Spring Capital Partners Mergers and Acquisitions Summary

Mezzanine Finance Firm Profile

In the last 3 years, Spring Capital Partners has acquired 1 company.

Spring Capital Partners’ most common sectors for investment arebusiness services (17%) and aerospace (11%) . The Firm’s most common investment types include growth capital (36%) and recapitalization (22%). In total, Spring Capital Partners has invested in 19 US states.

In the last 3 years, Spring Capital Partners has exited 6 companies. The Firm’s most common exit type is trade sale (73%). 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 Activity59
    • M&A Buy Activity37
    • M&A Sell Activity22
  • Total Sectors Invested 23
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 57
  • 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 ≤ '16 '17 '18 '19 '20 '21 T
Buy (0.6/yr) # 34 2 - 1 - - 37
Sell (1.4/yr) # 15 1 3 1 1 1 22
vol $63M $458M $521M
  59

Most Recent M&A

Company Date Value Type
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
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
Rock-It Cargo LLC 2018-07-31 - Secondary Buyout
Lititz, Pennsylvania · www.rockitcargo.com
Quantum Global Technologies LLC 2018-07-24 400M USD Add-on Acquisition
Dublin, Pennsylvania · www.quantumclean.com
HMS Productions, Inc. 2017-10-02 - Recapitalization
New York, New York · www.hmsproductions.nyc
Employee Relations Associates, Inc. 2017-03-16 - Growth Capital
Charlotte, North Carolina · www.er-select.com
Rita's Franchise Co. LLC 2017-01-03 - Secondary Buyout
Trevose, Pennsylvania · www.ritasice.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
First Source LLC 2011-06-29 Wythe-Will Distributing LLC 2011-06-29 3
Tonawanda, New York · www.first-source.com Toano, Virginia

M&A by Sector

Sector Current # Value All-time # Value
Business Services 2 (14%) - 6 (16%) -
Aerospace - - 4 (11%) -
Internet Software and Services 2 (14%) - 3 (8%) -
Energy Services and Equipment 2 (14%) - 2 (5%) -
Manufacturing - - 2 (5%) -
Medical Products 2 (14%) - 2 (5%) -
Retail 1 (7%) - 2 (5%) -
Airlines - - 1 (3%) -
Apparel/Textiles 1 (7%) - 1 (3%) -
Communications - - 1 (3%) -
Consumer Services 1 (7%) - 1 (3%) -
Digital Media - - 1 (3%) -
Food 1 (7%) - 1 (3%) -
Franchising - - 1 (3%) -
Healthcare Services - - 1 (3%) -
Information Services - - 1 (3%) -
Information Technology 1 (7%) - 1 (3%) -
Life Science - - 1 (3%) -
Media - - 1 (3%) -
Plastics - - 1 (3%) -
Software - - 1 (3%) -
Staffing 1 (7%) - 1 (3%) -
Transportation - - 1 (3%) -
Total 14 - 37 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 14 (100%) - 37 (100%) -
  Pennsylvania - - 7 (19%) -
  New York 3 (21%) - 4 (11%) -
  Virginia 2 (14%) - 4 (11%) -
  Florida 1 (7%) - 3 (8%) -
  Ohio 1 (7%) - 2 (5%) -
  North Carolina 1 (7%) - 2 (5%) -
  Massachusetts 1 (7%) - 2 (5%) -
  New Hampshire - - 2 (5%) -
  South Carolina 1 (7%) - 1 (3%) -
  New Jersey 1 (7%) - 1 (3%) -
  Maryland 1 (7%) - 1 (3%) -
  Louisiana 1 (7%) - 1 (3%) -
  Georgia 1 (7%) - 1 (3%) -
  Texas - - 1 (3%) -
  Tennessee - - 1 (3%) -
  Oklahoma - - 1 (3%) -
  Michigan - - 1 (3%) -
  Connecticut - - 1 (3%) -
  Arkansas - - 1 (3%) -
Total 14 - 37 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 5 (36%) - 13 (35%) -
Recapitalization 6 (43%) - 8 (22%) -
Buyout (LBO, MBO, MBI) 1 (7%) - 7 (19%) -
Venture - - 4 (11%) -
Acquisition Financing 1 (7%) - 2 (5%) -
Consolidation 1 (7%) - 1 (3%) -
Divestiture - - 1 (3%) -
Secondary Buyout - - 1 (3%) -
Total 14 - 37 -

Exits by Deal Type

Type Total # Value
Trade Sale 10 (45%) 58M (11%)
Trade Sale - Public Company 6 (27%) 463M (89%)
Secondary Sale 5 (23%) -
IPO 1 (5%) -
Total 22 $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)
23%
5 (23%)
Strategic(s)
73%
16 (73%)

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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