M&A Deal Summary

American Capital and Wingate Partners Acquire Corrpro Companies

On March 30, 2004, private equity firms American Capital and Wingate Partners acquired engineering company Corrpro Companies

Acquisition Highlights
  • This is American Capital’s 2nd and Wingate Partners’ 1st transaction in the Engineering sector.
  • This is American Capital’s 108th and Wingate Partners’ 12th transaction in the United States.
  • This is American Capital’s 11th and Wingate Partners’ 4th transaction in Texas.
Investment Fate
  • Corrpro Companies was sold to a publicly-traded strategic buyer in 2009.

M&A Deal Summary

Date 2004-03-30
Target Corrpro Companies
Sector Engineering
Buyer(s) American Capital
Wingate Partners
Deal Type Recapitalization
Advisor(s) Farlie Turner Gilbert Investment Banking (Financial)

Target

Corrpro Companies

Houston, Texas, United States
Corrpro Companies, Inc. is a provider of corrosion control engineering services, systems and equipment to the infrastructure, environmental and energy markets around the world. Corrpro provides cathodic protection systems and engineering services, as well as corrosion protection services relating to coatings, pipeline integrity and reinforced concrete structures.

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Buyer(S) 2

Buyer

American Capital


Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.


DEAL STATS #
Overall 110 of 265
Sector: Engineering M&A 2 of 5
Type: Recapitalization M&A Deals 9 of 21
State: Texas M&A 11 of 23
Country: United States M&A 108 of 253
Year: 2004 M&A 8 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-05 Securus Technologies

Dallas, Texas, United States

Securus Technologies is a provider of specialized telecommunications products and services, including security-enhanced call processing, call validation and billing for the corrections communications marketplace. Securus Technologies was founded in 1986 and is based in Dallas, Texas.

Buy $75M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-05 Interior Specialists

Carlsbad, California, United States

Interior Specialists, Inc. is a provider of outsourced interior design and installation services for homebuilders in the Southwestern U.S. The company sells flooring, countertops, window coverings, cabinets, and other products to homeowners and contracts with installers to install these products.

Buy -
Buyer

Wingate Partners

Dallas, Texas, United States

Investor Investor Investor


Category Private Equity Firm
Founded 1987
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Wingate Partners is a turnaround investment firm that purchases controlling stakes in troubled manufacturing, distribution and service businesses headquartered in the US. Wingate looks to acquire under-performing companies, profitable businesses in changing or out of favor industries, and companies with incomplete management teams. Target businesses typically have revenues between $50 and $250 million. Wingate will not invest in banking, insurance, real estate, media, natural resources, and high technology. Wingate Partners was formed in 1987 and is based in Dallas, Texas.


DEAL STATS #
Overall 12 of 27
Sector: Engineering M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
State: Texas M&A 4 of 6
Country: United States M&A 12 of 27
Year: 2004 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-10-24 Varsity Brands

Farmers Branch, Texas, United States

Varsity Brands provides goods and services to the school spirit industry. The company designs, markets, and manufactures cheerleading and dance team uniforms and accessories. It elevates the student experience, promotes participation, and celebrates achievement through three unique but interrelated businesses: BSN SPORTS; Varsity Spirit; and Herff Jones. Together, these businesses promote personal, school, and community pride through their customizable products and programs to elementary and middle schools, high schools, colleges and universities, church organizations, professional and collegiate sports teams, and corporations. Varsity Brands is based in Farmers Branch, Texas.

Buy $131M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-23 AmerCable

El Dorado, Arkansas, United States

AmerCable is a manufacturer of electrical power cables used in severe operating environments such as offshore drilling platforms and mines as well as specialized applications for automotive robotics and telecommunications. AmerCable was founded in 1899 and is based in El Dorado, Arkansas.

Sell -