M&A Deal Summary

Prospect Partners Acquires Pipp

On March 1, 2005, private equity firm Prospect Partners acquired manufacturer Pipp

Acquisition Highlights
  • This is Prospect Partners’ 2nd transaction in the Manufacturing sector.
  • This is Prospect Partners’ 22nd transaction in the United States.
  • This is Prospect Partners’ 1st transaction in Michigan.
Investment Fate
  • Pipp was sold to a consortium of financial buyers in 2012.

M&A Deal Summary
Date 2005-03-01
Target Pipp
Sector Manufacturing
Buyer(s) Prospect Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Pipp

Walker, Michigan, United States
Pipp is a manufacturer of space-saving storage systems for retail stores, offices, companies, and institutions worldwide. Pipp was founded in 1981 and is based in Walker, Michigan.

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Buyer(S) 1

Buyer

Prospect Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 470M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Partners, LLC is a lower middle-market private equity firm that focuses on management buyouts and recapitalization of small companies. Prospect looks to invest $2 to $30 million of equity capital in companies with revenues of $15 to $100 million and EBITDA up to $10 million. The Firm targets opportunities in a variety of sectors spanning many sub-sectors of manufacturing, specialty distribution, and service. Transactions of interest include leverage recapitalizations, industry consolidations, corporate orphans, generational sales, under-managed companies, and backing independent equity sponsors. Prospect Partners was formed in 1998 and is based in Chicago, Illinois.

DEAL STATS #
Overall 22 of 57
Sector (Manufacturing) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 12 of 19
State (Michigan) 1 of 2
Country (United States) 22 of 57
Year (2005) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-19 Superior Tool

Cleveland, Ohio, United States

Superior Tool Co. is a manufacturer and distributor of a complete range of consumer and professional pipe working and specialty plumbing tools sold nationwide through multiple distribution channels, including home center, hardware and catalog retailers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-02 Codel Entry Systems

Tacoma, Washington, United States

Codel Entry Systems, Inc. is a fabricator, assembler, marketer and distributor of pre-hung steel and fiberglas entry door systems and related accessories for residential homes. Company which specializes in custom and pre-hung steel and fiberglass doors, has become a regional leader in residential entry door systems in the new construction and remodeling market segments. Codel's customers include door shops, home improvement retailers, and lumber yards, which in turn service builders, contractors, and developers.

Buy -
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