Investment Summary

MPE Partners, American Capital and Begel Industries Exits Phillips & Temro

On February 10, 2012, private equity firm Audax Private Equity invested in automotive company Phillips & Temro from MPE Partners, American Capital and Begel Industries

Investment Highlights
  • This is Audax Private Equity’s 2nd transaction in the Automotive sector.
  • This is Audax Private Equity’s 55th transaction in the United States.
  • This is Audax Private Equity’s 2nd transaction in Minnesota.
Investment Fate
  • Phillips & Temro was sold to a consortium of financial buyers in 2015.

Investment Summary

Date 2012-02-10
Target Phillips & Temro
Sector Automotive
Investor(s) Audax Private Equity
Sellers(s) MPE Partners
American Capital
Begel Industries
Deal Type Secondary Buyout
Advisor(s) Goldman Sachs (Financial)

Target

Phillips & Temro

Eden Prairie, Minnesota, United States
Phillips & Temro is a supplier of highly engineered diesel and gasoline engine components with an emerging presence in electric and hybrid electric vehicle platforms. Phillips & Temro was founded in 1920 and is based in Eden Prairie, Minnesota.

Search 214,356 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Investor(S) 1

Investor

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 57 of 170
Sector: Automotive M&A 2 of 8
Type: Secondary Buyout M&A Deals 20 of 73
State: Minnesota M&A 2 of 6
Country: United States M&A 55 of 161
Year: 2012 M&A 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-06 Advanced Dermatology and Cosmetic Surgery

Maitland, Florida, United States

Advanced Dermatology and Cosmetic Surgery is a dermatology-focused physician practice management company, with clinics around the United States which provide clinical, cosmetic, and pathology services. Advanced Dermatology and Cosmetic Surgery was founded in 1989 and is based in Maitland, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-06 Arnold Magnetic

Rochester, New York, United States

Arnold Magnetic is a manufacturer of engineered, mission-critical magnetic products for aerospace, military, alternative energy, and industrial applications. Arnold Magnetic was established in 1895 and is based in Rochester, New York.

Sell $131M

Seller(S) 3

SELLER

MPE Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 3.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

MPE Partners is a Midwest based investment firm principally focused private equity investments throughout North America. MPE has a preference for buyouts and recapitalizations of lower middle-market, family and entrepreneur owned businesses. The Firm looks for stand-alone companies operating in the 'high-value' manufacturing or business services sectors. MPE seeks businesses with at least $5 million of EBITDA and valued up to $250 million. MPE Partners is headquartered in Cleveland, Ohio.


DEAL STATS #
Overall 35 of 59
Sector: Automotive M&A 1 of 3
Type: Secondary Buyout M&A Deals 7 of 12
State: Minnesota M&A 2 of 2
Country: United States M&A 33 of 57
Year: 2012 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-07 BlueArc

San Jose, California, United States

BlueArc Corp. is a provider of the performance and scalable enterprise-class network attached storage systems. BlueArc Corporation delivers the world's highest-performance and most scalable enterprise-class network attached storage (NAS) systems.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-16 Avtron LoadBank

Cleveland, Ohio, United States

Avtron LoadBank, Inc. is a designer and manufacturer of highquality resistive and reactive load banks, neutral grounding resistors, and industrial power resistors.

Sell -
SELLER

American Capital


Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.


DEAL STATS #
Overall 138 of 194
Sector: Automotive M&A 6 of 11
Type: Secondary Buyout M&A Deals 46 of 71
State: Minnesota M&A 3 of 3
Country: United States M&A 135 of 186
Year: 2012 M&A 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-07 Aptara

Falls Church, Virginia, United States

Aptara, Inc. is a content outsourcing firm. Aptara Knowledge Process Outsourcing (KPO) significantly enhances the ability to increase revenues and improve costs for companies that produce, manage, and disseminate high volumes of product, service or other content.

Sell $144M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-07 AmWINS

Charlotte, North Carolina, United States

AmWINS is a distributor of insurance products, provides property and casualty products, group insurance programs, and administrative services to retail insurance agents. It provides brokerage services in the areas of property, casualty, financial risk, auto, construction, environmental, healthcare, life sciences, and public entity. AmWINS was founded in 1998 and is based in Charlotte, North Carolina.

Buy $1.3B
SELLER

Begel Industries

Chicago, Illinois, United States

Category Private Equity Firm
Founded 1989
Size Middle-Market
Type Sector Focused
DESCRIPTION

Begel Industries (TMB Industries) is a private equity firm focused on acquiring North American middle-market industrial businesses. Areas of interest include general industrial/manufacturing, automotive, medium/heavy-duty truck, painting/coating, and engineered products. Target businesses generally have revenues of $30 to $500 million. Begel prefers companies with proven management, well-positioned products, and strong customer relationships. TMB was formed in 1989 and is based in Chicago, Illinois.


DEAL STATS #
Overall 2 of 2
Sector: Automotive M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 2
State: Minnesota M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2012 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-06 Prospect Foundry

Minneapolis, Minnesota, United States

Prospect Foundry is a provider of complex gray, ductile and high-alloyed iron castings for construction equipment, mining equipment, agricultural equipment and transportation-related applications. Prospect Foundry was formed in 1936 and is based in Minneapolis, Minnesota.

Buy -