M&A Deal Summary

Bilfinger SE Acquires Westcon

On July 12, 2012, Bilfinger SE acquired construction company Westcon from Argenta Partners, Progress Equity Partners and Navigator Partners

Acquisition Highlights
  • This is Bilfinger SE’s 3rd transaction in the Construction sector.
  • This is Bilfinger SE’s 3rd transaction in the United States.
  • This is Bilfinger SE’s 1st transaction in North Dakota.

M&A Deal Summary

Date 2012-07-12
Target Westcon
Sector Construction
Buyer(s) Bilfinger SE
Sellers(s) Argenta Partners
Progress Equity Partners
Navigator Partners
Deal Type Add-on Acquisition
Advisor(s) Prestwick Partners LLC (Financial)

Target

Westcon

Bismarck, North Dakota, United States
Westcon, Inc., is a provides a comprehensive range of construction services to large industrial processing facilities throughout the United States. The company specializes in large-scale construction solutions for a diverse mix of clients.

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Buyer(S) 1

Buyer

Bilfinger SE

Mannheim, Germany

Category Company
Founded 1880
Sector Engineering
Employees38,997
Revenue 4.0B EUR (2017)
DESCRIPTION

Bilfinger brings together two complementary characteristics: engineering competence and service mentality. For industrial companies, the energy sector and users of real estate and infrastructure, we are setting standards with our performance in countries throughout the world. High quality, technological competence and extensive experience are the foundations of our success. Everywhere we work, we ensure that our clients can concentrate on what they do best: their core business. Through their commitment, the 70,000 people at the engineering and services group help make daily life work: they design and finance, maintain and repair, build and operate.


DEAL STATS #
Overall 7 of 11
Sector (Construction) 3 of 3
Type (Add-on Acquisition) 7 of 10
State (North Dakota) 1 of 1
Country (United States) 3 of 3
Year (2012) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-01 Babcock Borsig Steinmüller CZ s.r.o.

Brno, Czech Republic

Babcock Borsig Steinmüller CZ s.r.o. f/k/a AE&E CZ s.r.o., provides services in architectural and engineering services (including design). The company is under liquidation.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-15 Europa Facility Holdings

Welwyn Garden City, United Kingdom

Europa is one of the largest privately-owned facilities management groups offering clients a fully integrated range of management and delivery of services across utilities, public, corporate and retail sectors throughout the U.K.

Buy -

Seller(S) 3

SELLER

Argenta Partners

Dallas, Texas, United States

Investor Investor Investor


Category Private Equity Firm
Founded 1989
Size Small
Type Sector Agnostic
DESCRIPTION

Argenta Partners is a private equity group that acquires controlling equity stakes in growth-oriented, mid-sized companies. Argenta will consider a variety of transaction situations; including, recapitalizations, buyouts, divestitures, and consolidations. Broad sectors of interest include manufacturing, service, transportation, and value-added distribution. Prospective companies generally have revenues of $10 to $125 million and EBITDA of at least $2 million. The Firm avoids investing in businesses with rapidly changing technology; or in retail, banking, real estate or commodity businesses. Argenta Partners was formerly known as Lynch Investment Company. The Firm was established in 1989 and is based in Dallas, Texas.


DEAL STATS #
Overall 4 of 5
Sector (Construction) 1 of 1
Type (Add-on Acquisition) 3 of 3
State (North Dakota) 1 of 1
Country (United States) 4 of 5
Year (2012) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-30 OTTR Chronic Care Solutions

Omaha, Nebraska, United States

OTTR Chronic Care Solutions is a provider of organ transplant software in U.S. The Company develops software products which increase the quality of patient care, improve workflow management and provide operational efficiencies for the healthcare industry. OTTR Chronic Care Solutions is based in Omaha, Nebraska.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Avita

Baton Rouge, Louisiana, United States

Avita is a specialized pharmacy which dispenses and delivers prescription medications for patients with certain chronic diseases. Avita also provides extensive patient data to the caregivers, prescribing physicians and community based organizations to assist with monitoring patient adherence. Avita was founded in 2003 and is based in Baton Rouge, Louisiana.

Buy -
SELLER

Progress Equity Partners

Dallas, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Progress Equity Partners is a private investment firm that seeks control positions in 'well-managed, entrepreneurial, service-based businesses.' Progress focuses on companies with sustainable/scalable business models and low capital expenditures. Specific areas of interest include building products/construction services, communication, marketing, facility maintenance services, franchising, manufacturing, retail, specialty food and healthcare services. Progress Equity Partners is based in Dallas, Texas.


DEAL STATS #
Overall 8 of 13
Sector (Construction) 2 of 2
Type (Add-on Acquisition) 3 of 6
State (North Dakota) 1 of 1
Country (United States) 8 of 13
Year (2012) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-15 Diversified Machine Systems

Colorado Springs, Colorado, United States

Diversified Machine Systems LLC is a manufacturer of 3-axis and 5-axis CNC routers and machining centers. Located in Colorado Springs, CO, and serving customers worldwide, DMS supplies machines to a variety of manufacturing sectors including aerospace, automotive, marine, 3D sculpture, and formed plastics among many others. Diversified Machine Systems was founded in 2003 and is based in Colorado Springs, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-12 Revere Packaging

Shelbyville, Kentucky, United States

Revere Packaging is a niche provider of single-use aluminum and plastic packaging solutions to the food service industry. Revere Packaging was founded in 1801 and is based in Shelbyville, Kentucky.

Buy -
SELLER

Navigator Partners

Summit, New Jersey, United States

Investor Investor Investor


Category Private Equity Firm
Founded 1999
Size Small
Type Sector Agnostic
DESCRIPTION

Navigator Partners LLC (formerly Navigator Equity Partners LLC) is a private equity firm focused on smaller middle-market company acquisitions and recapitalizations. The Firm is licensed as a SBIC and targets companies with revenues of $10 to $200 million and EBITDA of at least $2 million. Companies of interest include manufacturers and marketers of consumer and healthcare products, providers of consumer and business services, franchisors, healthcare service providers, select industrial products, and media businesses. Navigator will not invest in start-up, early-stage, or turnaround situations. Navigator Equity Partners is based in Summit, New Jersey.


DEAL STATS #
Overall 7 of 11
Sector (Construction) 2 of 2
Type (Add-on Acquisition) 1 of 5
State (North Dakota) 1 of 1
Country (United States) 7 of 11
Year (2012) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-27 Universal Environmental Services

Peachtree City, Georgia, United States

Universal Environmental Services is a collector and reseller of used oil. Universal Environmental Services was founded in 1995 and is based in Peachtree City, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-12 Revere Packaging

Shelbyville, Kentucky, United States

Revere Packaging is a niche provider of single-use aluminum and plastic packaging solutions to the food service industry. Revere Packaging was founded in 1801 and is based in Shelbyville, Kentucky.

Buy -