M&A Deal Summary

Onex Falcon Acquires Kendrick Electric

On December 1, 2007, mezzanine finance firm Onex Falcon acquired distribution company Kendrick Electric

Acquisition Highlights
  • This is Onex Falcon’s 1st transaction in the Distribution sector.
  • This is Onex Falcon’s 27th transaction in the United States.
  • This is Onex Falcon’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2007-12-01
Target Kendrick Electric
Sector Distribution
Buyer(s) Onex Falcon
Deal Type Buyout (LBO, MBO, MBI)

Target

Kendrick Electric

Apple Valley, Minnesota, United States
Kendrick Electric is a wholesale electrical distributor, primarily focusing on the sale of electrical supplies to commercial contractors in the Chicagoland area. Kendrick Electric distributes products from a number of leading vendors including Siemens, Cutler-Hammer, Southwire, United Copper Industries, and Allied Tube and Conduit. Kendrick Electric is based in Apple Valley, Minnesota.

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Buyer(S) 1

Buyer

Onex Falcon

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Onex Falcon is a mezzanine finance firm that provides junior capital for North American businesses. Falcon looks to provide $30 to $150 million of subordinated debt to companies with EBITDA of at least $10 million. Falcon has no specific industry focus. Investment proceeds are typically used to support LBOs/MBOs, growth and acquisition financings, restructuring, recapitalizations, take privates, and generational ownership transfers. Onex Falcon was formed in 2000 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 27 of 56
Sector (Distribution) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 9 of 16
State (Minnesota) 1 of 2
Country (United States) 27 of 53
Year (2007) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-01 American Institute of Technology

Phoenix, Arizona, United States

American Institute of Technology is a provider of professional truck driver training, including the skills necessary to acquire a commercial driver's license and the knowledge required to have a successful career in truck driving. American Institute of Technology was founded in 1981 and is based in Phoenix, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-11 Horizon Offshore

Houston, Texas, United States

Horizon Offshore, Inc. provides marine construction services to the offshore oil and gas industry around the world. The company performs a wide range of marine construction activities, including laying, burying and repairing marine pipelines; providing hook-up and commissioning services; installing offshore production platforms and other structures; and disassembling and salvaging production platforms and other structures.

Sell $650M
Mergr

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