M&A Deal Summary

Axia Partners and Massachusetts Capital Resources Company Acquire Segue Manufacturing Services

On February 5, 2008, private equity firm Axia Partners and mezzanine finance firm Massachusetts Capital Resources Company acquired manufacturer Segue Manufacturing Services

Acquisition Highlights
  • This is Axia Partners’ 1st and Massachusetts Capital Resources Company’s 2nd transaction in the Manufacturing sector.
  • This is Axia Partners’ 5th and Massachusetts Capital Resources Company’s 11th transaction in the United States.
  • This is Axia Partners’ 4th and Massachusetts Capital Resources Company’s 10th transaction in Massachusetts.
Investment Fate
  • Segue Manufacturing Services was sold to a strategic buyer in 2023.

M&A Deal Summary

Date 2008-02-05
Target Segue Manufacturing Services
Sector Manufacturing
Buyer(s) Axia Partners
Massachusetts Capital Resources Company
Deal Type Buyout (LBO, MBO, MBI)

Target

Segue Manufacturing Services

North Billerica, Massachusetts, United States
Segue Manufacturing Services provides high-value, cost-effective manufacturing solutions for highly engineered products for military, solar, medical, semiconductor and industrial capital equipment. Segue Manufacturing Services was founded in 1991 and is based in North Billerica, Massachusetts.

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Buyer(S) 2

Buyer

Axia Partners

Boston, Massachusetts, United States

Investor Investor


Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

Axia Capital is a private equity investment and advisory firm. Axia Capital looks to invest in under-appreciated technology assets generating revenues of $3 to $50 million. Specific areas of interest include industrial and laboratory automation, robotics and controls; enterprise software and services; sensors and instrumentation; and industrial capital equipment. Targeted transactions include acquisitions of non-core divestitures, recapitalizations, and situations requiring growth capital. Axia Capital looks to $1 to $ 5 million per transaction. Axia Capital was formed in 2003 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 5 of 5
Sector: Manufacturing M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 4 of 4
State: Massachusetts M&A 4 of 4
Country: United States M&A 5 of 5
Year: 2008 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-17 Innofiber

Sterling, Massachusetts, United States

Innofiber is a designer and manufacturer of high precision application-specific, fiber-optic light guides and accessories to OEMs in the industrial and medical markets. Innofiber was founded in 1989 and is based in Sterling, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-16 Hydroid

Pocasset, Massachusetts, United States

Hydroid is a manufacturer and supplier of autonomous underwater vehicles (AUV) for military and commercial markets worldwide. Its REMUS line of unmanned underwater vehicles (UUV) has provided deployable solutions for use in defense, marine research and commercial applications. Hydroid specializes in UUV design, engineering, production and support.

Sell $80M
Buyer

Massachusetts Capital Resources Company

Boston, Massachusetts, United States

Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1977
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Massachusetts Capital Resource Company (MCRC) is a limited partnership privately owned and funded by Massachusetts-based life insurance companies. MCRC provides mezzanine financing for businesses with $3 to $100 million in revenue seeking capital to fund growth, strengthen balance sheets, or complete acquisitions. MCRC will consider investments in technology and non-technology companies seeking capital of $1 to $5 million. MCRC was formed in 1977 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 11 of 35
Sector: Manufacturing M&A 2 of 5
Type: Buyout (LBO, MBO, MBI) M&A Deals 7 of 14
State: Massachusetts M&A 10 of 34
Country: United States M&A 11 of 35
Year: 2008 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-01 MicroCal

Piscataway, New Jersey, United States

MicroCal LLC develops and manufactures the most sensitive and reliable microcalorimeters.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-01 BigBelly

Needham, Massachusetts, United States

Bigbelly provides smart waste and recycling solutions for public spaces. Deployed across communities, campuses and organizations in over 50 countries, the smart and connected Bigbelly waste & recycling system combines smart, solar powered, compacting stations with a cloud-based management platform to optimize waste operations. Customers experience up to 80% collection reduction in addition to cleanliness, operational, economic, and environmental gains with Bigbelly. BigBelly was founded in 2003 and is based in Needham, Massachusetts.

Buy -