Investment Summary

Annex Capital, Wynnchurch Capital and Court Square Capital Partners Exit JAC Products

On October 31, 2016, private equity firm Argonaut Private Equity and family office Hall Capital Partners invested in automotive company JAC Products from Annex Capital, Wynnchurch Capital and Court Square Capital Partners

Investment Highlights
  • This is Argonaut Private Equity’s 1st and Hall Capital Partners’ 2nd transaction in the Automotive sector.
  • This is Argonaut Private Equity’s 12th and Hall Capital Partners’ 6th transaction in the United States.
  • This is Argonaut Private Equity’s 1st and Hall Capital Partners’ 1st transaction in Michigan.

Investment Summary

Date 2016-10-31
Target JAC Products
Sector Automotive
Investor(s) Argonaut Private Equity
Hall Capital Partners
Sellers(s) Annex Capital
Wynnchurch Capital
Court Square Capital Partners
Deal Type Secondary Buyout

Target

JAC Products

Pontiac, Michigan, United States
JAC Products is a global designer and manufacturer of original equipment roof racks systems, with expanded product offerings in cargo management systems, running boards and steps rails. The company supplies OEM manufacturers worldwide with engineering, sales, manufacturing, and partnership locations in North America, Europe, China, Japan and South America. JAC Products was founded in 1967 and is based in Pontiac, Michigan.

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Investor(S) 2

Investor

Argonaut Private Equity

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Argonaut Private Equity is a private equity firm focused on control investments in entrepreneur and family-owned businesses headquartered in the middle region of the US. The Firm seeks industrial oriented manufacturing, distribution, and service companies with revenue between $20 and $300 million and EBITDA between $5 and $50 million. Argonaut typically commits $15 to $100 million per transaction to support buy-outs, distressed and special situations, growth needs, and divestitures. Argonaut Private Equity was founded in 2002 and is based in Tulsa, Oklahoma.


DEAL STATS #
Overall 12 of 38
Sector: Automotive M&A 1 of 2
Type: Secondary Buyout M&A Deals 1 of 2
State: Michigan M&A 1 of 2
Country: United States M&A 12 of 38
Year: 2016 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-15 Pivot3

Austin, Texas, United States

Pivot3 is a provider of dynamic hyper-converged infrastructure solutions and predictable flash storage. Pivot3’s patented solutions dramatically improve data center simplicity and economics by increasing scale-out performance, driving down complexity and cost, saving an extraordinary amount of disk and physical space and ensuring fault tolerance. With Pivot3’s unique Quality of Service and Virtualization Management capabilities, customers are able to prioritize data and application performance based on business value. Today, Pivot3 has more than 2,000 customers around the world deploying more than 16,000 globally hyper-converged infrastructures in multiple industries such as video surveillance, healthcare, government, transportation, entertainment, education, gaming and retail. Pivot3 was founded in 2002 and is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-08 Miratech

Tulsa, Oklahoma, United States

Miratech is a provider of cost-effective, reliable, and mission critical emission and acoustical solutions for stationary natural gas and diesel reciprocating engines. Its reputation is associated with a customer centric consulting approach, advanced engineering expertise, extensive industry knowledge, project management, responsiveness, and quality products. These attributes have enabled MIRATECH to be highly adaptable, and thus, able to accommodate both small (HP < 300) and large stationary engine applications (up to 14,000 horsepower). Miratech was founded in 1992 and is based in Tulsa, Oklahoma.

Buy -
DESCRIPTION

Hall Capital Partners is a family-backed private investment firm focused on real estate and private equity investing. The Firm's private equity group was formed in 2006 and looks to invest $2 to $25 million to support a variety of majority or minority investments including buyouts, recapitalizations, growth capital financings, divestitures, and shareholder liquidity needs. Broad sectors of interest include manufacturing, distribution, and services. The Firm prefers opportunities located in the Midwest, but will consider opportunities across the US. Hall Capital Partners is based in Oklahoma City, Oklahoma.


DEAL STATS #
Overall 6 of 7
Sector: Automotive M&A 2 of 2
Type: Secondary Buyout M&A Deals 1 of 1
State: Michigan M&A 1 of 2
Country: United States M&A 6 of 7
Year: 2016 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-17 4Knines

Glendale, Arizona, United States

4Knines markets a full line of fabric-based protective liners and seat covers for autos, trucks and other motor vehicles. Company strive to provide customers with an all around exceptional customer experience. Not only do company provide top notch products also provide fast, free shipping, 100% satisfaction guarantee, and a lifetime warranty on cargo liners and seat covers. 4Knines is based in Glendale, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-10 Modineer

Niles, Michigan, United States

Modineer manufactures steel, aluminum, and stainless metal components for defense, automotive, and construction/agriculture markets in the United States. Modineer was founded in 1940 and is based in Niles, Michigan.

Buy -

Seller(S) 3

SELLER

Annex Capital

New York, New York, United States

Category Private Equity Firm
Founded 2004
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Annex Capital Management is a private investment firm focused on secondary private equity transactions and special situations opportunities. Annex is sector agnostic with an emphasis on consumer products, including food and beverage, information services, telecommunications and specialized manufacturing. Annex was formed in 2004 with the spinout of Dresdner Bank's direct investment portfolio into a new secondary firm backed by Coller Capital. Annex Capital is based in New York City.


DEAL STATS #
Overall 13 of 13
Sector: Automotive M&A 3 of 3
Type: Secondary Buyout M&A Deals 4 of 4
State: Michigan M&A 2 of 2
Country: United States M&A 13 of 13
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-29 HyperCube Telecom

Lancaster, Texas, United States

HyperCube is a privately held company headquartered in Dallas, Texas. We are a premier provider of local and national tandem services in the middle mile to carriers throughout the United States.

Sell -
SELLER

Wynnchurch Capital

Rosemont, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 9.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Wynnchurch Capital is a private equity firm focused on middle-market company investments in the US and Canada. Wynnchurch looks to commit $50 to $750 million of equity per platform. Sectors of interest include manufacturing, business services, logistics, energy and power services, and value-added distribution. Prospective transaction types include management buyouts, recapitalizations, corporate carve-outs, restructurings, turnarounds and growth capital situations. Wynnchurch Capital was formed in 1999 and is based in Rosemont, Illinois.


DEAL STATS #
Overall 14 of 39
Sector: Automotive M&A 5 of 7
Type: Secondary Buyout M&A Deals 8 of 18
State: Michigan M&A 5 of 6
Country: United States M&A 12 of 32
Year: 2016 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-15 United States Pipe and Foundry Co.

Birmingham, Alabama, United States

United States Pipe and Foundry Co., LLC is a manufacturer of ductile iron pipe products, fittings and joint restraints used in drinking water and wastewater systems. U.S. Pipe operates 20 manufacturing and fabrication facilities throughout the United States and Mexico. U.S. Pipe has a comprehensive product portfolio supported by strong brand recognition among customers through product innovation and a reputation for quality and service.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-07 Rosboro

Springfield, Oregon, United States

Rosboro is a manufacturer of engineered wood products used in residential and light commercial construction, including stock and custom glued laminated timber and a variety of other lumber products. Rosboro was founded in 1939 and is based in Springfield, Oregon.

Buy -
SELLER

Court Square Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 7.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Court Square Capital Partners (CSCP) is a generalist private equity firm that seeks middle market company investments across the US. CSCP looks to partner with management teams to accelerate revenue growth and improve operating efficiency. Sectors of interest include business services, building products, chemicals, consumer products, food products/services, healthcare, aerospace/defense, manufacturing, media, technology, telecommunications, and transportation. Court Square Capital Partners was formerly known as Citigroup Venture Capital Equity Partners. The Group spun out of Citigroup and became independent in 2006. CSCP is based in New York City.


DEAL STATS #
Overall 37 of 57
Sector: Automotive M&A 2 of 2
Type: Secondary Buyout M&A Deals 7 of 19
State: Michigan M&A 2 of 2
Country: United States M&A 34 of 54
Year: 2016 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-14 Terra Millennium

Salt Lake City, Utah, United States

Terra Millennium is an Industrial Services business whose subsidiaries perform services from twenty-three locations in the United States and Canada. TMC services the power generation, refining, petrochemical, mining, solar, mineral processing, and steel industries nationwide. Terra Millennium was founded in 1987 and is based in Salt Lake City, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-07 Thrive Networks

Foxborough, Massachusetts, United States

Thrive Networks is a managed services provider, delivers a portfolio of outsourced technology services that included cloud, hosting, security, disaster recovery, backup, replication, network management, device management, storage, virtualization and more. For nearly two decades, Thrive has leveraged leading vendor technologies, its vast technical engineering talent and a fanatical dedication to client support to service hundreds of mid-market customers across the United States. Thrive Networks was founded in 2000 and is based in Foxborough, Massachusetts.

Buy -