M&A Deal Summary

TJC and NewCastle Partners Acquire PBT Brands

On August 5, 1999, private equity firms TJC and NewCastle Partners acquired automotive company PBT Brands

Acquisition Highlights
  • This is TJC’s 1st and NewCastle Partners’ 1st transaction in the Automotive sector.
  • This is TJC’s 6th and NewCastle Partners’ 7th transaction in the United States.
  • This is TJC’s 1st and NewCastle Partners’ 1st transaction in Connecticut.
Investment Fate
  • PBT Brands was sold to a publicly-traded strategic buyer in 2004.

M&A Deal Summary

Date 1999-08-05
Target PBT Brands
Sector Automotive
Buyer(s) TJC
NewCastle Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

PBT Brands

Hartford, Connecticut, United States
PBT Brands, Inc. is an automotive maintenance and repair chemical products and aircraft sealant products.

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Buyer(S) 2

Buyer

TJC

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 14.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TJC is a private investment firm that specializes in acquiring North American middle-market businesses operating in basic industries. TJC specifically looks to provide liquidity for shareholders, raise capital for corporate growth and 'create significant equity opportunities for key management'. TJC will consider opportunities valued from $100 million to $2 billion in a wide variety of industries. Sectors of interest include aerospace/defense, automotive, building products, chemicals, consumer products, distribution, energy, financial services, healthcare, industrial products, insurance, metals, packaging, retail, transportation/logistics, and telecom. TJC was formerly known as The Jordan Company. The Firm was formed in 1982 and is based in New York City.


DEAL STATS #
Overall 6 of 96
Sector: Automotive M&A 1 of 5
Type: Buyout (LBO, MBO, MBI) M&A Deals 4 of 32
State: Connecticut M&A 1 of 3
Country: United States M&A 6 of 92
Year: 1999 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-02-16 Personna American Safety Razor Co.

Cedar Knolls, New Jersey, United States

Personna American Safety Razor Company has manufacturing facilities located around the world and is one of the largest producers of shaving, medical, and industrial blades.Personna American Safety Razor Company is committed to QUALITY and makes every effort to ensure that its products meet the highest international standards for safety and quality.

Sell $173M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-12-14 Jordan Telecommunications Products

Deerfield, Illinois, United States

Jordan Telecommunications Products, Inc. is a manufacturer of telecommunication equipment and supplies.

Sell $440M
Buyer

NewCastle Partners

Greenwich, Connecticut, United States

Investor


Category Private Equity Firm
Founded 2001
Size Small
Type Sector Focused
DESCRIPTION

NewCastle Partners is an independent investment firm focused on acquiring smaller middle-market companies in partnership with management. The Firm targets profitable, US-based businesses with defensible market positions. Prospective companies generally have at least $2 million in EBITDA and generate sales of $10 to $50 million. Sectors of interest include niche manufacturing and specialty distribution. Target transactions include recapitalizations, buyouts, growth capital financings, and consolidations. NewCastle was formed in 2001 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 7 of 13
Sector: Automotive M&A 1 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 3 of 7
State: Connecticut M&A 1 of 1
Country: United States M&A 7 of 13
Year: 1999 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-01-18 The Home Decor Company

Austin, Texas, United States

The Home Decor Company operates state-of-the-art manufacturing facilities in Germany and the U.S. and maintains strong relationships with leading Asian manufacturers across its home décor offerings. The Home Decor Company was formed in 1979 and is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-01-01 LePage s

Romulus, Michigan, United States

LePage's, Inc. is a manufacturer of consumer pressure sensitive tape sold under private label. LePage’s also sells pressure sensitive tape under the “LePage’s” label, specialty tapes, adhesives and cements.

Sell -