Stellex Capital Management Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Stellex Capital Management has acquired 5 companies. It has also invested in 1 other.

Stellex Capital Management’s most common sectors for investment are machinery (20%) and manufacturing (20%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (40%) and growth capital (20%). In total, Stellex Capital Management has invested in 5 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 Activity11
    • M&A Buy Activity10
    • M&A Sell Activity1
  • Total Sectors Invested 8
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 4
  • 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 ≤ '16 '17 '18 '19 '20 '21 T
Buy (1.2/yr) # 4 - 3 2 1 - 10
vol $10M $10M
Sell (0.2/yr) # - - - 1 - - 1
vol $352M $352M
  11

Most Recent M&A

Company Date Value Type
Officine Maccaferri SpA 2020-12-03 10M EUR Buyout (LBO, MBO, MBI)
Zola Predosa, Italy · www.maccaferri.com
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
Fenix Parts, Inc. 2018-04-18 - Going Private
Hurst, Texas · www.fenixparts.com
Dominion Hospitality LLC 2016-11-01 - Consolidation
Attleborough, United Kingdom · www.dominionhospitality.co.uk
Morbark LLC 2016-03-21 - Growth Capital
Winn, Michigan · www.morbark.com
MHI Holdings LLC 2015-11-02 - Buyout (LBO, MBO, MBI)
Norfolk, Virginia · www.mhi-shiprepair.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 2
Hurst, Texas · www.fenixparts.com Gainesville, Georgia
Custom Glass Solutions LLC 2018-10-22 NASG Holdings, Inc. 2019-05-06 1
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 1
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
Machinery 1 (11%) - 2 (20%) -
Manufacturing 2 (22%) - 2 (20%) -
Engineering 1 (11%) 10M (100%) 1 (10%) 10M (100%)
Automotive 1 (11%) - 1 (10%) -
Leisure 1 (11%) - 1 (10%) -
Marine 1 (11%) - 1 (10%) -
Oil/Gas Exploration 1 (11%) - 1 (10%) -
Transportation 1 (11%) - 1 (10%) -
Total 9 $10M 10 $10M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 7 (78%) - 8 (80%) -
  Texas 3 (33%) - 3 (30%) -
  Michigan 1 (11%) - 2 (20%) -
  Virginia 1 (11%) - 1 (10%) -
  Ohio 1 (11%) - 1 (10%) -
  Indiana 1 (11%) - 1 (10%) -
Italy 1 (11%) 10M (100%) 1 (10%) 10M (100%)
United Kingdom 1 (11%) - 1 (10%) -
Total 9 $10M 10 $10M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 4 (44%) 10M (100%) 4 (40%) 10M (100%)
Growth Capital 1 (11%) - 2 (20%) -
Consolidation 1 (11%) - 1 (10%) -
Divestiture 1 (11%) - 1 (10%) -
Going Private 1 (11%) - 1 (10%) -
Secondary Buyout 1 (11%) - 1 (10%) -
Total 9 $10M 10 $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
Deloitte
 1
Oppenheimer & Co.
 1
Legal Deals
Milbank, Tweed, Hadley & McCloy LLP
 2
K&L Gates LLP
 2
Kirkland & Ellis 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)
10%
1 (10%)
Strategic(s)
10%
1 (10%)
Exited to
Strategic(s)
100%
1 (100%)

Investor Summary

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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