Secondary Buyout • Machinery

Odyssey Investment Partners Acquires Fischbein

On May 13, 2013, private equity firm Odyssey Investment Partners acquired machinery company Fischbein from Prospect Capital Management, MSouth Equity Partners and Triangle Capital

Acquisition Context
  • This is Odyssey Investment Partners’ 3rd transaction in the Machinery sector.
  • This is Odyssey Investment Partners’ 31st transaction in the United States.
  • This is Odyssey Investment Partners’ 2nd transaction in North Carolina.
Investment Fate
  • Fischbein merged with another company in 2016.

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M&A Deal Summary

Date May 13, 2013
Target Fischbein
Sector Machinery
Buyer(s) Odyssey Investment Partners
Sellers(s) Prospect Capital Management
MSouth Equity Partners
Triangle Capital
Deal Type Secondary Buyout
Advisor(s) Sagent Advisors (Financial)

Target Company

Fischbein

Statesville, North Carolina, United States
Fischbein designs, manufactures, and distributes packaging and material handling equipment. The Company offers filling, weighing, closing, handling, palletizing equipment, and sewing and sealing equipment. Fischbein is headquartered in Statesville, North Carolina.
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Buyer Overview 1

Buyer

Odyssey Investment Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 8.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Odyssey Investment Partners is a private equity firm that seeks control/majority investments in middle-market companies. Odyssey looks to back existing management and make investments in the form of leveraged acquisitions, growth financings and recapitalizations. Sectors of interest include industrial manufacturing, business and financial services, aerospace products and services, and 'route-based services'. Odyssey Investment Partners is based in New York, New York.


Deal Context for Buyer #
Overall 33 of 54
Sector: Machinery 3 of 3
Type: Secondary Buyout 12 of 23
State: North Carolina 2 of 6
Country: United States 31 of 51
Year: 2013 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-01 Duravant

Downers Grove, Illinois, United States

Duravant is a provider of highly engineered automation equipment and related aftermarket solutions for packaging, material handling, and food processing applications. Duravant designs and assembles mission-critical equipment, including form-fill-seal machines, robotic palletizers, conveyors, and thermal processors, primarily serving the food and beverage, e-commerce, distribution, and agriculture end-markets. Duravant is based in Downers Grove, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-19 Cross Country Pipeline Supply

Aurora, Colorado, United States

Cross Country Pipeline Supply provides specialized equipment to the domestic pipeline construction industry for rent and sale. The Company’s customers are typically pipeline contractors engaged by energy companies to construct new pipeline or retrofit or repair existing lines. Cross Country also sells consumable parts and supplies. Cross Country Pipeline Supply is based in Aurora, Colorado.

Buy -

Seller Profiles 3

SELLER

Prospect Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Business Development Company
Founded 1988
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Capital Corporation is a publicly traded mezzanine debt and private equity firm that primarily provides non-control financing to support growth, recapitalizations, acquisitions, and development. Prospect will selectively consider control acquisitions by providing multiple levels of the capital structure. Prospect was initially formed in 1988 and went public 2004. The Firm is based in New York City.


Deal Context for Seller #
Overall 18 of 48
Sector: Machinery 1 of 3
Type: Secondary Buyout 9 of 23
State: North Carolina 1 of 1
Country: United States 18 of 47
Year: 2013 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-22 Springs Window Fashions

Middleton, Wisconsin, United States

Springs Window Fashions is a manufacturer and marketer of custom and stock window coverings and drapery hardware to retail and commercial customers, as well as independent designers, franchisors, and decorators. Springs Window Fashions was founded in 1939 and is based in Middleton, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-05 CP Energy Services

Weatherford, Oklahoma, United States

CP Energy Services is a provider of water hauling, disposal, and acid services for oil & gas exploration and production companies. CP Energy Services provides flowback and well-testing services in support of oil & gas exploration and production companies in the Granite Wash, Permian, and Cana-Woodford plays. CP Energy Services is based in Weatherford, Oklahoma.

Buy $105M
SELLER

MSouth Equity Partners

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

MSouth Equity Partners is a private equity firm focused on mid-sized company investments and acquisitions valued between $25 and $250 million. The Firm prefers opportunities in Southern US and looks to commit $25 to $100 million per transaction. Sectors of interest include distribution, business services, media, telecom, and specialty manufacturing. MSouth is the successor to private equity firm, Cravey, Green & Wahlen, Inc. which was founded in 1984. MSouth Equity Partners is based in Atlanta, Georgia.


Deal Context for Seller #
Overall 7 of 36
Sector: Machinery 1 of 1
Type: Secondary Buyout 4 of 15
State: North Carolina 1 of 3
Country: United States 7 of 36
Year: 2013 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-31 Technical Innovations

Norcross, Georgia, United States

Technical Innovation is a provider of custom design-build audio visual integration services and digital multimedia technology. The Company focuses on providing video-centric communication solutions to corporations, state and federal government agencies, universities, professional organizations and faith-based markets. Due to the Company's experience as an audio visual systems designer as well as its proprietary design-build integration process, Technical Innovation is uniquely positioned to provide its customers with comprehensive, customized services including turnkey design-build projects, custom software development and integration, full project management and ongoing customer support.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-31 InSite Street Media

Sherman Oaks, California, United States

InSite Street Media is an out-of-home media company with municipal transit and comprehensive street furniture assets in suburban tier one markets. InSite currently operates transit advertising franchises in New York, Los Angeles, Atlanta, Miami – Ft. Lauderdale, Tampa – St. Petersburg and the suburban Washington D.C. area. InSite’s advertising offerings primarily exist on bus shelters, bus wraps and passenger benches. InSite Street Media was founded in 1998 and is based in Sherman Oaks, California.

Buy -
SELLER

Triangle Capital

Raleigh, North Carolina, United States

Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION


Deal Context for Seller #
Overall 10 of 72
Sector: Machinery 1 of 2
Type: Secondary Buyout 3 of 27
State: North Carolina 4 of 8
Country: United States 10 of 71
Year: 2013 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-08 Dyno

Pompano Beach, Florida, United States

Dyno is an exclusive licensee of the Singer brand for sewing accessories and a large producer and marketer of holiday decorative home products. Dyno was founded in 1954 and is based in Pompano Beach, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-15 Eagle Infrastructure Services

Houston, Texas, United States

Eagle Infrastructure Services provides third-party inspection services for the maintenance of oil and natural gas transmission, distribution, midstream and gathering lines, and other critical infrastructure. Other infrastructure includes refinery, power plant, compressor and pump stations, and mechanical integrity projects. A-C also offers complementary, specialized nondestructive and qualification services across the entire spectrum of the industry. Eagle Infrastructure Services was founded in 1991 and is based in Houston, Texas.

Buy -