M&A Deal Summary

Black Bay Energy Capital Acquires Advanced Industrial Devices

On May 17, 2022, private equity firm Black Bay Energy Capital acquired electrical equipment company Advanced Industrial Devices from Rock Island Capital

Acquisition Highlights
  • This is Black Bay Energy Capital’s 1st transaction in the Electrical Equipment sector.
  • This is Black Bay Energy Capital’s 6th transaction in the United States.
  • This is Black Bay Energy Capital’s 1st transaction in Oklahoma.

M&A Deal Summary

Date 2022-05-17
Target Advanced Industrial Devices
Sector Electrical Equipment
Buyer(s) Black Bay Energy Capital
Sellers(s) Rock Island Capital
Deal Type Secondary Buyout
Advisor(s) McDermott Will & Emery (Legal)

Target

Advanced Industrial Devices

Tulsa, Oklahoma, United States
Advanced Industrial Devices is a provider of electric motor automation and control solutions across the United States. AID designs and sells custom variable frequency drive control systems that are utilized across a diverse set of applications within the oil and gas and industrial sectors. Advanced Industrial Devices was formed in 1983 and is based in Tulsa, Oklahoma.

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Buyer(S) 1

DESCRIPTION

Black Bay Energy Capital is an energy private equity firm focused on the North American oilfield service sector. Black Bay looks to invest up to $30 million of equity capital in businesses managed by talented entrepreneurs that provide a differentiated product or service to the industry. Black Bay Energy was established in 2016 and is headquartered in New Orleans, Louisiana.


DEAL STATS #
Overall 6 of 9
Sector (Electrical Equipment) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Oklahoma) 1 of 2
Country (United States) 6 of 9
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-08 Tops

Midland, Texas, United States

Tops is a provider of contract gas compression services for the Permian Basin. TOPS specializes in lower emission, electrically driven compression for gas lift, and other applications. TOPS’ natural gas compressors feature industry-leading technology allowing for complete remote monitoring of all operating conditions. These features ensure industry-leading up-time and transparency, and a compressor package is built to take advantage of the latest automation enhancements. Tops is based in Midland, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-01 Allied Petrochemical

Alvin, Texas, United States

Allied Petrochemical is a provider of recycled fuel blend stocks and custom-manufactured chemical additives to various end-markets. Allied Petrochemical was founded in 2000 and is based in Alvin, Texas.

Buy -

Seller(S) 1

SELLER

Rock Island Capital

Oak Brook, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 310M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Rock Island Capital is a private equity firm that provides equity and mezzanine capital to middle-market manufacturing, distribution or service companies located in the US. Rock Island typically invests to support management buyouts, generational changes of ownership, growth and expansion, and recapitalization. Prospective companies generally have sales of at least $10 million and are valued up to $150 million. The Firm will consider both majority or minority positions. Rock Island Capital has offices in Oak Brook, Illinois and Kansas City, Missouri.


DEAL STATS #
Overall 9 of 12
Sector (Electrical Equipment) 1 of 1
Type (Secondary Buyout) 3 of 5
State (Oklahoma) 2 of 2
Country (United States) 9 of 12
Year (2022) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 Superior Felt & Filtration

McHenry, Illinois, United States

Superior Felt & Filtration is a converter and distributor of nonwoven materials and subcomponent manufacturer primarily serving the medical and industrial filtration markets. The company maintains the largest inventory of nonwoven textiles in North America and is the exclusive North American distribution of Technostat® electrostatic, nonwoven media to medical end-markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-12 Baker Manufacturing

Evansville, Wisconsin, United States

Baker Manufacturing is a manufacturer of pumps for the viscous fluid transfer market; water well equipment and accessories for residential and industrial/municipal water systems; and short-run castings for general industrial markets. Baker Manufacturing was founded in 1873 and is based in Evansville, Wisconsin.

Sell -