M&A Deal Summary

Atlantic Pacific Automotive Acquires Keltner

On April 1, 2009, Atlantic Pacific Automotive acquired distribution company Keltner from Gen Cap America and Patriot Capital

Acquisition Highlights
  • This is Atlantic Pacific Automotive’s 1st transaction in the Distribution sector.
  • This is Atlantic Pacific Automotive’s 1st transaction in the United States.
  • This is Atlantic Pacific Automotive’s 1st transaction in Missouri.

M&A Deal Summary

Date 2009-04-01
Target Keltner
Sector Distribution
Buyer(s) Atlantic Pacific Automotive
Sellers(s) Gen Cap America
Patriot Capital
Deal Type Add-on Acquisition
Advisor(s) CIT Capital Markets
Piper Sandler & Co. (Financial)

Target

Keltner

Springfield, Missouri, United States
Keltner is a distributor of motor oil, chemicals and parts to an expansive customer base. Keltner was founded in 1952 and is located in Springfield, Missouri.

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Buyer(S) 1

Buyer

Atlantic Pacific Automotive

Germantown, Tennessee, United States

Category Company
Founded 1952
Sector Automotive
DESCRIPTION

Atlantic Pacific Automotive is one of America's largest independent discount automotive parts suppliers. Founded in 1952, Atlantic Pacific is a global supplier of automotive chemicals, parts and accessories to automotive parts jobbers and redistributors. Atlantic Pacific is headquartered in Germantown, Tenn. www.apauto.com


DEAL STATS #
Overall 1 of 1
Sector: Distribution M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Missouri M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2009 M&A 1 of 1

Seller(S) 2

SELLER

Gen Cap America

Nashville, Tennessee, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 250M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Gen Cap America, Inc. is a private investment firm focused on acquisitions and recapitalization of mid-sized businesses. Gen Cap looks to invest in privately held companies or non-core divestitures generating $10 to $200 million in annual revenues. Gen Cap prefers businesses operating in basic industries, such as manufacturing, distribution, and services. The Firm avoids investing in real estate or 'high-tech' businesses. Gen Cap America was formed in 1988 and is based in Nashville, Tennessee.


DEAL STATS #
Overall 4 of 30
Sector: Distribution M&A 1 of 7
Type: Add-on Acquisition M&A Deals 3 of 15
State: Missouri M&A 1 of 1
Country: United States M&A 4 of 30
Year: 2009 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-03-13 Hobby-Lobby International

Brentwood, Tennessee, United States

Hobby Lobby is a distributor and retailer of model airplanes, helicopters, boats and accessories. The company was founded in 1964 and is located in Brentwood, Tennessee. Hobby Lobby sells its merchandise over the Internet, through mail-order catalogs, walk-in traffic and other smaller hobby shops.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-05-01 Street & Co.

Alexandria, Virginia, United States

Street & Co. is a multimedia systems integration firm focused on the engineering, design, installation and service of audiovisual, videoconferencing, data center cabling, video-streaming, and digital signage solutions. Street & Co. was founded in 1991 and is based in Alexandria, Virginia.

Buy -
SELLER

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $5 to $25 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.


DEAL STATS #
Overall 7 of 55
Sector: Distribution M&A 1 of 2
Type: Add-on Acquisition M&A Deals 6 of 32
State: Missouri M&A 1 of 3
Country: United States M&A 7 of 55
Year: 2009 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-02-02 International Development

Roanoke, Texas, United States

International Development LLC is one of the world's largest manufacturers of consumer and industrial green energy solutions. We sell the products and accessories that give people energy alternatives. Solar energy is rapidly becoming the energy option for many in today's world. At International Development LLC, we are working to offer innovative products to meet those needs. International Development LLC products can be found in most major retailers as well as wholesale clubs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-05-01 Terracare Associates

Littleton, Colorado, United States

Terracare Associates is a leading provider of commercial landscape and public infrastructure management services. Terracare Associates provides a diverse range of services to institutional, industrial, commercial and municipal customers, including outsourced road and park maintenance, general landscape services, irrigation management, snow/ice removal, and aquatic/lake management services. Terracare Associates was founded in 1975 and is based in Littleton, Colorado.

Buy -