M&A Deal Summary

American Industrial Partners Acquires Boart Longyear

On January 3, 2024, private equity firm American Industrial Partners acquired energy services and equipment company Boart Longyear

Acquisition Highlights
  • This is American Industrial Partners’ 2nd transaction in the Energy Services and Equipment sector.
  • This is American Industrial Partners’ 42nd transaction in the United States.
  • This is American Industrial Partners’ 1st transaction in Utah.

M&A Deal Summary

Date 2024-01-03
Target Boart Longyear
Sector Energy Services and Equipment
Buyer(s) American Industrial Partners
Deal Type Going Private

Target

Boart Longyear

Salt Lake City, Utah, United States
Boart Longyear is a provider of drilling services, orebody-knowledge technology, and innovative, safe and productivity-driven drilling equipment. The Company’s primary focus is on mining and exploration activities spanning commodities including copper, gold, nickel, zinc, uranium, and other minerals. Boart Longyear was founded in 1890 and is based in Salt Lake City, Utah.

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Buyer(S) 1

Buyer

American Industrial Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

American Industrial Partners is a private equity firm focused on investments in North American manufacturing or industrial service companies. For platform acquisitions, the Firm seeks businesses with at least $500 million of revenue and the Firm will consider transactions valued up to $2 billion. Operating characteristics of prospective businesses include historical record of strong free cash flows, opportunities to drive value through operating enhancements, and sustainable competitive advantages. American Industrial Partners will consider a variety of transaction types including leveraged buyouts, structured equity investments, bridge financings, senior debt, carve-outs, take privates, turnarounds, and rescue financings. American Industrial Partners was formed in 1989 and is based in New York City.


DEAL STATS #
Overall 49 of 55
Sector: Energy Services and Equipment M&A 2 of 2
Type: Going Private M&A Deals 4 of 4
State: Utah M&A 1 of 1
Country: United States M&A 42 of 47
Year: 2024 M&A 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-01 Shape Technologies Group

Kent, Washington, United States

Shape Technologies Group is a manufacturer of proprietary ultra-high pressure (“UHP”) pumps, waterjet cutting systems, and integrated robotic automation solutions that enable the processing of modern industrial materials. SHAPE offers customers a productivity solution that maximizes machine uptime, minimizes post-processing, and decreases cycle times. SHAPE serves customers in mission critical environments for industries including food processing, material handling, aerospace, automotive lightweighting, and general industrial markets. Shape Technologies Group is based in Kent, Washington.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-29 Carlstar Group

Franklin, Tennessee, United States

Carlstar Group is a producer of original equipment and aftermarket industrial belts, specialty tires and wheels for agriculture, construction, industry, outdoor power equipment, powersports, towables and trailers. Carlstar Group was founded in 1995 and is based in Franklin, Tennessee.

Sell $296M