M&A Deal Summary

Ares Private Equity Group Acquires Earth Color Group

On September 1, 2006, private equity firm Ares Private Equity Group acquired publishing company Earth Color Group from Tulcan and Monitor Clipper Partners

Acquisition Highlights
  • This is Ares Private Equity Group’s 1st transaction in the Publishing sector.
  • This is Ares Private Equity Group’s 18th transaction in the United States.
  • This is Ares Private Equity Group’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2006-09-01
Target Earth Color Group
Sector Publishing
Buyer(s) Ares Private Equity Group
Sellers(s) Tulcan
Monitor Clipper Partners
Deal Type Secondary Buyout

Target

Earth Color Group

Parsippany, New Jersey, United States
EarthColor Group,is a service provider of prepress, sheet-fed, web-fed printing and bindery/finishing services, with operations in New York City, northern New Jersey and Florida.

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Buyer(S) 1

Buyer

Ares Private Equity Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2003
PE ASSETS 20.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ares Private Equity Group is the private equity arm of Ares Management, a global alternative asset manager. The Ares Private Equity Group specializes in opportunistic majority/shared control investments in under-capitalized middle-market companies. Ares looks for companies with strong franchises and attractive growth opportunities. The Group prefers to be the lead investor and will invest across the capital structure, including common equity, preferred equity, convertible equity/debt and senior debt. Areas of interest include business services, defense, healthcare, manufacturing, industrial, energy and consumer products and services. Ares Private Equity Group was formed in 2003 and is based in Los Angeles, California.

DEAL STATS #
Overall 19 of 98
Sector (Publishing) 1 of 1
Type (Secondary Buyout) 5 of 39
State (New Jersey) 1 of 4
Country (United States) 18 of 82
Year (2006) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-08 Penn Detroit Diesel Allison

York Haven, Pennsylvania, United States

PDDA is today among the largest authorized distributors of Detroit Diesel engines and parts; Allison Transmission automatic transmissions and parts; Carrier Transicold trailer mobile refrigeration units and parts; MTU/DDC standby power generation units and parts; and GE Jenbacher gas-fired power generators and parts.

Buy $59M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-02 EXCO

Dallas, Texas, United States

EXCO is an oil and natural gas company engaged in the exploitation, exploration, acquisition, development and production of onshore U.S. oil and natural gas properties with a focus on shale resource plays. EXCO Resources based in Dallas, Texas.

Sell -

Seller(S) 2

SELLER

Tulcan

Houston, Texas, United States

Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 100M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Tulcan LP is a private equity firm that looks to partner with management in investing in private companies operating in basic industries. Tulcan targets businesses valued between $5 and $15 million, where the Firm can commit $2 to $12 million per transaction. Sectors of interest include information technology, business services, oilfield services, commercial printing, manufacturing, chemicals, food, distribution, heavy equipment, and machining/metal fabrication. The Firm prefers US-based opportunities. Tulcan LP is based in Houston, Texas.

DEAL STATS #
Overall 2 of 5
Sector (Publishing) 1 of 1
Type (Secondary Buyout) 2 of 2
State (New Jersey) 1 of 1
Country (United States) 2 of 5
Year (2006) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-26 AeroCision

Chester, Connecticut, United States

AeroCision is a manufacturer of machine and fabricated precision components for gas turbine engines used in military, commercial and industrial applications, including aircraft, helicopters, and tanks. AeroCision was founded in 1958 and is based in Chester, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-18 Equisales Associates

Houston, Texas, United States

Equisales Associates is a provider of transformers, high voltage switchgear, and power production equipment. The company provides domestic and international utilities, power plants and industrial customers with time-critical high-voltage transformers and substation equipment while delivering quality engineered solutions, installation and maintenance services. Equisales Associates was founded in 1992 and is based in Houston, Texas.

Buy -
SELLER

Monitor Clipper Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Monitor Clipper Partners (MCP) is a private equity group formed by consulting firm The Monitor Group and private equity firm The Clipper Group. MCP targets private equity investments in middle-market companies in North America and Western Europe and looks to commit $10 to $70 million of equity per transaction. MCP does not focus on any particular sector but current portfolio companies suggest an interest in business services, natural/organic foods, specialty retail, health care services, gaming, logistics, mortgage technology, marketing services, financial services and metals. The Firm will consider both control and minority positions. Monitor Clipper Partners was formed in 1998 and is based in Cambridge, Massachusetts with additional offices in Zurich, Switzerland, Toronto, Canada, Luxembourg and London, United Kingdom.

DEAL STATS #
Overall 12 of 35
Sector (Publishing) 2 of 3
Type (Secondary Buyout) 2 of 12
State (New Jersey) 2 of 3
Country (United States) 9 of 28
Year (2006) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-03 Earth Fare

Asheville, North Carolina, United States

Earth Fare is a supermarket operator providing all-natural, organic, premium and specialty foods and products in the southeastern United States. Earth Fare was founded in 1975 and is based in Asheville, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-09 TravelCenters of America

Westlake, Ohio, United States

TravelCenters of America is a full-service travel center network operating TA, Petro Stopping Centers, and TA Express brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists. It operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet and Country Pride. TravelCenters of America was founded in 1972 and is based in Westlake, Ohio.

Sell -
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