M&A Deal Summary

Brookside Equity Partners, Barings Private Equity and One Rock Capital Partners Acquire SummitReheis

On June 12, 2013, private equity firms Brookside Equity Partners, Barings Private Equity and One Rock Capital Partners acquired chemicals company SummitReheis from MVC Capital for 66M USD

Acquisition Highlights
  • This is Brookside Equity Partners’ 1st, Barings Private Equity’s 3rd and One Rock Capital Partners’ 1st transaction in the Chemicals sector.
  • This is Brookside Equity Partners’ , Barings Private Equity’s 2nd and One Rock Capital Partners’ 4th largest (disclosed) transaction.
  • This is Brookside Equity Partners’ 32nd, Barings Private Equity’s 28th and One Rock Capital Partners’ 4th transaction in the United States.
  • This is Brookside Equity Partners’ 5th, Barings Private Equity’s 1st and One Rock Capital Partners’ 1st transaction in New York.
Investment Fate
  • SummitReheis was sold to a publicly-traded strategic buyer in 2017 for 360M USD.

M&A Deal Summary
Date 2013-06-12
Target SummitReheis
Sector Chemicals
Buyer(s) Brookside Equity Partners
Barings Private Equity
One Rock Capital Partners
Sellers(s) MVC Capital
Deal Type Secondary Buyout
Deal Value 66M USD
Advisor(s) Lazard Middle Market (Financial)

Target

SummitReheis

Huguenot, New York, United States
SummitReheis is a high quality, high margin specialty chemicals platform that produces a range of critical active ingredients and materials tailored for use in personal care, pharmaceutical and dental products. SummitReheis' anti-perspirant actives business (more than 60 per cent. of its sales) is the global leader in the manufacture and sale of active ingredients for anti-perspirants and has long standing relationships with key consumer product companies across the Americas, Europe and Asia.

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Buyer(S) 3

Buyer

Brookside Equity Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1977
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Brookside Equity Partners (BEP) focuses on private equity investments, including direct control investments, majority or minority co-investments alongside other investment firms, and, on a selective basis, investments in private funds or special situations. BEP targets North American middle-market companies with revenues greater than $15 million and at least $5 million of EBITDA. Sectors of interest include manufacturing, chemicals, financial services, environmental, food, and distribution. Brookside Equity Partners was formed in 1977 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 32 of 37
Sector (Chemicals) 1 of 1
Type (Secondary Buyout) 5 of 6
State (New York) 5 of 5
Country (United States) 32 of 36
Year (2013) 2 of 4
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-24 Hillsdale Furniture

Louisville, Kentucky, United States

Hillsdale is a designer and importer of residential case goods and accent furniture. Hillsdale sells a broad line of bedroom, dining room, occasional and accent furniture targeting promotional to middle price points. Hillsdale Furniture is based in Louisville, Kentucky.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-20 PTC Therapeutics

South Plainfield, New Jersey, United States

PTC Therapeutics is a biopharmaceutical company focused on the discovery, development and commercialization of orally administered, proprietary small molecule drugs targeting an area of RNA biology we refer to as post-transcriptional control. PTC Therapeutics was founded in 1998 and is based in South Plainfield, New Jersey.

Sell -
Buyer

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 31 of 53
Sector (Chemicals) 3 of 3
Type (Secondary Buyout) 14 of 20
State (New York) 1 of 1
Country (United States) 28 of 48
Year (2013) 6 of 9
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-22 Aramsco

Paulsboro, New Jersey, United States

Aramsco is a distributor of products, equipment, and services to specialty contractors in North America. The Company carries more than 30,000 different products ranging from personal protective equipment to specialty chemicals and equipment. Aramsco complements this product offering with a suite of value-added services such as equipment repair, rental, and training. Aramsco was founded in 1966 and is based in Paulsboro, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-22 Tranzonic Companies

Knoxville, Tennessee, United States

Tranzonic Companies is a manufacturer and distributor of consumable personal care, cleaning, and MRO products sold to over 30,000 industrial, commercial, institutional, and medical customers. Primary products include wipers, adult incontinence, personal hygiene, and related products with generic and private label brands. The Tranzonic Companies was established in 1933 and is based in Knoxville, Tennessee.

Buy -
Buyer

One Rock Capital Partners

New York, New York, United States
Category Private Equity Firm
Founded 2010
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

One Rock Capital Partners is a private equity group focused on opportunities where the Firm can leverage its operational, strategic, and financial resources. One Rock seeks investments in mature, North American companies and will also consider distressed situations. Sectors of interest include chemicals, packaging, forest products, consumer appliances/electronics, electrical equipment, niche manufacturing, business services, environmental services, waste management, equipment rental, healthcare products, medical products, and automotive dealerships. One Rock Capital Partners is based in New York City.

DEAL STATS #
Overall 4 of 25
Sector (Chemicals) 1 of 5
Type (Secondary Buyout) 3 of 10
State (New York) 1 of 1
Country (United States) 4 of 22
Year (2013) 2 of 2
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-19 Kova International

Garden Grove, California, United States

Kova International is a developer, manufacturer, and marketer of in-vitro diagnostic products for the global urinalysis market. Kova International was founded in 1981 and is based in Garden Grove, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-19 Dixie Electric

Midland, Texas, United States

Dixie Electric is a provider of electrical materials and services to energy companies in the Permian, Williston and Marcellus basins. The company specializes in oil field electrical construction and maintenance. Dixie Electric was founded in 1951 and is based in Midland, Texas.

Sell -

Seller(S) 1

SELLER

MVC Capital

Category Business Development Company
Founded 1999
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

MVC Capital is a business development company focused on providing long-term equity and debt investment capital to fund growth, acquisitions and recapitalizations of small and middle-market companies. MVC is sector agnostic and primarily invests in US-based companies. MVC's investments can take the form of common and preferred stock (control and non-control investments) and warrants or rights to acquire equity interests; senior and subordinated loans; or convertible securities. MVC serves as the lead investor for transactions, as well as a co-investor in companies along with other private equity sponsors. MVC Capital is based in Purchase, New York.

DEAL STATS #
Overall 2 of 9
Sector (Chemicals) 1 of 1
Type (Secondary Buyout) 1 of 3
State (New York) 1 of 3
Country (United States) 2 of 9
Year (2013) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-08 Biovation Holdings

Mankato, Minnesota, United States

Biovation Holdings is a manufacturer and marketer of environmentally friendly, organic, and sustainable laminate materials and composites.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-30 Biogenic Reagents

Minneapolis, Minnesota, United States

Biogenic Reagents is a producer of high-performance carbon products made from renewable resources. Biogenic Reagents was formed in 2011 and is based in Minneapolis, Minnesota.

Buy -
Mergr

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