M&A Deal Summary

Sentinel Capital Partners and Audax Private Debt Acquire RegO

On August 16, 2010, private equity firm Sentinel Capital Partners and mezzanine finance firm Audax Private Debt acquired manufacturer RegO

Acquisition Highlights
  • This is Sentinel Capital Partners’ 2nd and Audax Private Debt’s 5th transaction in the Manufacturing sector.
  • This is Sentinel Capital Partners’ 32nd and Audax Private Debt’s 34th transaction in the United States.
  • This is Sentinel Capital Partners’ 1st and Audax Private Debt’s 2nd transaction in North Carolina.
Investment Fate
  • RegO was sold to a consortium of financial buyers in 2013.
  • RegO was sold to a publicly-traded strategic buyer in 2021.

M&A Deal Summary

Date 2010-08-16
Target RegO
Sector Manufacturing
Buyer(s) Sentinel Capital Partners
Audax Private Debt
Deal Type Buyout (LBO, MBO, MBI)

Target

RegO

Elon, North Carolina, United States
RegO is a designer and manufactures a comprehensive range of flow control valves and regulators that are sold to domestic and international markets under the RegO and Goddard brand names. RegO was formed in 1908 and is based in Elon, North Carolina.

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Buyer(S) 2

Buyer

Sentinel Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 11.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Sentinel Capital Partners is a private equity firm that targets investments in middle-market companies with strong management and 'attractive growth prospects'. Sentinel looks to invest up to $400 million of equity in companies generating EBITDA of up to $65 million. Sectors of interest include business services/outsourcing, consumer products and services, food and restaurants, franchising, and manufacturing. Prospective transaction situations include management buyouts, recapitalizations, corporate divestitures, take-privates, and growth capital financings. Sentinel Capital Partners was formed in 1995 and is based in New York, New York.


DEAL STATS #
Overall 36 of 99
Sector: Manufacturing M&A 2 of 6
Type: Buyout (LBO, MBO, MBI) M&A Deals 17 of 28
State: North Carolina M&A 1 of 2
Country: United States M&A 32 of 91
Year: 2010 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-04 Massage Envy

Scottsdale, Arizona, United States

Massage Envy is a franchisor of therapeutic massage services. Massage Envy offers professional and affordable therapeutic massage services to consumers with busy lifestyles, offering convenience, high quality, and excellent value. Massage Envy was founded in 2002 and is based in Scottsdale, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-23 Careismatic Brands

Chatsworth, California, United States

Careismatic Brands is a designer, marketer, and distributor of high-quality uniforms, footwear and accessories to retailers. The company manufactures products through multiple brands. Careismatic Brands was founded in 1995 and is based in Chatsworth, California.

Sell -
Buyer

Audax Private Debt

New York, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 5.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Mezzanine is the mezzanine finance arm of the Audax Group. The Firm focuses on investing in both private and public, US-based middle market companies with a strong history of cash flows and consistent revenue growth. Audax will consider subordinated mezzanine debt commitments, second lien or junior secured debt, preferred stock and common stock. The Firm seeks to invest in companies with EBITDA between $10 and $100 million. Types of transaction include MBOs, LBOs, growth capital financings, acquisition financings, and recapitalizations. Audax Private Debt is based in New York, New York.


DEAL STATS #
Overall 35 of 120
Sector: Manufacturing M&A 5 of 5
Type: Buyout (LBO, MBO, MBI) M&A Deals 14 of 27
State: North Carolina M&A 2 of 8
Country: United States M&A 34 of 118
Year: 2010 M&A 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-11 Shoes For Crews

West Palm Beach, Florida, United States

Shoes for Crews is a unique rubber compound to produce slip-resistant footwear, significantly reducing slip-and-fall accidents. Shoes For Crews was founded in 1984 and is based in West Palm Beach, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-04 TSI Group

St. Louis, Missouri, United States

TSI Group, Inc. is a manufacturer of custom-engineered thermal management and electronic component and systems solutions predominantly to defense and aerospace customers. TSI Group is based in St. Louis, Missouri.

Sell $310M