Investment Summary

Citizens Capital and Annex Capital Invest In Sensitech

On August 30, 2000, private equity firms Citizens Capital and Annex Capital invested in business services company Sensitech for 17M USD

Investment Highlights
  • This is Citizens Capital’s 1st and Annex Capital’s 2nd transaction in the Business Services sector.
  • This is Citizens Capital’s and Annex Capital’s largest (disclosed) transaction.
  • This is Citizens Capital’s 2nd and Annex Capital’s 4th transaction in the United States.
  • This is Citizens Capital’s 1st and Annex Capital’s 1st transaction in Massachusetts.
Investment Fate
  • Sensitech was sold to a strategic buyer in 2006.

Investment Summary

Date 2000-08-30
Target Sensitech
Sector Business Services
Investor(s) Citizens Capital
Annex Capital
Deal Type Venture
Deal Value 17M USD

Target

Sensitech

Beverly, Massachusetts, United States
Sensitech offers a robust portfolio of products and services designed to help you monitor and manage the cold chain of the world’s most temperature-sensitive, perishable products: food, pharmaceuticals, biologics, and industrial chemicals.

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Investor(S) 2

Investor

Citizens Capital

Boston, Massachusetts, United States

Category Private Equity Firm
Founded 1997
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Citizens Capital is the private equity affiliate of Citizens Financial and provides both mezzanine and equity capital to later-stage privately-held companies in the US. Citizens looks to commit $3 to $15 million in subordinated debt transactions and $1 to $3 million for growth equity needs. Target sectors include manufacturing, consumer products, distribution, and service-based industries. The Firm's investment horizon is five to seven years. Citizens Capital is based in Boston, Massachusetts.


DEAL STATS #
Overall 2 of 8
Sector (Business Services) 1 of 1
Type (Venture) 1 of 4
State (Massachusetts) 1 of 4
Country (United States) 2 of 8
Year (2000) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 Norcross Safety Products

Cranston, Rhode Island, United States

Norcross Safety Products a designer, manufacturer and marketer of branded products in the personal protection equipment industry. The Company manufactures and markets a full line of personal protection equipment for workers in the general safety, domestic preparedness, fire service and utility/high voltage industries. The Company sells products under trusted, long-standing and well-recognized brand names, including North, Morning Pride, Ranger, Servus, Pro-Warrington and Salisbury.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-12-19 SSG Precision Optronics

Wilmington, Massachusetts, United States

SSG Precision Optronics, Inc. is a designer and supplier of sophisticated optical systems for prime contractors that provide satellite and tactical systems for the military and government.

Buy -
Investor

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 4 of 9
Sector (Business Services) 2 of 2
Type (Venture) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 4 of 9
Year (2000) 2 of 4
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-04-01 DTN

Omaha, Nebraska, United States

DTN is a providor of time-sensitive, specialized meteorological and business information, analysis and integration tools to over a dozen different market segments using a combination of internet, satellite and direct data-feed.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-09-20 VCA

Los Angeles, California, United States

VCA, Inc. is an animal healthcare company operating in the United States and Canada. VCA provides veterinary services and diagnostic testing to support veterinary care, sells diagnostic imaging equipment and other medical technology products and related services to the veterinary market and provide various communication, marketing solutions and other services to the veterinary community. VCA provides pharmaceutical products and performs a variety of pet wellness programs including health examinations, diagnostic testing, routine vaccinations, spaying, neutering and dental care. VCA, Inc. was formed in 1986 and is based in Los Angeles, California.

Buy -