M&A Deal Summary

River Associates and Northstar Capital Acquire Trident Solutions

On February 1, 2019, private equity firm River Associates and mezzanine finance firm Northstar Capital acquired manufacturer Trident Solutions

Acquisition Highlights
  • This is River Associates’ 3rd and Northstar Capital’s 13th transaction in the Manufacturing sector.
  • This is River Associates’ 29th and Northstar Capital’s 88th transaction in the United States.
  • This is River Associates’ 3rd and Northstar Capital’s 5th transaction in Texas.

M&A Deal Summary
Date 2019-02-01
Target Trident Solutions
Sector Manufacturing
Buyer(s) River Associates
Northstar Capital
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Alantra Partners, S.A. - Investment Bank (Financial)

Target

Trident Solutions

Sherman, Texas, United States
Trident Solutions is a manufacturer of commercial marking products and customized vinyl films. Since the company’s inception, it has been creating products for a variety of end markets including the electrical, plumbing, utilities, forestry, surveying and irrigation industries. Trident was established in 1942 and is based in Sherman, Texas.

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Buyer(S) 2

Buyer

River Associates

Chattanooga, Tennessee, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

River Associates is a private equity firm that targets buyouts, divestitures and recapitalizations of lower middle-market companies. River looks for investments in manufacturing, high-margin distribution, industrial services and 'non-faddish' retail companies. The Firm focuses on companies located in the US and Canada with minimum sales of $15 million and EBITDA of $3 to $12 million. River Associates avoids investing in heavily regulated industries as well as start-up, high-technology, commodity or natural resource companies. River Associates was formed in 1989 and is based in Chattanooga, Tennessee.

DEAL STATS #
Overall 30 of 38
Sector (Manufacturing) 3 of 7
Type (Buyout (LBO, MBO, MBI)) 15 of 22
State (Texas) 3 of 4
Country (United States) 29 of 36
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-14 TopDown

North Hollywood, California, United States

TopDown is a designer, manufacturer, and supplier of automotive aftermarket products. TopDown was founded in 1979 and is based in North Hollywood, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-31 JBC Technologies

North Ridgeville, Ohio, United States

JBC Technologies is a full-service engineering, die cutting, and supply chain partner of precision flexible components for a diverse range of end markets. JBC provides die cut and assembled components utilizing over 4,100 flexible material and component combinations, such as foams, foils, rubbers, fabrics, tapes, gaskets, and several others, including some proprietary blends developed in-house. JBC Technologies was founded in 1988 and is based in North Ridgeville, Ohio.

Buy -
Buyer

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 92 of 109
Sector (Manufacturing) 13 of 15
Type (Buyout (LBO, MBO, MBI)) 37 of 43
State (Texas) 5 of 5
Country (United States) 88 of 104
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-01 Frontline Managed Services

Atlanta, Georgia, United States

Frontline Managed Services is a provider of business process outsourcing to the legal and accounting markets. Frontline Managed Services specializes in “white glove” IT help desk support, IT Managed Services (Development, Infrastructure, Engineering, and Legacy Software Support), Managed Financial Services (e-billing processing, accounts receivable management, and cash application), and training and education through its e-learning platform. Frontline Managed Services was founded in 1987 and is based in Atlanta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-03 Mosquito Control Services

Metairie, Louisiana, United States

Mosquito Control Services is a provider of mosquito abatement programs for municipal and commercial clients. Mosquito Control Services is based in Metairie, Louisiana.

Sell -
Mergr

Product

Company

Legal