M&A Deal Summary

Altamont Capital Partners and Advantage Capital Partners Acquire Bayou Companies

On September 4, 2018, private equity firm Altamont Capital Partners and growth capital firm Advantage Capital Partners acquired energy services and equipment company Bayou Companies from Azuria

Acquisition Highlights
  • This is Altamont Capital Partners’ 1st and Advantage Capital Partners’ 4th transaction in the Energy Services and Equipment sector.
  • This is Altamont Capital Partners’ 29th and Advantage Capital Partners’ 215th transaction in the United States.
  • This is Altamont Capital Partners’ 1st and Advantage Capital Partners’ 15th transaction in Louisiana.

M&A Deal Summary

Date 2018-09-04
Target Bayou Companies
Sector Energy Services and Equipment
Buyer(s) Altamont Capital Partners
Advantage Capital Partners
Sellers(s) Azuria
Deal Type Divestiture

Target

Bayou Companies

New Iberia, Louisiana, United States
Bayou Companies is a provider of onshore pipe coatings and offshore coatings and insulation, including highly-specialized insulation for the oil & gas industry. Bayou has been a reliable partner for its customers across its mission-critical suite of services and has continued to invest in capabilities that match the increasingly complex demands of the pipeline community. Bayou Companies was founded in 1942 and is based in New Iberia, Louisiana.

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Buyer(S) 2

Buyer

Altamont Capital Partners

Palo Alto, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2010
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Altamont Capital is a private equity group focused on acquiring US-based middle-market companies. The Firm has a particular interest in companies undergoing a transition, either operational or strategic, in which Altamont believes it can help navigate. Altamont can invest up to $150 million of equity per transaction and looks for businesses with EBITDA up to $100 million. The Firm prefers control transactions and targets a range of transaction types, including corporate carve-outs, build-ups, take-privates, and founder transitions. Sectors of interest include business services, financial services, industrials, healthcare, consumer, retail, restaurants, franchising, and technology. Altamont Partners was formed in 2010 and is based in Palo Alto, California.


DEAL STATS #
Overall 31 of 49
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 2 of 6
State (Louisiana) 1 of 1
Country (United States) 29 of 43
Year (2018) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-01 Alamo Drafthouse Cinema

Austin, Texas, United States

Alamo Drafthouse Cinemas is a dine-in movie theater chain, operator, and franchisor of over 30 locations nationwide. Alamo Drafthouse Cinema is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-09 Juice Plus+

London, United Kingdom

Juice Plus+ is a privately owned company selling products designed to improve quality of life. Juice Plus+ is fruit and vegetable nutrition in a convenient capsule or chewable form, with powder concentrates from 30 fruits, vegetables, and grains. Beginning with whole food based capsules, the Juice Plus+ product line has evolved to include chewable, which appeal to kids and adults alike, as well as whole food shakes and nutrition bars. Juice Plus+ was founded in 1970 and is based in London, United Kingdom.

Buy -
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 216 of 271
Sector (Energy Services and Equipment) 4 of 4
Type (Divestiture) 2 of 4
State (Louisiana) 15 of 20
Country (United States) 215 of 269
Year (2018) 11 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-23 RXQ Compounding

Albany, Ohio, United States

RXQ Compounding is a FDA-approved outsourcing facility that manufactures medical formularies and medications used in physician offices and hospitals across the country, located in Athens County, one of Ohio’s hardest hit rural areas. RXQ Compounding was founded in 2014 and is based in Albany, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-07 Capewell Aerial Systems

South Windsor, Connecticut, United States

Capewell Aerial Systems is a design and manufactures tactical, parachute and aerial delivery products. Capewell Aerial Systems was founded in 1881 and is based in South Windsor, Connecticut.

Sell -

Seller(S) 1

SELLER

Azuria

St. Louis, Missouri, United States

Category Company
Founded 1971
Sector Engineering
Revenue 1.2B USD (2019)
DESCRIPTION
Entrance to Aegion's corporate headquarters in St. Louis, Missouri.
Entrance to Aegion's corporate headquarters in St. Louis, Missouri.

Azuria engages in infrastructure protection and provides proprietary technologies and services for the corrosion protection of industrial pipelines and for rehabilitating and strengthening sewer, water, energy, and mining piping systems, buildings, bridges and tunnels, and waterfront structures. Azuria was formed in 1971 and is based in St. Louis, Missouri.


DEAL STATS #
Overall 1 of 3
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 3
State (Louisiana) 1 of 1
Country (United States) 1 of 3
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-05 Underground Solutions

Poway, California, United States

Underground Solutions, Inc. is a provider of water and wastewater infrastructure and process technologies by providing infrastructure technologies for water, sewer and conduit applications.

Buy $85M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-08 Fyfe North America and Fyfe Europe Business

United States

Fyfe North America and Fyfe Europe Business designs and manufactures fiber-reinforced polymer (FRP) systems for strengthening, repair, and restoration of pipes, masonry, concrete, steel, and wooden structures.

Sell -