Divestiture • Building Materials

Altus Capital Partners and Centerfield Capital Partners Acquire Thermafiber

On August 22, 2007, private equity firm Altus Capital Partners and mezzanine finance firm Centerfield Capital Partners acquired building materials company Thermafiber from Hercules Group

Acquisition Context
  • This is Altus Capital Partners’ 2nd and Centerfield Capital Partners’ 2nd transaction in the Building Materials sector.
  • This is Altus Capital Partners’ 7th and Centerfield Capital Partners’ 18th transaction in the United States.
  • This is Altus Capital Partners’ 1st and Centerfield Capital Partners’ 5th transaction in Indiana.
Investment Fate
  • Thermafiber was sold to a publicly-traded strategic buyer in 2013.

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M&A Deal Summary

Date August 22, 2007
Target Thermafiber
Sector Building Materials
Buyer(s) Altus Capital Partners
Centerfield Capital Partners
Sellers(s) Hercules Group
Deal Type Divestiture
Advisor(s) Lincoln International (Financial)

Target Company

Thermafiber

Wabash, Indiana, United States
Thermafiber, Inc. is a producer of mineral wool insulation products used primarily in commercial and industrial buildings. Thermafiber's products are sold to construction markets, power and process markets, and a wide variety of industrial and OEM markets.
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Buyers Overview 2

Buyer

Altus Capital Partners

Wilton, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 280M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Altus Capital Partners is a private equity firm focused on acquiring and investing in medium sized North American-based manufacturing companies. Altus looks for businesses with EBITDA of at least $4 million and valued between $25 and $100 million. Typical transaction types include buyouts, recapitalizations, and divestitures. Alta Capital Partners was formed in 2003 and is based in Wilton, Connecticut.


Deal Context for Buyer #
Overall 7 of 23
Sector: Building Materials 2 of 4
Type: Divestiture 1 of 2
State: Indiana 1 of 1
Country: United States 7 of 23
Year: 2007 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-22 Gichner Shelter Systems

Dallastown, Pennsylvania, United States

Gichner Shelter Systems is a leading designer and manufacturer of tactical shelters, containers, and subsystems. Gichner's turnkey systems are noted for rapid mobility, critically important in emergency and military applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-23 Magnatech International

Robesonia, Pennsylvania, United States

Manufacturer of equipment and replacement parts for the reinforced hose marketplace.

Sell $56M
Buyer

Centerfield Capital Partners

Indianapolis, Indiana, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2001
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Centerfield Capital Partners is a private investment firm that provides subordinated debt and equity capital to mid-market companies. Prospective transactions include acquisition financings, management buyouts, shareholder liquidity needs, recapitalizations, corporate divestitures, ESOP financings, and sponsored/unsponsored transactions. Centerfield generally invests in companies with sales of $15 to $100 million and EBITDA of $3 to $15 million. Target sectors include manufacturing, business services, healthcare services, and transportation/distribution. Centerfield will not invest in early stage businesses, turnaround situations, retail, real estate, and finance companies. Centerfield Capital Partners was founded in 2001 and is based in Indianapolis, Indiana.


Deal Context for Buyer #
Overall 18 of 100
Sector: Building Materials 2 of 3
Type: Divestiture 2 of 2
State: Indiana 5 of 12
Country: United States 18 of 100
Year: 2007 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-22 Roehm Marine

Fort Wayne, Indiana, United States

Roehm Marine LLC (d/b/a Signature Seating) manufactures boat furniture and accessories which are sold to boat manufacturers and aftermarket suppliers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-17 DCL Medical laboratories

Indianapolis, Indiana, United States

DCL Medical laboratories LLC, a women's health-focused laboratory, provides diagnostic and clinical trial testing to physicians, hospitals and pharmaceutical companies throughout the central Midwest.

Sell -

Seller Profile 1

SELLER

Hercules Group

Morges, Switzerland

Category Company
DESCRIPTION

Hercules Group SA is well positioned to handle the needs of its customers. They provide a true additional value and an excellent quality.


Deal Context for Seller #
Overall 1 of 1
Sector: Building Materials 1 of 1
Type: Divestiture 1 of 1
State: Indiana 1 of 1
Country: United States 1 of 1
Year: 2007 1 of 1