M&A Deal Summary

Angeles Equity Partners Acquires Crenlo Engineered Cabs

On November 5, 2019, private equity firm Angeles Equity Partners acquired manufacturer Crenlo Engineered Cabs from KPS Capital Partners

Acquisition Highlights
  • This is Angeles Equity Partners’ 1st transaction in the Manufacturing sector.
  • This is Angeles Equity Partners’ 6th transaction in the United States.
  • This is Angeles Equity Partners’ 1st transaction in Minnesota.

M&A Deal Summary
Date 2019-11-05
Target Crenlo Engineered Cabs
Sector Manufacturing
Buyer(s) Angeles Equity Partners
Sellers(s) KPS Capital Partners
Deal Type Secondary Buyout
Advisor(s) Lincoln International (Financial)

Target

Crenlo Engineered Cabs

Rochester, Minnesota, United States
Crenlo Engineered Cabs is a manufacturer of highly engineered steel frame cab enclosures and rollover structures serving major OEM's in the construction, agriculture, and commercial equipment markets. The company also produces a proprietary line of electronic enclosures under its EMCOR trademark, which serves the commercial, telecom, datacom, test & measurement, broadcast, and security markets. Electronic enclosure capabilities range from standard & modified standard product offerings, to complete custom indoor or outdoor enclosure solutions. Crenlo Engineered Cabs was formed in 1951 and is based in Rochester, Minnesota.

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Buyer(S) 1

Buyer

Angeles Equity Partners

Investor Investor Investor

Category Private Equity Firm
Founded 2014
PE ASSETS 360M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Angeles Equity Partners LLC is a private equity firm focused on acquiring North American headquartered companies valued up to $350 million. Angeles is a hands-on investor and prefers underperforming companies in need of restructuring, non-core assets of larger businesses, or family/founder owned businesses that could benefit from operational assistance. Target sectors include automotive, building materials, machinery, chemicals, electronics, manufacturing, metals, transportation/logistics, packaging, and distribution. Angeles Capital Partners was formed in 2014 and is based in Los Angeles, California.

DEAL STATS #
Overall 6 of 16
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 3 of 4
State (Minnesota) 1 of 1
Country (United States) 6 of 15
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-11 Mini Pharmacy Enterprises

Los Angeles, California, United States

Mini Pharmacy Enterprises is a specialty pharmacy and distributor of diabetic supplies, Continuous Glucose Monitors, general prescriptions, nutritional formulas, and durable medical equipment to its patient base. Mini has been primarily serving the southern California market for almost 40 years and is one of the nation's largest pharmacies specializing in the distribution of diabetes care and medical supplies. Mini Pharmacy Enterprises was founded in 1980 and is based in Los Angeles, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-25 American Construction Source

Springfield, Missouri, United States

American Construction Source is an LBM distributor with 70+ locations in nine states serving the needs of custom home builders, repair & remodel contractors, and DIY consumers. ACS provides lumber and building materials businesses the resources, leverage, and focus to make their ideas happen. American Construction Source was founded in 2018 and is based in Springfield, Missouri.

Sell -

Seller(S) 1

SELLER

KPS Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1991
PE ASSETS 13.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

KPS Capital Partners is a private investment firm that targets special situations including turnarounds, restructurings, bankruptcies, and corporate divestitures. KPS' target investment size is $100 million to $1 billion in businesses with minimum revenues of $250 million. The Firm has specific interest in companies engaged in the manufacturing, transportation, and service industries. KPS will not consider investments in high technology, financial services, telecommunications, broadcast media, real estate and natural resources. The Firm's geographic coverage spans the US, Canada, and Europe. KPS Capital Partners was formed in 1991 and is based in New York City.

DEAL STATS #
Overall 29 of 34
Sector (Manufacturing) 4 of 5
Type (Secondary Buyout) 10 of 11
State (Minnesota) 1 of 1
Country (United States) 25 of 28
Year (2019) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-19 Chassis Brakes International B.V.

Amsterdam, France

Chassis Brakes International Group is a manufacturer of automotive brakes and related brake components. The Group’s primary products include brake calipers, disk brakes, drum brakes, and parking brakes. These products are sold directly to original equipment manufacturers and through various aftermarket channels. Chassis Brakes International Group is based in Amsterdam, the Netherlands.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-26 AIS Global

Coeur d’Alene, Idaho, United States

AIS Global is a global designer and manufacturer of human-machine interface (“HMI”) solutions for original equipment manufacturers worldwide in the medical, commercial, industrial, and gaming end markets. It has seven facilities across the United States, United Kingdom, Germany, Taiwan, and China, including four key manufacturing facilities. AIS Global is headquartered in Coeur d’Alene, Idaho.

Buy -
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