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M&A Deal Summary

Atlas Holdings and Fulcrum Capital Partners Acquire EQI

On May 28, 2019, private equity firms Atlas Holdings and Fulcrum Capital Partners acquired distribution company EQI from MSouth Equity Partners

Acquisition Highlights
  • This is Atlas Holdings’ 2nd and Fulcrum Capital Partners’ 3rd transaction in the Distribution sector.
  • This is Atlas Holdings’ 22nd and Fulcrum Capital Partners’ 1st transaction in the United States.
  • This is Atlas Holdings’ 4th and Fulcrum Capital Partners’ 1st transaction in Michigan.

M&A Deal Summary
Date 2019-05-28
Target EQI
Sector Distribution
Buyer(s) Atlas Holdings
Fulcrum Capital Partners
Sellers(s) MSouth Equity Partners
Deal Type Secondary Buyout

Target

EQI

Spring Lake, Michigan, United States
EQI is a supply-chain management company specializing in the procurement and distribution of metal components and sub-assemblies. The Company's business model combines a unique blend of outsourced procurement services and distribution / inventory management. EQI sources products from an extensive series of manufacturers located in China and provides a variety of services including engineering support, quality control, and logistics management among others. EQI was founded in 2004 and is based in Spring Lake, Michigan.

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Buyer(S) 2

Buyer

Atlas Holdings

Greenwich, Connecticut, United States
Category Private Equity Firm
Founded 2002
Size Large
Type Sector Agnostic
DESCRIPTION

Atlas Holdings is a private equity and investment holding firm focused on acquiring controlling interests in businesses operating in traditional, basic industries. Areas of interest include automotive, business services, industrial services, building materials, pulp and paper, distribution, energy, packaging, specialty steel and wood products. The Firm will participate in bankruptcy investments, highly structured equity and debt investments, leveraged ESOP acquisitions, out-of-court restructurings, and roll-ups. Atlas typically partners with private and institutional investors and structures one investment at a time. Atlas Holdings was established in 2002 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 26 of 40
Sector: Distribution M&A 2 of 2
Type: Secondary Buyout M&A Deals 3 of 5
State: Michigan M&A 4 of 6
Country: United States M&A 22 of 32
Year: 2019 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-30 International Wire Group

Camden, New York, United States

International Wire Group is a designer and manufacturer of highly-engineered copper-based wire products. IWG’s products are utilized in end markets such as industrial and energy, electronics and data communications, automotive and specialty vehicles, aerospace and defense, medical products and consumer and appliance industries. International Wire Group was formed in 1995 and is based in Camden, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-08 Flagstone Foods

Minneapolis, Minnesota, United States

Flagstone Foods is a manufacturer and distributor of private-label snacks for retailers and foodservice providers. The Company produces a range of nuts, trail mixes, and dried fruit products, offering product development, roasting, seasoning, and packaging capabilities. Flagstone Foods was founded in 2010 and is headquartered in Minneapolis, Minnesota.

Buy $90M
Buyer

Fulcrum Capital Partners

Vancouver, British Columbia, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2011
PE ASSETS 1.0B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

Fulcrum Capital Partners is a private equity firm focused on middle-market company acquisitions in Canada. The Firm looks to invest $10 to $35 million in companies generating up to $250 million in revenue. Industries of interest include services, manufacturing, consumer products, distribution, food, and retail. Prospective transaction situations include successions, growth capital financings, consolidations, buyouts, take privates, and pre-IPO financings. Fulcrum Capital Partners was formed in 2011 and is based in Vancouver, British Columbia.

DEAL STATS #
Overall 30 of 38
Sector: Distribution M&A 3 of 4
Type: Secondary Buyout M&A Deals 1 of 1
State: Michigan M&A 1 of 1
Country: United States M&A 1 of 2
Year: 2019 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-25 NLS

Mississauga, Ontario, Canada

NLS is a logistics provider for fashion, footwear, actionwear and general merchandise. Our services extend to both distributed Brand retailers and retail chains alike, and in many instances, we manage these in the same campus to align complimentary business needs. NLS offers automation and a technical infrastructure for optimum through-put and speed-to-market, typically not available with third party logistics providers. NLS was founded in 1967 and is based in Mississauga, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-13 Arctic

Brampton, Ontario, Canada

Arctic is a manufacturer of modular and high efficiency chillers that are utilized in commercial and industrial cooling applications in North America. Our products include modular chillers, magnetic bearing chillers, heat recovery chillers, critical duty chillers and modules, industrial process chillers and refrigeration systems, and optimized chiller-plant controllers. Arctic was founded in 1989 and is based in Brampton, Ontario.

Sell -

Seller(S) 1

SELLER

MSouth Equity Partners

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

MSouth Equity Partners is a private equity firm focused on mid-sized company investments and acquisitions valued between $25 and $250 million. The Firm prefers opportunities in Southern US and looks to commit $25 to $100 million per transaction. Sectors of interest include distribution, business services, media, telecom, and specialty manufacturing. MSouth is the successor to private equity firm, Cravey, Green & Wahlen, Inc. which was founded in 1984. MSouth Equity Partners is based in Atlanta, Georgia.

DEAL STATS #
Overall 20 of 36
Sector: Distribution M&A 3 of 3
Type: Secondary Buyout M&A Deals 9 of 15
State: Michigan M&A 1 of 1
Country: United States M&A 20 of 36
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-04 Catalyst Nutraceuticals

Alpharetta, Georgia, United States

Catalyst Nutraceuticals is a contract manufacturer of dietary and nutrition supplements. The company delivers high service levels across the value chain to small to large-sized supplements brands primarily in the sports nutrition, herbal and vitamin product categories. In addition to traditional manufacturing, Catalyst also provides services such as custom formulation and proprietary flavoring, creating strategic relationships with its customers. Catalyst Nutraceuticals was founded in 2015 and is based in Buford, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-21 BIG Language Solutions

Atlanta, Georgia, United States

BIG Language Solutions is a provider of translation, interpretation, and related language services. The company’s sales and acquisition focus is centered on regulated verticals including legal, financial services, life sciences, and advanced manufacturing. BIG Language Solutions was founded in 2019 and is based in Atlanta, Georgia.

Buy -
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