M&A Deal Summary

Audax Private Equity and BNP Paribas Developpement Acquire Luminator

On April 8, 2014, private equity firm Audax Private Equity and growth capital firm BNP Paribas Developpement acquired technology hardware company Luminator from Levine Leichtman Capital Partners

Acquisition Highlights
  • This is Audax Private Equity’s 2nd and BNP Paribas Developpement’s 1st transaction in the Technology Hardware sector.
  • This is Audax Private Equity’s 68th and BNP Paribas Developpement’s 1st transaction in the United States.
  • This is Audax Private Equity’s 7th and BNP Paribas Developpement’s 1st transaction in Texas.

M&A Deal Summary

Date 2014-04-08
Target Luminator
Sector Technology Hardware
Buyer(s) Audax Private Equity
BNP Paribas Developpement
Sellers(s) Levine Leichtman Capital Partners
Deal Type Secondary Buyout
Advisor(s) Robert W. Baird & Co., Inc. (Financial)
Weil Gotshal & Manges (Legal)

Target

Luminator

Plano, Texas, United States
Luminator is a provider of advanced information systems and LED displays and lighting products for a wide range of applications in metropolitan and commercial transportation systems, including systems for the rail, bus, and aerospace industries. Luminator was founded in 1928 and is based in Plano, Texas.

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Buyer(S) 2

Buyer

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 70 of 167
Sector (Technology Hardware) 2 of 3
Type (Secondary Buyout) 24 of 72
State (Texas) 7 of 16
Country (United States) 68 of 158
Year (2014) 6 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-04 CURT Group

Eau Claire, Wisconsin, United States

CURT Group is a designer, manufacturer, and distributor of towing solutions, and trailer and cargo management accessories for passenger vehicles and trucks. Its products are sold through installers, distributors, e-commerce, retail, and auto dealer channels. CURT Group was founded in 1994 and is based in Eau Claire, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-09 Wheel Pros

Lakewood, Colorado, United States

Wheel Pros is a designer, marketer, and distributor of branded automotive aftermarket wheels, performance tires, and accessories. Wheel Pros was founded in 1995 and is based in Lakewood, Colorado.

Buy -
DESCRIPTION

BNP Paribas Developpement is the growth-oriented development arm of financial services firm and bank BNP Paribas. BNP Paribas Developpement supports a range of lower middle-market companies and looks to invest in minority positions to support growth. BNP Paribas Developpement was formed in 1988 and is based in Paris, France.


DEAL STATS #
Overall 4 of 21
Sector (Technology Hardware) 1 of 1
Type (Secondary Buyout) 2 of 6
State (Texas) 1 of 1
Country (United States) 1 of 2
Year (2014) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-18 Unipex Group

Paris, France

Unipex Group is a developer, manufacturer, and marketer of more than 2000 value-added products for the cosmetics, pharmaceutical, chemical and nutrition industries, Its ‘Active Ingredients and Specialty Chemicals’ division develops and produces innovative active ingredients, in addition to distributing active ingredients and special chemicals on behalf of third parties. Unipex Group was founded in 1968 and is based in Paris, France.

Buy €20M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-19 Avidsen

Tours, France

Avidsen designs and distributes solutions and connected equipment for individuals and professionals. Avidsen markets a wide range of products through different brands. Avidsen is based in Tours, France.

Buy €24M

Seller(S) 1

SELLER

Levine Leichtman Capital Partners

Beverly Hills, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1984
PE ASSETS 12.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Levine Leichtman Capital Partners (LLCP) is a West Coast US based private investment firm that targets mezzanine and other structured equity investments in middle-market companies. The Firm has several funds, each with different strategies. LLCP's larger fund targets subordinated debt, preferred equity, and/or common equity investments in companies with $100 to $750 million of revenue. The Firm's smaller fund invests $5 to $15 million in emerging companies with less than $25 million in revenue. LLCP also invests in financially distressed businesses. LLCP was formed in 1984 and has offices in Beverly Hills, California; Chicago, Illinois; Dallas, Texas; New York City; and London.


DEAL STATS #
Overall 15 of 56
Sector (Technology Hardware) 1 of 3
Type (Secondary Buyout) 5 of 30
State (Texas) 2 of 9
Country (United States) 15 of 51
Year (2014) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-31 Nobles Worldwide

St. Croix Falls, Wisconsin, United States

Nobles Worldwide, Inc. is the largest supplier of ammunition feed systems to all branches of the U.S. military and its allies. Nobles are recognized globally for their superior durability products, cutting-edge designs, and rigorous quality assurance. Nobles Worldwide offer lighter, stronger and more flexible materials used in ammunition chutes, magazines, gun mounts, and weapon stations. Nobles are based in St. Croix Falls, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-16 Carpets N More

Henderson, Nevada, United States

Floors N More LLC is a provider of high-quality flooring products and flooring installation services to the home builder and consumer markets in Southern Nevada. The Company sells and installs carpet, vinyl, tile, natural stone and other floor covering and home furnishings to home builders, such as KB Home, for their Southern Nevada development projects, as well as to individual consumers at its three retail locations in the Las Vegas Valley.

Sell -