M&A Deal Summary

3 Rivers Capital and Aldine Capital Partners Acquire Interlight

On August 6, 2019, private equity firm 3 Rivers Capital and mezzanine finance firm Aldine Capital Partners acquired distribution company Interlight

Acquisition Highlights
  • This is 3 Rivers Capital’s 1st and Aldine Capital Partners’ 2nd transaction in the Distribution sector.
  • This is 3 Rivers Capital’s 10th and Aldine Capital Partners’ 41st transaction in the United States.
  • This is 3 Rivers Capital’s 1st and Aldine Capital Partners’ 3rd transaction in Indiana.

M&A Deal Summary
Date 2019-08-06
Target Interlight
Sector Distribution
Buyer(s) 3 Rivers Capital
Aldine Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Interlight

Hammond, Indiana, United States
Interlight is an online distributor of specialty lighting products and other replacement, consumable parts. Interlight utilizes its technology platform to leverage data and simplify the process of purchasing replacement products. Interlight was founded in 1992 and is based in Hammond, Indiana.

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Buyer(S) 2

Buyer

3 Rivers Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

3 Rivers Capital is a private equity firm focused on recapitalizations and buyouts of smaller companies located in the Eastern to Mountain West regions of the US. The Firm generally targets businesses with revenues up to $50 million and EBITDA up to $10 million. Target sectors include niche manufacturing, business services, healthcare, and energy. 3 Rivers prefers businesses with high barriers to entry, strong management, and operating in defensible markets. 3 Rivers was formed in 2005 and is based in Pittsburgh, Pennsylvania.

DEAL STATS #
Overall 10 of 15
Sector (Distribution) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 7 of 10
State (Indiana) 1 of 1
Country (United States) 10 of 15
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-13 Phoenix Physical Therapy

Cranberry Township, Pennsylvania, United States

Phoenix Physical Therapy is a provider of physical and occupational therapy services throughout Pennsylvania, including sports rehabilitation, orthopedic rehabilitation, home health physical therapy, and occupational health services. Phoenix Physical Therapy was founded in 1997 and is based in Cranberry Township, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-20 Aptus

Charlotte, North Carolina, United States

Aptus is a turnkey utility infrastructure services business, providing inspection, engineering, installation, and maintenance services for bridge-attached utilities, primarily water drainage systems, and conduit piping. Additionally, the company provides inspection, protection, and remediation services for above-ground gas lines. Aptus’ customers include power utilities, telecommunications, natural gas providers, and general contractors for Departments of Transportation, predominately in the eastern half of the United States. Aptus was founded in 2005 and is based in Charlotte, North Carolina.

Buy -
Buyer

Aldine Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Aldine Capital Partners is a mezzanine investment firm that provides mezzanine and junior capital financing to lower middle-market companies generating sales of at least $10 million and at least $2 million in EBITDA. Aldine invests in the range of $4 to $25 million per transaction. Types of transactions include management buyouts, acquisition financings, shareholder liquidity events, recapitalizations, and growth financings of smaller middle-market companies. Aldine will consider investments across the United States, but has a primary focus on opportunities in the Midwest. The Firm will not consider investments in start-ups, turnarounds, real estate, insurance, banking, and oil/gas. Aldine Capital was formed in 2005 and is based in Chicago, Illinois.

DEAL STATS #
Overall 41 of 70
Sector (Distribution) 2 of 5
Type (Buyout (LBO, MBO, MBI)) 20 of 25
State (Indiana) 3 of 4
Country (United States) 41 of 70
Year (2019) 5 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-16 Secure Personal Care Products

South San Francisco, California, United States

Secure Personal Care Products is a manufacturer and marketer of incontinence products to large medical distributors, assisted living facilities and regional distributors. The company distributes its products under the name “Total Dry” and they are widely viewed as some of the highest quality products in the U.S. The Total Dry product lineup includes bladder control pads, protective underwear, briefs and underpads designed for cost-effective solutions to the adult incontinence market. Secure Personal Care Products is based in South San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-12 Atlantic Southern Paving and Sealcoating

Sunrise, Florida, United States

Atlantic Southern Paving and Sealcoating is a pavement maintenance and construction services, provider. Atlantic Southern Paving and Sealcoating provide outsourced pavement maintenance planning and repair, maintenance, and construction services. Atlantic Southern Paving and Sealcoating was founded in 1992 and is based in Sunrise, Florida.

Buy -
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