M&A Deal Summary

American Card Services Acquires Production Services Associates

On July 9, 2014, American Card Services acquired business services company Production Services Associates from Norwest Equity Partners, Aldine Capital Partners and Spell Capital Partners

Acquisition Highlights
  • This is American Card Services’ 2nd transaction in the Business Services sector.
  • This is American Card Services’ 2nd transaction in the United States.
  • This is American Card Services’ 1st transaction in Illinois.

M&A Deal Summary
Date 2014-07-09
Target Production Services Associates
Sector Business Services
Buyer(s) American Card Services
Sellers(s) Norwest Equity Partners
Aldine Capital Partners
Spell Capital Partners
Deal Type Add-on Acquisition

Target

Production Services Associates

Buffalo Grove, Illinois, United States
Production Services Associates LLC is a designs, manufactures, and distributes plastic cards, offering turnkey solutions for gift, loyalty, membership, identification, promotional, and single source programs.

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Buyer(S) 1

Buyer

American Card Services

St. Louis, Missouri, United States
Category Company
Sector Business Services
DESCRIPTION

American Card Services is a manufacturer of printed gift and loyalty cards for global retail merchant payment processors. American Card Services has developed a niche expertise in manufacturing and fulfilling short run gift card orders for retailers around the United States. American Card Services is based in St. Louis, Missouri.

DEAL STATS #
Overall 2 of 2
Sector (Business Services) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Illinois) 1 of 1
Country (United States) 2 of 2
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-01 Vesta Card Manufacturing

Scottsdale, Arizona, United States

Vesta Card Manufacturing is a specialized in the design, printing, personalization, mailing, and distribution of plastic cards for the loyalty, gift, and insurance markets.

Buy -

Seller(S) 3

SELLER

Norwest Equity Partners

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1961
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Norwest Equity Partners (NEP) is a private equity firm focused on investing in growing and profitable middle-market companies. NEP targets investments in businesses valued between $50 and $500 million, typically investing $50 to $250 million of capital per investment. Funds are typically used to fund management buyouts, recapitalizations, and growth financing. Sectors of interest include manufacturing, distribution, healthcare, technology/business services, and consumer products/services. NEP is affiliated with Norwest Mezzanine Partners, an investment partnership focused on providing junior capital to middle-market companies. Norwest Equity Partners is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 28 of 54
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 14 of 20
State (Illinois) 1 of 5
Country (United States) 28 of 52
Year (2014) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-17 United Sports Brands

Fountain Valley, California, United States

United Sports Brands is a provider of technology-driven sports protective equipment. The company sells mission-critical products used at every level of sport including mouthguards, protective gear, sports medicine and therapy, cycling, gloves, and other sport focused accessories and apparel. United Sports Brands was founded in 1992 and is based in Fountain Valley, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-09 Uintah Engineering & Land Surveying

Vernal, Utah, United States

Uintah Engineering & Land Surveying is a provider of land surveying, drafting and civil engineering services for the oil and gas industry in the U.S. Uintah Engineering & Land Surveying was founded in 1964 and is based in Vernal, Utah.

Buy -
SELLER

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 7 of 24
Sector (Business Services) 2 of 2
Type (Add-on Acquisition) 6 of 14
State (Illinois) 3 of 6
Country (United States) 7 of 24
Year (2014) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-31 Global Employment Solutions

Littleton, Colorado, United States

Global Employment Solutions, Inc. provides Information Technology and Professional staffing services in the commercial and government markets under the brands Fahrenheit IT, ITEC and Global Employment Solutions. GES employs over 1,500 professionals with office locations in 13 markets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-01 Applied Process

Livonia, Michigan, United States

Applied Process, Inc. is a specialty heat treating company focused on austempering, an isothermal heat treatment which creates superior properties on ferrous metal parts: less distortion, higher strength, higher toughness, better wear resistance, lighter components, and lower overall cost.

Buy -
SELLER

Spell Capital Partners

Edina, Minnesota, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Spell Capital Partners is a private equity firm that targets control investments in lower middle-market manufacturing and distribution businesses. Spell targets companies with at least $5 million in annual revenues and minimum EBITDA of $1 million. The Firm's target equity investment size range is $2 to $15 million. Spell prefers opportunities located in the upper-midwestern states of Minnesota, Iowa, Wisconsin, North Dakota, South Dakota, Indiana, Illinois, and Nebraska. Spell Capital Partners was formed in 1988 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 14 of 35
Sector (Business Services) 1 of 2
Type (Add-on Acquisition) 9 of 20
State (Illinois) 2 of 2
Country (United States) 14 of 35
Year (2014) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-23 Northwire

Osceola, Wisconsin, United States

Northwire, Inc. is a designer, manufacturer and contract service provider of custom technical products including wire and cable, retractile cords, cable assemblies, connectors, harnesses, injection molding, over-molding and contract engineering for diverse applications in life sciences, aerospace and defense, energy, industrial, architectural lighting, underwater and more.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-01 IRONMARKETS

Fort Atkinson, Wisconsin, United States

IRONMARKETS is a provider of integrated marketing solutions across five business-to-business media platforms including digital, print, mobile, live events and social media to the heavy construction and food & supply chain logistics industries. IRONMARKETS was founded in 2014 and is based in Fort Atkinson, Wisconsin.

Buy -
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