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Investment Summary

Beckner Clevy Partners and Harbert Mezzanine Capital Exits Nello

On June 11, 2024, private equity firm Main Street Capital invested in manufacturer Nello from Beckner Clevy Partners and Harbert Mezzanine Capital for 37M USD

Investment Highlights
  • This is Main Street Capital’s 12th transaction in the Manufacturing sector.
  • This is Main Street Capital’s 5th largest (disclosed) transaction.
  • This is Main Street Capital’s 141st transaction in the United States.
  • This is Main Street Capital’s 4th transaction in Indiana.

Investment Summary
Date 2024-06-11
Target Nello
Sector Manufacturing
Investor(s) Main Street Capital
Sellers(s) Beckner Clevy Partners
Harbert Mezzanine Capital
Deal Type Secondary Buyout
Deal Value 37M USD

Target

Nello

South Bend, Indiana, United States
Nello designs and fabricates galvanized steel towers and poles. Nello services a wide variety of industries specializing in wireless self-supporting towers, guyed towers, and monopoles as well as tapered utility pole and transmission pole structures. Nello was founded in 2002 and is based in South Bend, Indiana.

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Investor(S) 1

Investor

Main Street Capital

Houston, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 8.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Main Street Capital is a public investment firm that invests in mid-market companies to support ownership transitions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives. Main Street looks for businesses opearting in basic industries with positive cash-flow and and defensible competitive advantages. Main Street generally invests $5 to $125 million in companies with $10 to $150 million of revenue and EBITDA of $3 to $20 million. Investments are usually in the form of term debt and/or direct equity. Main Street Capital was formed in 1997 and is based in Houston, Texas.

DEAL STATS #
Overall 141 of 146
Sector: Manufacturing M&A 12 of 13
Type: Secondary Buyout M&A Deals 13 of 13
State: Indiana M&A 4 of 4
Country: United States M&A 141 of 146
Year: 2024 M&A 2 of 3
Size (of disclosed) 5 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-28 CHG

Shelton, Connecticut, United States

CHG delivers packaging products through two distinct brands. Classic Home & Garden brand designs, engineers manufactures, and distributes decorative planters, fountains and home décor items through partnerships with growers, garden shops and traditional/online retailers, and Jade Road brand designs, engineers and manufactures turnkey fragrance products in addition to custom packaging solutions for the global fragrance and beauty categories. CHG was founded in 1975 and is based in Shelton, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-29 MoneyThumb

Encinitas, California, United States

MoneyThumb is a software-as-a-service provider of financial file conversion, reconciliation, and analysis software to end customers primarily in the merchant cash advance and accounting industries. MoneyThumb was founded in 2014 and is headquartered in Encinitas, California.

Buy -

Seller(S) 2

SELLER

Beckner Clevy Partners

Category Private Equity Firm
Size Small
Type Sector Focused
DESCRIPTION

Beckner Clevy Partners is a private investment firm focused on acquiring lower middle-market industrial companies. The Firm will consider opportunities throughout North America with $25 to $150 million of revenue and up to $10 million of EBITDA. Beckner Clevy Partners is based in Nashville, Tennessee.

DEAL STATS #
Overall 2 of 2
Sector: Manufacturing M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 2
State: Indiana M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2024 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-26 IHP

Nashville, Tennessee, United States

Innovative Hearth Products is a manufacturer of indoor and outdoor fireplaces, fireplace inserts, free-standing stoves, gas log sets, venting products and accessories for the specialty retail, residential new construction and industrial markets. Based in Nashville, Tenn. IHP operates manufacturing facilities in Russellville, Ala., Santa Ana, Calif. and Auburn, Wash.

Sell -
SELLER

Harbert Mezzanine Capital

Investor Investor Investor Investor

Category Mezzanine Finance Firm
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Harbert Mezzanine Capital is the junior capital investment arm of asset manager Harbert Management Corporation. Harbert Mezzanine looks to invest $3 to $15 million of subordinated debt to support growth needs, acquisitions, recapitalizations, or management buyouts of mid-sized companies throughout the US. Harbert Mezzanine Capital is based in Nashville, Tennessee.

DEAL STATS #
Overall 13 of 13
Sector: Manufacturing M&A 1 of 1
Type: Secondary Buyout M&A Deals 6 of 6
State: Indiana M&A 3 of 3
Country: United States M&A 13 of 13
Year: 2024 M&A 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-19 Biologos

Montgomery, Illinois, United States

Biologos is a provider of sterile-filtered biological products (sera, reagents, buffers, cell culture media and other liquid solutions), primarily for veterinary pharmaceutical and organ transplant applications. Biologos was founded in 1976 and is based in Montgomery, Illinois.

Sell -
Mergr

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