M&A Deal Summary

American Securities Acquires Vibrantz

On March 29, 2018, private equity firm American Securities acquired chemicals company Vibrantz from Prospect Capital Management, Palladium Equity Partners and PennantPark Investment Advisers

Acquisition Highlights
  • This is American Securities’ 7th transaction in the Chemicals sector.
  • This is American Securities’ 57th transaction in the United States.
  • This is American Securities’ 6th transaction in Texas.

M&A Deal Summary
Date 2018-03-29
Target Vibrantz
Sector Chemicals
Buyer(s) American Securities
Sellers(s) Prospect Capital Management
Palladium Equity Partners
PennantPark Investment Advisers
Deal Type Secondary Buyout
Advisor(s) Goldman Sachs (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison (Legal)

Target

Vibrantz

Houston, Texas, United States
Vibrantz produces and markets specialty mineral products and additives. It offers naturally occurring minerals for pigment applications. The company’s mineral products include silica, iron chromite and pyrites, magnesite, magnetite, manganese dioxide, manganous oxide, olivine, red iron oxide, spodumene, and zircon. It also offers black iron and red iron oxide, chrome sand, cryolite, chromox, and glassox. In addition, the company provides alumina products, barium carbonate, bauxite, calcium carbonates, coloured sands, feldspar products, lithium products, manganese products, metallic oxides and compounds, perlite ores, and quartz products. Vibrantz is based in Houston, Texas.

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Buyer(S) 1

Buyer

American Securities

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 26.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Securities is a large private equity firm that typically partners with management when pursuing company acquisitions. American Securities typically targets US-based companies and generally seeks to commit $300 to $700 million per transaction. Areas of interest include consumer products, restaurants, healthcare, industrial, aerospace, defense, agriculture, environmental, paper/packaging, energy, and specialty chemicals. The Firm was originally formed in 1947 as the family office for William Rosenwald, an heir to the Sears Roebuck & Company, and began accepting outside investors in 1994. American Securities is headquartered in New York City.

DEAL STATS #
Overall 58 of 80
Sector (Chemicals) 7 of 9
Type (Secondary Buyout) 27 of 37
State (Texas) 6 of 10
Country (United States) 57 of 79
Year (2018) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-22 SeaStar Solutions

Litchfield, Illinois, United States

SeaStar Solutions, Inc. is a provider of OEM and aftermarket products and accessories for the recreational marine and related markets. SeaStar Solutions is based in Litchfield, Illinois.

Sell $875M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-01 United Distribution Group

Bristol, Virginia, United States

United Distribution Group, Inc. is a provider of industrial supplies and services from underground mining products to gasket and sealing products, to end users in the energy and natural resources markets.

Sell -

Seller(S) 3

SELLER

Prospect Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Business Development Company
Founded 1988
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Capital Corporation is a publicly traded mezzanine debt and private equity firm that primarily provides non-control financing to support growth, recapitalizations, acquisitions, and development. Prospect will selectively consider control acquisitions by providing multiple levels of the capital structure. Prospect was initially formed in 1988 and went public 2004. The Firm is based in New York City.

DEAL STATS #
Overall 42 of 48
Sector (Chemicals) 3 of 3
Type (Secondary Buyout) 22 of 24
State (Texas) 6 of 7
Country (United States) 41 of 47
Year (2018) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-28 CCPI

Blanchester, Ohio, United States

CCPI develops, manufactures, and sells a range of proprietary refractory materials, temperature sensing devices, and other consumable products. CCPI's high-tolerance products are used in multiple industrial applications, including steel production, aluminum production, and industrial heat treating. The Company maintains a sales office in the Netherlands and sells its products under various proprietary brands including COMAT and TunTemp. CCPI was formed in 1957 and has manufacturing facilities in Ohio, Connecticut, the United Kingdom, and Bahrain.

Sell $43M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-10 Jordan Health Services

Addison, Texas, United States

Jordan Health Services is a provider of home health services, including personal care, home management, and skilled nursing, to Medicaid and/or Medicare eligible patients throughout the entire state of Texas. With over 12,000 employees in 28 locations serving thousands of clients, Jordan Health Services is one of the largest home healthcare providers in the state of Texas.

Sell -
SELLER

Palladium Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Palladium Equity Partners is a private equity firm that looks to invest in businesses focused on the US Hispanic marketplace. Target sectors include business services, financial services, consumer/retail, food/restaurants, healthcare, manufacturing, and media. Palladium's target investment size is $50 to $150 million with an EBITDA of $10 to $75 million. The Firm will consider investing in mature, stable businesses as well as younger companies and turnaround situations. Palladium was formed in 1997 and is based in New York City.

DEAL STATS #
Overall 16 of 26
Sector (Chemicals) 2 of 2
Type (Secondary Buyout) 6 of 8
State (Texas) 4 of 7
Country (United States) 16 of 26
Year (2018) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-03 Envoy Global

Chicago, Illinois, United States

Envoy Global is an immigration services provider. Envoy combines expert legal representation – for both inbound and outbound immigration – and proprietary technology, making it seamless for companies to hire and operate an international workforce. Envoy Global was founded in 1998 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-10 Jordan Health Services

Addison, Texas, United States

Jordan Health Services is a provider of home health services, including personal care, home management, and skilled nursing, to Medicaid and/or Medicare eligible patients throughout the entire state of Texas. With over 12,000 employees in 28 locations serving thousands of clients, Jordan Health Services is one of the largest home healthcare providers in the state of Texas.

Sell -
SELLER

PennantPark Investment Advisers

Investor Investor Investor Investor Investor

Category Lender
Founded 2007
PE ASSETS 6.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

PennantPark is a provider of credit solutions to middle-market private equity sponsors. The Firm looks to provide $10 to $100 million of capital and can support a variety of investment structures. PennantPark was formed in 2007 and is headquartered in New York City.

DEAL STATS #
Overall 15 of 17
Sector (Chemicals) 1 of 1
Type (Secondary Buyout) 12 of 12
State (Texas) 1 of 1
Country (United States) 15 of 17
Year (2018) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-27 LegalShield

Ada, Oklahoma, United States

LegalShield is a provider of legal plans and identity theft solutions to families and small businesses across the US and Canada. LegalShield was founded in 1972 and is based in Ada, Oklahoma.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-05 RotoMetrics

Eureka, Missouri, United States

RotoMetrics is a manufacturer of precision rotary tooling and related accessories for the converting and printing industries. The Company produces a wide variety of highly engineered, customized rotary tooling products used to perform precision cutting or to create folds in various material substrates.

Sell -
Mergr

Product

Company

Legal