M&A Deal Summary

Astatine Investment Partners Acquires ACL AirShop

On April 22, 2021, infrastructure investor Astatine Investment Partners acquired aerospace company ACL AirShop from Azalea Capital, Balance Point Capital Partners, ORIX Private Equity Solutions and Ranger Aerospace

Acquisition Highlights
  • This is Astatine Investment Partners’ 1st transaction in the Aerospace sector.
  • This is Astatine Investment Partners’ 13th transaction in the United States.
  • This is Astatine Investment Partners’ 1st transaction in South Carolina.

M&A Deal Summary

Date 2021-04-22
Target ACL AirShop
Sector Aerospace
Buyer(s) Astatine Investment Partners
Sellers(s) Azalea Capital
Balance Point Capital Partners
ORIX Private Equity Solutions
Ranger Aerospace
Deal Type Secondary Buyout

Target

ACL AirShop

Greenville, South Carolina, United States
ACL AirShop is a manufacturer of air cargo nets, straps, and assemblies and sells, leases, and repairs air cargo unit loading devices. ULDs are broadly defined as any platform used to facilitate the movement of air cargo. ACL AirShop was founded in 1979 and is based in Greenville, South Carolina.

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Buyer(S) 1

Buyer

Astatine Investment Partners

Greenwich, Connecticut, United States

Category Infrastructure
Founded 2005
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Alinda Capital Partners is a private investment firm specializing in the acquisition of infrastructure assets in North America and Europe. Alinda looks for assets with predictable cash flows, strategic competitive advantages, and limited commodity or merchant risk. Specific sectors of interest include roads, bridges and tunnels; airports, ports and rail; water supply and wastewater treatment; gas transportation, storage and distribution; power generation and electric transmission; and utility services for residential, commercial and industrial customers. Alinda Capital Partners was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 20 of 23
Sector (Aerospace) 1 of 1
Type (Secondary Buyout) 8 of 11
State (South Carolina) 1 of 1
Country (United States) 13 of 14
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-05 Peco Pallet

Itasca, Illinois, United States

Peco Pallet engages in transportation and logistics services in North America. Peco Pallet owns a pool of approximately 20 million wood block pallets that primarily serve food and beverage manufacturers in shipping their goods in a cost-effective manner. Peco Pallet was established in 1997 and is based in Itasca, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-21 BCTN

Nijmegen, Netherlands

BCTN is the main inland container terminal network in the Benelux with terminals in Alblasserdam, Beringen (Belgium), Geel (Belgium), Den Bosch, Nijmegen, Roermond, Venray and Meerhout (Belgium). Since its foundation in 1987, BCTN has been working on sustainable transport via European inland waterways.

Sell -

Seller(S) 4

SELLER

Azalea Capital

Greenville, South Carolina, United States

Investor Investor Investor


Category Private Equity Firm
Founded 1995
Size Small
Type Sector Agnostic
DESCRIPTION

Azalea Capital is a private investment firm focused on providing equity capital to privately owned middle-market companies located in the Southeast US. Prospective transaction situations include management buyouts, divestitures, recapitalizations, and growth financings. Target companies typically have at least $10 million in revenue and are profitable with up to $8 million of EBITDA. Sectors of interest include niche manufacturing, value-added distribution, business services, consumer products, and healthcare. Azalea was formed in 1995 and is based in Greenville, South Carolina.


DEAL STATS #
Overall 11 of 15
Sector (Aerospace) 1 of 1
Type (Secondary Buyout) 4 of 5
State (South Carolina) 4 of 5
Country (United States) 11 of 15
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-31 The Muffin Mam

Simpsonville, South Carolina, United States

The Muffin Mam is a manufacturer of baked goods, producing creme cakes, muffins, pound cakes, brownies, and angel food cakes. The Muffin Mam was founded in 1990 and is based in Simpsonville, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-10 The Muffin Mam

Simpsonville, South Carolina, United States

The Muffin Mam is a manufacturer of baked goods, producing creme cakes, muffins, pound cakes, brownies, and angel food cakes. The Muffin Mam was founded in 1990 and is based in Simpsonville, South Carolina.

Sell -
SELLER

Balance Point Capital Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2007
PE ASSETS 1.7B USD
Size Small
Type Sector Agnostic
DESCRIPTION

Balance Point Capital Advisors is a provider of equity and debt capital to middle-market US-based companies. The Firm looks to invest $5 to $30 million in companies generating $10 $150 million in revenue. The Firm invest in the range of $15 to $75 million with and enterprise value of $10 to $150 million. Funds are used to support a variety of needs, including private equity sponsored buyouts, strategic acquisitions, refinancing's, management buyouts, leveraged recapitalizations, and growth capital financing needs. Balance Point Capital is based in Westport, Connecticut.


DEAL STATS #
Overall 12 of 16
Sector (Aerospace) 2 of 2
Type (Secondary Buyout) 5 of 7
State (South Carolina) 2 of 2
Country (United States) 12 of 16
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-17 Wholesome Sweeteners

Sugar Land, Texas, United States

Wholesome Sweeteners is a provider of organic and Fair Trade certified sweeteners both as ingredients to organic food and beverage brands and as branded products in the retail channel.

Sell $180M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-31 Raw Sugar

Los Angeles, California, United States

Raw Sugar is an aspirational lifestyle brand that seeks to make clean beauty and healthy living products affordable, supporting the company’s belief that people are only as beautiful as they feel. Raw Sugar was founded in 2014 and is based in Los Angeles, California.

Buy -
DESCRIPTION

ORIX Mezzanine & Private Equity is the direct investment arm of asset manager ORIX. ORIX Mezzanine & Private Equity looks to invest $10 to $20 million to support buyouts, acquisitions, growth capital needs, and sponsored led transactions of profitable (greater than $5 million of EBITDA) companies throughout North America. ORIX will consider a variety of investment structures, including subordinated and convertible debt to common, preferred and convertible preferred equity. ORIX Mezzanine & Private Equity is headquartered in Dallas, Texas.


DEAL STATS #
Overall 16 of 21
Sector (Aerospace) 1 of 1
Type (Secondary Buyout) 4 of 7
State (South Carolina) 1 of 1
Country (United States) 14 of 19
Year (2021) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-20 LCR Contractors

Hutto, Texas, United States

LCR Contractors specializes in providing spray applied to fireproof and spray thermal insulation services to commercial and residential construction projects. LCR Contractors was founded in 1984 and is based in Hutto, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-02 L&S Mechanical

Richardson, Texas, United States

L&S Mechanical is a provider of new home construction services in the plumbing and electrical industries. L&S Mechanical serves large production homebuilders in Dallas / Fort Worth, Houston, San Antonio, and Austin through its five production warehouses. L&S Mechanical was founded in 1985 and is based in Richardson, Texas.

Sell -
SELLER

Ranger Aerospace

Greenville, South Carolina, United States

Category Company
Founded 1997
Sector Aerospace
DESCRIPTION
Ranger Aerospace's headquarters in Greenville, South Carolina.
Ranger Aerospace's headquarters in Greenville, South Carolina.

Ranger Aerospace is a components overhaul and retrofit company serving commercial airline fleets specializing in aerospace operations and aviation services. Ranger Aerospace was founded in 1997 and is based in Greenville, South Carolina.


DEAL STATS #
Overall 1 of 1
Sector (Aerospace) 1 of 1
Type (Secondary Buyout) 1 of 1
State (South Carolina) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-30 ACL AirShop

Greenville, South Carolina, United States

ACL AirShop is a manufacturer of air cargo nets, straps, and assemblies and sells, leases, and repairs air cargo unit loading devices. ULDs are broadly defined as any platform used to facilitate the movement of air cargo. ACL AirShop was founded in 1979 and is based in Greenville, South Carolina.

Buy -