M&A Deal Summary

Acorn Growth Companies, Congruent Investment Partners, Independent Bankers Capital Fund and Omega Capital Management Acquire Raisbeck Engineering

On September 26, 2016, private equity firm Acorn Growth Companies, private equity firm Congruent Investment Partners, mezzanine finance firm Independent Bankers Capital Fund and private equity firm Omega Capital Management acquired aerospace company Raisbeck Engineering

Acquisition Highlights
  • This is Acorn Growth Companies’ 7th, Congruent Investment Partners’ 1st, Independent Bankers Capital Fund’s 1st and Omega Capital Management’s 1st transaction in the Aerospace sector.
  • This is Acorn Growth Companies’ 8th, Congruent Investment Partners’ 2nd, Independent Bankers Capital Fund’s 21st and Omega Capital Management’s 3rd transaction in the United States.
  • This is Acorn Growth Companies’ 2nd, Congruent Investment Partners’ 1st, Independent Bankers Capital Fund’s 1st and Omega Capital Management’s 1st transaction in Washington.

M&A Deal Summary

Date 2016-09-26
Target Raisbeck Engineering
Sector Aerospace
Buyer(s) Acorn Growth Companies
Congruent Investment Partners
Independent Bankers Capital Fund
Omega Capital Management
Deal Type Buyout (LBO, MBO, MBI)

Target

Raisbeck Engineering

Seattle, Washington, United States
Raisbeck Engineering is a developer, marketer and manufacturer of performance improvement systems for some of the most prolific commercial and general aviation aircraft models in the market today. Raisbeck Engineering was founded in 1982 and is based in Seattle, Washington.

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Buyer(S) 4

DESCRIPTION

Acorn Growth Company is a private equity group focused on aerospace and defense opportunities. Acorn looks specifically for companies engaged in aerospace parts manufacturing, aircraft modification and upgrades, engineering services, logistics, procurement and maintenance, repair, and overhaul. Acorn Growth was established in 2005 and is headquartered in Oklahoma City, Oklahoma.


DEAL STATS #
Overall 9 of 17
Sector (Aerospace) 7 of 10
Type (Buyout (LBO, MBO, MBI)) 9 of 14
State (Washington) 2 of 2
Country (United States) 8 of 14
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-13 Aerospheres

Middlesex, United Kingdom

Aerospheres (UK) Ltd. is a distributor of aerospace aftermarket chemicals, composites and other consumable materials for maintenance applications and MRO service providers. Aerospheres (UK) Ltd. was established in 1991 and is based in Middlesex, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-31 TSS Solutions

West Melbourne, Florida, United States

TSS Solutions provides technical services to Telecommunication and Broadband industries, including but not limited to satellite, wireless, broadband, UHF/VHF/HF, radar technologies, and professional services such as field installation and testing, erecting and commissioning earth stations, broadband headends, wireless, radio, and radar networks. TSS Solutions was founded in 1991 and is based in West Melbourne, Florida.

Buy -
Buyer

Congruent Investment Partners

Dallas, Texas, United States

Category Private Equity Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

Congruent Investment Partners is a private investment firm focused on debt and equity investments in mid-sized US companies. Congruent looks to invest in transactions valued from $5 to $50 million and is an opportunistic investor, willing to consider a variety of assets (oil/gas reserves, commercial real estate). Other areas of interest include software, business services, banking, healthcare, waste, media, food, data centers, and cell towers. Congruent Investment Partners was established in 2009 and is based in Dallas, Texas.


DEAL STATS #
Overall 2 of 4
Sector (Aerospace) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 1
State (Washington) 1 of 1
Country (United States) 2 of 4
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-09 Winzer

Plano, Texas, United States

Winzer is a distributor of fasteners and consumable maintenance supplies. The company serves customers engaged in maintenance, repair, and operations activities across a diverse range of end markets including industrial, automotive, institutional, and government. Winzer has a unique business model, whereby it markets and sells its products through a network of nearly 300 independent, route-based franchisees. Winzer was established in 1978 and is based in Plano, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-30 Winzer

Plano, Texas, United States

Winzer is a distributor of fasteners and consumable maintenance supplies. The company serves customers engaged in maintenance, repair, and operations activities across a diverse range of end markets including industrial, automotive, institutional, and government. Winzer has a unique business model, whereby it markets and sells its products through a network of nearly 300 independent, route-based franchisees. Winzer was established in 1978 and is based in Plano, Texas.

Sell -
Buyer

Independent Bankers Capital Fund

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1998
PE ASSETS 100M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Independent Bankers Capital Fund LP (IBCF) is a private equity partnership that provides equity and junior capital to established lower-middle-market companies primarily in the Southwestern United States. IBC seeks to invest in companies with revenues of $10 to $50 million. Prospective companies are generally profitable with at least $2 million of EBITDA. IBCF targets investments in profitable manufacturing, distribution, or in some cases, service businesses. The Firm looks to invest in the range of $3 to $12 million per transaction. The Group prefers financing change of control, recapitalization and later-stage growth capital needs. IBCF was formed in 1998 and is based in Dallas, Texas.


DEAL STATS #
Overall 21 of 25
Sector (Aerospace) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 10 of 11
State (Washington) 1 of 1
Country (United States) 21 of 25
Year (2016) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-02 The Finial

Dallas, Texas, United States

The Finial Co. is a manufacturer of decorative drapery hardware. The Company produces high-end hardware in wood, resin, and steel that is sold through distributors throughout the United States. The Finial was founded in 1996 and is based in Dallas, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-06 PMA Industries

Phoenix, Arizona, United States

PMA Industries is a designer and manufacturer of private-label and branded chemically-etched metal crafting dies for a spectrum of crafting suppliers and end consumers. PMA Industries was founded in 1982 and is based in Phoenix, Arizona.

Buy -
Buyer
DESCRIPTION

Omega Capital Management LLC is a private equity firm focused on lower middle-market companies in Oklahoma and surrounding states. The Firm looks to invest in businesses generating sales greater than $5 million. Omega Capital pursues a variety of transaction types, including management buyouts, recapitalizations, acquisition financings, and growth financings. Omega Capital was founded in 2013 and is based in Tulsa, Oklahoma.


DEAL STATS #
Overall 3 of 3
Sector (Aerospace) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 2 of 2
State (Washington) 1 of 1
Country (United States) 3 of 3
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-14 M&M Environmental Oilfield Services

Conway, Arkansas, United States

M&M Environmental is a environmental solutions provider to the oil and gas industry in the Mid-Continent region.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-19 CareATC

Tulsa, Oklahoma, United States

CareATC is a technology-driven employee population health management company. CareATC offers customized solutions for employers, including on-site health clinics, personal health assessments and wellness programs, that help reduce healthcare costs by promoting health, preventing disease and providing a shorter path to care. CareATC was founded in 1998 and is based in Tulsa, Oklahoma.

Sell -