M&A Deal Summary

Resilience Capital Partners and Tecum Capital Acquire Thermal Product Solutions

On March 3, 2014, private equity firms Resilience Capital Partners and Tecum Capital acquired manufacturer Thermal Product Solutions from SPX Technologies for 43M USD

Acquisition Highlights
  • This is Resilience Capital Partners’ 1st and Tecum Capital’s 4th transaction in the Manufacturing sector.
  • This is Resilience Capital Partners’ and Tecum Capital’s largest (disclosed) transaction.
  • This is Resilience Capital Partners’ 23rd and Tecum Capital’s 20th transaction in the United States.
  • This is Resilience Capital Partners’ 3rd and Tecum Capital’s 12th transaction in Pennsylvania.

M&A Deal Summary

Date 2014-03-03
Target Thermal Product Solutions
Sector Manufacturing
Buyer(s) Resilience Capital Partners
Tecum Capital
Sellers(s) SPX Technologies
Deal Type Divestiture
Deal Value 43M USD

Target

Thermal Product Solutions

New Columbia, Pennsylvania, United States
website
Thermal Product Solutions is a designer and manufacturer of industrial and laboratory ovens and furnaces, and environmental temperature cycling and stability test chambers. Thermal Product Solutions was founded in 2005 and is based in New Columbia, Pennsylvania.

Search 192,611 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 2

Buyer

Resilience Capital Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2001
PE ASSETS 675M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Resilience Capital Partners is a private equity firm focused on investing in lower middle-market underperforming and turnaround situations. Resilience targets non-core divisions or subsidiaries, companies with severe operational issues, businesses suffering from insufficient management focus, and privately held companies with lack of access to capital. Sectors of interest include niche manufacturing, specialty chemicals, and industrial services. Prospective companies are generally located in North America with $25 to $250 million in revenue, and EBITDA typically under $20 million. Resilience Capital Partners was formed in 2001 and is located in Cleveland, Ohio.


DEAL STATS #
Overall 23 of 41
Sector (Manufacturing) 1 of 5
Type (Divestiture) 7 of 8
State (Pennsylvania) 3 of 6
Country (United States) 23 of 40
Year (2014) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-01 Affinity

Jeffersonville, Indiana, United States

Affinity specializes in selling and distributing of occupational apparel and services, including the design, marketing, and distribution of customized and off-the-shelf apparel collections to customers through managed direct purchase uniform programs. Affinity was established in 1898 and is based in Jeffersonville, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-21 Hynes Industries

Youngstown, Ohio, United States

Hynes Industries is a manufacturer of custom and standard rolled formed shapes, slit coil and strip steel products, specialty wire, and flat wire shapes. Hynes was established in 1925 and is based in Youngstown, Ohio.

Buy -
Buyer
DESCRIPTION

Tecum Capital is a private equity firm focused on lower middle-market companies across the Eastern-US. Tecum will consider a variety of investment situations including leveraged buyouts, management buyouts, successions, strategic acquisitions, growth capital financings, and recapitalizations. Investment sizes range from $5 - $20 million. Industries of interest include manufacturing, plastics, specialty distribution, technology, healthcare services, defense, food, and business/consumer services. Tecum will not consider investments in start-ups or real estate. Tecum Capital was formed in 2005 and is based in Wexford, Pennsylvania.


DEAL STATS #
Overall 20 of 73
Sector (Manufacturing) 4 of 9
Type (Divestiture) 2 of 5
State (Pennsylvania) 12 of 24
Country (United States) 20 of 73
Year (2014) 2 of 8
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-29 Uncle Charley s Sausage Company

Vandergrift, Pennsylvania, United States

Uncle Charley's Sausage Company LLC produces and distributes gourmet sausage and meat products to retail markets throughout six states, including Pennsylvania, West Virginia, Ohio, and Maryland. Uncle Charley's Sausage was established in 1988 and is based in Vandergrift, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-07 The Shamrock Companies

Westlake, Ohio, United States

The Shamrock Companies, Inc. is a diversified business process outsourcing company that focuses on a vast array of marketing needs for its clients.

Buy -

Seller(S) 1

SELLER

SPX Technologies

Charlotte, North Carolina, United States

website


Category Company
Founded 1912
Sector Machinery
Employees4,500
Revenue 1.5B USD (2022)
DESCRIPTION
Entrance to SPX's corporate headquarters in Charlotte, North Carolina.
Entrance to SPX's corporate headquarters in Charlotte, North Carolina.

SPX Technologies is a global supplier of highly specialized, engineered solutions for the energy and food/beverage industries. Key products include processing systems and components for the food and beverage industry, pumps, valves and filtration equipment used in oil and gas processing, power transformers used by utility companies, and cooling systems for power generation plants and HVAC applications. SPX Technologies was founded in 1912 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 19 of 23
Sector (Manufacturing) 7 of 7
Type (Divestiture) 19 of 23
State (Pennsylvania) 1 of 1
Country (United States) 15 of 17
Year (2014) 1 of 2
Size (of disclosed) 7 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-06 Service Solutions Segment SPX

Canton, Michigan, United States

SPX's Service Solutions business develops, manufactures, and sells service equipment, repair-shop accessories, and software for the global automotive market.

Sell $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-21 PCX Aerostructures

Newington, Connecticut, United States

PCX Aerostructures is a manufacturer of flight-critical and other essential components for rotorcraft and fixed-wing aerospace platforms serving military and commercial markets. PCX Aerostructures is based in Newington, Connecticut.

Sell $62M