M&A Deal Summary

A111 Capital, NewSpring Capital, Farragut Capital Partners, Pine Street Capital Partners and Salem Investment Partners Acquire Burnyzz

On October 10, 2024, private equity firm A111 Capital, private equity firm NewSpring Capital, mezzanine finance firm Farragut Capital Partners, mezzanine finance firm Pine Street Capital Partners and mezzanine finance firm Salem Investment Partners acquired automotive company Burnyzz

Acquisition Highlights
  • This is A111 Capital’s 1st, NewSpring Capital’s 3rd, Farragut Capital Partners’ 3rd, Pine Street Capital Partners’ 4th and Salem Investment Partners’ 3rd transaction in the Automotive sector.
  • This is A111 Capital’s 3rd, NewSpring Capital’s 195th, Farragut Capital Partners’ 95th, Pine Street Capital Partners’ 41st and Salem Investment Partners’ 58th transaction in the United States.
  • This is A111 Capital’s 3rd, NewSpring Capital’s 9th, Farragut Capital Partners’ 4th, Pine Street Capital Partners’ 4th and Salem Investment Partners’ 5th transaction in Florida.

M&A Deal Summary

Date 2024-10-10
Target Burnyzz
Sector Automotive
Buyer(s) A111 Capital
NewSpring Capital
Farragut Capital Partners
Pine Street Capital Partners
Salem Investment Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Burnyzz

Ocala, Florida, United States
Burnyzz is a specialized automotive services business focused on the restoration/build, sale, and service of classic and iconic cars, as well as heavy-duty trucks and trailers. It offers fully custom restoration and modernization services, in which the Company takes the body of a classic car and outfits the vehicle with entirely new parts providing modernized comfort and capabilities. Burnyzz was founded in 2010 and is based in Ocala, Florida.

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Buyer(S) 5

DESCRIPTION

A111 is a private investment firm that looks to partner with Founders seeking to partially or fully exit their businesses. The Firm targets lower middle-market opportunities and doesn't have any stated sector preferences. A111 was established in 2019 and is headquartered in Tampa, Florida.


DEAL STATS #
Overall 3 of 3
Sector (Automotive) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 3 of 3
State (Florida) 3 of 3
Country (United States) 3 of 3
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-27 MacroCap Labs

Longwood, Florida, United States

MacroCap Labs is a value-added contract manufacturer of both nutraceutical products (e.g., protein powders, pre-workout powders and other dietary supplements) and sports nutrition-themed beverage products. The Company offers a full suite of services, including R&D services (e.g., product flavoring and formulation), packaging, graphic design/artwork, product manufacturing and warehousing/logistics services. MacroCap Labs is based in Longwood, Florida.

Buy -
Buyer

NewSpring Capital

Radnor, Pennsylvania, United States

Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.


DEAL STATS #
Overall 199 of 201
Sector (Automotive) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 43 of 44
State (Florida) 9 of 9
Country (United States) 195 of 197
Year (2024) 8 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-08 C Speed

Liverpool, New York, United States

C Speed is a provider of advanced radar systems and engineering solutions for both civilian and military applications. The company specializes in the design, prototyping, and manufacturing of state-of-the-art radar systems, with a particular focus on radar receivers, exciters, and signal processors. C Speed is based in Liverpool, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-15 Xpect Solutions

Fairfax, Virginia, United States

Xpect Solutions is a provider of cutting-edge enterprise IT and security solutions to the Federal Bureau of Investigations (FBI), Department of Justice (DOJ), and the National Institutes of Health (NIH) agencies. Xpect Solutions is based in Fairfax, Virginia.

Buy -
Buyer

Farragut Capital Partners

Chevy Chase, Maryland, United States


Category Mezzanine Finance Firm
Founded 2011
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Farragut Capital Partners LLC is a private investment firm that provides mezzanine and equity capital to help finance buyouts, generational transfers, growth capital financings, and recapitalizations. The Firm prefers asset-light businesses with unique and defensible market positions, stable business models, and reasonable capital expenditure and working capital needs. Sectors of interest include light and niche manufacturing, business services, distribution & logistics, and media. Farragut's target investment size is $2 to $10 million. Farragut Capital Partners was formed in 2011 and is based in Washington, District of Columbia.


DEAL STATS #
Overall 95 of 98
Sector (Automotive) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 39 of 41
State (Florida) 4 of 4
Country (United States) 95 of 98
Year (2024) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-26 NEMA Enclosures

Houston, Texas, United States

NEMA Enclosures is a manufacturer and distributer of custom metal enclosures designed for critical electrical components. NEMA Enclosures was founded in 1987 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-14 SPG

Atlanta, Georgia, United States

SPG manufactures and supplies commercial-grade, steel, stainless steel, and aluminum materials handling and storage products used in a variety of end-markets including industrial distribution, food service, and grocery and convenience stores. It primarily sells to the domestic locations of leading industrial distributors, quick-service restaurant brands and franchisees, big box retailers, and convenience stores, working directly with customers to engineer custom storage and material handling solutions. SPG was founded in 2010 and is based in Atlanta, Georgia.

Buy -
Buyer

Pine Street Capital Partners

Albany, New York, United States


Category Mezzanine Finance Firm
Founded 2004
PE ASSETS 425M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Pine Street Capital Partners (PSCP) provides mezzanine capital to small and medium-sized private and public companies. PSCP will consider investments from $3 to $15 million in companies generating at least $10 million of sales. Target sectors include manufacturing, business services, consumer products, healthcare and media. PSCP prefers investments in the Northeast and Mid-Atlantic regions of the US, but will consider opportunities nationwide. Investment funds are typically used to support strategic acquisitions, growth, management and employee buyouts, and leveraged recapitalization. PSCP will not invest in the real estate, biotech and oil & gas industries. Pine Street Capital Partners was formed in 2004 and is based in Albany, New York.


DEAL STATS #
Overall 41 of 41
Sector (Automotive) 4 of 4
Type (Buyout (LBO, MBO, MBI)) 16 of 16
State (Florida) 4 of 4
Country (United States) 41 of 41
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-07 Verdantas

Dublin, Ohio, United States

Verdantas provides engineering, science, & planning consultants dedicated to making the world a better place for ourselves and future generations. Verdantas was founded in 2020 and is based in Dublin, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-08 DeIorio Foods

Utica, New York, United States

DeIorio Foods is a manufacturer of specialty frozen dough for the pizza industry. DeIorio Foods was founded in 1924 and is based in Utica, New York.

Sell -
DESCRIPTION

Salem Investment Partners specializes in debt and equity investments in privately-held, middle-market businesses across the Southeast and Mid-Atlantic regions of the US. Salem looks to invest $2 to $10 million per transaction to help support growth, acquisitions, recapitalizations, and buyouts. Sectors of interest include business services, light manufacturing, consumer products, and distribution. Salem Investment Partners was formed in 1999 and is based in Greensboro, North Carolina.


DEAL STATS #
Overall 58 of 58
Sector (Automotive) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 41 of 41
State (Florida) 5 of 5
Country (United States) 58 of 58
Year (2024) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-16 US Tarp

South Haven, Michigan, United States

US Tarp is a designer, manufacturer, and distributor of load containment and cargo protection tarping systems, controls, and tarps for commercial vehicle applications. US Tarp was established in 2001 and is based in South Haven, Michigan.

Sell -