M&A Deal Summary

Arrow Electronics Acquires Asset Recovery

On February 27, 2012, Arrow Electronics acquired environmental company Asset Recovery from RockWood Equity Partners and Granite Partners

Acquisition Highlights
  • This is Arrow Electronics’ 2nd transaction in the Environmental sector.
  • This is Arrow Electronics’ 14th transaction in the United States.
  • This is Arrow Electronics’ 1st transaction in Minnesota.

M&A Deal Summary

Date 2012-02-27
Target Asset Recovery
Sector Environmental
Buyer(s) Arrow Electronics
Sellers(s) RockWood Equity Partners
Granite Partners
Deal Type Add-on Acquisition

Target

Asset Recovery

St. Paul, Minnesota, United States
Asset Recovery is a provider of end-of-life solutions for computer and electronic equipment for businesses and individuals.

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Buyer(S) 1

Buyer

Arrow Electronics

Centennial, Colorado, United States

Category Company
Founded 1935
Sector Distribution
Employees22,100
Revenue 33.1B USD (2023)
DESCRIPTION
Entrance to Arrow Electronics' corporate headquarters in Centennial, Colorado.
Entrance to Arrow Electronics' corporate headquarters in Centennial, Colorado.

Arrow Electronics is a global supplier of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. Arrow's diverse customer base consists of original equipment manufacturers, contract manufacturers, and other commercial customers. These customers include manufacturers of industrial equipment and consumer products serving industries ranging from telecommunications, automotive and transportation, aerospace and defense, medical, professional services, and alternative energy, among others. Arrow Electronics was incorporated in 1935 and is headquartered in Centennial, Colorado.


DEAL STATS #
Overall 22 of 34
Sector (Environmental) 2 of 4
Type (Add-on Acquisition) 18 of 25
State (Minnesota) 1 of 1
Country (United States) 14 of 20
Year (2012) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-18 TechTurn

Austin, Texas, United States

TechTurn Ltd. is a provider of electronics asset disposition (EAD) services that specializes in the processing and sale of technology devices that are returned or recycled from businesses and consumers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-03 Altimate Group SAS

Velizy, France

Altimate Group SAS, is a European value-added distributor of enterprise and midrange computing products, services, and solutions. ALTIMATE offers a comprehensive portfolio of hardware, storage, data management, security, and infrastructure solutions and services.

Buy -

Seller(S) 2

SELLER

RockWood Equity Partners

Shaker Heights, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
Size Small
Type Sector Agnostic
DESCRIPTION

RockWood Equity Partners is a private equity firm looking to acquire profitable lower-middle market North American companies generating sales of $10 to $75 million and EBITDA of $2 to $7 million. Target transaction types include management buyouts, recapitalizations, growth equity financings, and divestitures. Sectors of interest include aerospace, defense, healthcare, industrials/industrial technology, and business services. RockWood Equity Partners was formed in 1999 and is based in Cleveland, Ohio.


DEAL STATS #
Overall 6 of 21
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 2 of 10
State (Minnesota) 1 of 2
Country (United States) 6 of 19
Year (2012) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-07 AFC Industries

College Point, New York, United States

AFC Industries is a provider of supply chain management services and vendor-managed inventory programs to original equipment manufacturers. The company specializes in fasteners and other essential assembly components. It also provides a wide array of value-added services, including kitting, packaging, assembly, and other customization specific to their customers’ needs. AFC Industries was formed in 1987 and is based in College Point, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-24 Astrex Electronics

Plainview, New York, United States

Astrex is a value-added distributor of electronic connectors and accessories used in military and aerospace applications, as well as medical and industrial equipment and other applications requiring high-reliability, ruggedized electronic interconnects.

Sell -
SELLER

Granite Partners

St. Cloud, Minnesota, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Granite Equity Partners is a private equity firm that invests in established companies headquartered in the upper Midwest, with a preference for Minnesota based opportunities. Granite looks for businesses in a wide range of industries and targets management buyouts, recapitalizations, and growth capital financing transactions. Prospective companies generally have revenues between $10 to $100 million and EBITDA between $1 to $5 million. Granite Equity Partners was formed in 2002 and is based in St. Cloud, Minnesota with additional office in Northfield, Minnesota.


DEAL STATS #
Overall 1 of 6
Sector (Environmental) 1 of 2
Type (Add-on Acquisition) 1 of 4
State (Minnesota) 1 of 4
Country (United States) 1 of 6
Year (2012) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-31 Aeration Industries International

Chaska, Minnesota, United States

Aeration Industries International has been combining engineering expertise with patented technologies to develop reliable, customized, surface aeration and mixing wastewater treatment solutions worldwide for more than 40 years. The product line includes the Aire-O2 Triton® Aerator and Mixer, the Aire-O2® Antifouling Aspirator, and systems including The Tri-Oval® Oxidation Ditch, Argos® SBR, and the Aire- O2 Bio-ffilmTM Fixed Film Media System. The equipment and systems help to solve the most challenging industrial and municipal wastewater treatment needs. Aeration Industries has also expanded its market-leading capabilities with the Aire-O2® Series II Aspirator for aquaculture pond treatment. The Series II has proven to optimize oxygen dispersion to support sustainable fish growth across the globe.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-12 Hoonuit

Minneapolis, Minnesota, United States

Hoonuit LLC provides educators with the tools needed to make informed, impactful action. Through solutions that provide intuitive analytics and personalized professional development, Hoonuit fuels teacher, staff and student success. Hoonuit LLC was founded in 2000 and is based in Minneapolis, Minnesota.

Sell $19M