M&A Deal Summary

B12 Capital Partners, Northcreek Mezzanine and Foundation Investment Partners Acquire Advanced Probing Systems

On August 1, 2011, private equity firm B12 Capital Partners, Northcreek Mezzanine and private equity firm Foundation Investment Partners acquired manufacturer Advanced Probing Systems

Acquisition Highlights
  • This is B12 Capital Partners’ 2nd, Northcreek Mezzanine’s 1st and Foundation Investment Partners’ 1st transaction in the Manufacturing sector.
  • This is B12 Capital Partners’ 2nd, Northcreek Mezzanine’s 3rd and Foundation Investment Partners’ 1st transaction in the United States.
  • This is B12 Capital Partners’ 1st, Northcreek Mezzanine’s 1st and Foundation Investment Partners’ 1st transaction in Colorado.

M&A Deal Summary
Date 2011-08-01
Target Advanced Probing Systems
Sector Manufacturing
Buyer(s) B12 Capital Partners
Northcreek Mezzanine
Foundation Investment Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Advanced Probing Systems

Louisville, Colorado, United States
Advanced Probing Systems is a manufacturer and supplier of probe needles used in semiconductor wafer test, LED and LCD test, and medical applications. Advanced Probing Systems was founded in 1990 and is based in Louisville, Colorado.

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Buyer(S) 3

Buyer

B12 Capital Partners

Kansas, Missouri, United States

Investor Investor

Category Private Equity Firm
Founded 2006
Size Small
Type Sector Agnostic
DESCRIPTION

B12 Capital Partners is a private equity fund focused on partnering with managers to invest in manufacturing and distribution companies with revenues of $5 to $50 million. B12 provides capital for growth, ownership transitions, as well as outright acquisitions. The Firm prefers profitable businesses (up to $5 million of EBITDA) with sustainable competitive positions and identifiable growth prospects. B12 targets companies located in the Midwest, Southeast, and Intermountain West. B12 will not consider startups, early-stage transactions, turnarounds, or businesses in real estate, oil/gas, restaurants, and retail. B12 was established in 2006 and is based in Kansas City, Missouri.

DEAL STATS #
Overall 2 of 10
Sector (Manufacturing) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 2 of 7
State (Colorado) 1 of 1
Country (United States) 2 of 10
Year (2011) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-11-23 Doors In Motion

Scottsdale, Arizona, United States

Doors in Motion manufactures automated sliding doors in Scottsdale, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-12 Domaille Engineering

Rochester, Minnesota, United States

Domaille Engineering is a provider of polishing machines and fixtures, inspection equipment and associated engineered products for the rapidly growing fiber-optic cable market. The Company also engineers and manufactures complex, mission-critical products for the defense, aerospace, national security, telecommunications, energy and medical sectors. Domaille Engineering was founded in 1990 and is based in Rochester, Minnesota.

Buy -
Buyer

Northcreek Mezzanine

Category Private Equity Firm
Founded 2010
PE ASSETS 250M USD
Size Small
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 3 of 29
Sector (Manufacturing) 1 of 5
Type (Buyout (LBO, MBO, MBI)) 2 of 10
State (Colorado) 1 of 3
Country (United States) 3 of 29
Year (2011) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-01 Open Sky Media

Austin, Texas, United States

Open Sky Media is an operator of city and lifestyle magazines that appeal to affluent readers living in healthy, fast-growing markets. Open Sky Media's titles include Austin Monthly, Austin Home, San Antonio Magazine, Slice Magazine (OKC) and Marin Magazine. Open Sky Media was founded in 2010 and is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-01 Acoust-A-Fiber

Delaware, Ohio, United States

Acoust-A-Fiber is a manufacturer of fiber engineered composites, including sound and heat shields for the automotive industry as well as the industrial, transportation, and military-auto industries. Acoust-A-Fiber is based in Delaware, Ohio.

Buy -
Buyer

Foundation Investment Partners

Category Private Equity Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

Foundation Investment Partners is a Midwest US-based private equity investor focused on acquiring niche manufacturers, value-added distributors, outsourced business service providers, and targeted software developers. Targeted acquisition characteristics include b2b orientation, defensible market positions, undermanaged, and limited focus on sales/marketing. The Firm seeks businesses profitable candidates with $1 to $6 million of EBITDA. Foundation Investment Partners was formed in 2009 and is based in Cleveland, Ohio.

DEAL STATS #
Overall 1 of 8
Sector (Manufacturing) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 1 of 5
State (Colorado) 1 of 1
Country (United States) 1 of 7
Year (2011) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-13 ACME Cosmetic Components

Secaucus, New Jersey, United States

ACME Cosmetic Components is a designer and manufacturer of metal pans used in cosmetics packaging and the food and drug industry. ACME Cosmetic Components was founded in 1935 and is based in Secaucus, New Jersey.

Buy -
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