M&A Deal Summary

AMETEK Acquires ESP/SurgeX

On February 5, 2016, AMETEK acquired electrical equipment company ESP/SurgeX from Lenox Equity Partners, Triangle Capital, Gridiron Capital and Starboard Capital Partners for 130M USD

Acquisition Highlights
  • This is AMETEK’s 11th transaction in the Electrical Equipment sector.
  • This is AMETEK’s 21st largest (disclosed) transaction.
  • This is AMETEK’s 43rd transaction in the United States.
  • This is AMETEK’s 2nd transaction in North Carolina.

M&A Deal Summary

Date 2016-02-05
Target ESP/SurgeX
Sector Electrical Equipment
Buyer(s) AMETEK
Sellers(s) Lenox Equity Partners
Triangle Capital
Gridiron Capital
Starboard Capital Partners
Deal Type Add-on Acquisition
Deal Value 130M USD

Target

ESP/SurgeX

Knightdale, North Carolina, United States
ESP/SurgeX is a manufacturer of power filtration and power protection technology for the office technology and mailing equipment industries.

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Buyer(S) 1

Buyer

AMETEK

Berwyn, Pennsylvania, United States

Category Company
Founded 1930
Sector Test/Measurement Equipment
Employees21,500
Revenue 6.6B USD (2023)
DESCRIPTION
Entrance to AMETEK's headquarters in Berwyn, Pennsylvania.
Entrance to AMETEK's headquarters in Berwyn, Pennsylvania.

AMETEK is a global manufacturer of electronic instruments and electromechanical devices. AMETEK was founded in 1930 and is based in Berwyn, Pennsylvania.


DEAL STATS #
Overall 50 of 72
Sector (Electrical Equipment) 11 of 12
Type (Add-on Acquisition) 44 of 65
State (North Carolina) 2 of 2
Country (United States) 43 of 59
Year (2016) 2 of 5
Size (of disclosed) 21 of 37
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-05 Brookfield Engineering Laboratories

Middleboro, Massachusetts, United States

Brookfield Engineering Laboratories, Inc. is a manufacturer of viscometers and rheometers.

Buy $167M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-04 HS Foils Oy

Espoo, Finland

HS Foils Oy is a developer of patented silicon nitride window technology products that significantly expands the limits of X-ray window performance and areas of application. It also has extensive expertise in silicon PIN and silicon drift detector manufacturing.

Buy -

Seller(S) 4

SELLER

Lenox Equity Partners

Atlanta, Georgia, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
Size Small
Type Sector Agnostic
DESCRIPTION

Lenox Equity Partners is a private equity firm focused on investing in late-stage, mature companies. Lenox looks for privately-held companies as well as non-core divestitures and is willing to invest across the capital structure, including common/preferred equity commitments and mezzanine debt. Target businesses generally have revenues of $10 to $25 million and EBITDA of $1 to $5 million. Sectors of interest include healthcare services, chemical/mineral products and processing, rubber/plastic products, metal fabrication, industrial/commercial machinery, electronics, measuring instruments, and value-added distribution. Lenox Equity Partners is based in Atlanta, Georgia.


DEAL STATS #
Overall 1 of 1
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-14 Crown Carbon

Gillette, Wyoming, United States

Crown Carbon specializes in the formulation and application of proprietary specialty chemicals involved in the handling of various raw materials for the coal, steel, and utility industries. Crown Carbon was founded in 1979 and is based in Gillette, Wyoming.

Buy -
SELLER

Triangle Capital

Raleigh, North Carolina, United States

Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION


DEAL STATS #
Overall 31 of 71
Sector (Electrical Equipment) 1 of 3
Type (Add-on Acquisition) 16 of 33
State (North Carolina) 6 of 8
Country (United States) 31 of 70
Year (2016) 4 of 15
Size (of disclosed) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-02 Danville Materials

San Ramon, California, United States

Danville Materials, Inc. designs, formulates and manufactures a range of intra-oral air abrasion and micro-etching equipment as well as consumable dental materials used by dentists globally.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-10 Simplura Health Group

Valley Stream, New York, United States

Simplura Health Group is a provider of home care services to patients in New York, New Jersey, and Florida. Simplura Health provides a wide range of services from basic services, such as providing a homemaker to assist with meal preparation and light housekeeping for a few hours a day or a home health aide to provide assistance with activities of daily living, to complex home nursing services provided by around-the-clock Registered Nurses. Simplura Health Group was founded in 1955 and is based in Valley Stream, New York.

Sell -
SELLER

Gridiron Capital

New Canaan, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 764M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gridiron Capital is a private equity firm focused on acquiring mid-sized North American manufacturing, service and specialty consumer companies. Gridiron looks to commit companies with EBITDA up to $60 million. The Firm prefers controlling interests when considering transactions. Situations of interest include companies operating in sectors undergoing change, closely held companies owned by founding family or management for ownership transition, and corporate divestitures of orphaned or non-strategic business units. Gridiron Capital was formed in 2004 and is based in New Canaan, Connecticut.


DEAL STATS #
Overall 7 of 19
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 6
State (North Carolina) 2 of 3
Country (United States) 7 of 19
Year (2016) 1 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-14 Dent Wizard International

Bridgeton, Missouri, United States

Dent Wizard is the provider of automotive reconditioning services and related products. Dent Wizard International was founded in 1983 and is based in Bridgeton, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-01 Travel Nurse across America

North Little Rock, Arizona, United States

Travel Nurse Across America is a provider of travel nurse staffing services in the United States. Travel Nurse Across America serves some of the largest hospital and healthcare systems in the United States through direct customer relationships, managed services providers, and vendor management systems.

Buy -
SELLER

Starboard Capital Partners

Southport, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Starboard Capital Partners LLC is an unsponsored investment group that works with private equity investors and management in acquiring mid-sized businesses valued between $25 and $100 million. In addition to investing, Starboard earns equity for initiating transactions and for ongoing advisory services. Sectors of interest include automotive, consumer products, building materials, construction, distribution, e-commerce, franchising, manufacturing, healthcare, and real estate. Starboard Capital was formed in 2004 and is based in Southport, Connecticut.


DEAL STATS #
Overall 8 of 10
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 5 of 7
State (North Carolina) 2 of 2
Country (United States) 8 of 10
Year (2016) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-04 The Roberts Company

Winterville, North Carolina, United States

The Roberts Company, Inc. is an industrial construction, fabricator, and plant maintenance contractor. TRC's field services division specializes in providing plant maintenance, plant retrofits and expansion services largely in the Mid-Atlantic region, while its fabrication division manufactures ASME code pressure vessels, heat exchangers, reactors, columns, conveyors, skids/ducts/piping, high purity equipment and storage tanks for customers in the United States and abroad.

Sell $500K
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-24 Apothecare

Brockton, Massachusetts, United States

Apothecare is a rapidly growing institutional pharmacy targeting the behavioral health sector in group homes and community-based settings in Massachusetts. Apothecare is based in Brockton, Massachusetts.

Buy -