M&A Deal Summary

Advantage Capital Partners and Hubbell Acquire Ripley Tools

On July 28, 2022, growth capital firm Advantage Capital Partners and Hubbell acquired manufacturer Ripley Tools from CW Industrial Partners and Ironwood Capital

Acquisition Highlights
  • This is Advantage Capital Partners’ 14th and Hubbell’s 1st transaction in the Manufacturing sector.
  • This is Advantage Capital Partners’ 266th and Hubbell’s 10th transaction in the United States.
  • This is Advantage Capital Partners’ 23rd and Hubbell’s 2nd transaction in Connecticut.

M&A Deal Summary
Date 2022-07-28
Target Ripley Tools
Sector Manufacturing
Buyer(s) Advantage Capital Partners
Hubbell
Sellers(s) CW Industrial Partners
Ironwood Capital
Deal Type Add-on Acquisition

Target

Ripley Tools

Cromwell, Connecticut, United States
Ripley Tools is a designer and manufacturer of a wide variety of cable preparation tools. These specialty hand tools are sold to electrical utility, electrical contractor, CATV, telephone and telecommunication markets under the Utility Tool, Cablematic, Miller and Clauss tool brand names. Ripley Tools was founded in 1936 and is based in Cromwell, Connecticut.

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Buyer(S) 2

Buyer

Advantage Capital Partners

New Orleans, Louisiana, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1992
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Advantage Capital Partners is a private equity firm focused on providing growth capital to a variety of companies. The Firm's geographic coverage includes Alabama, Colorado, Florida, Hawaii, Louisiana, Mississippi, Missouri, New York, Texas, Wisconsin and Washington DC. Advantage looks to initially commit $0.5 to $2 million per investment and can provide mezzanine debt in addition to equity capital. Areas of interest include communications, information technology, life science, and energy. Advantage Capital was formed in 1992 and is headquartered in New Orleans, Louisiana.

DEAL STATS #
Overall 268 of 272
Sector (Manufacturing) 14 of 14
Type (Add-on Acquisition) 3 of 4
State (Connecticut) 23 of 24
Country (United States) 266 of 270
Year (2022) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-26 FIAT

Somerset, Kentucky, United States

FIAT is a manufacturer of terrazzo mop basins, shower floors, and laundry tubs for commercial, institutional, and residential markets. FIAT was founded in 1919 and is based in Somerset, Kentucky.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-05 TPG Plastics

Murray, Kentucky, United States

TPG Plastics is a manufacturer of engineered plastics blow molded products, specializing in large drop blow molded parts and fuel management solutions. TPG Plastics was founded in 2018 and is based in Murray, Kentucky.

Buy -
Buyer

Hubbell

Shelton, Connecticut, United States
Category Company
Founded 1888
Sector Electronics
Employees18,400
Revenue 5.4B USD (2023)
DESCRIPTION

Hubbell is a manufacturer of electrical and electronic products for a broad range of non-residential and residential construction, industrial and utility applications. Hubbell was founded in 1888 and is based in Shelton, Connecticut.

DEAL STATS #
Overall 11 of 12
Sector (Manufacturing) 1 of 2
Type (Add-on Acquisition) 10 of 11
State (Connecticut) 2 of 2
Country (United States) 10 of 11
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-26 Hubbell - C&I Lighting Business

Greenville, South Carolina, United States

The Hubbell C&I lighting business is a provider of professional lighting, lighting controls, and connected lighting. The business offers a comprehensive range of indoor and outdoor lighting products for industrial, commercial, and institutional applications.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-30 Systems Control

Iron Mountain, Michigan, United States

Systems Control provides engineering and manufacturing of equipment enclosures and control and relay panels used in electrical transmission and distribution substations across North America. Systems Control was founded in 1962 and is based in Iron Mountain, Michigan.

Buy $1.1B

Seller(S) 2

SELLER

CW Industrial Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 500M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

CW Industrial Partners is an industrial-focused private equity firm that is backed by knowledgeable investors who partner with it in finding, vetting, and owning companies. CW Industrial Partners acquires lower middle-market companies in manufacturing and industrial services industries and provides capital, support, and freedom to grow. CW Industrial Partners was founded in 1999 and is based in Cleveland, Ohio.

DEAL STATS #
Overall 17 of 17
Sector (Manufacturing) 4 of 4
Type (Add-on Acquisition) 10 of 10
State (Connecticut) 2 of 2
Country (United States) 15 of 15
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-20 SST Conveyor Components

Loveland, Ohio, United States

SST Conveyor Components is a designer and manufacturer of specialized conveyor components serving the material handling, distribution, and conveyor systems integration markets. SST Conveyor produces high-quality straight, tapered, grooved, and custom rollers, bearing assemblies, and pulleys tailored to meet the unique requirements of each customer. SST Conveyor Components was founded in 1957 and is based in Loveland, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-12 Mantaline

Mantua, Ohio, United States

Mantaline is a manufacturer of customized, extruded elastomeric profiles for the automotive, heavy truck, and industrial markets. Mantaline was formed in 1964 and is based in Mantua, Ohio.

Buy -
SELLER

Ironwood Capital

Avon, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1986
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Ironwood Capital is a private investment firm that makes equity and subordinated debt investments in lower middle-market companies. Investment proceeds are generally used to support leveraged buyouts, growth financings, and recapitalizations. Investments typically range from $10 to $40 million in companies generating $20 to $250 million in annual sales. Target sectors include healthcare products/services, value-added manufacturing, business services, consumer products, specialty distribution, and education. Ironwood prefers opportunities East of the Mississippi, but will selectively consider investments in the Western US. The Firm's investment horizon is three to five years. Ironwood Capital was formed in 2002 and is based in Avon, Connecticut.

DEAL STATS #
Overall 48 of 53
Sector (Manufacturing) 8 of 8
Type (Add-on Acquisition) 28 of 32
State (Connecticut) 13 of 15
Country (United States) 48 of 53
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-01 Boston Carting Services

East Greenwich, Rhode Island, United States

Boston Carting Services is an independent solid waste management company servicing the Greater Boston Area with a focus on providing residential, commercial and roll-off container waste collection. Boston Carting Services was founded in 2018 and is based in East Greenwich, Rhode Island.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-29 Pro Disposal

Ridgeland, South Carolina, United States

Pro Disposal is a vertically integrated waste management service provider permitted to handle waste from initial collection to final disposal. Pro Disposal was founded in 2006 and is based in Ridgeland, South Carolina.

Buy -
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