M&A Deal Summary

Babcock & Wilcox Enterprises Acquires MEGTEC Systems

On May 13, 2014, Babcock & Wilcox Enterprises acquired machinery company MEGTEC Systems from Hamilton Robinson Capital Partners, Stephens Capital Partners and Barings Private Equity for 155M USD

Acquisition Highlights
  • This is Babcock & Wilcox Enterprises’ 1st transaction in the Machinery sector.
  • This is Babcock & Wilcox Enterprises’ 2nd largest (disclosed) transaction.
  • This is Babcock & Wilcox Enterprises’ 1st transaction in the United States.
  • This is Babcock & Wilcox Enterprises’ 1st transaction in Wisconsin.
Investment Fate
  • MEGTEC Systems was divested to a consortium of strategic buyers in 2018 for 110M EUR.

M&A Deal Summary
Date 2014-05-13
Target MEGTEC Systems
Sector Machinery
Buyer(s) Babcock & Wilcox Enterprises
Sellers(s) Hamilton Robinson Capital Partners
Stephens Capital Partners
Barings Private Equity
Deal Type Add-on Acquisition
Deal Value 155M USD

Target

MEGTEC Systems

De Pere, Wisconsin, United States
MEGTEC Systems, Inc. is a provider of an exhaust-air purification systems and dryers and coating systems for the production of electrodes for lithium-ion batteries. MEGTEC Systems was founded in 1997 and is based in De Pere, Wisconsin.

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Buyer(S) 1

Buyer

Babcock & Wilcox Enterprises

Akron, Ohio, United States
Category Company
Founded 1867
Sector Energy Services and Equipment
Employees2,200
Revenue 999M USD (2023)
DESCRIPTION

Babcock & Wilcox Enterprises is a provider of an advanced energy and environmental technologies and services for the power and industrial markets, with operations, subsidiaries and joint ventures worldwide. Babcock & Wilcox Enterprises was incorporated in 1867 and is based in Akron, Ohio.

DEAL STATS #
Overall 1 of 6
Sector (Machinery) 1 of 3
Type (Add-on Acquisition) 1 of 6
State (Wisconsin) 1 of 2
Country (United States) 1 of 3
Year (2014) 1 of 1
Size (of disclosed) 2 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-23 Spig

Paruzzaro , Italy

Spig is an engineering and contracting company that operates globally in the closed-loop industrial cooling systems sector, including cooling towers (wet cooling), air-cooled condensers, and air coolers (dry cooling). Its cooling systems are installed in power plants, refineries, petrochemical plants, and other industrial plants where cooling is critical. Spig is based in Paruzzaro , Italy.

Buy €155M

Seller(S) 3

SELLER

Hamilton Robinson Capital Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Hamilton Robinson (HR) is a private equity firm that targets investments in small to mid-sized companies with revenues between $15 and $200 million headquartered in the US or Canada. Preferred industries include industrial processes and engineered products, energy and utility equipment and services, business and commercial services, and specialty publishing. HR looks for companies needing equity capital for management buyouts, corporate growth, and recapitalizations. HR will not invest in commodity businesses, companies with high customer concentration, real estate, natural resources, or early stage opportunities. HR prefers to lead investments and will consider both majority or minority positions. Hamilton Robinson was formed in 1984 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 13 of 20
Sector (Machinery) 4 of 5
Type (Add-on Acquisition) 3 of 7
State (Wisconsin) 1 of 1
Country (United States) 12 of 18
Year (2014) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-16 Sound Seal

Agawam, Massachusetts, United States

Sound Seal is a manufacturer of commercial and architectural acoustic noise control products and offers a wide product selection to the soundproofing industry. Sound Seal consists of three product divisions: the Industrial Division that addresses in-plant and environmental noise control; the Architectural Division that handles interiors and finishes, including an award-winning line of WoodTrends products; and the Impacta Flooring Division that offers floor underlayments. Sound Seal was founded in 1978 and is based in Agawam, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-01 Inspire Automation

Indianapolis, Indiana, United States

Inspire Automation is a manufacturer of specialized equipment and conveyor systems for the corrugated box industry. The company designs and manufactures graphics, robotic material handling equipment and high-speed litho label laminators for corrugated box makers to add value to strong, plain corrugated boxes easily and economically. Inspire Automation is based in Indianapolis, Indiana.

Buy -
SELLER

Stephens Capital Partners

Little Rock, Arkansas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Stephens Capital Partners is the direct, private equity investment arm of financial services firm Stephens, Inc. Stephens Capital looks to acquire minority or majority stakes in mid-sized, profitable companies in partnership with management. The Firm will consider opportunities throughout the US valued between $50 and $200 million. Stephens Capital will not consider venture investments or turnaround situations. Stephens Capital Partners is based in Little Rock, Arkansas.

DEAL STATS #
Overall 18 of 40
Sector (Machinery) 2 of 2
Type (Add-on Acquisition) 9 of 19
State (Wisconsin) 1 of 1
Country (United States) 18 of 39
Year (2014) 1 of 1
Size (of disclosed) 6 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-01 Basin Oil & Gas

Fort Wo​​​​​rth, Texas, United States

Basin Oil & Gas is an oil and gas company focused on providing consistent, long-term returns by building a diversified portfolio of energy assets. Basin Oil & Gas was established in 2009 and is based in Fort Worth, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-01 PDQ

Tampa, Florida, United States

PDQ is a fast-casual restaurant company specializing in fresh, hand-battered chicken tenders, made-to-order chicken and turkey sandwiches, fresh-cut fries, hand-spun milkshakes and fresh salad chicken tenders, milkshakes, and fresh salads. PDQ was founded in 2011 and is based in Tampa, Florida.

Buy -
SELLER

Barings Private Equity

Investor Investor

Category Private Equity Firm
Founded 1991
PE ASSETS 5.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Barings Private Equity is the private equity arm of global asset management firm Barings. The Group looks to invest in mezzanine, distressed, and other private equity transactions including secondaries and funds. Sectors of interest include manufacturing, business services, distribution, consumer products, consumer services, food products, packaging, and healthcare. Barings Private Equity was originally established in 1991 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 6 of 37
Sector (Machinery) 2 of 2
Type (Add-on Acquisition) 5 of 23
State (Wisconsin) 2 of 2
Country (United States) 6 of 33
Year (2014) 2 of 5
Size (of disclosed) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-09 SouthernCare

Birmingham, Alabama, United States

SouthernCare is one of the independent providers of hospice services in the U.S., with 63 operations located throughout the Southeast and the Midwest.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-25 apexanalytix

Greensboro, North Carolina, United States

apexanalytix is a provider of supplier management, audit, recovery, and compliance software, and services. apexanalytix was founded in 1988 and is based in Greensboro, North Carolina.

Sell -
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