Spring Capital Partners Mergers and Acquisitions Summary

Mezzanine Finance Firm Profile

In the last 3 years, Spring Capital Partners has acquired 2 companies. It has also invested in 1 other.

Spring Capital Partners’ most common sectors for investment arebusiness services (16%) and aerospace (11%) . The Firm’s most common investment types include growth capital (36%) and recapitalization (24%). In total, Spring Capital Partners has invested in 20 US states.

In the last 3 years, Spring Capital Partners has exited 5 companies. The Firm’s most common exit type is trade sale (71%). Spring Capital Partners’ largest (disclosed) exit occurred in 2018 when it sold Quantum Global Technologies for $400M.

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M&A Summary

  • M&A Total Activity63
    • M&A Buy Activity39
    • M&A Sell Activity24
  • Total Sectors Invested 27
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 64
  • M&A Advisors 1

Spring Capital Partners

The Foxleigh Building, Suite 340, 2330 W. Joppa Road,
Lutherville, Maryland 21093
United States
(410) 685-8000
www.springcap.com
mfd@springcap.com

Spring Capital Partners is a mezzanine finance provider for small to medium-sized businesses. Spring invests $2 to $12 million, primarily in the form of subordinated debt with equity features in each transaction. The Firm does not have an industry focus. Spring Capital looks for businesses located in the Mid-Atlantic US with revenues between $10 and $150 million. Spring Capital Partners was formed in 1999 and has offices in Baltimore, Maryland and Radnor, Pennsylvania.


Investment Criteria

Sectors of Interest: Aerospace, Airlines, Apparel/Textiles, Building Materials, Business Services, Communications, Consumer Products, Consumer Services, Digital Media, Distribution, Education, Energy Services and Equipment, Financial Services, Food, Franchising, Healthcare Services, Information Services, Information Technology, Internet Software and Services, Life Science, Manufacturing, Marketing, Media, Medical Products, Packaging, Plastics, Retail, Software, Staffing, Technology Hardware, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Secondary Buyout

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue 10 150
Target EBITDA - -
Investment Size 2 12
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (0.6/yr) # 36 - 1 - 1 1 39
Sell (1.6/yr) # 16 3 1 2 2 - 24
vol $63M $458M $521M
  63

Most Recent M&A

Company Date Value Type
Catalina Finer Foods LLC 2022-03-07 - Growth Capital
Tampa, Florida · www.catalinafoods.com
Green Cloud Defense 2021-10-05 - Add-on Acquisition
Greenville, South Carolina · www.greenclouddefense.com
PirTano Construction Co., Inc. 2021-08-24 - Recapitalization
Addison, Illinois · www.pirtano.com
V12 Data 2021-01-21 - Add-on Acquisition
Wesley Chapel, Florida · www.v12data.com
Cybera, Inc. 2020-12-08 - Add-on Acquisition
Franklin, Tennessee · www.cybera.com
Altus Receivables Management, Inc. 2020-04-15 - Unknown
Kenner, Louisiana · www.trustaltus.com
Numet Machining Techniques, Inc. 2019-11-12 - Add-on Acquisition
Orange, Connecticut · www.numet.net
Leahy Landscaping, Inc. 2019-07-01 - Recapitalization
Lynn, Massachusetts · www.leahylandscaping.com
MP Pumps, Inc. 2018-12-13 58M USD Add-on Acquisition
Fraser, Michigan · www.mppumps.com
Global Critical Logistics 2018-07-31 - Secondary Buyout
Lititz, Pennsylvania · www.gcl.global
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Business Services 1 (8%) - 6 (15%) -
Aerospace - - 4 (10%) -
Internet Software and Services 1 (8%) - 3 (8%) -
Medical Products 2 (15%) - 2 (5%) -
Retail 1 (8%) - 2 (5%) -
Airlines - - 1 (3%) -
Apparel/Textiles 1 (8%) - 1 (3%) -
Communications - - 1 (3%) -
Construction 1 (8%) - 1 (3%) -
Consumer Services 1 (8%) - 1 (3%) -
Digital Media - - 1 (3%) -
Distribution - - 1 (3%) -
Electrical Equipment 1 (8%) - 1 (3%) -
Energy Services and Equipment 1 (8%) - 1 (3%) -
Food 1 (8%) - 1 (3%) -
Franchising - - 1 (3%) -
Healthcare Services - - 1 (3%) -
Information Services - - 1 (3%) -
Information Technology 1 (8%) - 1 (3%) -
Life Science - - 1 (3%) -
Manufacturing - - 1 (3%) -
Media - - 1 (3%) -
Packaging - - 1 (3%) -
Plastics - - 1 (3%) -
Software - - 1 (3%) -
Staffing 1 (8%) - 1 (3%) -
Transportation - - 1 (3%) -
Total 13 - 39 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 13 (100%) - 39 (100%) -
  Pennsylvania - - 7 (18%) -
  Florida 2 (15%) - 4 (10%) -
  Virginia 2 (15%) - 4 (10%) -
  New York 2 (15%) - 4 (10%) -
  Ohio 1 (8%) - 2 (5%) -
  North Carolina 1 (8%) - 2 (5%) -
  Massachusetts 1 (8%) - 2 (5%) -
  New Hampshire - - 2 (5%) -
  Illinois 1 (8%) - 1 (3%) -
  Georgia 1 (8%) - 1 (3%) -
  New Jersey 1 (8%) - 1 (3%) -
  Maryland 1 (8%) - 1 (3%) -
  Connecticut - - 1 (3%) -
  Arkansas - - 1 (3%) -
  Texas - - 1 (3%) -
  Tennessee - - 1 (3%) -
  South Carolina - - 1 (3%) -
  Oklahoma - - 1 (3%) -
  Michigan - - 1 (3%) -
  Louisiana - - 1 (3%) -
Total 13 - 39 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 5 (38%) - 14 (36%) -
Recapitalization 7 (54%) - 9 (23%) -
Buyout (LBO, MBO, MBI) 1 (8%) - 7 (18%) -
Venture - - 4 (10%) -
Acquisition Financing - - 2 (5%) -
Consolidation - - 1 (3%) -
Divestiture - - 1 (3%) -
Secondary Buyout - - 1 (3%) -
Total 13 - 39 -

Exits by Deal Type

Type Total # Value
Trade Sale 11 (46%) 58M (11%)
Trade Sale - Public Company 6 (25%) 463M (89%)
Secondary Sale 5 (21%) -
IPO 1 (4%) -
Unknown 1 (4%) -
Total 24 $521M

Top M&A Advisors

Financial Deals
Stifel, Nicolaus & Co., Inc.
 1

Deal Values

sell # Total
$100M to $1B 1 $400M
< $100M 2 $121M
TOTAL $521M
Largest Quantum Global Technologies LLC
$400M (2018-07-24)

M&A Connections

Deals
Acquired from
Investor(s)
3%
1 (3%)
Strategic(s)
3%
1 (3%)
Exited to
Investor(s)
21%
5 (21%)
Strategic(s)
71%
17 (71%)

Investor Summary

Investor Type

Mezzanine Finance Firm

Size

Middle-Market

PE Assets

350M USD

Established

1999

Specialist/Generalist

Generalist

Leadership

Michael Donoghue

Co-Founder & General Partner

Robert Stewart

Co-Founder & General Partner

Brian McDaid

General Partner

John Acker

General Partner

Peter Orthwein, Jr.

General Partner

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