Stellex Capital Management Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Stellex Capital Management has acquired 6 companies. It has also invested in 1 other.

Stellex Capital Management’s most common sectors for investment aremanufacturing (22%) and marine (22%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (29%) and secondary buyout (29%). In total, Stellex Capital Management has invested in 9 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2020 when it acquired Officine Maccaferri for $10M.

In the last 3 years, Stellex Capital Management has exited 1 company. The Firm’s most common exit type is trade sale (100%). Stellex Capital Management’s largest (disclosed) exit occurred in 2019 when it sold Morbark for $352M.

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M&A Summary

  • M&A Total Activity15
    • M&A Buy Activity14
    • M&A Sell Activity1
  • Total Sectors Invested 9
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 5
  • M&A Advisors 6

Stellex Capital Management

900 Third Avenue, 14th Floor,
New York, New York 10022
United States
(212) 710-2323
www.stellexcapital.com
info@stellexcapital.com

Stellex Capital Management is a private equity firm focused on acquiring middle-market companies throughout North America and Europe. Stellex looks to invest $25 to $100 million in transactions valued up to $500 million. Sectors of interest include manufacturing, industrial, business services, aerospace, defense, government services, automotive, consumer products, distribution, and transportation. Prospective transaction situations include buyouts, turnarounds, recapitalizations, corporate divestitures, consolidations, and secondary purchases. Stellex Capital Management was formed in 2014 and is based in New York City.


Investment Criteria

Sectors of Interest: Aerospace, Automotive, Business Services, Consumer Products, Defense, Distribution, Leisure, Machinery, Manufacturing, Marine, Oil/Gas Exploration, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Growth Capital, Recapitalization, Special Situations/Distressed, Secondary Buyout

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Scandinavia

Transaction Criteria Min Max
Target Revenue 100 -
Target EBITDA - -
Investment Size 25 100
Enterprise Value 50 500
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (2.0/yr) # 4 3 3 1 3 - 14
vol $10M $10M
Sell (0.2/yr) # - - 1 - - - 1
vol $352M $352M
  15

Most Recent M&A

Company Date Value Type
IMIA Group Holdings LLC 2021-11-11 - Secondary Buyout
Daphne, Alabama · www.imiallc.com
Custom Made Meals LLC 2021-05-10 - Secondary Buyout
Denver, Colorado · www.custommademeals.com
Komatsu Mining - Conveying Businesses 2021-03-31 - Divestiture
Milwaukee, Wisconsin
Officine Maccaferri SpA 2020-12-03 10M EUR Buyout (LBO, MBO, MBI)
Zola Predosa, Italy · www.maccaferri.com
Vigor Industrial LLC 2019-10-14 - Secondary Buyout
Portland, Oregon · www.vigor.net
Morbark LLC 2019-09-11 352M USD Add-on Acquisition
Winn, Michigan · www.morbark.com
Cisco Industrial Services LLC 2019-02-11 - Growth Capital
Odessa, Texas · www.cisco-equipment.com
Paragon Metals LLC 2019-02-04 - Buyout (LBO, MBO, MBI)
Hillsdale, Michigan · www.paragonmetals.com
Custom Glass Solutions LLC 2018-10-22 - Divestiture
Worthington, Ohio · www.customglasssolutions.com
Grammer Logistics 2018-10-02 - Secondary Buyout
Columbus, Indiana · www.grammerlogistics.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Fenix Parts, Inc. 2018-04-18 Cox Truck and Van, Inc. - Certain Assets 2019-07-16 7
Hurst, Texas · www.fenixparts.com Gainesville, Georgia
Custom Glass Solutions LLC 2018-10-22 NASG Holdings, Inc. 2019-05-06 2
Worthington, Ohio · www.customglasssolutions.com Trumbauersville, Pennsylvania · www.naspecialtyglass.com
Fenix Parts, Inc. 2018-04-18 Fenix Parts, Inc. - Canadian Operations of Recycling & Reselling OEM Automotive Products 2019-03-13 1
Hurst, Texas · www.fenixparts.com Westchester, Illinois
AFG Holdings, Inc. (AFGlobal Corp.) 2012-12-27 Advanced Measurements, Inc. 2017-06-30 2
Houston, Texas · www.afglobalcorp.com Calgary, Alberta · www.advmeas.com
Dominion Hospitality LLC 2016-11-01 Chapman Group 2016-11-03 1
Attleborough, United Kingdom · www.dominionhospitality.co.uk , United Kingdom

M&A by Sector

Sector Current # Value All-time # Value
Manufacturing 3 (23%) - 3 (21%) -
Marine 3 (23%) - 3 (21%) -
Machinery 1 (8%) - 2 (14%) -
Engineering 1 (8%) 10M (100%) 1 (7%) 10M (100%)
Automotive 1 (8%) - 1 (7%) -
Food 1 (8%) - 1 (7%) -
Leisure 1 (8%) - 1 (7%) -
Oil/Gas Exploration 1 (8%) - 1 (7%) -
Transportation 1 (8%) - 1 (7%) -
Total 13 $10M 14 $10M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 11 (85%) - 12 (86%) -
  Texas 3 (23%) - 3 (21%) -
  Michigan 1 (8%) - 2 (14%) -
  Wisconsin 1 (8%) - 1 (7%) -
  Virginia 1 (8%) - 1 (7%) -
  Oregon 1 (8%) - 1 (7%) -
  Ohio 1 (8%) - 1 (7%) -
  Indiana 1 (8%) - 1 (7%) -
  Colorado 1 (8%) - 1 (7%) -
  Alabama 1 (8%) - 1 (7%) -
Italy 1 (8%) 10M (100%) 1 (7%) 10M (100%)
United Kingdom 1 (8%) - 1 (7%) -
Total 13 $10M 14 $10M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 4 (31%) 10M (100%) 4 (29%) 10M (100%)
Secondary Buyout 4 (31%) - 4 (29%) -
Divestiture 2 (15%) - 2 (14%) -
Growth Capital 1 (8%) - 2 (14%) -
Consolidation 1 (8%) - 1 (7%) -
Going Private 1 (8%) - 1 (7%) -
Total 13 $10M 14 $10M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 1 (100%) 352M (100%)
Total 1 $352M

Top M&A Advisors

Financial Deals
Oppenheimer & Co.
 1
Deloitte
 1
Legal Deals
K&L Gates LLP
 2
Milbank, Tweed, Hadley & McCloy LLP
 2
Benesch, Friedlander, Coplan & Aronoff LLP
 1

Deal Values

buy # Total
< $100M 1 $10M
TOTAL $10M
Largest Officine Maccaferri SpA
$10M (2020-12-03)
sell # Total
$100M to $1B 1 $352M
TOTAL $352M
Largest Morbark LLC
$352M (2019-09-11)

M&A Connections

Deals
Acquired from
Investor(s)
29%
4 (29%)
Strategic(s)
14%
2 (14%)
Exited to
Strategic(s)
100%
1 (100%)

Investor Summary

Investor Type

Private Equity Firm

Size

Large

PE Assets

2.6B USD

Established

2014

Specialist/Generalist

Generalist

Leadership

Michael Stewart

Founder & Managing Partner

Ray Whiteman

Founder & Managing Partner

Tony Braddock

CFO

David Waxman

Managing Director

Mark Alter

Managing Director

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