Investment Summary

Aldine Capital Partners, Mendota Group, Northcreek Mezzanine, Capital For Business and NewSpring Capital Invest In Jor-Mac

On December 8, 2022, mezzanine finance firm Aldine Capital Partners, private equity firm Mendota Group, Northcreek Mezzanine, private equity firm Capital For Business and private equity firm NewSpring Capital invested in metals/mining company Jor-Mac

Investment Highlights
  • This is Aldine Capital Partners’ 3rd, Mendota Group’s 2nd, Northcreek Mezzanine’s 1st, Capital For Business’ 6th and NewSpring Capital’s 2nd transaction in the Metals/Mining sector.
  • This is Aldine Capital Partners’ 60th, Mendota Group’s 11th, Northcreek Mezzanine’s 27th, Capital For Business’ 53rd and NewSpring Capital’s 177th transaction in the United States.
  • This is Aldine Capital Partners’ 6th, Mendota Group’s 4th, Northcreek Mezzanine’s 1st, Capital For Business’ 8th and NewSpring Capital’s 4th transaction in Wisconsin.

Investment Summary

Date 2022-12-08
Target Jor-Mac
Sector Metals/Mining
Investor(s) Aldine Capital Partners
Mendota Group
Northcreek Mezzanine
Capital For Business
NewSpring Capital
Deal Type Growth Capital

Target

Jor-Mac

Lomira, Wisconsin, United States
Jor-Mac is a manufacturer of metal fabrications and electromechanical-assemblies for OEMs in the HVAC, industrial automation, and back-up power / grid infrastructure space. Jor-Mac was founded in 1952 and is based in Lomira, Wisconsin.

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Investor(S) 5

Investor

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 60 of 70
Sector (Metals/Mining) 3 of 3
Type (Growth Capital) 21 of 28
State (Wisconsin) 6 of 6
Country (United States) 60 of 70
Year (2022) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-24 Pond Robinson & Associates

Frisco, Texas, United States

Pond, Robinson & Associates is a nationwide commercial equity-level due diligence firm, providing engineering and architectural services for institutional property owners acquiring or developing commercial real estate. Pond, Robinson & Associates is based in Frisco, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-09 Lake Air Products

Minneapolis, Minnesota, United States

Lake Air Products is a precision manufacturer of metal products with deep expertise in sheet metal and structural fabrication, machining, stamping, tool design and build, and electromechanical assembly serving industrial OEMs in the medical, turf care, industrial, automotive, and aerospace industries. Lake Air Products was founded in 1974 and is based in Minneapolis, Minnesota.

Sell -
Investor

Mendota Group

Madison, Wisconsin, United States

Category Private Equity Firm
Founded 2000
Size Small
Type Sector Focused
DESCRIPTION

The Mendota Group is a private investment firm that targets Midwest US-based investments in low to medium technology manufacturing, distribution, and service-related companies. Prospective acquisitions are either privately owned or subsidiaries/divisions of publicly owned companies. Mendota typically seeks businesses with revenues between $5 and $20 million and valued less then $20 million. The Mendota Group is based in Madison, Wisconsin.


DEAL STATS #
Overall 11 of 11
Sector (Metals/Mining) 2 of 2
Type (Growth Capital) 2 of 2
State (Wisconsin) 4 of 4
Country (United States) 11 of 11
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-01 Fiberdome Products

Lake Mills, Wisconsin, United States

Fiberdome Products is a designer and manufacturer of custom molded composite fiberglass products for industrial, defense, specialty vehicle, oil & gas, construction, and heavy machinery OEMs. Fiberdome Products was founded in 1968 and is based in Lake Mills, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-09 Lake Air Products

Minneapolis, Minnesota, United States

Lake Air Products is a precision manufacturer of metal products with deep expertise in sheet metal and structural fabrication, machining, stamping, tool design and build, and electromechanical assembly serving industrial OEMs in the medical, turf care, industrial, automotive, and aerospace industries. Lake Air Products was founded in 1974 and is based in Minneapolis, Minnesota.

Sell -
Investor

Northcreek Mezzanine


Category Private Equity Firm
Founded 2010
PE ASSETS 250M USD
Size Small
Type Sector Agnostic
DESCRIPTION


DEAL STATS #
Overall 27 of 28
Sector (Metals/Mining) 1 of 1
Type (Growth Capital) 7 of 7
State (Wisconsin) 1 of 1
Country (United States) 27 of 28
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-09 Rio Ranch Markets

Fontana, California, United States

Rio Ranch Markets is an operator of a Hispanic supermarket chain. Rio primarily serves the Hispanic community by replicating the open-air atmosphere of a traditional Latin American marketplace, providing freshly prepared foods, bakery, tortilleria and basic everyday grocery, meat, produce, household needs. Rio Ranch Markets was founded in 1983 and is based in Fontana, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-03 PFI Instore

Hazelwood, Missouri, United States

PFI Instore is a merchandising solution provider to retailers and consumer-branded product companies. PFI's products and solutions can be found in most major convenience, grocery, specialty, and department stores in the United States. PFI Instore was founded in 1956 and is based in Hazelwood, Missouri.

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Investor

Capital For Business

St. Louis, Missouri, United States

Investor Investor Investor


Category Private Equity Firm
Founded 1959
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Capital for Business (CFB) is a private investment firm focused on providing junior capital to growing lower middle-market companies with at least $10 to $100 million in sales. CFB targets businesses serving niche consumer, commercial, distribution, manufacturing, and service markets throughout the United States. Funds are typically used to support management buyouts, leveraged buyouts, recapitalizations, corporate divestitures, growth financings, and going-private transactions. CFB will not invest in start-ups, turnarounds, unproven technologies, biotech, real estate, and financial institutions. Capital for Business was founded in 1959 and is headquartered in St. Louis, Missouri.


DEAL STATS #
Overall 53 of 56
Sector (Metals/Mining) 6 of 6
Type (Growth Capital) 10 of 12
State (Wisconsin) 8 of 9
Country (United States) 53 of 56
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-12 Arrow Material Handling Products

Lenexa, Kansas, United States

Arrow Material Handling Products fabricates and distributes forks and attachments for all makes and models of forklift trucks, skid steers, and construction equipment. Arrow's products are sold to customers that include construction companies, rental companies, farmers and ranchers, original equipment manufacturers, and machinery distributors. Arrow Material Handling Products was founded in 1969 and is based in Lenexa, Kansas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-01 Kupferle

St. Louis, Missouri, United States

Kupferle is a manufacturer of water hydrants, sampling stations, monitoring and flushing solutions used primarily by municipalities to manage clean water systems. Kupferle was founded in 1857 and is based in St. Louis, Missouri

Buy -
Investor

NewSpring Capital

Radnor, Pennsylvania, United States


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 181 of 201
Sector (Metals/Mining) 2 of 2
Type (Growth Capital) 96 of 106
State (Wisconsin) 4 of 4
Country (United States) 177 of 197
Year (2022) 11 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-30 Manitowoc Tool & Machining

Manitowoc, Wisconsin, United States

Manitowoc Tool & Machining is a midwestern manufacturer that produces a wide variety of precision machined parts sold primarily to industrial equipment manufacturing companies. Manitowoc Tool & Machining was founded in 1965 and is based in Manitowoc, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-01 Western Jet Aviation

Van Nuys, California, United States

Western Jet Aviation provides maintenance, repair, and avionics services for business and general aviation aircraft. Western Jet Aviation was founded in 1999 and is based in Van Nuys, California.

Sell -