M&A Deal Summary

Angeles Equity Partners Acquires ERP Power

On June 1, 2016, private equity firm Angeles Equity Partners acquired electrical equipment company ERP Power from Convergent Capital Partners

Acquisition Highlights
  • This is Angeles Equity Partners’ 1st transaction in the Electrical Equipment sector.
  • This is Angeles Equity Partners’ 2nd transaction in the United States.
  • This is Angeles Equity Partners’ 1st transaction in California.

M&A Deal Summary
Date 2016-06-01
Target ERP Power
Sector Electrical Equipment
Buyer(s) Angeles Equity Partners
Sellers(s) Convergent Capital Partners
Deal Type Secondary Buyout

Target

ERP Power

Westlake Village, California, United States
ERP Power is a designer and manufacturer of energy-efficient LED driver power electronics for commercial and industrial applications. ERP Power was founded in 2004 and is based in Westlake Village, California.

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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 2 of 16
Sector (Electrical Equipment) 1 of 1
Type (Secondary Buyout) 1 of 4
State (California) 1 of 5
Country (United States) 2 of 15
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-03 Applied Acoustics International

Chicago Heights, Illinois, United States

Applied Acoustics International (AAI) is a Tier 1 supplier of noise, vibration, and harshness (NVH) solutions to the North American automotive industry. AAI occupies a leading market position within the NVH industry, specializing in damper and EVA barrier materials. Applied Acoustics International (AAI) was founded in 1986 and is based in Chicago Heights, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-26 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.

Buy -

Seller(S) 1

SELLER

Convergent Capital Partners

Investor Investor Investor

Category Growth Capital Firm
Founded 1999
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Convergent Capital is a private investment firm that provides growth and debenture financing to late-stage growth companies. Convergent prefers to commit $3 to $12 million per transaction in businesses with at least $10 million in revenues. Convergent is a generalist investor and will consider businesses in a wide range of industries. Investment funds are typically used to assist growth, but the firm can also structure investments around buyouts, recapitalizations, consolidations, and add-on acquisitions. Convergent is licensed as a SBIC. Convergent Capital was formed in 1999 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 30 of 42
Sector (Electrical Equipment) 1 of 1
Type (Secondary Buyout) 6 of 8
State (California) 7 of 8
Country (United States) 30 of 42
Year (2016) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-01 Versare Solutions

Minneapolis, Minnesota, United States

Versare Solutions a manufacturer and e-commerce-based marketer of branded space efficiency and acoustical products. The company offers portable room partitions, privacy screens, workstations, and sound dampening products for use in a wide variety of applications and settings including schools, religious organizations, and healthcare facilities. Its branded products are manufactured at its Minneapolis headquarters and customizable to suit the needs of a highly diverse customer base. Versare Solutions was founded in 2006 and is based in Minneapolis, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-30 America s Powersports

Allen, Texas, United States

America's Powersports is an operator of an auto dealer network for the power sports equipment manufacturers (“OEMs”), including Harley-Davidson, Honda, Yamaha, Kawasaki, Suzuki, Polaris, and Bombardier. America's Powersports was founded in 1998 and is based in Allen, Texas.

Sell -
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