Investment Summary

Pillsman Partners, Banyan Investment Partners and Pine Street Capital Partners Invest In SST Conveyor Components

On December 22, 2014, private equity firm Pillsman Partners, mezzanine finance firm Banyan Investment Partners and mezzanine finance firm Pine Street Capital Partners invested in manufacturer SST Conveyor Components

Investment Highlights
  • This is Pillsman Partners’ 1st, Banyan Investment Partners’ 3rd and Pine Street Capital Partners’ 3rd transaction in the Manufacturing sector.
  • This is Pillsman Partners’ 2nd, Banyan Investment Partners’ 69th and Pine Street Capital Partners’ 23rd transaction in the United States.
  • This is Pillsman Partners’ 1st, Banyan Investment Partners’ 1st and Pine Street Capital Partners’ 1st transaction in Ohio.
Investment Fate
  • SST Conveyor Components was sold to a consortium of financial buyers in 2022.

Investment Summary

Date 2014-12-22
Target SST Conveyor Components
Sector Manufacturing
Investor(s) Pillsman Partners
Banyan Investment Partners
Pine Street Capital Partners
Deal Type Growth Capital

Target

SST Conveyor Components

Loveland, Ohio, United States
SST Conveyor Components is a designer and manufacturer of specialized conveyor components serving the material handling, distribution, and conveyor systems integration markets. SST Conveyor produces high-quality straight, tapered, grooved, and custom rollers, bearing assemblies, and pulleys tailored to meet the unique requirements of each customer. SST Conveyor Components was founded in 1957 and is based in Loveland, Ohio.

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Investor(S) 3

DESCRIPTION

Pillsman Partners is a private investment firm that specializes in direct investments in established, small to lower-middle market businesses. The Firm focuses on companies with strong organic growth potential and $2 to $15 million of EBITDA. Areas of interest include business services, technology, light manufacturing, chemicals and materials. Pillsman typically acquires a controlling but is flexible in terms of transaction structure. Pillsman Partners was formed in 2011 and is headquartered in Greenwich, Connecticut.


DEAL STATS #
Overall 2 of 5
Sector (Manufacturing) 1 of 2
Type (Growth Capital) 2 of 3
State (Ohio) 1 of 1
Country (United States) 2 of 5
Year (2014) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-14 Squan Solutions

Carlstadt, New Jersey, United States

Squan Solutions is a provider of solutions to the wireless and data networks. Squan Solutions' engineers, project managers, and field staff provide high-quality service to the wireless, wireline, cable, and enterprise markets. Squan Solutions was founded in 2006 and is based in Carlstadt, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-01 Bristol ID Technologies

Lima, New York, United States

Bristol ID Technologies is a niche manufacturer serving most major business sectors, including ID and Security, Gift and Loyalty, and Promotional Products and Print. The Company has a strength in access control utilizing RFID technology for building access, college campus cards, hotel door access, ski lift passes, event management, and parking access. Bristol ID Technologies was founded in 1975 and is based in Lima, New York.

Buy -
Investor

Banyan Investment Partners

Miami, Florida, United States

Investor


Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 550M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Banyan is a specialty finance firm that provides mezzanine capital to smaller middle-market companies headquartered primarily in the Southeast US. Banyan looks to invest $5 to $25 million of junior capital in profitable companies. The Firm does not have any industry preferences, however, Banyan will not invest in real estate development, oil and gas exploration, direct lenders, start-ups or turn-around situations. Banyan Mezzanine was formed in 2002 and is based in Miami, Florida.


DEAL STATS #
Overall 69 of 73
Sector (Manufacturing) 3 of 4
Type (Growth Capital) 4 of 4
State (Ohio) 1 of 1
Country (United States) 69 of 73
Year (2014) 8 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-01 Integrated Aerospace

Lake Stevens, Washington, United States

Integrated Aerospace is a manufacturer of complex, precision turned components ranging from prototypes to production for the aerospace, defense, and medical industries. Integrated Aerospace specializes in precision turned products. Integrated Aerospace is based in Lake Stevens, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Decton Staffing Services

Irvine, California, United States

Decton Staffing Services is a provider of temporary employment services to hospitals, industrial, and construction companies in California. Decton Staffing Services' goal is to provide the most talented, motivated candidates to meet your staffing needs. Decton Staffing Services was founded in 2002 and is based in Irvine, California.

Buy -
Investor

Pine Street Capital Partners

Albany, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2004
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Pine Street Capital Partners (PSCP) provides mezzanine capital to small and medium-sized private and public companies. PSCP will consider investments from $3 to $10 million in companies generating at least $10 million of sales. Target sectors include manufacturing, business services, consumer products, healthcare and media. PSCP prefers investments in the Northeast and Mid-Atlantic regions of the US, but will consider opportunities nationwide. Investment funds are typically used to support strategic acquisitions, growth, management and employee buyouts, and leveraged recapitalization. PSCP will not invest in the real estate, biotech and oil & gas industries. Pine Street Capital Partners was formed in 2004 and is based in Albany, New York.


DEAL STATS #
Overall 23 of 40
Sector (Manufacturing) 3 of 6
Type (Growth Capital) 9 of 12
State (Ohio) 1 of 2
Country (United States) 23 of 40
Year (2014) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-16 Thermacore

Lancaster, Pennsylvania, United States

Thermacore, Inc. is specializes in the design, development and manufacturing of high performance thermal management systems and components for the computer, military, aerospace, energy conversion, medical, and telecommunications markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-10 Summit Sports

Bloomfield Hills, Michigan, United States

Summit Sports, Inc. is a consumer sporting goods retailer, wholesaler, and manufacturer. Summit Sports was founded in 1990 and is based in Bloomfield Hills, Michigan.

Buy -