3%) - 1 (1%) -
  Florida 1 (3%) - 1 (1%) -
  Connecticut 1 (3%) - 1 (1%) -
  Arkansas 1 (3%) - 1 (1%) -
  Oklahoma 1 (3%) - 1 (1%) -
  Nebraska 1 (3%) - 1 (1%) -
  Montana 1 (3%) - 1 (1%) -
  Massachusetts 1 (3%) - 1 (1%) -
  Maine 1 (3%) - 1 (1%) -
  Colorado - - 1 (1%) -
  Arizona - - 1 (1%) -
  Alabama - - 1 (1%) -
  Virginia - - 1 (1%) -
  Utah - - 1 (1%) -
Canada 2 (5%) - 3 (4%) -
  Quebec 1 (3%) - 1 (1%) -
  Alberta 1 (3%) - 1 (1%) -
  Ontario - - 1 (1%) -
Singapore 1 (3%) 235M (100%) 1 (1%) 235M (26%)
Domestic 35 (92%) - 80 (95%) 665M (74%)
Cross-border 3 (8%) 235M (100%) 4 (5%) 235M (26%)
Total 38 $235M 84 $900M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 15 (39%) - 34 (40%) 665M (74%)
Secondary Buyout 5 (13%) - 16 (19%) -
Recapitalization 6 (16%) - 14 (17%) -
Growth Capital 9 (24%) - 13 (15%) -
Consolidation 1 (3%) - 3 (4%) -
Divestiture 1 (3%) - 2 (2%) -
Going Private 1 (3%) 235M (100%) 1 (1%) 235M (26%)
Stake Purchase - - 1 (1%) -
Total 38 $235M 84 $900M

Exits by Deal Type

Type Total # Value
Secondary Sale 21 (40%) 5M (< 1%)
Trade Sale 12 (23%) -
Trade Sale - Public Company 9 (17%) 1.1B (100%)
Unknown 3 (6%) -
Bankruptcy 2 (4%) -
Merger 2 (4%) -
1 (2%) -
Divestiture 1 (2%) -
Recapitalization 1 (2%) -
Shut Down 1 (2%) -
Total 53 $1.1B

Top M&A Advisors

Financial Deals
Stout Risius Ross LLC
1
Legal Deals
Allen & Gledhill LLP
1

Deal Values

buy # Total
$100M to $1B 2 $900M
TOTAL $900M
Largest Ovation Brands, Inc.
$665M (2000-06-06)
sell # Total
$100M to $1B 4 $968M
< $100M 3 $182M
TOTAL $1.1B
Largest Windy City Wire Cable & Technology Products LLC
$550M (2020-09-22)

M&A Connections

Deals
Acquired from
Investor(s)
21%
18 (21%)
Strategic(s)
2%
2 (2%)
Exited to
Investor(s)
42%
22 (42%)
Strategic(s)
40%
21 (40%)

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