M&A Deal Summary

Bertram Capital Acquires AFC Industries

On April 20, 2021, private equity firm Bertram Capital acquired manufacturer AFC Industries from Incline Equity Partners

Acquisition Highlights
  • This is Bertram Capital’s 3rd transaction in the Manufacturing sector.
  • This is Bertram Capital’s 31st transaction in the United States.
  • This is Bertram Capital’s 2nd transaction in New York.

M&A Deal Summary
Date 2021-04-20
Target AFC Industries
Sector Manufacturing
Buyer(s) Bertram Capital
Sellers(s) Incline Equity Partners
Deal Type Secondary Buyout

Target

AFC Industries

College Point, New York, United States
AFC Industries is a provider of supply chain management services and vendor-managed inventory programs to original equipment manufacturers. The company specializes in fasteners and other essential assembly components. It also provides a wide array of value-added services, including kitting, packaging, assembly, and other customization specific to their customers’ needs. AFC Industries was formed in 1987 and is based in College Point, New York.

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Buyer(S) 1

Buyer

Bertram Capital

Foster City, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2006
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Bertram Capital is a private equity firm that targets buyout and growth equity investments in lower middle-market companies. Bertram looks for companies with revenues of $20 to $250 million and EBITDA of $5 to $35 million. Sectors of interest include healthcare services and infrastructure, industrial manufacturing, business and financial services, technology, and internet. Bertram will consider both control and non-control investments. Prospective transaction structures include management buyouts, shareholder liquidity events, acquisitions financing's, growth financing's, and PIPE. Bertram Capital was formed in 2006 and is based in Foster City, California.

DEAL STATS #
Overall 34 of 45
Sector (Manufacturing) 3 of 3
Type (Secondary Buyout) 11 of 12
State (New York) 2 of 4
Country (United States) 31 of 42
Year (2021) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-17 Flow Control Group

Charlotte, North Carolina, United States

Flow Control Group is a solutions provider focused on technically oriented products and services for the flow control, fluid handling, and process & industrial automation sectors with locations throughout the U.S. and Canada. As a critical intermediary between over 2,000 suppliers and 10,000 customers, Flow Control Group was founded in 2014 and is based in Charlotte, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-14 Paula s Choice

Kent, Washington, United States

Paula's Choice is one of the largest digitally-native beauty brands in the world. Paula Begoun, Paula’s Choice has grown into a leading global skincare brand with a diversified geographic reach, a methodically curated product offering, and a loyal customer base that is supported by a global direct-to-consumer (“DTC”) model. Paula's Choice was founded in 1984 and is based in Kent, Washington.

Sell -

Seller(S) 1

SELLER

Incline Equity Partners

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1982
PE ASSETS 5.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Incline Equity Partners is a private equity firm focused on lower middle-market growth companies. The Firm targets companies located in the US and Canada with enterprise values ranging from $25 to $750 million. Prospective transaction types include buyouts, minority recapitalizations, and corporate divestitures. Incline Equity Partners was formerly known as PNC Equity Partners. The Firm is based in Pittsburgh.

DEAL STATS #
Overall 33 of 40
Sector (Manufacturing) 2 of 4
Type (Secondary Buyout) 18 of 24
State (New York) 2 of 2
Country (United States) 32 of 39
Year (2021) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-13 Revival Animal

Orange City, Iowa, United States

Revival Animal offers a broad product assortment that includes pet vaccines, reproductive health aids, supplements, and prescription medications. The Company primarily sells its products via its eCommerce website and serves an expansive customer base of breeders, animal shelters, veterinarians, and other pet health professionals. Revival Animal headquartered in Orange City, Iowa.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-29 Wholesale Supplies Plus

Independence, Ohio, United States

Wholesale Supplies Plus is a provider of high-quality raw materials, supplies, and packaging for soap, skincare, and candle artisans. The company’s broad product assortment and complementary support enable an expanding artisan community to meet growing consumer demand for authentic, local, and clean label personal products. Wholesale Supplies Plus was founded in 1999 and is based in Independence, Ohio.

Sell -
Mergr

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