M&A Deal Summary

Akoya Capital Partners and PNC Mezzanine Capital Acquire Alinabal

On August 2, 2022, private equity firm Akoya Capital Partners and mezzanine finance firm PNC Mezzanine Capital acquired manufacturer Alinabal

Acquisition Highlights
  • This is Akoya Capital Partners’ 6th and PNC Mezzanine Capital’s 10th transaction in the Manufacturing sector.
  • This is Akoya Capital Partners’ 23rd and PNC Mezzanine Capital’s 70th transaction in the United States.
  • This is Akoya Capital Partners’ 2nd and PNC Mezzanine Capital’s 2nd transaction in Connecticut.

M&A Deal Summary

Date 2022-08-02
Target Alinabal
Sector Manufacturing
Buyer(s) Akoya Capital Partners
PNC Mezzanine Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Alinabal

Milford, Connecticut, United States
Alinabal manufactures spherical rod end bearings, connecting linkages and assemblies, precision stampings, complex mechanical assemblies, special purpose printers, optical shutters, and aircraft instrumentations. Alinabal was founded in 1913 and is based in Milford, Connecticut.

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Buyer(S) 2

DESCRIPTION

Akoya Capital Partners is a private equity firm focused on acquiring profitable US-based middle-market companies with $25 to $200 million in revenue. The Firm generally pursues privately-owned companies, especially family-owned businesses. Sectors of interest include chemicals, food, information services, consumer products, industrial products, and industrial distribution. Akoya Capital Partners was formed in 2005 and is based in Chicago, Illinois.


DEAL STATS #
Overall 23 of 25
Sector (Manufacturing) 6 of 6
Type (Buyout (LBO, MBO, MBI)) 13 of 14
State (Connecticut) 2 of 2
Country (United States) 23 of 25
Year (2022) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-27 WePackItAll

Duarte, California, United States

WePackItAll is a premier supplier of contract packaging, filling, fulfillment, and warehousing services to leading brands in the nutraceutical, dietary supplements, food & beverage, and health & beauty sectors. WPIA’s primary packaging solutions include stick packs, sachets, gummy bottles, powder / tablet bottles, and multipacks. WePackItAll was founded in 1974 and is based in Duarte, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-23 Devansoy

Rock City, Illinois, United States

Devansoy is a manufacturer of soy, oat, and pea protein ingredients. Devansoy was founded in 1992 and is based in Rock City, Illinois.

Buy -
Buyer

PNC Mezzanine Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

PNC Mezzanine Capital is the subordinated debt investing arm of PNC Bank. PNC Mezzanine looks to provide $10 to $50 million of junior capital to middle-market companies in a variety of industries. Prospective companies generally have revenues of $20 million and EBITDA greater than $4 million. Broad sectors of interest include niche manufacturing, value-added distribution, and business or consumer services. PNC will not invest in early-stage or technology-driven businesses; real estate, commodity-based or capital-intensive companies; businesses with high customer or vendor concentration; or declining businesses. PNC Mezzanine was formed in 1989 and is based in Pittsburgh, Pennsylvania.


DEAL STATS #
Overall 74 of 77
Sector (Manufacturing) 10 of 10
Type (Buyout (LBO, MBO, MBI)) 37 of 38
State (Connecticut) 2 of 2
Country (United States) 70 of 73
Year (2022) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-29 Century Linen & Uniform

Gloversville, New York, United States

Century Linen & Uniform is a provider of outsourced linen management services, uniform programs, specialty products & value-added services to healthcare, hospitality, and commercial customers across the Northeast region. Century Linen & Uniform was founded in 1915 and is based in Gloversville, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-08 Aptyx

Tempe, Arizona, United States

Aptyx is a manufacturer of custom dip molded, dip-coated, and injection molded parts. MDI specializes in short run, small batch, custom molded products primarily for U.S.-based OEM customers in industrial, medical, and consumer end markets. Aptyx was founded in 1998 and is based in Tempe, Arizona.

Sell -