M&A Deal Summary

Baymark Partners and Midwest Mezzanine Funds Acquire Hercules Chassis

On June 1, 2016, private equity firm Baymark Partners and mezzanine finance firm Midwest Mezzanine Funds acquired automotive company Hercules Chassis

Acquisition Highlights
  • This is Baymark Partners’ 1st and Midwest Mezzanine Funds’ 3rd transaction in the Automotive sector.
  • This is Baymark Partners’ 6th and Midwest Mezzanine Funds’ 54th transaction in the United States.
  • This is Baymark Partners’ 1st and Midwest Mezzanine Funds’ 2nd transaction in New Jersey.

M&A Deal Summary

Date 2016-06-01
Target Hercules Chassis
Sector Automotive
Buyer(s) Baymark Partners
Midwest Mezzanine Funds
Deal Type Buyout (LBO, MBO, MBI)

Target

Hercules Chassis

Hillsborough, New Jersey, United States
Hercules Chassis is a manufacturer of chassis and specialty trailers used to carry intermodal shipping containers to and from ports, rail terminals, origin, and final destination. Hercules Chassis was founded in 1958 and is based in Hillsborough, New Jersey.

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Buyer(S) 2

Buyer

Baymark Partners

Plano, Texas, United States

Investor Investor


Category Private Equity Firm
Founded 2008
Size Small
Type Sector Focused
DESCRIPTION

Baymark Partners is a private equity group focused on acquiring smaller growth companies that can expand into mid-sized businesses. Baymark generally looks for companies that are breakeven or have up to $20 million in EBITDA. Sectors of interest include business services, IT outsourcing and medical/healthcare services. Baymark prefers opportunities in Texas and neighboring states. Baymark Partners is based in Dallas.


DEAL STATS #
Overall 6 of 14
Sector (Automotive) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 5 of 10
State (New Jersey) 1 of 2
Country (United States) 6 of 14
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-09 Memorial MRI and Diagnostic

Houston, Texas, United States

Memorial MRI & Diagnostic is a provider of outpatient diagnostic imaging services in the Houston market. It is a provider of diagnostic imaging services including MRI, CT or CAT scan, nuclear medicine, ultrasound, digital X-ray, digital mammography, dual energy X-ray or DEXA, pain management and other radiology services. Memorial MRI and Diagnostic is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-14 J&G Concrete Products

Waxahachie, Texas, United States

J&G Concrete Products, Inc. is a manufacturer of pipes. J&G Concrete Products products include Precast Concrete Pipe, Precast Concrete Arch Pipe, and cutting edge Precast Gasketed Box Culverts. J&G Concrete Products was founded in 2003 and is based in Waxahachie, Texas.

Sell -
Buyer

Midwest Mezzanine Funds

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1992
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Midwest Mezzanine Funds (MMF) is a provider of junior capital to lower middle-market, US and Canadian companies. MMF looks to invest $4 to $15 million to support buyouts, acquisition financings, recapitalizations, and growth capital needs. Prospective companies generally have consistent profits ($3 million of EBITDA), low capital intensity, and sustainable competitive advantages. Broad areas of interest include manufacturing, value-added distribution, and services. MMF will not invest in high technology, energy, or real estate. Midwest Mezzanine was formed in 1992 and has offices in Chicago and Monroe, Michigan.


DEAL STATS #
Overall 54 of 81
Sector (Automotive) 3 of 4
Type (Buyout (LBO, MBO, MBI)) 27 of 32
State (New Jersey) 2 of 2
Country (United States) 54 of 81
Year (2016) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Jolyn Clothing Company

Huntington Beach, California, United States

Jolyn Clothing Company is a designer and e-retailer of women’s performance training swimwear, accessories, and Dryland activewear apparel, based in Huntington Beach, CA. The Company sells its products direct-to-consumer through its website as well as a network of brand ambassadors who are themselves highly decorated athletes, including Olympic medalists and NCAA champions in swimming, water polo, beach volleyball and other aquatic sports.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-03 Jan-pro

Alpharetta, Georgia, United States

Jan-pro operates its business in the commercial cleaning franchising industry and licenses its master franchise owners and unit franchisees under the trademark 'JAN-PRO. Jan-pro was founded in 2005 and is based in Alpharetta, Georgia.

Sell -